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May 8, 2008 - Rush Limbaugh Program
36:27
May 8, 2008, Thursday, Hour #2
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Hi, how are you, folks?
Greetings.
Nice to have you with us.
I am Rush Limbaugh, America's real anchorman, America's truth detector, and the doctor of democracy, all combined as one harmless, lovable little fuzzball.
Fun frolic frivolity for all, as well as serious discussion of the issues.
Found in one exciting presentation and package, not found anywhere else in big media.
Telephone number if you'd like to be on our program, 800-282-2882, the email address LRushbo at EIBnet.com.
I was talking with Mr. Snerdley during the break.
You know, folks, Operation Chaos is a truly, truly brilliant operation that relied solely on you.
Well, not solely, but primarily on you.
And you came through flying colors in droves.
Ohio, Texas, Pennsylvania, Indiana.
It's just amazing.
And the drive-by media knows it.
I can tell you yesterday in their budget meetings, which is what they call the meetings at the beginning of the day where they assign stories to various reporters.
And of course, the big-time editor, TV, networks, newspapers, magazines, whatever, the big time editor is looking at the admission by the Obama campaign that the Operation Chaos was responsible for Hillary's victory in Indiana.
And this guy's looking at it.
He said, damn it.
Damn it.
We have been trying to ignore this Operation Chaos for all these months.
And damn the Obama campaign.
So he points to a reporter and says, you, go do a story on this.
And the little reporter says, well, I don't care.
Just do a story on it.
Get rid of it.
So they do their analyses and it didn't work.
It had no impact or what have you.
But it did.
But do you know how it could have been better?
Had the beneficiary of our efforts known what to do with it?
This is, I just sit here and I can't tell you how frustrating this is.
The beneficiary of the efforts of Operation Chaos happened to be the way the chips fell in this thing, Hillary Clinton.
Now, what is your image of the Clintons?
Those of you that are old enough that have been paying attention to politics here since at least the 90s, what is your impression?
What are your memories of them?
One word comes to mind, ruthless.
I mean, these are people, you know the 90s.
They did anything.
I mean, they had 500 FBI files.
I don't know if how many of you know 50 people in your close circle who have been indicted?
They do.
How many people in your close circle do you know who have died unexpectedly at a relatively young age for whatever reason?
They know lots.
These are people that when the chips were down, here came the funny money from the Lippo group.
$250,000 worth of money orders dropped off to the Clinton Legal Defense Fund.
They survived such things as whitewater and all of this other stuff.
And this campaign has featured none of what we all remember the Clintons for.
It has featured none of what we think the Clintons capable of.
It's like the guy who called in the last hour.
You think the Clintons have a bomb waiting to drop on Obama?
Everybody thinks that the Clintons have one final thing that's going to really wipe out the Obama campaign.
They might, but I think they would have used it long before now.
And we got to thinking, Snergli and I did, if the reputation that Mrs. Clinton has, well, she hasn't earned it.
The reputation that has accrued to her is so incorrect.
It is so it's just, it's embarrassingly wrong.
This was never the smartest woman in the world, and this was never a woman who always got what she wanted and never screwed up.
This, in fact, is a woman who messed up everything she touched.
From, I mean, hires Craig Livingstone, 500 FBI files, the Paula Jones gave.
She was the advisor on that.
Health care, which probably led in large part, not to mention me, but the loss of the House for the first time in 40 years, the Democrat Party.
And so I'm sitting here saying, a woman's adept.
The White House travel office firing everybody in there, but all these things that everything she did, everything that we could put her fingerprints on, there's nothing to recommend that she be promoted to anything.
We can say the same thing about Obama, but I mean, this is not about him right now.
And so, and we're just sitting if she, with Operation Chaos, if she had just known how to use the gift.
But no, and still may not.
So it just, I think it's really puzzling to a lot of people.
I'm sure you among them are puzzled as well, because this is not the Clintons we've come to know and expect.
We don't expect to see Bill Clinton standing on a back porch in little towns like Whiteville, North Carolina, talking to 20 people.
We don't expect to see all these defections.
All of these people that used to be dead tight with these people have rifted away in droves.
It could start with Bill Richardson, but there's any number of them that have given the chance.
They have fled the coup, if you will.
So it leads a lot of people to wondering, well, what was this invincibility they had in the first place?
Was it all an image or a mirage?
Was it all simply media that covered for them and built up this reputation in this image?
Was it media that let them get away with all the screw-ups and so forth and praised them for having the guts and courage to try these things and look at how bold and brave, and they created a lot of fear in people.
