Transcripts

"Commentary"-The Next President's Economic & Energy Choices

SUSIE GHARIB: With the presidential election just eight days away, we continue our special series of election commentaries, looking at the candidates' economic choices. Tonight, John Rowe, the chairman and CEO of Exelon has some thoughts on energy policies.

JOHN ROWE, CHAIRMAN & CEO, EXELON: Our next president will inherit a fragile economy, a war abroad and a warming climate. Responding to these challenges requires an effective energy policy. Unfortunately, our nation has not had one in 30 years, except to enjoy low-cost fossil fuels like coal and natural gas. Our need for energy must be met with the least reliance on unfriendly nations, the least impact on our climate and the least burden on the American economy. Five elements are key to an effective national energy policy. First, we must pass economy-wide climate legislation. Second, we must pursue greater energy efficiency. Third, we must provide support for renewables, ever mindful of their cost. Fourth, we must proceed with clean coal and next generation nuclear. Finally, we must use competitive markets to ensure innovation and investment. Exelon is not waiting for Washington to act. We have a plan to reduce or offset more than 15 million tons of greenhouse gas emissions by 2020. This is more than our current annual carbon footprint. We encourage other companies to set similar goals. I'm John Rowe.