Full Transcript: Charlie Gibson Interviews GOP Vice Presidential Candidate Sarah Palin

PALIN: Well first maybe Tillerson doesn't believe that we'll ever become energy independent in terms of only using domestic supplies of energy because Exxon has huge developments in foreign countries where they're making world record, mind-boggling profits every quarter billions of dollars in profits. So maybe we're not on the same page on whether the drive should be towards energy independence, domestic supplies of energy -- I am a strong proponent of that though. American resources with American ingenuity and new technology brought to you by Americans workers—that's what we're going to be working for in the McCain-Palin administration.

Now as for prices of fuel -- no, I don't think -- you go ask anybody who fuels up, even in the sate of Alaska -- these guys are heading out there moose hunting, they're fueling up their boats right now—trailing up to the Koakuk (ph) bases -- they're going to get in that water and start hunting moose and filling their freezer with sustenance, food—they're paying a lot for gas. They're paying nearly 5 bucks a gallon -- that's too much and a lot of it has to do with supply of course. Here in Alaska we have the billions of barrels of oil still warehoused underground. We have the hundreds of trillions of cubic feet of clean green natural gas that's underground, that's off shore. It's being flared off and reinjected right now as oil production takes place there's a lot of opportunity to tap those resources and flow them into hungry markets --- not just here in Alaska -- but across the US.

GIBSON: But we're paying far less than they are in most other places in the world. Is that right? Should we continue -- or should we let gas prices bubble up to where they are on the world market?

PALIN: No, we should not. We should supply more into these hungry markets but what Americans need to do is -- we gotta stop acting so spoiled when we talk about these nonrenewable sources of energy that we have been so spoiled in utilizing and not really caring so much that once they're gone, they're gone. We have to be cognizant of the need to conserve. So that's going to be a part of our long term energy plan also, the conservation and the weatherization too. That's what we're doing up here in Alaska. We're funding a lot with state revenues allowing people here in Alaska to conserve and weatherize their homes and their vehicles so we quit wasting so much. That's going to lead us to that energy independence also—once we quit utilizing so much of it.

The following is a transcript from ABC News' Charles Gibson interview with Republican vice presidential candidate Sarah Palin, on September 12, 2008, at the Palin home in Wasilla, Alaska.

GIBSON: Governor, John McCain and you are now talking about the GOP as a party of change. We've got a very sick economy. Tell me the three principal things you would do to change the Bush economic policies.

PALIN: And you're right, our economy is weak right now and we've got to strengthen it, and government can play an appropriate role to strengthen the economy. Our 6.1 percent unemployment rate is unacceptable, also, across our nation. We need to put government back on the side of the people and make sure that it is not government solely looked at for all the solutions, for one.

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