Mitt Romney on Energy & Oil
Former Republican Governor (MA)
PAUL: I've opposed this. I approach it from a state's rights position. What right does 49 states have to punish one state and say, "We're going to put our garbage i your state"?
ROMNEY: I don't always agree with Rep. Paul, but I do on that. The idea that 49 states can tell Nevada, "We want to give you our nuclear waste," doesn't make a lot of sense. I think the people of Nevada ought to have the final say as to whether they want that, and my guess is that for them to say yes to something like that, someone's going to have to offer them a pretty good deal, as opposed to having the federal government jam it down their throat. And if Nevada says, "Look, we don't want it," then let other states make bids and say, hey, look, we'll take it; here's the compensation we want for taking it. Let the free market work. And where the people say the deal's a good one will decide where we put this stuff.
And it basically would slow down our economy without helping the environment at all, because major users of energy would take their production to countries like China that wouldn’t sign the deal.
It is basically saying the cost of global warming would all be borne by American rate-payers and consumers. He just doesn’t understand how the economy works.
A: We spend about $4 billion a year right now on energy research to try and help us become less energy dependent on foreign sources. And I think over the coming years we need to increase our investment to become energy independent from about $4 billion a year to about $20 billion a year. Obviously, that has got to grow gradually because there are not a lot of places now that do the kind o research we need to do to get ourselves energy independent. But that’s not just to bail out the automobile industry. That’s not what I have in mind. I’m not looking for a bailout at all. Instead, it’s saying that where we invest, we tend to do very well.
A: Look at Washington. They gave it CAFE standards, which hurt. Some Senators are talking about a new form of tax on energy in this country, which would make it even harder on the domestic companies.
Q: Well, their point is that you have got to do something about global warming. Isn’t that your understanding?
A: Oh, sure. And there’s nothing wrong with dealing with global warming. But there is a big difference between talking about global warming, which requires global solutions, and the idea of America warming. No one talks about America warming. If we’re going to have solutions that deal, for instance, with a cap in trade program or a BTU tax or anything of that nature, it has to be global in its sweep. But Sen. McCain’s proposition is that we do this as America only. A unilateral effort would only cause higher costs here, and give the advantage to nations that already have a substantial cost advantage.
“I will initiate a bold and far-reaching research initiative--an Energy Revolution. It will be our generation’s equivalent of the Manhattan Project or of the mission to reach the Moon.“
”While scientists are still debating how much human activity impacts the environment, we can all agree that alternative energy sources will be good for the planet. For any and all for these reasons, the time for true energy independence has come.“
GIULIANI: I think we have to accept the view that scientists have that there is global warming and that humans contribute to that. It’s frustrating and really dangerous for us to see money going to our enemies because we have to buy oil from certain countries. We should be supporting all the alternatives. We need a project similar to putting a man on the moon.
ROMNEY: Rudy Giuliani is right in terms of an Apollo project to get us energy independent, and the effects of that on global warming are positive. It’s a no-regrets policy. It’s a great idea. [We need,] as a strategic imperative, energy independence for America. And it takes that Apollo project. It also takes biodiesel, biofuel, cellulosic ethanol, nuclear power, more drilling in ANWR. We have to be serious also about efficiency and that’s going to allow us to become energy independent.
A: 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.
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