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

GIBSON: But this is not just reforming a government. This is also running a government on the huge international stage in a very dangerous world. When I asked John McCain about your national security credentials, he cited the fact that you have commanded the Alaskan National Guard and that Alaska is close to Russia. Are those sufficient credentials?

PALIN: But it is about reform of government and it's about putting government back on the side of the people, and that has much to do with foreign policy and national security issues.

Let me speak specifically about a credential that I do bring to this table, Charlie, and that's with the energy independence that I've been working on for these years as the governor of this state that produces nearly 20 percent of the U.S. domestic supply of energy, that I worked on as chairman of the Alaska Oil and Gas Conservation Commission, overseeing the oil and gas development in our state to produce more for the United States.

What I bring in terms of that credential is the know-how, how we can get to energy independence and a greater security for our nation by producing more domestically, by becoming less and less reliant on foreign sources of energy, those being controlled by regimes that do not necessarily like America.

GIBSON: You don't think we're ever going to reach energy independence, do you?

PALIN: We absolutely can, Charlie. But it's not just...

GIBSON: We consume, Governor, 25 percent of the world's energy and we have three percent of the world's natural resources. Now, you can't get to energy independence...

PALIN: You're talking about...

GIBSON: Not even the oil companies believe that.

PALIN: You're talking about a small percentage of nonrenewable resources in petroleum and in hydrocarbon. What we need to start focusing on -- and that's what I've done as governor here, also, and it's via funding hundreds of millions of dollars towards alternative energy projects, conservation, weatherization, those things that Americans should be doing right now to wean ourselves off the conventional sources of energy.

It's going to take an all together approach to get us towards that energy independence. Now, if, in the near future, we still are not there -- and you're right, Charlie, it's going to take decades before America actually gets there where we are not looking at our allies to be working with us on energy production to help energize our economy and energize our globe. But we've got to take the steps today to get us on that right path, and that's what we've done here in the state of Alaska.

GIBSON: National security is a lot more than energy. Let me ask you, have you ever given any kind of a command decision to the Alaskan National Guard?

PALIN: We have called up National Guardsmen to help in other states who have gone in emergency status, we have assisted there. But, Charlie, there is an inherent link between energy and national security.

GIBSON: I know, I'm just saying that national security is a whole lot more than energy.

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