Also in this playlist...
This transcript is automatically generated
With the mideast and oil crisis it's a mess and the president today talking energy with this ambitious goal.
When I was elected to this office America imported eleven million barrels of oil -- -- My little more than a decade from now.
We will have cut that by 13.
Our next guest says that's -- great idea start by drilling here in America joining us now in a -- this is exclusive chairman and CEO.
A -- back offshore services.
Todd Hornbeck Todd great to see -- thank you very much.
He made some pretty ambitious statements in and he didn't completely dump -- say for example crude oil but what do we need to do to get up to speed on his.
-- -- -- we need to get back to work.
Right now the deep water Gulf of Mexico and the shelf are still at very very low levels since last year this administration is basically stop those strategic assets.
We have about 35 drilling rigs in the Gulf of Mexico and deep water and only twelve -- drilling right now and knows Arnie meant for new wells so -- about 70%.
Of -- of drilling production likewise on the shelf only 43 out of a 137.
Rigs are drilling.
And not in those are on existing well so we're not finding new all right now because he's got to shut down.
Well you know interior secretary Ken Salazar was -- congress earlier this month he said.
Couple of things that I suggest you don't agree what what he said that.
That rigs are not leaving the golf and -- we said that drilling is at an all time high in the gulf would you agree or disagree.
Well that's not true I think they're taken liberties with the American public can confuse and the facts with the President Obama said the same thing that the the drilling production at a golf is -- highest it's ever been or the production out of gulf as the highest it's ever been.
Now that's from another administration's decisions it takes six to seven to eight years to get production on line in deep water so all those decisions were not made on president Obama's watch.
In drilling is not back -- we're still 70% off.
Date their trick went out a few -- here in there hiding behind safety which is.
You know just a bad bad posture to do so he goes to Brazil last week.
Marvels at their deep water expiration in gives them billions of dollars to a public company to drill.
Where do you think those assets are gonna come from it's the same drilling processes.
We use here in the United States we're gonna take those strategic assets -- -- gonna go to Brazil to drill if they don't start issue.
Well -- -- -- all you really do.
Are you going to do really is look at say for example I believe -- seahawk that that they have to sell all their assets to Hercules -- because they simply could not survive Hercules is -- shallow water drillers.
Have I have foreign investments as well but.
The other guys didn't so they couldn't survive it's really the foreign investments in the forum Jack up rigs that are doing well and not ours.
I had to have you have the -- Of Michael Bromwich the head of ocean energy management because you said you know they're hiding behind.
The safety issue look let's be fair Americans after BP you know you see these guys killed in that explosion they do want safety.
But nothing so onerous that.
That is is ridiculous to a point where he can't even operate -- that that is never had any trouble at all.
There there's no doubt this industry.
Wants a safe environment wants to be safe.
It -- and we are absolutely have a stellar track record we have one mistake how to 40000.
Wells were drilled in the Gulf of Mexico we've had this -- This happened one time.
We've got a great track record in the same drilling processes that are used here used around the world.
Not one other government agrees.
With the what this administration and what but -- we have not had -- -- -- -- what have you been -- capital there.
Yes we have we even got -- your -- and when he.
Well you'll hear -- one of your people what are your senior VPs said an entire industry.
Is being dismantled -- by -- vessel by vessel employee by employee would you agree with that.
I would agree with that they're.
Two foreign governments to drill off their their coast and at the at the risk of our energy security.
And at the risk of American jobs we've got jobs ready to go.
We've got leases that all companies are paid paying for.
That cannot get permits to drill on those leases in this is just a total sham about this administration in its hypocrisy at the highest level.
Okay in the end Todd what do we need to do to get back to drilling here.
And making sure that we can extract the best resources that are used for energy and then we don't have to depend on Arab nations that hate us.
We need permits we need.
Ken Salazar secretary Salazar.
Michael Bromwich and President Obama.
To start issuing permits and get off of this situation just like secretary.
The energy secretary Chu has made a statement that he wants to see our energy prices on par with Europe so I guess they -- -- see seven or eight dollar gas before we start drilling again about that time my friends all these strategic assets in the Gulf of Mexico will be gone -- to other countries not to return.
And we'll be in a very vulnerable position.
A full -- using more foreign oil all sort sources so what he's done today in his speech is contradicted everything that he said.
In Brazil a week ago.
And in -- I don't think it's very biggest disingenuous.
Well let's hope the president is listening now when Ken Salazar from injured Barbara good to see if Todd Hornbeck from a Hornbeck Offshore Services thanks for coming and again -- -- -- -- --
Filter by section