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Southern Company CEO Thomas Fanning on potential efforts to hike taxes on the energy industry to boost government revenue.
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Back now with Thomas fanning from southern companies -- CEO and president they make a lot of coal and a lot of -- of course goes over to China.
Again let's get -- let's make it very simple here Tom for viewers okay the president needs a whole lot of money much more.
Then the amount that he's gonna get from raising taxes.
You guys in the energy field are in -- in the middle of a bonanza I mean through because of fracking primarily.
We have this bonanza natural gas we have a bonanza and fracking for oil.
You guys are doing well the coal producers shipping coal over to China.
If I'm looking for money.
I'm looking at you guys for money don't you expect the president or some or congress or somebody put the squeeze on -- -- To find some way of increasing revenues from energy production.
Well look they're going to be seeking revenues from wherever they can get -- that would be such misguided approach to try and do that David we consume -- we don't created Marcella.
Here's the issue.
In 1960s.
Or so about 20% of GDP was driven by electricity.
Now it's about 60%.
I talked before the commercial break about growth capital.
Think about electricity or energy broadly as growth capital it is fueling a Renaissance of manufacturing in America.
Why in the world would you want to tax energy that is gonna serve to fuel our economic.
I don't know were probably they wanna do a lot of things that are cutting down on growth in this country got to leave it that Thomas fanning southern company CEO and president thank you sir appreciate Adam Shapiro -- -- that Reagan.
