U.S. Chamber of Commerce CEO looks to energy for job growth

— -- The GOP debates have had a similar ring to them, with candidates blaming high unemployment on heavy regulation and expensive policies from Washington. After co-moderating the CNBC debate, I turned to Tom Donohue, who as head of the Chamber of Commerce, the pre-eminent pro-business lobbying organization in the U.S., is seen as the voice of Corporate America. I asked him what's holding back business from hiring. As an example of a major potential for job creation, he pointed to the Keystone XL pipeline, which last week said it may be able to win approval in six to nine months as its parent, TransCanada, negotiates with Nebraska and U.S. officials about a new route. Our conversation below is edited for clarity and length.

Q: The chamber sent an open letter to President Obama with ideas on job creation. What do you propose?

A: We can create a significant number of jobs without adding a massive amount of money to an ever-growing deficit. The idea with the greatest potential is to do a number of things in energy. There are very few countries that have as much gas, oil and coal, as well as some green energy, as we do. And we don't need to spend any money. Approve the XL Pipeline; it'll create 250,000 jobs. Let's go back into the (Gulf of Mexico). We've learned something from the leak. But we're going to lose all those rigs if we don't get going again. Let's dig for more oil and gas from North Dakota across the plateau of our country, in Alaska or offshore. We can put people to work, take them off public assistance, pay royalties to the federal government and bring companies back on shore.

There are things we can do without new legislation, without anything other than approval by the administration. Infrastructure and tourism can also create jobs. Bring more tourists to the U.S., which would put a million more people to work. All you need to do is help them get a visa and welcome them when they get here.

Q: After the Gulf oil spill, how do you quiet the critics who say environment and wildlife should take priority?

A: If we want to give environment and wildlife the priority over jobs for our fellow citizens and over a modern competitive society, we wouldn't be making it very long, because the primary issue Americans are concerned about is "a job for my family." We could do things in a thoughtful and environmentally friendly way and still establish energy security.

Q: The regulatory environment also keeps coming up. What rule changes would spark job creation?

A: We have to face the reality that we've been exploding the (size of) regulatory burden, particularly through health care, Dodd-Frank, the Environmental Protection Agency and the Labor Department. The EPA regulations have been aggressive. The regulations that are coming from new health care bills leave American companies cautious. At first, it wasn't going to cost any more. Now, it's going to cost a half a trillion dollars. The Labor Department is rewriting how we employ, how we pay and how we benefit. Dodd-Frank legislation requires 250 new regulations. It suggests 188 more regulations. It has been more than two years, and we've done only 12% of the regulations. And not the hard ones.

Q: Many countries are growing strongly, such as China and Brazil at 8%, and U.S. companies are growing there. How can we get them to bring some of the money made there back home?