Lowering Gas Prices: Contrast Between Obama, Romney

Obama wants to build on green energy, create jobs; Romney pushes for drilling, coal plants.
3:00 | 10/16/12

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Transcript for Lowering Gas Prices: Contrast Between Obama, Romney
Energy secretary. Steven -- has now been on record three time stating it's not policy of -- department. To help low gas prices you agree with secretary -- that this is not the job in a teapot. The most important thing we can do. Is to make sure we control. Our own -- So here's what I've done since I've been -- We have increased oil production to the highest levels in sixteen years natural gas production is the highest it's been. In decades. We have seen increases in coal production. And -- employment. But what I've also said is we can't just produce traditional sources of energy we've also got to look to the future. That's why we doubled fuel efficiency standards on cars that means that in the -- the next decade any car you buy. You're gonna end up going twice as part of gallon -- That's why -- doubled creek clean energy production like wind and solar and biofuels. And all these things have contributed to us. Lowering our oil imports to the lowest levels in sixteen years. Now I want to build on that. And that means yes we still continue to open up new areas for drilling. We continue to make -- it a priority for us to go after natural gas we've got potentially. 600000 jobs and a hundred years worth energy right beneath our feet of natural gas. And we can do it environmentally sound way. But we've also got to continue. To figure out how we have -- fission energy because ultimately that's how we're gonna reduce demand and that's what's gonna keep. Gas prices lower. Now governor Romney will say he's got an all the above plan basically is planning its. To let the oil companies write the energy policies. So he's got. The oil and gas park but he doesn't have the clean energy -- And if we are only thinking about. Tomorrow or the next day and not thinking about ten years from now were not going to control -- -- economic future. Because China. Germany they're making these investments. I'm not go to -- those jobs of the future. To those countries I expect those new energy sources to be built right here in the United States that's gonna help Jeremy get a job also gonna make sure. -- you're not paying as much for -- Governor promise that -- -- let's look at the president's policies are right as opposed to the rhetoric because we've had four years of policies being played out. And the president's right in terms of the additional oil production. But none of it came on federal land. -- that affect oil production is down 14% this year on federal land and gas production is down 9%. Why because the president cut and -- half the number of licenses and permits for drilling on federal lands and in federal waters so where the increase come from. While a lot of it came from the Bakken range in North Dakota what was his participation there. The administration brought a criminal action against the people drilling up there for oil this massive new resource we have. At and what was the cause a twenty or 25 birds were killed and they brought out a migratory bird act to go after the -- a criminal basis. Look I want to make sure we use our oil. Our coal. Our -- our nuclear our renewable -- I believe very much in our renewable capabilities ethanol wind solar will be an important part of her energy mix. But what we don't need is to have the president keeping us from taking advantage of oil. Coal and gas. This -- not been mr. oil or mr. guests are mr. Kohl talked to the people that are working of those industries I was at in coal country. People -- my arms and say please save my job. The head of the EPA said you can't build a coal plant. You'll virtually it's virtually impossible given our regulations when the president ran for office he said if you build a coal plant you can go ahead -- go bankrupt. That's not the right course for America. Let's take advantage of the energy resources we have as well as the energy sources for the future and if we do that. If we do what I'm planning on doing which is getting us energy independent. For North America energy independence with -- eight years you're gonna see manufacturing jobs come back because our energy is low cost. They're already beginning to come back because ever abundant energy I'll get America and North America energy independent I'll do it by more drilling. More permits and licenses. We're gonna bring that pipeline in from Canada how on the world the president said -- -- that pipeline I will never know. This is about bringing good jobs back for the middle class of America and that's I'm gonna do. President let me just -- -- -- contribute to that get the gist of this question which is. Are we looking at the new normal -- tied to the tomorrow morning -- -- -- wake up and fill up and it will find that the price of -- over four dollars a gallon. Is it with the within the purview the government to bring those prices down or are we looking at the new. Normal -- there's no doubt that world the -- gone up our production is going up and were using oil more efficiently. And very little what governor Romney just said it's true. We've opened up public clients. Were actually drilling more on public lands than in the previous administration. And Mike Dupree -- present was moment. And