There are a few very good reasons for this. First of all, Romney, by most accounts, isn’t conservative enough for most areas of the Republican party. Rice has gone on the record on more than one occasion to state she believes that a woman has the right to choose, although she believes in limiting the government’s ability to fund abortion and she believes in limiting late-term abortions. This issue alone would normally disqualify her from the ticket.
Then there is the Bush/Iraq factor. With conservative independents up for grabs, Romney doesn’t need to remind them why they voted for Obama in the first place. Rice would do that easily.
Lastly, she has no experience campaigning. She may have experience in Washington, DC, but that doesn’t give one experience in the grind and attacks that come with campaigns. Romney cannot make the same mistake the McCain did and think, “woman good, women will vote for women.” There are plenty of conservative, even conservative black women, in politics.
There are definitely better choices, even better choices for women, Mr Romney–look for them.