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U.S. Republican presidential nominee Mitt Romney (L) and U.S. President Barack Obama speak directly to each other during the second U.S. presidential debate in Hempstead, New York, October 16, 2012.Credit: REUTERS

Obama, Romney positions on energy future

By Ayesha Rascoe and Timothy Gardner | 16 October 2012

(Reuters) – President Barack Obama and Republican challenger Mitt Romney have vastly different strategies on how to regulate the newfound U.S. oil and natural gas bounty and the development of alternative energy sources.

Ahead of Tuesday night’s debate, advanced car battery maker A123 Systems filed for bankruptcy protection. The company was awarded a $249 million grant through Obama’s 2009 stimulus program.

Romney’s campaign quickly seized on the bankruptcy, saying it was another failure of Obama’s “disastrous” energy policy.

The Obama administration defended its investment in advanced battery companies, pointing out that more than 30 new or retooled plants are operating thanks to the funding.

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