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May 22, 2008 - Rush Limbaugh Program
36:05
May 22, 2008, Thursday, Hour #3
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The views expressed by the host on this program documented to be almost always right 98.8% of the time.
That according to the latest opinion audit from the famous opinion auditing group, the Sullivan Group in Sacramento, California.
Hi, my friends.
Great to be with you.
Rush Limbaugh meeting and surpassing all audience expectations on a daily basis.
Well, an appeals court has ruled that Texas had no right to seize hundreds of children from that polygamous sect that was holed up in that compound down there.
No right to seize hundreds of children.
It's now being discussed on the cable networks.
Anything of interest beyond.
I mean, what is there to say but this?
Well, there's nothing else to say.
I mean, we get this position of the kids now, and we know this will probably be appealed at uh at some point.
Uh moving on, ladies and gentlemen, I want to get into the latest on oil prices and other elements of that story, but here are the details.
Three Florida delegates, including the Florida Senate Democrat leader, have filed a federal lawsuit against a DNC, claiming that the DNC violated their constitutional rights by barring them from the party's national convention.
This litigation addresses the view of Howard Dean and a Democrat National Committee that 1.75 million Democrats can be ignored at will.
They're mad about this in Florida.
Operation Chaos has provided a roadmap and a blueprint here because they don't want to be disenfranchised.
They don't want to be three-fifths of a vote per vote down here.
They want their votes to count, and the Democrat Party is disenfranchising them in one of the greatest disenfranchisements since the 65 Voting Rights Act was passed.
Trying to secure the nomination for Barack Obama on a basis of not counting the voters in two whole states.
Lawsuit says we believe we found a winning legal strateger that'll once and for all force the DNC to not only obey its own rules, but to listen to the voices of millions of Democrats in one of the most influential states in the nation.
Yeah, the DNC, Howard George Wallace Dean, doesn't want your votes.
He doesn't want to listen to your votes.
He wants to disenfranchise you, as well as the voters in Michigan.
The lawsuit claims there are rules, which the DNC is obliged to follow, but did not, along with certain U.S. constitutional rights, the veteran state lawmaker and party superdelegates contender being violated.
And I know what they're doing.
That's got to be the 14th Amendment, the Equal Protection Clause, as I authored yesterday, suggested yesterday, this is the route to go.
Three essential issues here in a lawsuit.
Number one, the DNC broke its own rules by not investigating the events that led to Florida's early vote before punishing the state.
Number two, even though Iowa, New Hampshire, and South Carolina also broke the same party rules by moving up their primaries, they were not sanctioned as Florida was, but were instead granted a waiver by the DNC for any such penalties.
That's big.
Separate but unequal in the Democrat Party.
Separate but unequal.
And hell, Obama's out there saying, and he thinks the way to solve this is to give you count half a vote for every vote.
I mean, that's not even three-fifths, which is part of Democrat Party tradition.
As the controversy unfolded, this is the third point in a lawsuit as the controversy unfolded.
The DNC maintained that Florida should have held a post-primary caucus.
Doing so likely would have resulted in only about a hundred thousand votes being counted.
A tiny fraction of the 1.75 million voters who turned out in January, while at the same time completely disenfranchising Florida Democrats in our country's military serving outside of Florida.
So we don't want no caucus in Florida, yet it's a way to count not count even more of our votes, including our valorous military personnel.
Of course, in Florida, the Democrats didn't want to count them in 2000.
But here in 2008, they do wish to count them.
Count every vote, familiar cry among Democrats.
That cry set to be heard Saturday in Washington when the DNC Rules Committee meets at the Marriott Wardman Park Hotel in Northwest Washington.
There's a website called Hillary Responders.
Here's the message.
The DNC Rules Committee meeting that day to make a determination with respect to Michigan and Florida.
We think it's essential to convene in Washington to support our cherished Democrat principles, help enfranchise Michigan and Florida, and to show that Hillary has equally high numbers of passionate, devoted supporters who believe fervently she will be the better general candidate and the best president.
Our purpose is not to divide the party or attack the DNC or Senator Obama.
At the same time, Hillary's strong support cannot be dismissed in DNC efforts to unify the party.
How much coverage will this demonstration get?
I don't think it's going to get a lot.
It's on a Saturday, it'll be media bias on the prowl.