natural gas is just appearing. Magically we're encouraging. And working with the industry. And what are your governor Romney say he's a big -- -- Keep in mind when governor when your man governor Massachusetts Houston probable coal plant and -- -- and served. This plan tilts. And took great pride in shutting it down. And now suddenly your big champion -- -- what I try to do is be consistent. -- respect to something like coal we made the largest investment in clean coal technology. To make sure. That even as were producing more -- were producing a cleaner and smarter. Same thing with the -- same thing -- natural gas and appropriates our oil imports are down the lowest levels. In twenty years. Oil production is up natural gas production is up and most importantly were also start to build cars. That are more patient. And that's creating jobs that means those parts can be exported because that's the demand around the world. And it also means that it'll save money in your pocket that's the strength you need and all the -- tragic that's what we're gonna do in the next four years. But that's not what you've done in the last four years. That's a problem. In the last four years you cut permits and licenses on federal land in federal waters in half not through government run so how much you cannot -- by how much to kind of by -- Governor we have actually produce more oil and I'll come off patent licenses -- permits on federal land of federal waters governor -- here's what we get. Our whole bunch of welcome I don't I don't try to question and the question was how much like at the -- answer -- Japan on black. I'm happy to answer the question and it is here is what happened. You credible whole bunch of oil companies. Who had leases on public lands that they weren't -- So what we said was. You can't just sit on this for 102030. Years decide what you want -- -- when you wanna produce. When it's most profitable for -- these -- public -- So if you want to drill on public lands you use it or you lose -- -- -- what we did was take away those leases and we are now re letting them. So that we can actually make -- and production -- private and government last question down. Order reduction act government land of oil is down fourteen government and production -- -- does that 9% it's just -- -- it's actually true. Look there's no question but the people recognize that we have not produced more oil and gas on federal lands and federal waters and coal. Coal production is not a cold jobs and out of I was just at a coal facility -- some 12100 people lost their jobs. The right course for America is to have a true all of the above policy I don't think anyone really believes. That you're a person is -- pushing for oil. And gas and coal you'll get your chance at a moment I'm still speaking but and the answer is I don't believe people -- -- that's the case because I've I've that was -- a question -- that was a statement. I don't think the American people believe that I will fight for all coal and natural gas and the proof the proof of whether strategy is working -- not. Is what the prices that spring at the pump. If you're paying less than he paid a year or two ago whether the strategy working. Which are paying more when the president took office -- pricey gasoline here at NASA -- was about about 86 ago. Now it's four bucks a gallon. Price of electricity is -- if the president's energy policies are working you're gonna see the cost of energy come down. I will fight to create more energy in this country to get America. Energy secure and part of that is bringing in a pipeline of oil from Canada. Taking advantage of the oil and coal we have here drilling offshore and Alaskan drilling offshore Virginia where the -- wanted those things will get us the energy we need. Mr. President could you address because we did finally get to gas prices here could you address. What the governor said which is if you -- energy policy was working the price of gasoline would not be four dollars a gallon well yeah. Her but about what the governor -- -- -- took office the price of gas William was 18186. -- that. Because -- economy was on the verge of collapse. Because we -- about to go through the worst recession since the Great Depression. As a consequence. Of some of the same policies the governor Romney is now promote. So it's conceivable the governor Ronnie could bring down gas prices because what his policies we might be back and that same mass. What I want to do. Is to create an economy that is strong. And at the same time produce energy and -- respect to this pipeline the governor Romney keeps on talking about we. -- -- we built enough pipeline to wrap around the entire earth wants. So. I'm all for pipelines I'm -- for oil production when I'm not for is just ignoring the other half -- the equation so for example on wind energy when governor Romney. Says these are imaginary jobs when you've got thousands of people right now and -- Right now in Colorado. -- working. Creating wind power with good paying manufacturing jobs. And the Republican senator and that's in Iowa is all for providing tax credits to help this. Work and governor Romney says I'm opposed I get rid of it that's not an energy strategy for the future and we need to win that future and I intend to let it as -- the united I -- I.

This transcript has been automatically generated and may not be 100% accurate.

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