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Former Shell Oil President John Hofmeister on the administration’s crackdown on hydrocarbon energy.
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John -- my stuff -- -- president of shell joins us from Phoenix John I'll bet you off fit to be tied on you know offs.
Well -- this has been an ongoing -- up with this administration.
I happen to be a Democrat so let me put -- put that in perspective but I've been extremely frustrated.
With the activities or the lack of activities of this administration.
When it comes to hydrocarbon energy.
Whether it's coal gas or oil we have got to have it.
The majority of the energy consumed by this nation now in the future for decades to come.
We'll be hydrocarbon based because the alternatives and I have no issue with wind solar biofuels buying somewhere down the road.
But we have just.
We have really cramp down on the ability of -- -- carbon companies to do what they do the consequence.
Comes right out of the pockets of consumers.
OK how way to listen to exactly what the president had to say in his statement yesterday lunchtime -- -- place.
Or make clear we all know the drilling before -- has to be a key part of our overall energy strategy.
We want.
US oil companies to be doing well we want them to succeed.
He wants to drill he wants oil companies to succeed it wants all companies to do well and you say -- It's 2012 it's an election year he has changed his rhetoric.
As we have moved towards the election.
He's trying to look like he has been in support of a so called all in all the above strategy when if you go back and look at the facts.
Part of the reason we're paying higher prices is the Gulf of Mexico has declined by some 300000 barrels a day of production.
Federal grants on broad public lands for oil expiration and gas expiration -- down 40%.
The only uptick we've seen Stewart is because the ingenuity.
And -- determination of private companies with private landowners.
What state permits has enabled some drillers many drillers in fact.
To increase production in places like North Dakota Pennsylvania.
Texas and so on it's -- with no help of the federal government the -- that -- five year plan 2012 to 2017.
Has no provision for any new resources from new basins.
In in this country.
And this notion of -- gonna shoot seismic off the coast of a mid Atlantic coast.
It is just that was required by congressional law years ago but now because of the high prices now they're gonna do something about.
Try this besides as you say it is an election year suppose the president releases some oil from the strategic -- Beats up on the oil companies allows this seismic reseller which I'm bought all this the price of oil and gas is no longer rising it's plateaued and it's coming down the president turns -- -- eight.
I did this might policies walked reelect me.
How's that for scenario.
-- I think it's quite likely but it won't be one released from the strategic petroleum reserve it will be a series of releases.
And we will -- our seed corn so -- we really have a dire emergency down the road which we could.
We have much less than the strategic petroleum reserve because basically the president wants to buy votes.
And he's very good at being divisive in a way in which people who are less informed or who care less about the issue.
Think well maybe he's done a good job and and don't hold it against them.
But this has been an ongoing problems -- for the last forty years this is not the first president to ignore the needs of the American people.
And we've had twenty congresses in the same forty year period ignore the needs of the American people.
I blame Democrats I blame Republicans I blame the entirety of the political process and the special interest money.
Which is that disabled this country from coming up with a reasonable energy plan on the future.
John John -- monster.
Joining us from Texas John how might that Democrat and former president of Shell Oil very interesting stuff John and thanks again for joining us appreciate it very.
