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LARRY: JOINING ME NOW, MIKE
SOMMERS.
PRESIDENT AND CEO OF THE
AMERICAN HE CONTROVERSIAL TROLL
YUM INSTITUTE.
-- AMERICAN PETROLEUM INSTITUTE.
IF I WERE MAD AT THE SAUDIS FOR,
I DON’T KNOW THAT I WOULD ENDS
OIL AND DRILLING IN THE GULF OF
MEXICO.
>> WE ARE IN THE WORST ENERGY CRISIS THE UNITED STATES HAS
CRISIS THE UNITED STATES HAS
SCENES SINCE THE 1970s.
WE HAVE AN ADMINISTRATION
CONSIDERING CUTTING OFF 16% OF
AMERICA’S SUPPLY OF OIL AND GAS
IN THE GULF OF MEXICO.
THE AMERICAN PETROLEUM INSTITUTE
ALONG WITH HUNDREDS OF THOUSANDS
OF AMERICANS STEPPED UP AND SAID
WE NEED TO CONTINUE TO DEVELOP
OUR RESOURCES IN THE GULF OF
MEXICO.
THE ANSWER TO THE CRISIS IS MORE
SUPPLY, NOT LESS.
EVERY POLICY THIS ADMINISTRATION
PUT FORTH IS CAUSING THE
AMERICAN PEOPLE TO ENDURE AN
EVEN LONGER ENERGY CRISIS.
LARRY: THEY ARE LOOK AT ENDING
EXPORTS OF FOSSIL FUELS WHICH
WOULD BE A POKE IN THE EYE TO
OUR EUROPEAN ALLIES.
AND IT WOULD DO GREAT DAMAGE TO
OUR DOMESTIC ECONOMY.
>> THAT’S RIGHT.
I AM IN THE STATE OF CALIFORNIA.
YESTERDAY I TOURED ONE OF THE
MOST SOPHISTICATED REFINERIES WE
HAVE IN THE UNITED STATES.
IT IS ABLE TO PROCESS 360,000
BARRELS OF OIL EVERY SINGLE DAY
AND TURN IT INTO PRODUCTS WE USE
ON A DAILY BASIS.
THAT COIL COMES -- THAT OIL COME
OVER THE WORLD.
WE NEED TO USE YOUR OUR OWN OIL
AND OIL FROM OTHER COUNTRIES.
TO STOP EXPORTS FROM THE UNITED
STATES, THE RETALIATORY EFFORTS
OTHER COUNTRIES WOULD TAKE IF
THAT WERE TO HAPPEN WOULD
INCREASE PRICES ON THESE
PRODUCTS AT A TIME WHEN WE ARE
TRYING TO LOWER PRICES ON
AMERICAN CONSUMERS.
LARRY: JUST TO CLEAR UP SOME
MISGUIDED THINKING.
IF YOU OPEN THE DOOR TO EXPORTS
AND MAKE IT CLEAR.
WOULDN’T THAT JUST INCREASE
PRODUCTION IN GENERAL?
NO, IT’S NOT LESS.
YOU WOULD BE PRODUCING MORE,
WOULD YOU NOT?
>> IN FACT, LARRY, WE ARE ABLE
TO POINTS TO A RECENT EXAMPLE OF
HOW THAT WORKS.
DURING THE OBAMA ADMINISTRATION REPUBLICANS AND DEMOCRATS WORKED
REPUBLICANS AND DEMOCRATS WORKED
TOGETHER TO LIFT THE 70s ERA
EXPORT BAN.
THE UNITED STATES PRODUCED 2
MILLION MORE BARRELS A DAY OF
THAT OIL BECAUSE THERE WERE
MARKETS FOR THAT YOU OIL.
WHAT THEY ARE TALKING ABOUT NOW
IS NOT JUST A BAN ON THE REFINED
PRODUCTS, BUT REIMPOSING THE OIL
EXPORT BAN.
AND THEY ARE IN DISCUSSIONS WILL
POTENTIALLY LIMITING THE AMOUNT
OF LNG WE CAN EXPORT.
THAT WOULD PUT A HUGE HINDRANCE
ON PRODUCTION THAT WE MAKE AT
WORLD CLASS REFINERIES ACROSS
THE UNITED STATES.
LARRY: WHAT’S THE PHRASE?
HOW TO INFLUENCE PEOPLE AND MAKE
FRIENDS.
WE SHOULD GIVE THEM MORE, NOT