“We face serious competitive challenges globally unless we become serious with getting prices of energy down. It’s a great opportunity for America to develop technology to lead the world in energy efficiency as well as energy production. And whether it’s nuclear or liquefied coal, where we sequester the CO2, far more fuel-efficient automobiles. These are some of the incentives that have to be behind our policies with regards to our investments in new technologies like ethanol. “ – Mitt Romney 10/9/07 at Dearborn, MI debate
Summary: Mitt Romney on Energy Independence
- Build more nuclear power plants and reform regulations on existing plants.
- Expand oil exploration and drilling here in the U.S.
- Invest in renewable energy, such as clean burning coal.
- Utilize natural gas more effectively.
- Encourage private investment in energy technology.
- Don’t agree to policies that reduce only our greenhouse gas emissions, while allowing China and India to continue their current output.
Videos: Mitt Romney on Energy Independence
Mitt Romney Discusses Energy Independence With Glenn Beck
Mitt Romney Talks About Renewable Energy
Mitt Romney on Domestic Drilling
Quotes: Mitt Romney on Energy Independence
Mitt Romney on Renewable Energy and Nuclear Power:
“Whether global warming or energy security is one’s primary concern, everyone agrees that finding substitute fuels for oil is a good thing. Oil is what makes us most vulnerable economically and oil accounts for 44 percent of our carbon dioxide emissions. Both camps also agree that we should exploit renewable energy sources like wind, solar, and agriculture-based fuels, as well as maximize energy opportunities from cogeneration – which is the simultaneous production of heat and electricity from a single-fuel source. When it comes to nuclear power, coal, and increased domestic drilling, the agreement disappears. Nuclear power is a win-win; it’s a domestic energy source with zero greenhouse gas emissions. The McKinsey analysis determined that nuclear power poses the single largest opportunity to reduce global greenhouse gas emissions.” – No Apology, p. 239
Mitt Romney on Reinvesting in Oil Refineries:
“Big oil is making a lot of money right now, and I’d like to see them using that money to invest in refineries. Don’t forget that when companies earn profit, that money is supposed to be reinvested in growth. And our refineries are old. Someone said our refineries today are rust with paint holding them up. And we need to see these companies, if they’re making that kind of money, reinvest in capital equipment. But let’s not forget, where the money is being made throughout these years is not just in the major oil companies, it’s in the countries that own this oil. Ahmadinejad, Putin, Chavez–these people are getting rich off of people buying too much oil. And that’s why we have to pursue, as a strategic imperative, energy independence for America.” – 6/24/07 at Boca Raton, FL debate
Mitt Romney on Danger of New Energy Tax:
“When you put in place a new cap or a mandate, and particularly if you don’t have any safety valve as to how much the cost of that cap might be, you would impose on the American people, if you do it unilaterally, without involving all the world, you’d impose on the American people a huge new effective tax: 20% on utilities, 50 cents a gallon for gasoline–that’s according to the energy information agency–would be imposed on us. What happens if you do that? You put a big burden on energy in this country as the energy-intensive industries say, “We’re going to move our new facilities from the US to China, where they don’t have those agreements.” You end up polluting and putting just as much CO2 in the air because the big energy users go there. That’s why these ideas make sense, but only on a global basis. They don’t call it “America warming.” They call it “global warming.” That’s why you’ve got to have a president that understands the real economy.” – 1/30/08 at Simi Valley, CA debate
Mitt Romney on Natural Gas:
“Natural gas is an energy source everyone can love. It is abundant domestically, it can substitute for oil in a number of applications, and it emits very little greenhouse gas. Recently developed horizontal-drilling technology has transformed the natural gas industry by multiplying the amount of gas that can be extracted from old and new wells. Shale has that is abundant in North America is less costly to produce than oil, coal, and most other forms of energy. As vast new reserves are being opened, natural gas has suddenly become the most promising immediate oil substitute, as well as a much larger contributor to our overall energy requirements. America should be building gas pipelines as quickly as possible.” – No Apology, p. 241