There's no question.
We haven't seen any evidence of this.
Now, is it maybe it's because Mrs. Clinton's the one that's leading this thing and she just not competent?
But folks, I'm here to tell you.
I'm here to tell you, you got a rookie who's been in the Senate a year and a half.
You can't take this guy out?
There is, I don't care what his race is.
There is something seriously wrong here.
Look at, they went into this thinking they're going to get coronated.
She'd have made no plans beyond February 5th.
She ignored the caucus states.
She thought this was just a matter of time, let it all hang out so there was a little arrogance and so forth involved here.
And in truth, Operation Chaos helped paper over some of this incompetence and sustained her campaign longer than it deserved to be sustained.
There's no question about it.
You people did it.
You volunteers.
And it isn't over.
I don't care what the drive-byers are saying.
Operation Chaos is not over.
Michigan Democrat leaders yesterday settled on a plan to give presidential candidate Hillary Clinton 69 delegates and Obama 59 delegates as a way to get the state's delegates seated at the national convention.
Now, Clinton won the primary in Michigan on January 15th and was to get 73 pledged delegates out of it under state party rules.
Obama was supposed to get 55.
State also has 29 superdelegates, but of course they violated the rules.
They weren't supposed to do their primary that early, and so those delegates and the votes don't count.
And you've heard by now, Mrs. Clinton's doing everything she can to try to get these delegations seated.
She holds the power over the Rules and Bylaws Committee.
We'll make this decision on the 31st of this month.
But I mean, this is a very sly move on the part of the Michigan people.
Very sly.
Okay, let Hillary have a majority of the delegates.
It won't matter.
She picks up net 10 in this deal, which is not a huge number.
And this is something the Obama campaign will, who knows?
They might go along with it.
Florida is a little bit of a different story because there's real activism in the Florida delegation.
They want the whole thing seated.
They want everything to count.
And Mrs. Clinton won here 55 to what, 40?
55 to 38, or 37, whatever it was.
So still a lot of fireworks out there.
Operation Chaos still has many phases ahead, and it will be chronicled for you on the moments that it's necessary to be chronicled.
Economic news, the number of U.S. workers filing claims for initial jobless benefits fell.
Fell.
This means that fewer people file for unemployment compensation.
Fell more than expected.
Is that a template now?
More than expected.
It's probably a keystroke.
Like Command E. More than expected.
Just do that rather than type the words.
There's a shell for these economic stories.
And in every one of these stories, it's more than expected.
This, according to a report today, that suggests a labor market, while soft, was not deteriorating rapidly.
We're not even in a recession.
The economy grew in the first quarter.
We are not in a recession.
Yet everybody thinks we are.
So jobless claims fell 18,000 in the latest week that they've been calculated, these stats.
And here's the bottom line.
If liberals in Congress get out of the way, the economy can do what it normally does, and that's grow.
Now, Sterdley says we get a lot of people calling about oil today.
I'm getting emails about this too.
And obviously, there's some kind of campaign out there to have oil discussed.
You know, the story out there past couple of days, experts say that the barrel price of oil will soon hit $200.
And this is roiling the markets, they say.
Now, I want you to stop and think about something, folks.
If $200 barrel and oil, $200 a barrel, leads to the pump price of $10 a gallon at the gasoline, let me just ask you a simple question.
Will the market support that?
Will it?
Are you asking yourself at this point in your life?
Are you saying, okay, gasoline, where I'm buying it's $450, $425, maybe it's $3 in some places if you're using regular, but are you asking yourself, are you telling yourself there is a price per gallon?
I'm just not going to buy it.
Or I'm going to really change the way I live.
If it hasn't caused you to change yet, if it hasn't caused you to make this, and I know some people, it has, then forced them to make decisions on where they spend other dollars.
But is there a price, for those of you who are not affected by it yet, profoundly, is there a price where you're just going to say, all right, bare minimum, or I'm going to use mass transit, where you're just not going to buy it.
You may not have thought about it specifically and consciously, but there is in your head, there is a price at which point you're not going to pay it because you can't.
You just won't be able to.
Now, they can have, I don't care what the commodity is.
It can be a food.
It can be gasoline.
It can be hotel rooms.
The only exception to this is healthcare, by the way.
They can price health care whatever they want.
And you will still go access it because you think somebody else is paying for it.
But we don't have national gasoline insurance yet.
And we don't have national corn food products insurance yet.
So if gasoline gets to be $10 a gallon and people don't buy it, what's going to happen?
