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Romney.Treynor.nationalsecurity.MP4

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Published on Oct 24, 2011

Gov. Mitt Romney
Rural Economic Roundtable
Treynor, Iowa
October 20, 2011

Transcript

Farmer and ethanol plant shareholder Karol King: After 2011 that concern shifted from we're going to have enough oil, but the problem is we're funding terrorism and it's coming back to haunt us. And I think until we can keep developing alternatives forms of energy -- ethanol being one of those -- and we can decrease our dependence on that amount of oil and that amount of money we're sending them in the Middle East, I think there's going to be a continual problem. I think entrepreneurship in this country and the ability to go ahead and create those alternative sources so that we can become a lot less dependent on that. And it's not just United States. Last year we produced 20 billion gallons of ethanol and that's a lot of fuel that we didn't have to import from the Middle East. If you look across the world that number is probably closer to 23 24 billion gallons of ethanol is produced when you look at Latin America, China, the European Union, Canada. So, all those sources have found ways of not importing Middle East oil. I hope you would continue to support that.

Romney: Thank you. I'm a believer of technology and my guess is that you're going to find us becoming more and more productive in our generation of ethanol and its efficiency. If not, why there will be other fuels that come along or we'll find other sources, but let's let the market go to work. I was not wild about the idea of the government investing in particular companies like Solyndra and saying "we think this company will succeed, we think that company will succeed." I believe in government supporting basic science and research and encouraging industry to grow and thrive. And I hope that our domestic sources of fuel can be grown here or found here and we can stop having to rely on foreign sources both from a national security standpoint and from the standpoint of our economy.

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