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There are reports of president elect Obama putting together.
-- short listed candidates for the secretary of energy cabinet position.
It's going to be a key appointment and one that will have a big bearing on the day to day operations of our next two -- And Clark is CEO -- technology pioneer in geothermal water energy development and Walter Gail Goodrich.
Is the vice chairman and CEO -- Goodrich Petroleum good morning gentlemen thank you so much for being here.
Good morning and it was -- idea let's get started with you tell me how important is the selection and of the next energy secretary and what might it suggest about the Obama administration.
Well think it's extremely important as to who we picks in the team that he puts around him.
Clearly in our view a natural gas needs to be a focus.
Natural gas is both clean and green it's abundant the industry is demonstrated that we can.
Grow volumes in fact natural gas will be up probably eight to 10% this year -- last year.
And most importantly it puts Americans to work so.
You know I think it's important they focus on the industry as we talk about.
Our dependence on foreign all clearly natural gas is the go to fuel and we think the team are -- focusing on that.
They had taken no way.
Person or two will be totally agree with you probably a lot more than that yeah Brent let me walk out walking through here.
You're in the geothermal space and you've had some great success why is that one of those potential solutions that could help.
Take our independence off from foreign oil.
Well we believe that any type of energy plan needs to be comprehensive plan not just a red plan are blue planned that are a red white and blue plan.
If you would which moves this country into energy independence and we -- geothermal particularly using razor technologies.
Approach is one of the keys that would needs to be applied here.
Thank you for people who don't understand or know all of the -- that the -- less opportunities that we have would geothermal energy.
Where in this country do we get the best bang for our -- in terms of geothermal energy and how explosive could it -- it.
Well it's it could be very explosive in fact as much as a third of the country's electrical power production could come from geothermal but.
It's predominately western United States.
Phenomenon with regards aware that geo -- as.
But one thing Alexis that you might want to keep in mind is that this technology that we're deploying air razor.
Is not just for geothermal it's also waste heat recovery so it really has application all across the nation.
You know what is we've been seeing -- is a short list of names -- to cool.
Senator president elect Obama I -- to get used to that would select as indeed the potential you know energy secretary.
You have names like governor Ed Rendell governor Kathleen deadliest and -- go through me weeding and he -- names like have.
And that CEO of General Electric believe -- not get in now but we're showing right now.
All the potential names though Wesley Clark governor and made -- sending.
The list is is pretty large at this time deal what do you want what are they key components.
When you look at the potential candidates out -- -- selecting the next energy secretary.
Well I think party affiliation is certainly not not a key in my mind but someone has a good understanding of the industry.
How it works how it functions.
We're incentives need to be to to increase activity increased drilling.
And therefore increase supplies you know if we if we retreat back to a policy that says.
-- -- companies are making too much money and we're gonna take it.
I think the end result will be -- have decreased activity decreased production and increased independence so.
Someone who really understands the business understands the economics.
Understand that works would be.
Key in my mind.
You know -- what did out well wolf we've seen in terms the pullback in energy prices mean we've we've seen it across the board obviously and you know from 147.
Into the mid sixties here.
Does this take this conversation off the table you concerned.
That we're not gonna make the progress that we hope we would make.
I think that's a concern but I you know I think that the industry certainly understands that.
The fuel companies did not set the price -- a 140 and they certainly are not setting in now roughly seventy.
We have a long way to go all the projections that we see.
For both oil and natural gas and energy consumption particularly here in the United States.
Says that we need to we need to increase our our drilling for crude oil for natural gas.
Alternatives I think is a great.
Addition we've actually got to have alternative step up so.
Well I think it's very important that we we stimulate activity and stimulate investment.
All right we'll rent and -- got to leave it there because the waiting for a big interest rate cut overseas thank you both so much gentlemen for being here hope you'll come back and join -- him.
I thank you Alexis coming up I'm -- --
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