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Let's think of the -- last night and talk about another huge topping and that's the energy industry.
-- interesting -- just talking about tax cuts and basically if you think of energy -- gas prices the lower they aren't that's the equivalent of a tax cut for every business and every American out their -- feel right.
The less input costs to pay -- more money happen again so.
The energy industry went soon wells kinda like tax cuts for everybody out there let's pretty and from Washington DC as well -- down.
Our thanks -- anyway.
-- -- -- still out yes I -- -- I like that are used his senior economic advisor at the American Petroleum Institute thanks for coming on today.
I'd be really interesting to think you could be here to get your perspective.
On what each candidate said in debate number one in Denver last night on the -- -- on their energy policies.
Well I was very satisfying to see both of them focus on energy and oil and gas in the power of the is that this industry to bring new jobs to the marketplace I think that's a big plus.
And we -- with the right policies in place we could do a lot investing in America bringing new jobs maybe a million new jobs but 22 money.
Over a 10028.
Billion dollars in government revenue -- above where will be if we had policy that supports domestic developments so.
More hopeful no matter who wins were gonna see movement we're gonna see.
Folks really zero in on the power of this industry.
To make a big difference in the marketplace again and -- putting downward pressure on prices weakened to a lot here in America we haven't -- yet.
But we're on the threshold of being able to do it so.
We're excited and hopeful.
The whoever wins that they focus on energy and seem to have the power of this industry to create jobs and I think the numbers are.
Are coming in now we see that our industry creative 400000.
New jobs in the United States since this recession started.
-- America was Beijing has been hemorrhaging jobs five million lost.
We created added 4400000.
Home to to those numbers right now we're sporting nine million jobs in America right we think we do even more.
-- -- every his job that the oil and gas industry creates.
Three or four other jobs are created from that it kind of works like the housing industry every -- Billiton -- three jobs data that's right I want to bring in something -- yeah it's.
Governor Mitt Romney said last night during the debate sounds.
You know he's now willing gas production is up here in the United States but he does not credit President Obama for that take -- listen to this sound like last night.
Energy is critical the president pointed out correctly that production of oil and gas in the US is up.
But not due to his policies.
In spite of his policies Mr.
President all of the increase in natural gas and oil has happened on private land.
Not on government land.
And government -- your administration -- cut the number of permits and licenses in half.
If I'm president.
What do you make of that right -- the regulations that are really cramping our well testing industry.
Well governor Romney is right about that we have seen an exciting.
Development and oil and gas were bringing on a lot more.
Oil and natural gas into the marketplace that we had before.
But it's -- on private -- it we haven't seen a sharp drop off on federal lands and that is directly.
Associated not with the marketplace the markets -- -- for this development.
But with policy we've seen a dramatic falloff in permits we see areas.
Left off limits to development that really ought to be developed.
And we haven't seen -- support in the policy just this one policy.
-- that Keystone Pipeline would bring the 700000.
Barrels a day to our refiners in the Gulf of Mexico.
That's closing in on almost half of what we import from the Persian gulf right what are we bring that crude to market so there's a lot more we -- do.
And we want to see policy that supportive of that development you cannot be supportive.
Of oil and gas if you're suggesting that you want to add new punitive taxes on the industry that's not the way an industry grows so.
We want to see that development and we want us go -- that right direction invest in America and bring the jobs of revenue here.
Yeah and of course C issue is passing the economic environmentally friendly but I wanna talk for a second.
How poorly the cold -- in the natural gas industry trend now everybody knows and 42% of households in the US.
Heat their homes use coal as a electricity sources.
In their homes right but -- industry's leading -- the F 58.
The policies of the administration all those rules and regulations as well as being very cheap price and natural gas.
Mitt Romney is supportive of the coal industry correct.
Yes he has and what does that my understanding is very supportive of coal industry yes.
So what areas your thoughts then on natural gas are we gonna see the prices.
Become a wouldn't rise so that it is more competitive with -- -- and not just feeding -- at this.
Net when natural gases is competing with -- in the marketplace and and really support -- -- Let the market determined the fuel that we used let supply and demand determine that it's much better than the government picking winners and losers in the marketplace.
And it's one thing to advance and new fuels and technologies and we're very supportive of that effort.
But it's quite another to ignore the 62% of the fuel that we need in the United States is oil and gas.
And we want to go for those -- sources here at home.
And at -- all of the above strategy look at all of our resources we can afford to walk away from coal.
Or oil or natural gas story are -- biofuels we.
-- and we can't be picking winners and losers here.
Favoring one fuel over the other let the market say.
Which feel as the winner here from even as we move forward and did develop its safely and responsibly and that's what we need to do an excellent point let's let's take a listen to the president said last night on -- view on regulations in the energy industry.
-- -- And here tonight is not -- where we've been -- where we're going.
Governor Romney has perspective that serves.
If we'd cut taxes.
Skewed towards the wealthy and roll back regulations that.
Will be better off I've got a different view I think we've got to invest in education and training.
I think it's important for us to develop new sources of energy -- in America.
That we change our tax code to make sure that we're helping small business and companies that are investing here in the United States.
So that's pretty said but it seems to me like he didn't say too much right he wasn't specific and then look at I don't.
I don't think anybody is calling back for calling on a roll back of rules and regulations are calling for common sense rules and regulations.
They're calling for an end up.
Inundation of multiple duplicative.
Rules and regulations we have -- federal agencies looking.
At hydraulic fracturing ten let's get a handle on this.
And so we're just calling for real common sense not of elimination of rules and regulations but rules and regulations that work.
That allow for safe responsible development we don't.
We don't have that right now all right we have about a minute left and I finally want to talk about the green energy out there President Obama has been a big supporter.
Of green energy spending tens of billions of dollars on it.
This is what Romney had to say about the president's plans last night this is pretty aggressive let's take a lesson.
But but don't forget.
You put nine -- billion dollars.
Like fifty years worth of breaks into into solar -- wind.
Didn't it just -- that Solyndra.
And this current test Lennar one MF -- at a friendly city don't just pick the winners and losers -- pick the losers aren't so visited this is not.
This is not the kind of policy you -- -- have you wanna get America energy secure.
What do you make of that.
-- cylinder as well I think it's they have good.
A good point week we do hear a lot of that wind and solar I think -- -- -- be at growing an important segment but right now and and we hear about the doubling in wind and solar.
But they went from six tenths of 1% of our energy needs to one and a half percent of our energy needs.
Really focused on the 62%.
And and and we need government to really pay attention to the reality of that is an industry were supportive of wind solar geothermal and biofuels.
One out of every five dollars invested in those technologies is actually have been invested -- oil and gas.
But we're realist and were looking to all of the rest it was going to need no matter what our only -- is where we're gonna get this fuel.
Not if we're gonna -- it just where we want to do it here.
Camp rail lines you're you know you're -- -- you know mere facts thank you for giving answer perspective.
And it -- you always a hot button issue pleasure it is once again this time we're showing your website right now.
Thank you for coming on.
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