MY GOODNESS, HE’S AN OLD FRIEND.
THANK YOU, THANK YOU.
>> Sandra: WE’LL HEAR FROM HIM
IN A MOMENT.
BIG DAY FOR THE MARKETS, OIL,
AND THE INVASION OF UKRAINE.
DOES BANNING RUSSIAN IMPORTS AT
THIS POINT HAVE ANY IMPACT ON
VLADIMIR PUTIN AND HIS NEXT
MOVE?
>> I DON’T THINK SO,
PARTICULARLY PERHAPS MORE
SYMBOLIC.
YOU ARE TALKING ABOUT 200,000
BARRELS A DAY, IT’S NOT NOTHING
THAT WOULD BE REFINED FOR
GASOLINE PURPOSES, THE REST
WOULD BE FOR OTHER THINGS.
IT’S A GOOD IDEA.
ANYTHING TO REDUCE CASH FLOW
GOING TO PUTIN AND HIS WAR
MACHINE IS A GOOD THING, OK,
IT’S A GOOD THING.
I WISH WE HAD DONE IT QUITE SOME
TIME AGO, TO BE HONEST WITH YOU.
THE TROUBLE WITH THE
ANNOUNCEMENT WAS HE TOOK SHOTS
AT THE OIL AND GAS INDUSTRY, NO
PRICE GOUGING, NO EXCESS
PROFITS, AND HE’S GOING TO
TEXAS, HE SHOULD DO IT TODAY BUT
NOT, MEETING WITH ALL THE FOSSIL
FUEL PEOPLE, THE GREATEST
INDUSTRY IN THIS COUNTRY,
GREATEST INDUSTRY AROUND THE
WORLD, AND ASKING THEM TO TURN
THE SPIGOTS ON FULL HOG AS SOON
AS POSSIBLE AND SAY HE WILL
COOPERATE BY REDUCING REGULATORY
BARRIERS SPREAD ACROSS THE
GOVERNMENT.
>> Sandra: AND BY THE WAY, IF
YOU EVEN LISTEN TO THE OIL AND
GAS INDUSTRY THEY WILL VERY
CLEARLY AND HAPPILY EXPLAIN HOW
THEY WERE ABLE TO DRILL MORE
CLEANLY TODAY THAN EVER BEFORE
IN THIS COUNTRY, LARRY.
WE HAD SOMEONE WHO IS A VERY
GOOD REPRESENTATIVE OF THE OIL
BUSINESS, HER FAMILY BIG INTO
IT, SHE WORKS FOR A BIG OIL
PRODUCING COMPANY OUT OF NEW
MEXICO, BIGGEST IN THE STATE,
NEW MEXICO IS ONE OF THE BIGGEST
PRODUCERS IN THE COUNTRY.
ASKED HER POINT BLANK, WHY IS IT
THE WHITE HOUSE CONTINUES TO
TOUT 9,000 OIL LEASES, UNTAPPED,
SHE SAID IT WAS --
>> WE ALSO HAVE THE SAME ISSUES
FACING EVERY OTHER INDUSTRY
TODAY.
WE HAVE THE SAME SUPPLY
SHORTAGES AND WE HAVE LABOR
SHORTAGES.
SO, ONE, WE CAN’T FIND THE
PEOPLE THAT WE NEED TO BE ABLE
TO MAN UP A DRILLING RIG AND
TWO, WE CAN’T EVEN BUY THINGS
LIKE STEEL CASING THAT PROTECTS
THE GROUND WATER WHEN WE DRILL
IN THE SOIL. SO I THINK WHAT THE WHO US IS
SO I THINK WHAT THE WHO US IS
SAYING IS DISINGENUOUS AT BEST.
>> AND TO SAY THE OIL INDUSTRY
IS NOT BENEFITTING FROM THE $130
A BARREL IS HARD TO BELIEVE.
>> IF BIDEN HAD CLASS AT ALL HE
WOULD HAVE THANKED THE OIL
INDUSTRY FOR SELF-SANCTIONING.
MOST OF THEM HAVE CLOSED DOWN
TRADING AND FINANCING AND
REFINING, INCLUDING THE BIG, BIG
GUYS, LIKE EXXON MOBILE AND B.P.
AND EVEN SHELL WHICH DID SOME
BUSINESS WITH IT AND HAD A BAD
REACTION AND THEY CAME AROUND,
THAT’S EXACTLY RIGHT.
I BET CONOCO WILL COME, TOO.
THIS LEASING THING IS A RED
HERRING.
NORMALLY 40,000 LEASES
OUTSTANDING, BUT THAT DOES NOT
MATTER.
THEY NEED PERMITS FOR ACTUAL
SALES, FOR ACTUAL DRILLING, AND
FOR ACTUAL PIPE LINING.
AND THE WHOLE STORY IS THEY ARE
NOT GETTING ANY APPLICATIONS
THROUGH.
INTERIOR DEPARTMENT IS STOPPING
THEM, THE ENERGY DEPARTMENT IS
STOPPING THEM, E. P.
A. IS STOPPING THEM AND UNDER
ASSAULT FROM THE S.E.C. AND NOT
TO MAKE LOANS TO OIL COMPANIES.
>> Sandra: AND YOU GET PRETTY
MUCH INTO THE WEEDS IN THE OIL
BUSINESS, BUT ONE OF MY SOURCES
ALSO EXPLAINED TO ME, AND HAD MY
BRAIN ROOM DIG THIS UP LAST
NIGHT, UNDER THE TRUMP
ADMINISTRATION, WHILE YOU WERE
THERE LARRY, FAR LESS LEASES
UNTAPPED.
