One-on-One With Rudy Giuliani
The U.S. should have an initiative as big as our first mission to the moon in order to break our energy dependence, Republican presidential candidate Rudy Giuliani told Cramer during Thursday's Mad Money.
As president, "you support everything possible that will make us energy independent," Giuliani said. That includes clean coal, nuclear power, hybrid vehicles, wind, solar and hydroelectric power. Giuliani also called for more refineries, as well as domestic oil and natural gas.
Coal especially is worth the investment, the former mayor of New York said, even if it means subsidies and other government help to make it happen. The U.S. has more coal than Saudi Arabia has oil, so it's a resource too important to ignore. Giuliani scoffed at the idea that coal won't affect transportation. It will "if you also do hybrid vehicles at the same time, and you take advantage of our electrical supply to drive vehicles as much as possible," he said.
Giuliani is opposed to bailouts as a solution to the mortgage crisis. For those who were cheated by unethical loan providers, help should be available, he said, but on the whole, a bailout allows people to make the same mistake later.
"By and large, the whole market here understood what was going on," Giuliani said. "It doesn't need a bailout. It needs the American president securing the rest of our economy," and he would do that buy lowering taxes, curbing government spending and deregulating the areas of the economy where it's inhibiting business.