These people that produce these commodities cannot just arbitrarily price them as high as they want.
I mean, you may think gasoline oil companies, whatever, might look forward to $10 a barrel gasoline.
But I will guarantee you they can have all the gasoline they want at $10 a gallon.
And if they don't sell it, it's worth nothing.
Now, what happens if gasoline gets to $10 a gallon?
What happens to jet fuel?
Can we talk about that for a minute?
Now, you don't know the cost of jet fuel per se because you buy airline tickets.
But jet fuel right now is as high as $7.52 a gallon, $6.50, $5.50, depending on where you buy it.
There's a much wider variety in price of jet A.
Well, what if jet A gets to $20?
If gasoline is going to get to $10, jet A is going to be $15.
Are you going to fly?
Are the airline, the prices the airlines are going to have to charge the rates that they're going to have to charge, the increases in their fares to pay for that fuel, are you going to fly?
You won't.
And what's going to happen?
The only people are going to fly, the people that have to, and that's going to be business.
What's going to happen to the airlines?
They can sit there with all these empty seats, and what good does it do them?
My point is that these scare tactics of the barrel price for oil getting up to $200 and gasoline at $10 a gallon and jet fuel at $15 to $20, if the market can't support it, it isn't going to stay there.
I've been through enough of these oil things and these so-called contrived shortages and these bubbles and so forth.
I'll never forget when I get 18, I got my first car.
Gasoline was a quarter a gallon.
There were gas wars.
And it wasn't long in the early 70s, shortly after I got my first car.
Here came the contrived shortage from OPEC and the price went up from 75 cents from a quarter to 70.
And that was huge.
It's a percentage increase, 50 centrally, huge percentage increase.
And then it and then it came down.
Then it came.
These things, they go up and they go down.
I'm not saying this is a big bubble, but I'm just, I'm going to tell you that markets work, and there is no way an astronomical, out-of-the-realm of possibility price for oil can be sustained or maintained if people will not buy it or can't afford to.
It's just that simple.
Now, you can tax the oil companies all you want, like the Democrats want to do with their new energy program, windfall profits tax.
You can do all.
It ain't going to produce a drop of new energy.
And what we need is more supply.
What we need is much more of this stuff.
And there's no substitute for oil.
You can sit there and you can think otherwise.
You can think we're going to destroy ourselves.
We're not going to destroy ourselves.
We're not going to kill a planet.
I know it's commercial time, but I'm on a roll.
Geez, engineers, engineers, just go to.
Hi, welcome back, Rush Limbaugh, the EIB network, the Limbaugh Institute for Advanced Conservative Studies.
Bill in Reading, Pennsylvania.
Nice to have you with us, sir.
Hello.
Hi, Rush.
I agree with your market analysis.
How much can the market bear?
What kind of price?
And I was scared when I read that article yesterday about $200.
And what was especially scaring was the same Goldman analyst that did it a few years ago is the one that's doing it now.
He predicted $100, and we thought that was too high.
And we're suffering now.
And if he's right again, we're really going to be suffering.
And Congress can deal with it by just lifting that 25-year moratorium on drilling.
Oh, I know.
I've got some statistics here, and I'm going to get them after the break.
And I want to spend a little time talking with you here, but after the next break, I'm going to get to, you know, just give you one.
In 1985, 1985, our domestic production in this country, our consumption, let me get production here.
The Department of Energy, U.S. oil production has fallen 40% since 1985, while consumption has grown more than 30%.
So in real barrels, U.S. oil production is now below 5 million barrels a day.
It was approximately 9 million barrels a day in 1985.
So our production has been cut in half in 20 years.
Wow.
And see, it's been a slow bleed.
That wasn't a dramatic overnight thing, and so its impact was not immediately felt.
Now, at the same time, we've stopped drilling.
We have stopped exploring for new sources, even though we know that it's there.
According to federal government estimates, there is enough oil in the domestic areas, Gulf of Mexico and off the coasts and Alaska, 112 billion barrels.
There's enough American oil.
We could go get 112 billion barrels, which would be enough to power more than 60 million cars for 60 years.
But we have moratoriums on drilling for all this.
The environmentalists are the only ones who are happy about this.
This is an attack on capitalism.
It's nothing about environment.
It's nothing about saving the planet.
It is an attack on capitalism and an attempt to cut this country down to size.
And they're succeeding with the help of the Democrat Party.
Exactly.
And it's insane.
It's insanity because people are suffering in the meantime.