5,000 PLUS RANGE.
THE REASON WHY THE NUMBERS WENT
UP TO 9,000 IS BECAUSE THERE WAS
A RUSSIA TO GET LEASES FOR FEAR
OF ADMINISTRATION LAUNCHING WAR
ON FOSSIL FUELS.
AND THAT’S WHY THE NUMBER IS SO
BIG.
>> THAT’S A GOOD POINT, I LIKE
THAT POINT.
HISTORICALLY EVEN LARGER NUMBERS
OF LEASES.
BUT YOU KNOW, THEY HAVE TO
LOOK -- WHEN THEY TAKE A LEASE
OUT ON LAND, WHETHER IT’S
FEDERAL OR PRIVATE, FIRST OF
ALL, SEE IF THERE IS ANY OIL AND
GAS IN IT.
>> AMEN.
>> AND SECOND OF ALL,
UNFORTUNATELY THEY HAVE TO GET
PERMITS FROM THE AUTHORITIES, SO
THAT’S THE E.P.A., INTERIOR
DEPARTMENT, ENERGY DEPARTMENT.
NOT A SINGLE SALE ON SHORE OR
OFF SHORE HAS HAPPENED IN BIDEN
ADMINISTRATION, NOT ONE SINGLE
SALE.
INTERIOR WAS GOING TO OPEN UP A
SALE AND THEN A LEFT WING JUDGE
STOPPED IT AND NOW THEY ARE IN
COURTS AND THE BIDEN
ADMINISTRATION HAS NOT APPEALED
IT.
>> Sandra: WHAT THEY TELL ME
THEY FEAR, THAT THAT COULD
HAPPEN AT ANY POINT, EVEN IF
THEY TAKE ON THE HUGE EXPENSE OF
TAPPING INTO ONE.
>> THAT’S EXACTLY RIGHT.
THE ASSAULT ON FOSSIL FUELS FROM
DAY ONE WITH THE KEYSTONE
PIPELINE HAS THROWN A WET
BLANKET OVER THE WHOLE INDUSTRY.
SO THEY ARE AFRAID TO MAKE
LONG-TERM INVESTMENTS.
>> Sandra: YOU HAVE ONE OTHER
BIG POINT YOU WANT TO MAKE.
WE ARE RUNNING OUT OF TIME.
>> ONE REASON THE STOCK MARKET
RALLIED EARLIER, ANNOUNCEMENT
FROM ABC NEWS INTERVIEW, FROM
ZELENSKYY, UKRAINE WILL NO
LONGER SEEK RIGHT NOW NATO
MEMBERSHIP.
THAT’S A VERY BIG THING.
AND THAT KIND OF PULLS THE RUG
OUT FROM A LOT OF THE WESTERN
RATIONALE HERE.
I FIND IT HIM MOVING BACKWARDS,
UNSEEMLY TO THE POINT OF
ANNOYING.
WE HAVE ARGUED FROM DAY ONE, NOT
DAY ONE, BUT BIDEN FINALLY GOT
AROUND TO IT THAT WE WERE TRYING
TO PRESERVE THEIR SOVEREIGNTY
AND ALSO THEIR FREEDOM TO CHOOSE
DEMOCRACY OR, YOU KNOW, PUTIN.
AND IF HE’S SAYING THEY ARE
GOING TO GIVE UP ASPIRATIONS TO
GET INTO NATO, THEN YOU HAVE TO
ASK YOURSELF, WHY ARE WE
FIGHTING?
NOW, HE MAY FIGHT FOR HIS
SOVEREIGNTY, BUT ONLY PART OF
THE STORY.
I FOUND THIS TROUBLING MUCH AS I
ADMIRE ZELENSKYY AND HIS
COURAGE, HE’S A GREAT FIGURE,
CHURCHILLIAN FIGURE, KIND OF A
SEMI SURRENDER.
IT MAY ENCOURAGE PUTIN WHO SAYS
HE HAS ZELENSKYY ON THE RUN.
SO, I DON’T UNDERSTAND THIS
POINT AT ALL, AND LIKE I SAY,
STOCK MARKET TRADERS ACTUALLY
BOUGHT THE MARKET ON NEWS.
>> Sandra: IT’S POSITIVE NOW, WE
NOTICED.
>> THOUGHT THIS WOULD BE A
SHORTER END TO IT.
I DON’T WANT TO MAKE
PREDICTIONS, JUST HOW SURPRISED
I WAS THAT ZELENSKYY MADE THE
COMMENT.
AND SAID BY THE WAY, THE DONBAS
REGION PUTIN WANTS ZELENSKYY
SAYS WE CAN DISCUSS AND FIND THE
COMPROMISE ON HOW THE
TERRITORIES WILL LIVE ON.
SO THAT’S A SUGGESTION THAT WHAT
I WOULD SAY IS TOTAL SOVEREIGNTY
IN THE UKRAINE MAY BE OFF THE
BOARD AND ONLY PARTIAL
SOVEREIGNTY.
SO, SLIPPAGE ON MR. ZELENSKYY’S
PART.
MAYBE HE FEELS HE HAS TO DO
THAT, I’M NOT HERE TO CRITICIZE
HIM, I’M JUST SAYING THAT
STATEMENTS LIKE THAT CHANGE THE
GAME TO SOME EXTENT.
WE SHOULD KEEP AN EYE ON IT.
>> Sandra: VERY INTERESTING.