Editor note: This three-part series began with A Free Market Energy Vision (Part I: Worldview) and continued with Energy for a Free Society: The ‘American Energy Act’ (Part II: Real World Reform).
In their essay on energy policy for the 111th Congress, Jerry Taylor and Peter Van Doren of the libertarian Cato Institute offered nine priorities to move the United States from energy statism to free energy markets.
But there are more areas of pro-private pro-market exchange reform on the federal level. I offer four–perhaps readers can add more in comments.
Nine Policy Recommendations (Cato)
I would add these priorities:
There are numerous other federal laws that impact energy non-specifically–that can wait until another day. But what other federal energy-specific laws should be considered for repeal?
And what would federal privatization mean for government revenue and debt reduction? Any estimates of asset values that might exist would be very interesting to know about.
(1) In 1998, pursuant to Congressional authority, the federal government (U.S. DOE) sold its share of the Elk Hills field in California to Occidental Petroleum Corporation for $3.65 billion–the largest privatization of Federal property in U.S. history.
In 2000/2001, the Department returned the undeveloped Naval Oil Shale Reserve #2 in Utah to the Northern Ute Indian Tribe in the largest transfer of federal property to Native Americans in the last century.
Most recently, the Department of Energy transferred two Naval Oil Shale Reserves–both in Colorado–to the Department of the Interior’s Bureau of Land Management for commercial mineral leasing, primarily for natural gas production and future petroleum exploration.