To view this clip, click here.

Transcript below:

ANDREA MITCHELL: We go now to Mike Pence, Republican leader who has been, of course, leading the opposition against this on The Hill. Congressman Pence, why is the President wrong about the effects of what he is now calling a jobs bill?
 
REP. MIKE PENCE: Well, look, we appreciate the goals of the President just expressed for energy independence. The Republicans have an all of the above strategy that would increase our domestic exploration for oil and natural gas. We'd subsidize the creation of new renewable forms of energy, including a tremendous investment in nuclear energy, but the Republican plan would actually create jobs, and the reality is what the President stepped to the podium today to advance, Andrea, will actually cost millions of American jobs, even if you count in the so-called green jobs that the President just referred to. One study after another suggests that, while there's different estimates on what the cap and trade legislation will cost each American household, there's really no dispute about the fact that this legislation will literally cost millions and millions of American jobs, if it goes into effect.
 
MITCHELL: His argument, of course, is that it will create jobs by creating a whole new industry, green industries around the country.
 
REP. PENCE: Well, I understand that, and you know, I appreciate what the President said today, but I also remember what he said in January of 2008 to the San Francisco Chronicle's Editorial Board. The President said, "Under my cap and trade system, electricity rates would necessarily sky rocket." He said that will cost money. They will pass that money on to consumers. I think the President was right in January. This talk about the cost of cap and trade just being paid by the polluters is, frankly, not consistent with what the President has said during his campaign, that while utility companies and manufacturers will incur the first cost of cap and trade, they will pass that cost along to consumers in higher costs, higher utility rates. And I think the reason why they're struggling so much to pass this legislation tomorrow here on Capitol Hill is because members of Congress and millions of Americans realize this is nothing more than a national energy tax, and Andrea, the last thing we need during this difficult economic recession is to pass a national energy tax that will literally cost millions of American jobs.
 
MITCHELL: Just in a couple of seconds do you have the votes to stop Nancy Pelosi from getting this through?
 
REP. PENCE: Well, last time I checked the Republicans are in the minority on Capitol Hill. But you know, I love to say a minority in Congress plus the American people equals a majority. If the American people tune in to what the Democrats are offering in the form of a national energy tax they look at the all of the above strategy the Republicans are offering for more domestic exploration, more nuclear power plants, more conservation, more wind, more solar, they're going to choose the all of the above energy strategy just about every time. We need to stop this national energy tax this week on Capitol Hill, and then we need to come together, as the President just admirably suggested, come together around that all of the above energy strategy and Republicans are ready to work on behalf of the American people to get that done.
 
MITCHELL: Mike Pence, Chair of the House Republican Conference, thank you so much. Congressman from Indiana chairing also the Republican Energy Solutions Group.
 
REP. PENCE: Thank you.