What I see are people who want affordable energy. They want strong environmental standards - they want a lot of things - but first and foremost they want affordable energy. And if you want affordable energy, you want oil, gas and coal.

About 75% of the price of gas is really dictated by crude oil. At the heart of the issue is increasing demand over a period of many years around the world. World crude oil consumption now is close to 90 million barrels a day. Most of the growth in demand is coming from China and the developing world.

What I see are people who want affordable energy. They want strong environmental standards - they want a lot of things - but first and foremost they want affordable energy. And if you want affordable energy, you want oil, gas and coal.

Price creates incentive, and energy will be developed if there's demand for it at the price you can develop it.

If you look around the world, the countries with the best environmental practices are the wealthiest. There's a reason for that. If you're worried about where your next meal is going to come from or shelter over your head, your focus is on those things.

Despite some struggles of our own, Americas business and economic system remains the envy of much of the world.

Historically, the United States has had a wonderful energy policy. We're blessed with a diversity of resources. We have oil. We have gas. We have coal. We have nuclear. And renewables. And as a result, one of our biggest competitive advantages has been affordable energy. You need a strong economy and you need affordable energy to fuel that economy.