But anyway, ladies and gentlemen, hell's a poppin' out there in the Democrat Party over the disenfranchised.
Isn't it May 7th?
I laid all this out for the Democrats.
And now that Florida delegation, a Clinton campaign following the blueprint.
The only thing left to do now, in fact, they're even going to sue the litigation route.
They're doing the litigation.
Al Gore started this as a Democrat tradition, sue over election results, and are even doing that.
And I would bet you they're going to use the Equal Protection Clause of the 14th Amendment.
As I suggested yesterday.
Here is a story.
This is a Stop the ACLU.com by Warner Todd Houston.
The state of Tennessee has officially declared that from this point forward, it will accept only less educated student applicants for state, county, and city jobs in Tennessee.
Why would the people in Nashville make such a stupid rule?
Well, it's about control, you see.
The state of Tennessee controls the less educated kids, and they can't control the ones that show higher academic aptitude.
It's really just that simple.
It has come to pass that the state of Tennessee has officially invalidated the high school diplomas of thousands of homeschooled Tennessee kids, at least where it concerns their eligibility to apply for the positions of fireman, police officer, state government employee, even daycare worker.
Any government job or government control position that's the state regulates is covered.
So if you have a degree and you're home schooled, the state of Tennessee says it doesn't count if you want to come work for us.
The reasoning that the Board of Education used to justify this obscene act is almost a sensible sounding one since religious schools and homeschools each have their own curriculum that is designed by people not working for the state government, i.e., the state board of education, then the state has no real control or input in those curricula.
Therefore, the state cannot make the assumption that kids educated in institutions or via home programs meet the standards of an officially recognized state education.
Mr. Warner Todd Houston writes, like I said, this almost seems logical until one does a tiny bit of research.
Fortunately, Tennessean Rob Shearer has done just that.
He points out that while the state of Tennessee is claiming that homeschool kids have a diploma that the state cannot ensure what it represents.
The same can be said of the state-approved diplomas.
Turns out that the state of Tennessee does not require a minimum GPA for graduation from government indoctrination schools.
So did these kids get an A, B, or D. We really don't know, just looking at a diploma.
The state only requires credits for passing the 20 sum required courses.
The final determination only being that the student be proficient in the classwork.
So this look it.
Why are you so surprised?
This is exactly what the whole purpose of government-run education is all about.
You know, you dumb them down, you you teach them certain things, you don't teach them other things, and then you graduate them and you bring them into state government, city government, federal government, what have you.
This is why they're not going to give it up.
This is This is why they don't care to improve it.
And so if Mr. Warner Ton Houston here is correct, I think in his assessment, the state of Tennessee has said we only want the lesser educated.
We only want people who are not as well educated to come work for us in the state.
Be right back, folks.
Don't go away.
As you know, ladies and gentlemen, the uh big-time oil executives are being grilled up on Capitol Hill.
Yesterday it was the Senate Judiciary Committee today, some House Committee is uh is uh ripping into them.
But an interesting uh story here just posted at American thinker.com by Mark Shepherd.
Senator Chuck Schumer, who is on the Judiciary Committee, says that coercing Saudi Arabia to increase oil production by one million barrels a day would drop the per barrel price by twenty-five dollars, saving Americans sixty-two cents per gallon at the gas pump.
Now, wait a second.
It was it was just barely a week ago.
I remember this.
We had the audio on this program.
It was just barely a week ago that Senator Schumer said drilling in an war was a waste of time.
Because the same amount of oil, a million barrels a day, coming from Anwar, would only ease oil prices by a penny.
So a million barrels of oil from Saudi Arabia would drop the barrel price twenty-five dollars, according to Senator Schumer.
A million barrels a day from Anwar would drop the barrel price by only one cent.
Schumer repeated these words almost verbatim when grilling the big oil company executives during yesterday's Senate Judiciary Committee hearings.
Here's what he said.
If Saudi Arabia were to increase its production by one million barrels per day.
No, I'm sorry, it was May 13th that he said this, and then he repeated this yesterday.
If Saudi Arabia were to increase its production by a million barrels a day, that translates to a reduction of 20% to 25% in the world price of crude oil, crude prices could fall by more than $25 per barrel from its current level of $126.
In turn, that would lower the price of gasoline between 13% and 17%, or by more than 62 cents off the expected summer regular grade price, offering much needed relief of struggling families.
