Richardson seeks to earn label of ‘Energy President’

New Mexico Gov. Bill Richardson (D) outlined an ambitious energy plan yesterday that contains a number of short-term mandates and asks the American public to “sacrifice for the common good.”

The soon-to-be-official 2008 candidate and former energy secretary said he is running to be “the energy president.” He stressed setting near-term goals and made his declarations in the form of pledges, as opposed to goals.

{mosads}He promised to turn his attention to energy on his second day in the White House, after ending American involvement in Iraq on the first day. He will make his candidacy official Monday in Los Angeles.

He deflected questions about his stock options in an oil-refining company, saying they are of relatively modest value compared to the assets of other candidates. Richardson is advocating a move away from fossil fuels such as oil and toward renewable energy.

“When John F. Kennedy challenged this country to reach the moon, he challenged us to get there in 10 years, not 20 or 30 or 40,” Richardson said in a speech at a New America Foundation conference in Washington. “On energy policy, we need to change fast or sink slowly.”

Most of Richardson’s energy plans would be effected by 2020, a shorter time than many proposals but still stretching beyond his potential presidency. He said if Congress and the American people cooperate, he could reduce oil dependence by between 6 million and 10 million barrels a day by that year.

Currently, the United States consumes about 21 million barrels a day.

He said the most important step is pushing low- and zero-petroleum plug-in cars, which he estimates would save 2 million barrels a day. He said he would hold a “two-day White House plug-in summit with automakers, utilities and labor” within 30 days of taking office.

He also pledged to move fuel economy standards to 50 miles per gallon, reduce carbon in liquid fuels by 30 percent and switch to electricity and renewable fuels for alternative modes of transportation such as ships, trains, trucks and planes, all by 2020.

Richardson also called for increasing the renewable portfolio standard, which requires a certain amount of renewable energy to be used in electricity, to 30 percent by 2020 and 50 percent by 2040.

He set greenhouse gas emission cuts for 20 percent by 2020 and 80 percent by 2040, and he said cap and trade, not a carbon tax, is the answer because a carbon tax is not a mandate.

Sen. Chris Dodd (D-Conn.), another presidential candidate, advocated a carbon tax in his recently revealed energy proposal.

Richardson revealed on his personal financial disclosure this week that he holds between $250,000 and $500,000 in stock options with Valero Energy Corp., the nation’s largest independent oil refinery. He also owns stock in the company and earned money last year from the sale of another oil company.

Richardson sat on Valero’s board after departing as energy secretary.

“I had to earn a living after I left the Clinton administration,” Richardson said. Pressed further, he added with a smile: “This is small amounts of stock. Why don’t you read what the other guys have?”