Reagan-Carter Presidential Debate: on Energy & Oil

Jimmy Carter: Invest windfall profits tax in synthetic fuels & solar

CARTER: With the windfall profits tax as a base, we now have an opportunity to use American technology and American ability and American natural resources to expand rapidly the production of synthetic fuels; to expand rapidly the production of solar energy; and also to produce the conventional kinds of American energy. We will drill more oil and gas wells this year than any year in history. We'll export more coal this year than any year in history. This exciting future will not only give us more energy security but will also open up vast opportunities for Americans to live a better life and to have millions of new jobs associated with this new and very dynamic industry now in prospect because of the new energy policy that we've put into effect.

Ronald Reagan: Lower regulations on coal; explore for oil offshore in OCS

CARTER: We will drill more oil and gas wells this year than any year in history. We'll export more coal this year than any year in history.

REAGAN: This Nation has been portrayed for too long a time to the people as being energy-poor when it is energy-rich. The coal that the President mentioned: Yes, we have it, and yet 1/8 of our total coal resources is not being utilized at all right now. The mines are closed down. Most of this is due to regulations which either interfere with the mining of it or prevent the burning of it. With our modern technology, yes, we can burn our coal within the limits of the Clean Air Act. The other thing is that we have only leased out and begun to explore 2% of our Outer Continental Shelf for oil, where it is believed by everyone familiar with that fuel and that source of energy that there are vast supplies yet to be found.