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U.S., Canada and Mexico Meet to Discuss Energy

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    The Manhattan Institute’s Robert Bryce on the future of energy in North America.

  • Duration 3:14
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President Obama meets with leaders from Mexico and Canada today.

The main subject of today's summit of the White House yet the keystone pipeline and and the price of oil Robert -- -- -- -- hungry live with us now from Austin, Texas.

-- are -- happy -- Mexico and Canada are -- happy with America because we're not exploiting our -- -- resource that's oil resources.

Well.

-- and clearly candidate is not happy right now with the United States and particularly the Obama administration because.

The harper government has said clearly that they want the keystone XL pipeline to move forward and right away.

Obama has blocked at twice.

And to be clear I think the US is exporting its oil resources US oil production is rising rapidly.

I think that the key thing that -- were I the president -- today with Canada and Mexico.

-- be worried about Mexico and Mexico's falling oil production Stewart.

They're big field cancer -- has been declining very rapidly.

And Mexico is in danger -- in fact becoming a major oil importer.

It's already importing natural gas from the United States so.

Candidate she is is exploiting and -- very rapidly its oil and gas Mexico.

Desperately needs to overhaul its oil and gas production laws so that they can now exploit the resources they have.

Well look I do I take issue with you about is America are developing all of its resources oil resources because you can do a lot more drilling in the gulf we could do offshore drilling will go to and why and -- -- -- -- -- about -- we're not doing -- But look what why is this summit being held.

I want you think the president and the leaders of Mexico and Canada are gonna -- what it's all of and they appear before the press what are they gonna side.

Well they're gonna say that the obvious things that these are the countries that are involved in NAFTA that we -- strong trade partners and they are.

That's clearly going to be the case but I think the Canadians are going to continue to press.

Whether they say it publicly or not I don't know but they're clearly going to continue to press for the pipeline.

To me just -- you know jumping back to your point.

I take your point Stuart about there's definitely more the US could do in terms of oil exploration in the gulf I'm in favor of of drilling and and more have been for a long time.

But despite in fact it despite would -- the president saying -- oil production has risen during my term.

Oil production in the US is rising despite his policies and that's because of what's happening with shale oil and shale gas it's a remarkable turnaround.

I just wanna ask you -- Euronext could in this field what I've Iraqis saying that if we had a gung ho policy.

Let's go and get all the oil but we know we've gos in the United States territory.

We could be self sufficient in oil in a decade is that accurate.

-- well I.

I suppose it is probably troops Stewart although I would argue that it's it's somewhat irrelevant whether we produce that oil here it's going to be traded in in the world market at world prices.

But let me be clear on for as much domestic production -- exploration and production as we can get so.

I'm -- -- and I and the good news is that in spite of what the president has done that to domestic production is rising and and we will likely increase production domestically by two million barrels a day just in the next three or four years -- Robert Reich always a pleasure thanks for joining us general what we'll see against.

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