And we could be independent for 20 years with that amount of oil when you're talking about 100 billion barrels.
You know, I have to think this is hard to say, but what you just said is not arguable.
More and more suffering.
Yeah.
People are going to be suffering.
And somebody is not obviously bothered by this.
And it's crazy because I know seniors that had to leave their homes this winter because they couldn't handle the heating fuel bill.
I heard those.
Just gasoline.
Yeah.
And of course, who do seniors vote for?
Democrats.
You know, somebody is not that upset about all this suffering.
Somebody enjoys it because they think it's going to translate to votes, folks.
It's that simple.
We'll be back in just a second.
I just got an email from a listener who said that the price of jet fuel in New York at LaGuardia at the fixed base operator there, the signature flight support FBO.
This is where private jets go where they buy their gasoline.
They're just gas stations, but $8.08 a gallon for jet A at the general aviation terminal at LaGuardia.
$8.08.
Now, you know, at some point, and I just want to talk market economics here to you.
At some point, this price is going to reach a level that people can't afford it or will refuse to pay it for whatever reason.
And that price will no longer be supported.
Markets work.
And I can guarantee you that the Democrats are not going to come along with gasoline insurance like healthcare.
If anything, if you let these people get their hands on this economy, they're going to start rationing this stuff.
Folks, there's a lot of suffering out there.
There is, I mean, the economy is not in recession, but these price increases in food and gasoline staples have happened so quickly rather than gradually that they have far outpaced any income increases or wage increases the American people are experiencing.
So these are hits.
These are huge hits.
And a number of people have already had to make changes in lifestyle decisions that impact vacations, things like going out at night to dinner, what have you.
A lot of people here have been dramatically impacted by this.
Some people haven't been yet.
And it's not affecting the country nationwide, but it's affecting enough people.
The prices are still at a level that people are still willing to pay them.
Look at the NBA playoffs.
You know, these tickets are not cheap and their stands are full.
Major league baseball games, look, you know how much it costs to park at these things.
You think prices are high in a grocery store, you know what they are at a concession stand.
You're a captive audience.
They want to charge you $10 for a Vienna sausage they call a hot dog.
They can do it.
Where else are you going to get it?
If they catch you bringing your own stuff from home, they won't let you take it in.
Security, don't you know?
And so there are still a lot of people able to pay these things, pay the freight.
But at some point, those people are just going to refuse to.
It's not going to make any sense.
You ought to see what the ticket prices are going to be at the New York Yankees next year.
A box seat behind the dugout because they're going to a new stadium.
Got to pay for it.
You have to pay for it, Yankees fans.
What did I read the other day?
$2,500 for one game for one seat.
I think I don't think it can't be the season ticket price because there's 81 home games.
There's no way 81.
No, I think for those dugout seats, dug out to dugout, first couple rows, $2,500.
Now, they're going to be able to get it because they're in a population center where there are enough people who can and will pay that for that kind of exclusivity.
The cheap seats upstairs in the upper deck, around $250 a game.
The point of all this is that despite the fact that there are people who are able to pay whatever things cost if they want to, there is still a lot of suffering.
And the suffering can be noted not by directly viewing it, but by simply looking at the world of politics.
And you see all these proposals coming up to take the gasoline tax holiday this summer.
Now, I find it interesting that the people who oppose this around the corner, around the block, are elected officials, in many cases of both parties, but primarily the Democrats.
While wailing and moaning about how unfair the oil companies are to you and charging all these high prices, they don't want you to get a little break.
I don't care how little it might be, $30 a summer.
You combine a federal tax holiday with a state tax holiday, and you're talking much more than $30.
You're talking much more than 18.4 cents a gallon.
But my point here is there's a lot of suffering out there.
And I am sad to say this, but there are people who enjoy it because they think they're going to benefit from it.
Because suffering in an election year equals votes for the opposite party.
And I know that sounds cynical to a lot of you because a lot of you vote for these Democrats.
Well, I don't know about you in this audience.
A lot of people in this country vote for Democrats because they somehow have been misguidedly believing that Democrats are going to fix all these economic circumstances because they're going to raise taxes on the rich and they're going to make things just as expensive for the rich as they are for everybody else.
They're not going to make things more affordable for anybody else.
They're just going to make it fair by soaking the rich.
And you're supposed to sit out saying, yeah, yeah, you soak them.
You soak them.
That'll make me feel better while my hot dog still costs $10.
Now, This, I have a prediction to make to you on this barrel price of oil and gasoline.
