You're watching...
Rep. John Fleming, (R-La.), on how Iran and Obama’s energy policies are impacting the price of oil.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
Residents energy policies we bring in Republican congressman John Fleming Republican of Louisiana the congressman a member of the house natural resources committee.
That voted to subpoena the Obama administration over its decision to impose a drilling moratorium in the Gulf of Mexico.
Congressman good to have you with us -- let let's turn first to these sanctions if we may.
How effective do you think they will be and how soon will we know whether or not they are having some kind of significant impact.
People who -- very supportive of Israel.
And I do support tough sanction thoughts on Iran but.
I think there will see results very quickly.
Perhaps already have seen some results whether it's enough to shut down their nuclear ambitions -- really have no idea.
And what will be the impact.
A number of votes.
-- CEOs with remind spoken analyst in the marketplace are saying that Iran is responsible for much of the area.
The noise it is driving prices higher.
Do you expect there to be any significant impact on world prices and arguably them on domestic prices.
Yeah Lou I I really think it's gonna aggravate this spike in oil prices that were already experiencing.
And that's why I'm critical of the president had he been allowing us to drill domestically more.
Instead of cutting cutting back on federal lands and offshore.
I -- prices would be much lower today and we would be in much better position to face this proposition.
Senate Republicans yesterday rejected the president's call to to raise taxes on oil companies.
Two eliminate tax breaks.
For these oil companies -- from four billion dollars a year worth.
Your reaction.
Well first of all as you know -- -- companies don't pay those taxes the consumers pay those taxes are pass along to them.
So all that would do is even make the gas prices go higher.
And secondly remember that.
In terms of subsidies oil companies don't get the kind of subsidies that you're talking about with wind and solar.
They get some tax credits and business deductions that -- show us why should tax breaks lacked substance right because in fact oil depletion -- any number of others.
Instances are early akin to.
Depreciation for other manufacturing business any other business apple or Microsoft would get exactly the same thing.
It be this administration.
Is held bent.
To shut down it appears fossil fuels with the possible exception of natural gas.
You.
You you've called.
You've been dealing with this issue this administration for some time now.
-- it what point does is they're going to be a moment of clarity do you think.
Here in which the administration understands.
That there has to be a bridge to a future.
A future by the way that can be measured rather than -- Months or years as measured in decades.
Before we can move to alternative fuels sustainable fuels that will provide the -- of American energy.
Ballou this administration is bound and determined to push us into the alternative energy marketplace.
But unfortunately the technology is not there yet.
We end solar cost as much as 56 times what it does for carbon based energy's.
All of the new innovations are occur occurring actually in carbon based for instance in my own district.
-- in north Louisiana we have a company -- -- standing up that will actually.
Require natural gas to be formed -- -- gasoline.
That warning general require -- so you see all the technologies the innovations.
Are actually making those cost go down while the others continue to remain high.
And of course there will be a market reaction as well as perhaps a political reaction congressman good to have you with us thanks for being.