And he said that to the oil company uh executives yesterday.
And yet, I remembered we had we had the bite.
We had the bite.
Schumer after a press conference saying that it would only reduce and war, a million barrels of an war would only reduce the price of gasoline by one penny.
See, it's not even necessary.
Don't talk to me about Anwar.
It's not even not even necessary.
From the Washington Post today, skyrocketing oil prices stump experts.
Confused about oil prices, so are the experts.
Executives from the giant oil company say it's partly the fault of speculators, financial players.
Key financial players say it's really a question of limited supply, expanded global demand.
Some members of Congress accuse OPEC of bottling up some of its production capacity.
OPEC blames speculators, wasteful U.S. consumers, and feckless U.S. policy.
Almost everybody points to China's growing appetite for fuel.
Now, the second page of this story, Jeffrey Rubin, chief economist at CIBC World Markets, says the basic story that's brought oil from $20 to $130, is that world demand is growing robustly when world supply is not.
As a result, we need ever higher world oil prices to kill demand in the industrialized countries, which is exactly what's happening.
So here's the guy that's happy.
We need to kill demand.
In the industrialized countries, it's their fault.
We need to kill demand.
In other words, you you we we we better get used to doing away Or doing with less.
Now I remember when we first started talking about this last week.
I spent a little time trying to explain how these high prices at some point are going to burst because the markets will not be able to support this.
Look at what's happening with American Airlines, and they're just the first.
You know, Jet A, jet fuel, which is essentially kerosene, has now gotten to the point they can't raise their fares and stay competitive with other airlines.
The published fare prices, it's an advertising thing and a marketing thing.
They want to raise the fare.
But they have to recoup some of this increase in the cost of fuel if they hope to keep flying.
So what Americans done is announced they're going to ground some airplanes, gonna be fewer flights, less capacity.
They're also going to start charging for your first bag of luggage.
And you can look for a whole lot of incidental charges to be added on as well.
And I'm telling you, if if if the let's say that the price of kerosene per gallon got up to ten bucks, that that that that would that would have an effect on the aviation industry that it might not be able to deal with.
I mean this is just some point these prices have to have to come down because markets simply won't support them.
And you can sit there and say all day long it's a great thing, because we're going to reduce demand.
Look at there are stories out there.
People are of changing their diets.
They're changing what they eat before they are spending less on gasoline.
You all know about the American love affair with the automobile and driving around and so forth.
And in most cases, people have to.
I don't know how much joyriding goes on out there anymore.
A lot of commuting to and from work, going to grocery stores, shopping and things that you have to do.
It's not something you just park the car and take the bus.
And a lot of Americans don't want to do that.
Now, there's a story from the UK telegraph today by Ambrose Evans Pritchard, and the headline is oil's perfect storm may blow over.
The perfect storm that has swept oil prices to over $135 on $33, whatever it is now, a barrel may subside over the coming months as rising crude supply from unexpected corners of the world finally comes on stream, just as the global economic downturn begins to bite.
The forces behind the meteoric price rise this spring are slowly receding.
Nigeria has boosted output by 200,000 barrels a day this month, making up most of the shortfall caused by the rebel attacks on pipelines in April.
The Geneva consultancy Petrologistics says that Iraq has added 300,000 barrels per day to a total of 2.57 million as security is beefed up in the northern Kirkuk region.
There's a strong rebound in supply, said the group's president Conrad Gerber.
Saudi Arabia is adding 300,000 barrels per day to the market in response to a personal plea from President Bush and to placate Andrew Democrats on Capitol Hill, even though Riyadh insists that there are abundant supplies for sale.
So basically what's what's happening here, summarize this, why oil prices could come down.
What we know is that the International Monetary Fund has cut its forecast for world growth for 2008 three times since last autumn to 3.7%.
United Nations predicting just 1.8%, technically a global recession.
The major oil forecasters have halved their estimates for crude demand growth to 1.2 million million barrels per day.
So at slowing economy will equal less demand, which will of course reduce some of the pressure on supply.
The United States just added seven percent of crude demand growth from two hundred four to two hundred seven, compared with thirty-four percent for China, twenty-five percent for the Middle East, and seventeen percent for emerging Asia.
