Obama, Romney Tangle Over Oil Permits

GOP candidate says the president's actions have hindered oil production.
3:00 | 10/16/12

Coming up in the next {{countdown}} {{countdownlbl}}

Coming up next:

{{nextVideo.title}}

{{nextVideo.description}}

Skip to this video now

Now Playing:

{{currentVideo.title}}

More information on this video
Enhanced full screen
Explore related content
Comments
Related Extras
Related Videos
Video Transcript
Transcript for Obama, Romney Tangle Over Oil Permits
In the last four years you cut permits and licenses on federal land in federal waters in half not -- government run so how much you cannot for by how much to kind of by -- Governor we have actually produce more oil know how much ought pet licenses and permits and federal Atlanta federal waters governor Romney 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 Mohamed 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 lands. So if you want to drill on public lands you use that or you lose -- -- and so what we did was take away those leases and we are now re letting them. So that we can actually make -- And production a private and government -- -- -- down order reduction -- government land oil is down fourteen government. And production messages that 9% it's just not for 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 -- of the coal facility -- some 12100 people lost their jobs. The right course for America is to have a true all of the -- policy I don't think anyone really believes. The chairperson 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 are that's the case because I've I wasn't 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 working -- not. Is what the prices that -- at the -- If you're paying less than you paid a year or two ago whether the strategy working. Which are paying more when the president took office -- price of 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 media wanted those things would 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 while the governor. That about what the governor to -- survived took office the price of gasoline 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 promoting. So it's -- -- the governor -- could bring down gas prices because with his policies we might be back -- that -- --

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

{"id":17494863,"title":"Obama, Romney Tangle Over Oil Permits","duration":"3:00","description":"GOP candidate says the president's actions have hindered oil production.","section":"Politics","mediaType":"Default"}