Modern economies and life are dependent on energy production. For the sake of our children and grandchildren, Americans must continue to develop new and innovative energy resources.

Free markets adapt and respond to the changing needs of consumers with more efficiency and speed than any top-down government solution. Because of this, government should not be subsidizing any particular form of energy. Biofuels, alternative energy, traditional fossil fuels, and other power sources each fit into the market in different ways.

My administration will work to end government interference in energy pricing, allocation, and production. This will mean an end to distortions in the production cost and pricing of energy for consumers.

We will work toward completely eliminating fossil fuel and other energy subsidies. This will force energy producers to compete with one another in the free market. The end result will be cheaper energy for consumers and businesses.

Elimination of subsidies will free up funding for energy research. This will include production, storage, and transfer technologies. As a result, the DoE will work with private industry to increase the availability of new energy technologies that will benefit us all.