Goldman Sachs argues that fuel prices in most of these countries are held down by state controls, insulating demand from the effect of any global turndown.
Anyway, the the story goes on, and we'll link to it at rushlimbaugh.com, but essentially that there are pressures out there that at market forces, market pressures that are going to bring down the price of a barrel of oil and accompanying uh drop in the price of gasoline.
It just it just stands to reason.
I get up every day I see this 130 bucks, then 135, or whatever to 132.
And I frankly I've gotten a Point of laughing at it here because it's almost become it's to be it doesn't it's I know it's real but it's not real.
You watch this is not going to be supported.
And all these doom and gloomers out there saying $12, $15 a gallon of gas is inevitable.
Well, maybe in 15 years, who the hell knows?
But not next week.
Which is the tenor of these news stories.
I mean, at some point, you know, markets work.
Now, you know what a price a gallon of gasoline is in Saudi Arabia, it's like 75 cents.
In Egypt, it's 91 cents.
In these producing companies, and even in China.
China, in order to promote economic growth, is subsidizing gasoline prices for the people who have cars there.
The price of gasoline in China is under $2 or maybe under a dollar.
There are a lot of places in emerging economies where the government chicoms are chicoms, but they understand they need economic growth, and they need disposable income in the back pockets of their cities.
So that's why people in these emerging countries are able to go out there and buy gasoline out the wazoo.
That's probably going to change as well as these prices skyrocket, because the government's not going to spend that kind of money.
So you watch, folks, it's going to work out.
Oh, buddy Bow Diddley.
And welcome back, Rush Limbaugh, the excellence in broadcasting network.
As usual, half my brain and none of my mood today tied behind my back, just to make it fair.
Chuck Schumer yesterday talking to big oil execs said if Saudi Arabia would increase their output by a million barrels a day, it will reduce the per barrel price by $25 and the pump price by 62 cents a gallon.
One million barrels additional from Saudi Arabia.
Twenty-five dollars cheaper to buy a barrel of oil, sixty-two cents cheaper to buy a gallon of gasoline.
April 28th, Chuck Schumer at a press conference.
What does the president do?
He takes out the old saw of Anwar.
Anwar wouldn't produce a drop of oil in ten years, and it's estimated that if they drilled in Anwar in 20 years, it would reduce the price one penny.
We've been pushing for a long time for energy efficiency.
We believe in a price gouging bill so that the big oil companies can't collude.
We believe that there's too much speculation in the markets.
And we believe that ought to be reined in.
And not one thing that you believe in will produce one drop or BTU of energy.
So there you have it.
Your brilliant Democrat Party, Senator Schumer.
A million barrels from America reduces the price a penny.
A million barrels of Saudi Arabia reduces the price $25.
Look at this.
PMS, NBC.com.
Even the cost of a barbecue is heating up.
Oh, let's just scare everybody.
Let's just scare and make everybody chaotic and miserable.
Hamburgers and hot dogs, check.
Lighter fluid, check.
Beer, check.
More money.
Americans are about to fire up their barbecues for the start of the summer cookout season.
One thing's become painfully apparent.
It's going to cost a lot more than it did last year to roast a burger or just about any other barbecue favorite on the grill.
Food inflation is the highest in almost 20 years, driven by record prices for oil, gas, and mounting global demand for staples such as wheat and corn and for proteins such as chicken.
And that's reaching into America's back.
Does this story ever blame the people responsible for all of this?
Let me see if I can find the word democrat in this story.
Not here.
Why is corn so damn high?
Why is wheat so damn high?
Because of all these biofuels.
We're growing food and not using it to feed people.
And it's not reducing the price of gasoline, is it?
Is it, folks?
Is all these biofuels putting any downward pressure on the price of gasoline?
Tony Caballero.
I'm finding myself questioning every purchase, wondering if it's going to get eaten or if we really need it.
Who is an advertising and marketing consultant as he filled his cart with paper plates At a food emporium in New York City.
When you do your everyday shopping, you try to cut corners, but it's a shame to have to scale down when you're trying to throw a party.
Basic economics account for most of the increase in the family barbecue.
Bad weather has hurt crops.
Oh, give me bad weather has hurt crops.
Economic prosperity has driven up demand in developing countries, and surging fuel prices have raised transportation costs.
Economists and food scientists, a tenth grader could have written this.
