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BP Capital Management’s T.Boone Pickens discusses how the future of U.S. energy will impact the election results.
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Horrible tickets -- -- right now on the energy issue that he said was gonna be first and foremost.
In this race and is that -- point -- certainly a beyond early voting in the debate about that.
That's a big issue in Ohio as well it's a big issue in Pennsylvania.
How do you think -- energy -- -- factors out in this race tonight.
Well it has to be a factor Katz both those -- -- and Pennsylvania.
Have become large producing states in the Marcellus.
And Utica shales so.
It'll be a factor because there's no question Obama Obama is saying attack.
-- -- gas they in the United States he wants ago.
With wind and solar and and falling gas you're going to be you with it probably for another fifty years so.
It's it'll be a factor.
Now you know there are a lot of people who are trying to dodge some magic.
To today's run up in the Dow even though was on low volume the some -- get on the belief that Mitt Romney was gonna become president elect tonight that might be a bit presumptuous.
But that those issues are the ones that would do well under Romney administration.
The solar and the ones that you alluded to would do well under another four years of Barack Obama.
If if that is the case let's -- Barack Obama is reelected tonight then for oil and gas what do you see happening.
Well.
If Obama is reelected you say Iran -- Obama -- -- front.
OK if he's reelected -- -- -- tough on the industry and it'll be tough on the consumer.
The 'cause if you if you are going and yeah EPA's been been tough on the industry which has been expand -- For the August producer when its expansion for long as producer that's gonna do is get passed along to the consumers a way it works.
And soul.
-- -- we've I think Romney wins tonight.
And -- industry does well and I think that's what the market was telling you today.
They -- to believe that Romney Williams.
Tom you know there's a lot of concern out there and it about just the tone.
After the election regardless who wins and we have this fiscal cliff we have already going on the same time.
And that cooler heads after the heated election prevailed -- get a deal done.
But there's not much time to get a deal done will be sequestration cuts that they're going to affect the end of the year it's reasonable the bush tax rates it.
That happened at the end of the year.
Well you'd be your best chance to bring your economy back is on the back of cheap energy.
And the United States has the cheapest energy in the world and and these candidates have not said there.
But that is that's a true statement we in the United States pay of the cheapest energy in a world.
Now's the time to rebuild the economy on the back of cheap energy.
We've done it before.
The industrial revolution was done on the back of cheap energy so it can happen and I think it will have.
All right well thank you very much -- tickets will be watching that that is a big it's a one of the five points of the Romney has to.
Getting jobs back to reinvigorating the energy sector and on chuckling at they -- that's probably -- political majority of these days but that was -- -- visited just of his.
