"Good afternoon ladies and gentlemen. I want to thank the Detroit Economic Club for this opportunity and to thank you for taking time out of your very busy schedules to be here with us this afternoon. I certainly hope to make it worth your while.

I want to talk to you about a very serious subject... Delivering America’s energy security.

There’s a lot of discussion today about energy independence.

My view is that energy independence is neither possible nor is it desirable. In fact, calling for energy independence creates uncertainty amongst our international trading partners and hinders investment in new international energy supplies.

The real key for us is energy security, which I define as having an adequate, reliable and sustainable supply of energy to meet the needs and aspirations of private citizens, commercial enterprises and public sector functions."

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