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Plug in the follow the money I'm Eric -- this is a Fox Business alert as Egypt burns oil -- rages take a look at this chart at 8 this morning.
Oil -- plugging away at a little more than.
85 bucks a barrel but throughout the day.
The wire reports were coming in they're matched by the climbing line of the daily oil chart thousands of protesters chased out police from downtown Cairo.
Throwing rocks glass and -- followed by news of -- protesters shot and killed.
The port city of Suez four and a half million barrels of oil a day pass through Suez Egypt -- Tanker two million by tegra two and have million by -- That's why Suez is considered by the US Department of Energy is one of the several choke points -- oil supplies can get bottled up or choked off.
Like the Panama Canal -- the straits of Hormuz.
Some of the most serious violence -- it was in Suez protesters stormed a police station seized all of the weapons before burning the top shop.
To the ground cable news carried these scary images across trading floors around the world and by -- oil had jumped four dollars a barrel.
-- -- a curfew was in -- By nightfall but that only made fires easier to see.
Tanks flooded into downtown Cairo protesters jumped on them like something from the old Tiananmen square protests there were protests -- cops stripping off their badges and joining the protest errors.
So what happens if the protests to choke -- almost four and a half million barrels of oil through Suez what alternatives do we -- -- now.
Governor of our largest oil producing state -- -- -- Governor Sean -- great to have you so what I mean you know -- -- is fantastic to have you see the price of oil jumping nearly four dollars a barrel today again.
What is Alaska what does it does the state of the last in the governor's solution to it to high oil prices.
Well look I think we've got to begin asking the question should American policy be to Foster further dependence upon unstable regimes and unstable area of the world and my answer is no we ought to be looking right here at home.
-- a got a lot of domestic energy in Alaska.
Lot of areas to offered to explore and develop but rather a hard time getting past our own federal government our -- federal agencies.
Now why is that it is there any movement on that would do with what you know the higher price for oil you know when mr.
Obama took office.
But at some point during his first couple of months in office oil was 33 dollars a barrel today we sought almost touched ninety dollars a barrel almost tripling in a matter of two years is there any push is there any pushed -- maybe get some.
I don't know and mark you want to drill and our would you drill and our -- -- -- yes I would or even closer than that we've got offshore resources -- got a got a company that's.
I bought federal leases for a half years ago still can't get.
Permit to drill they just been stymied by the -- EPA in the lap or environmental appeals board in the last three or four weeks -- so.
Would like to get people work and we like to get that domestic production here and cannot provide that energy America.
Very uninteresting to me has spent a lot of time on oil trading floors I -- oil as oil was up nearly four dollars a barrel went over to natural gas -- much of I think something like 70% of all new homes built our bill -- natural gas needs.
I looked at that and at one point.
Natural gas was down on the day now talk to us about why that would happen.
I mean it's a it's a matter of supply demand that -- Alaska is rich with natural gas every day.
I'm at Prudhoe Bay we've got eight billion cubic feet -- -- gas coming up out of the ground that they re inject.
We can be -- that gas to use.
They can -- US markets we can be bringing it here I heating home and so that's.
My point my point is we we produce everything we use natural gas -- in North America what it comes from Canada.
What we produce here coming up from Mexico so geopolitics.
Like the events going on in -- Cairo Egypt.
Don't have an effect on our natural gas price that's a good thing because we produce what we use why don't we produce what we use in oil.
-- That's that's -- question you're gonna have to you're gonna have to ask beyond me olive olives on the is Alaska is prepared and we're ready.
To supply this nation I want to go back to that -- in 1973 with the air embargo with long lines at the gas -- We've got the oil there.
Probably got in the gulf is well -- let's let's put our people to work let's produced domestically.
Governor how much more oil look at Alaska produced given given -- -- and emergency.
You know he's our fields are still rich and vast and and largely untapped so.
We have about 600000 barrels a day coming through the trans Alaska pipeline system.
One field alone offshore can pretty accident another half million -- mean.
And there's plenty of other acreage available -- it's virtually endless at this point.
Governor I've heard -- I've heard numbers thrown around like if they'll -- the last score a lot of produce what you could produce we would have energy supplied -- somewhere where there's somewhere.
Obviously the last in the outer continental shelf -- -- around a hundred years of oil is that right.
That's quite possible but -- our our.
Our need across the next 2030 years is is objectively measured how we're gonna beacon we're gonna continue to be dependent upon it.
We want those jobs both an Alaskan across America we want that production here -- -- in America but what that it's national security of having the supply here so.
I'm -- department interior and EPA to help us open up.
Artist -- a outer continental shelf the National Petroleum Reserve Alaska.
-- MRI if we can if we get some movement there that degrade.
Governor to borrow a term from mile an ex governor former governor of Alaska drill baby drill going to leave it there -- -- by the way I was on my knees on error on this network saying.
Please please at 33 dollars a barrel please -- to be strategic petroleum reserve -- guess they didn't want to do that -- say thank you very much for joining us tonight but he's --
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