Sen. Ted Cruz (R-TX) said the only thing that could stop America from becoming the world’s largest producer of oil and natural gas and using its energy profits to pay down the debt is the federal government getting in the way.
Appearing on Breitbart News Sunday on April 13, 2014, with Breitbart News Executive Chairman Stephen K. Bannon, Cruz said America is on the verge of an “energy renaissance” and mentioned that the innovations came from private entrepreneurs and not bureaucrats.
He said the late George Mitchell, the fracking pioneer who was convinced “we could access the oil and gas trapped in shale,” was a modern-day Hank Rearden of Atlas Shrugged, and he mentioned that if America becomes the world’s largest producer of oil and natural gas, it will result in millions of high-paying jobs.
“The only thing that could screw it up is the federal government getting in the way,” Cruz attested.
He said his American Energy Renaissance Act would allow for more unfettered energy exploration, open up even more resources, and allow the United States to pay down its national debt by using revenue from leasing federal land that would be paid into a Debt Freedom Trust Fund.
“We could both provide jobs through the private sector and demonstrate the fiscal responsibility needed to take care of the next generation,” Cruz stated.