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Former Shell Oil Company President John Hofmeister on energy policy in the U.S. and rising gas prices.
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The answer and this is of the you talked about many many times is is this -- business about we take the big oil companies.
Yet at the same time the government has never really had an energy plan -- all the way back.
To Jimmy Carter -- for -- But then we're import prices came down we said over the equity -- let -- go ahead and -- pocket from here on out.
We've actually had eight presidents including the incumbent promise energy independence in the US not a single one of them.
Stuck with a planned long enough to make a difference we've 120 congress'.
Over these last forty years make the same promise explicitly or implicitly nothing.
Our politicians are failing the American people.
And the American people have had an invisible tax placed upon them because of what I would call the -- responsibility.
And the lack of accountability.
Of our elected officials.
Both parties this is not party specific both parties have failed and the American people need to really say to their elected officials remember who's your boss.
We are.
We need an energy policy in this country that maximizes.
Our domestic natural resource production.
Which would increase jobs increase economic.
Churn in the economy it would be a rising -- to lift all ships if we had an energy plan for this nation.
We're also faced with a very unique Federal Reserve situation where they have brought these interest rates down to zero.
And held them there for the last couple of years NSA.
Put phony money into the system you know what that does John that.
That did devalues the dollar.
And oil is bought and sold based on dollars and so is the value of the dollar goes down the price of oil's gonna go up.
That's exactly right that's part of the rise in in prices but.
But it's only part the real problem with the one we face this year next year the next ten years China's demand is growing so rapidly.
And and why not they're buying twenty million cars a year in China they want the life that we've had for the last fifty years they can't blame for that.
But this country has got to take stock.
Of its own demand for oil take stock of its own natural resource base which is huge and let's start using natural gas.
For trucking let's start using natural gas to make -- -- all.
For flex fuel engines we can solve this problem and get off of OPEC imports and not worry about China.
But we need a plan to do that.
-- and you've talked before about the and I know you're not.
Even though you you were over the CO shell I mean you've also of previously before that.
Worked for a company that was a big energy users so you're kind of an all the above energy guy at least that's my perception of -- Correct me if I'm wrong so what about all these cars.
We've got natural gas but what are you finding you've got the electric cards you got the hybrids.
Is this enough to make a big difference.
If we had a plan and if we stuck with that plan over -- 102030.
Year period and that's what we need to do is be consistent.
Over a multi decade period.
We could break the monopoly.
Of oil.
Fueling all of our automobiles I'm a big fan of alternative.
Power sources for vehicles let's break the monopoly of oil.
You're right I come from a consumer's point of view.
25 years of my career were in energy consuming companies.
Followed by eleven years at that shell and so like I look at both sides of the equation.
And why not have batteries why not have hydrogen fuel cells watch for vehicles why not have more.
Mobile or more public mobility public transportation.
Like Europe and -- many parts of Asia where we could just people could still have mobility.
But it's not -- of an a and a car.
We can do all these things.
And we can still use oil and we can still use.
You know aviation fuel and everything else that we get from oil job -- Meister always great ever rationed goods -- thank you very much.
