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Like Obama met with the nation's governors yesterday with the governors unanimously asking for billions of dollars in federal funding to help pay for among other things rebuilding infrastructure.
Joining us this morning for Fox Business exclusive as Michael -- -- the chairman and CEO of American Electric Power good to see you thank you very much nice to be here.
You must be pretty thrilled the president elect Obama has a plan here fiscal stimulus plan that includes infrastructure building and wanted to -- components of that is electricity grid.
What would you like to see him do what kind of conversations are -- are you having with members of his team.
Well clearly building out the transmission is very essential piece of bringing renewable energy into the mix doing the Obama green energy plan it's an essential piece of that if you think of the United States.
Yesterday our company announced the potential of very large wind delivery system -- the winds of North Dakota and -- map on Chicago area those kinds of transmission facilities need to be built.
Different from a lot of industries we really don't need the government support -- that what we really need is an enabling legislation today.
The way that the -- high voltage transmission lines which go cross state boundaries -- bill.
Everything to do -- state by state approval rather than a Federal Energy Regulatory Commission approval so we need some legislative fix it appears -- -- The senate majority leader Reid has spoken to that issue as well as senator bingaman who.
It's going to be a proponent for renewable portfolio standards you could use the example of.
What happened in South Africa as an example of the risks to what could happen to the US economy explain why that story is so important and why we should.
Experience a wake up call because of it.
There -- no question we need to add additional generation of the US fleet I'm not -- to subscribe to the IAEA theory that electricity will go by 30% in the next 1020 years.
But it clearly will grow the US economy continues to be more electrified if you saw.
-- Molly's announcements yesterday at -- he intends to put more electric vehicles in the mix as early as 2010.
All of those of course will be charged at -- on the current electric system we need to build more generation whether it's wind or solar nuclear clean coal.
If we don't do that.
Within a half a decade maybe a decade we'll find ourselves.
You know rotating -- basis because we simply run -- electricity so South Africa is there North Korea is there a number of countries and the international.
Serena are there already.
You're investing a lot of different avenues right now you're known as being one of the best developer of transmission lines in some very very big projects but you're also doing different things with CO2.
We walked me -- What are the realistic objective as to.
Where were going with electricity -- played Fort Worth 510 your game plan.
Well look there's no question we need to develop energy conservation that's the first in the most appropriate step to take and I think every utility across the country is hard at work with that.
But above and beyond that we need to add to the generation mix the renewable sort of spoken to -- your first question.
And ultimately those point 47 power plants run.
Every minute of every day you NI.
And all Americans when we -- -- who don't think much about where it came from it doesn't dual socket it comes out of a very large.
Conversion facility that take some fuel in terms in and electricity so.
We need to do that to put Cole in play however when you look at the global warming challenges that we and other utilities face all over the world.
We -- find the technology to capture that carbon -- -- that carbon in underground.
Storage capacity all of which is doable to simply needs to be done.
We'll have that fifteen seconds here pres elect Obama has not selected his secretary of energy yet cordial like sustainable.
Someone who has a basic understanding of those kinds of challenges that it would know once you're forgetting or that the Department of Energy is very massive undertaking and about half of -- assignment is energy.
Half of that is nuclear weapons control and of fuel recycling and all been very good job.
Michael -- -- a pleasure talking to -- thank you so much for joining us and I hope you'll come back we'll have more time together to talk about at this particularly gets in office because I imagine you're gonna be -- and -- executives it's gonna have been saying what it is.
To have that opportunity.
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