The poorest Americans use three time the energy as the percentage of their income as the average American does. This is going to disproportionately hurt the poor. It may make the whole electric grid unstable, depending on how it is enforced. And it does nothing for the climate.

We try to reward people according to the value they create, value they create in society and for the company.

If we are going to have a Fed, it should not fall into the tyranny of experts with the a fatal conceit that a few wise people can determine interest rates. Interest rates should be driven by the market, and people's time preference, and we see these boom-bust cycles.

Successful companies create value by providing products or services their customers value more highly than available alternatives. They do this while consuming fewer resources, leaving more resources available to satisfy other needs in society. Value creation involves making people's lives better. It is contributing to prosperity in society.

Both my parents were a tremendous influence on me. My father's influence came from - he decided well, probably before we were born that as he put it, 'I'm not going to have any kids who are country club bums.'

In America, the first thing we have to get rid of is entitlements for the wealthy, and at the same time, open up the economy to the disadvantaged.

I've devoted most of my life to understanding the principles that enable people to improve their lives. It's those principles, the principles of free society, that have shaped my life, my family, our company, and America.