Because I've been through this, you know, I'm middle-aged now, 56 fiscally, 18 emotionally, in many ways.
I still have a lot of life in me.
But I've been observant, and I know that this is not going to last.
And it's not going to keep increasing at these rapid rates like these experts say.
It might for a while, but at some point, folks, it's going to tumble.
May not get back down to 80 or I'm not going to predict where it's going to go.
But these steady, unstoppable, uninterrupted increases, as far as the eye can see, are going to stop because they have to, because they're going to reach a level where nobody will be able to sell it at any level.
The wholesalers won't be able to sell it.
The refiners won't be able to sell what they refine.
The gasoline stations won't be able to collect any money for it.
People won't fly on airliners because they won't be able to afford the tickets.
That won't work.
When that starts happening, what always happens, except in government, the price comes down.
Now, in the government, when people start riding the subways less, they raise the fares.
In government, when they tell you to start conserving water because you're in a drought and you follow their instructions, their revenue falls.
So they raise your water rates even after you conserve.
So you're going to get charged more by government for using less.
It's the exact opposite of supply and demand.
There's no supply and demand in government.
And government is, you make it and we take it.
Thank you, Charles Wrangel.
The government objective is you make it, they take it.
In the private sector, when nobody's riding an airplane, they got to get people on the airplane.
The airplane doesn't make them any money sitting on the ground.
The airplane has to be in the air and it's got to have people in it.
And if people can't afford to be in the airplane, the airplane is going to be in the ground.
The only way to get people on the airplane is lower the price, and I guarantee you this is going to happen.
I'm a little cynical about when it's going to happen.
Might happen before the election, in which case it'd benefit the Republicans.
Might happen after the election, in which case benefit the Democrats.
I don't know.
The timeframe involved in this is per chance.
The oil market is so big and so complex, there's no one company or person that can manage it, not even OPEC.
They can dent it, but they don't produce all of the world's oil.
So if OPEC limits their production, you're going to have some countries that are not OPEC members because, aha, here's our chance to sell more and they're going to pump more.
They're not one person, I don't care what anybody tells you, there's not one entity that can arbitrarily control the price of oil worldwide.
The speculators have a lot of impact in this, on the futures market and the commodities market, but it is what it is.
Can't do anything about that.
It's just there.
For example, for the last year, I have been hearing about, my God, the dollar, the dollar is falling.
This is bad.
Why, it's horrible.
Why, the dollar is going to stop becoming international currency.
And look at that.
Iran and some other OPEC countries are wanting the dollar to be dropped as a currency that everybody uses.
Then all of a sudden, out of nowhere, I think it was late last week, out of nowhere, a single story.
Experts believe the dollar has bottomed out and is now in a rebound.
Really?
Really?
And notice how that changed everybody's mood about this.
Well, the people who are directly involved in that, it did.
It changed their mood.
Oh, wow, we're coming back.
And the Warren Buffett went out.
I think it was Buffett.
Buffett went out and said, hey, the crisis on Wall Street's over.
Individuals still have some trouble ahead in the credit and the subprime problem, but Wall Street's been fixed because of the Bear Sterns bailout.
So immediately on Wall Street, wow, Warren Buffett said the worst is over.
Somebody someday is going to say oil price topped out.
Then it's going to come down.
Markets work, folks.
They really do.
And when you get to a point, if $200 a barrel oil hits a year from now, I will guarantee you it cannot stay there.
I don't think it could stay at a price halfway to $200 a barrel.
There's just, it won't, it can't be supported, not on a mass basis.
There are always going to be some people around the world, a precious few in every country, who are going to be able to buy whatever they want, whatever it costs.
They are a precious few, but there are not enough of them to affect the overall supply and demand.
I mean, I just saw a picture.
You automobile freaks probably have seen this.
I've seen it twice.
Now, some United Arab Emirates shake has his little Mercedes, looks like it's an SL, a convertible two-door, pink with diamonds all over it.
I mean, some people just have so much wealth.
They're looking for outrageous ways to spend it.
But they are not going to be the ones that determine the market.
Because that shake that has all that money to put diamonds all over his Mercedes got his money from oil being pumped out of wells in his country.
And if there aren't enough people that can buy it at the price at 200 bucks, it's going to come down because the objective of all these commodities is to sell them, except when the government's involved and we subsidize people not to sell it.
We put it in silos and it's all that sort of stuff.
But when we're talking about the free market, all these artificial guesses about oil and so forth, you mark my words.
I don't know when, but it's all going to come down.
