On the campaign trail, Republican candidate Mitt Romney has unveiled a new plan that would radically alter the nation’s energy policy. On Thursday, Romney called for ending the longstanding federal regulation of oil and gas drilling and coal mining on government-owned lands, and instead transferring responsibility over to the states. The move would mark a huge win for oil and gas companies as states notoriously have weaker regulatory mechanisms than the federal government. Romney also vowed speedy approval of the Keystone XL oil pipeline from Canada’s tar sands to the Gulf Coast. Speaking in New Mexico, Romney said his plan would lead the United States to energy independence.

Mitt Romney: “This is not just a matter of economy and jobs and rising incomes and a growing economy and more tax revenues. It’s also more security. It means we don’t have to rely on people who in some cases don’t like us very much, that America will be able to stand on its own, will stand arm in arm with our friends from Mexico and our friends from Canada, and assure that we have all the energy we need to keep America powered and to make sure that our military never has to borrow from someone across the ocean that might not be our best friend.”

Romney unveiled his plan just days after taking in nearly $10 million from the oil and gas industry in two fundraisers. According to the New York Times, Romney’s staff drafted his plan with energy industry executives, including the billionaire oil tycoon Harold Hamm.