It's going to come down at some more manageable level than now.
And when that happens, just the fact that it's coming down and gasoline prices will drop as well.
I know you're hearing people, well, never going to go back to $3 gasoline.
And you, oh, no, never.
We might.
Nobody knows.
What we have is commonplace in the media, a bunch of gloom, doom, paranoia, stuff that's designed to scare you to death, to create crisis.
But at some point, these prices are going to come down.
And when they start dropping, everybody's attitude is going to go up.
Wow, the price is coming down.
All right, makes more sense.
And things will level off and get back to more normal circumstances.
My only, you know, my cynical nature is that all this stuff is going to happen so close to the election, either before it or after it, that people are going to start attaching the fact that people are waving magic wands to make it happen.
But I am telling you this, and I say this with all honesty, and I know that it's sometimes hard for people to hear, but if you doubt me, don't.
There are elected officials in the Democrat Party who are convinced they will benefit from the suffering associated with high food prices and high gasoline prices and throw incumbents, i.e. Republicans, out of office.
And if you think they don't think that way, and they're out there talking about how hard it is for you and how much they relate and how much they feel for you and how much they're going to fix this, and they're going to get even with the people that do this to you.
But they never do.
They let you suffer so that you'll get so mad at whoever is in power at the time, whether they've got anything to do with this or not, that you will get rid of them.
Let me give you some more oil data here.
Again, according to the U.S. Department of Energy, U.S. oil production has fallen approximately 40% since 1985, while U.S. consumption has grown more than 30%.
So in real barrels, U.S. oil production now below 5 million barrels a day.
It was approximately 9 million barrels a day in 1985.
So in 23 years, and see, it's happened slow, so people, the market impact here has been slow, it's been gradual.
But we've cut our production in half in 25 years.
And by the way, can I ask you a question?
In doing that, in those 25 years, global warming has gotten worse, has it not?
And in those 25 years, the planet's gotten dirtier.
Has it not?
According to what these people say, in the 25 years that we have stopped producing oil by half, we have cut our oil production in half in 23 years.
In those same 23 years, the environmentalist wackos who are behind this keep telling us how rotten things are getting, how horrible things are getting, and we're destroying the environment, the polar bears, the planet, you name it.
And we've been getting to blame for it.
And yet we've cut our production in half.
And you can see one of the results of this is the price that we're all paying for this stuff, oil-related products today.
At the same time, now this is going to really frost you.
While in the last 23 years we have cut our production in half, the government has put billions of barrels of domestic oil and natural gas off limits to domestic exploration.
According to federal government estimates, there is enough oil in the areas that we are now placed off limits, 112 barrels, to power more than 60 million cars for 60 years without importing a drop.
It's off limits.
The government because of the environmentalists.
So we're not producing this.
We're not getting this.
We've cut our own actual production in half in 25 years, and they still blame us for destroying the planet.
We keep hearing about Anwar.
Had President Clinton not vetoed exploration in Anwar in 1995, oil was $19 a barrel in 1995.
America would currently be receiving over a million barrels a day from Alaska.
Experts estimate that Anwar contains 5.6 to 16 billion barrels of recoverable oil.
Okay, now at $123 a barrel.
And by the way, 10 years ago, they said, well, it'll take 10 years to get the first drop.
We can't do it.
It's been 10 years and more.
We'd have had it.
It'd be online.
Now they say, that'd be 10 years if we start.
We can't count on that.
There are people, elected officials, Democrats and some Republicans, and entire members of the leftist environmentalist wacko organization who don't want this country to be energy sufficient and independent.
The environmental movement in this country is largely comprised of the militant and wacko realm of it.
It consists of displaced communists and socialists who want this country cut down to size because it's not fair to everybody.
The outer continental shelf in the United States contains over 44 billion barrels of oil and 232 trillion cubic feet of natural gas.
85% of the outer continental shelf is off limits to domestic exploration.
Can I put it to you another way?
44 billion barrels of oil and 232 trillion cubic feet of natural gas out there just off the coast, and 85% of it is off limits to domestic production.
And yet we have this whining and moaning about dependence on foreign oil and the resulting price increase in the Gulf of Mexico.
There is enough natural gas to heat 60 million homes for another 160 years.
Can you imagine that quantity?
60 million homes for another 160 years.
However, more than 85% of the coastal waters adjacent to the lower 48 states, which extend up 200 miles from our shores, are off limits to oil exploration.
You can't get the natural gas if you don't get the oil.
It's a byproduct.
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