Economists and food scientists have argued that biofuel production is also a major factor in rising food costs, particularly corn, and that it should be scaled back.
Meat and poultry executives have come out against federal ethanol mandates, which they say are driving the cost of corn higher.
Carol Tucker Foreman, food policy expert, consumer Federation of America, said a high fructose corn syrup can be found in just about anything that you'd find at a cookout or picnic.
The backyard barbecue is where you'll see the most impact from the government's decision to subsidize the use of food to put fuel in our cars.
From the ketchup to the paper plates, these are the things they're going to cost you a lot more than they used to.
And this is just the beginning.
Next year it'll even be more expensive just to stay home and make burgers.
Oh.
Tremble Tremble.
Well, ladies and gentlemen.
I've often said, over the course of many broadcast years, if they're going to throw a recession, don't participate.
And many of you have smirked and said, yeah, easy for you to say.
Well, I'm having a huge barbecue on Sunday.
I got a bunch of people coming over.
I'm not using paper plates.
I'm using plates that I paid for long ago.
Won't cost a thing to use these plates.
I'm using real standard plates, the kind of stuff you put on a table when you have dinner.
No paper plates, no plastic cups, none of this.
Well, I do have some plastic glasses that insulate the uh the uh contents from so there's no sweating in the glass.
But I own those too.
The only thing we I have ketchup, mustard onions.
I have this stuff stocked.
I have purchased this well in advance.
I have my beef, I've got the chicken, I've got the hot dogs, I've got the burgers, I've got the ribs, I've got it all.
I've got it from Allen Brothers.
You cannot get this stuff in stores.
Allen Brothers makes beef for steakhouses.
You know, real USDA Prime.
You go to the grocery store and say prime on it.
It isn't in many cases.
Sometimes it is.
Real prime, they only make two and a half percent of all the beef in America's prime, and it goes to places like Allen Brothers that supply steakhouses, but you now can get this beef from them as I do.
And you can get size, you know, wagyu hot dogs or wagyu burgers, which is American Kobe, uh, regular steak burgers in whatever size you want, six, eight, twelve ounces.
Uh regular-sized hot dogs, jumbo hot dogs, you're gonna have a whole selection here.
Burgers, hot dogs, ribs are gonna have some chicken out there, and uh the vast majority of it is already in the freezer.
It comes flash frozen.
So it's, I mean, it's you when you thought it's just like you would you got it fresh.
So the amount of money I'm gonna spend on my barbecue this Sunday, I probably spent it three weeks ago.
Nobody's gonna have to go to the store.
Well, the chef will have to go get some stuff, but minor.
This story does not relate to me.
Paper plates, plastic knives and forks, and a barbecue at home.
I can understand if you're gonna go to the neighborhood picnic in a park or something, you know, take that stuff.
But come on, there are ways to avoid buying paper plates.
If you want this Allen Brothers stuff, go to ABstakes.com.
This is the best beef I've ever tasted.
I send out invitations to my parties.
People that don't get invited hint and beg to come.
If they know I'm serving Allen Brothers, they got two different, you got the Rush Pack, you have a Rushmore pack, you can get eight free steak burgers, an executive EIB apron in the Rushmore pack.
You got a rush sample pack, also get the eight free steak burgers in that.
Warn you, once you do this, nothing else will be good enough.
ABstakes.com or call 800 26001.
And don't let this stupid story from the AP ruin your barbecue for cr.
Everything goes up every year.
It's the way of the world.
Who's next on this?
Margie in O'Cala, Florida.
Hi, Margie, welcome to the EIB network.
Hi, Professor Rush.
Hey.
Just an honor to talk to you.
Uh, I I just had to persevere and just call and thank you for such an inspirational program that you had recently.
Uh when you interviewed Jim Nance.
Uh it just confirmed why I've listened to you for the last seventeen years and why you've been my lunch date all this time.
I I probably had lunch with you uh more than my husband.
Well, you know, I've had lunch with you more than anybody else, too, the last twenty years because I don't have lunch.
Oh, well, there you go.
Anyway, uh you're very kind.
You know, that was a great hour.
I didn't intend for Jim to be on.
It was last Friday.
Yes.
And I I didn't intend uh I mean, we talked about it, it just flowed, and I just get at the end of every segment I asked him if he could stay.
But it's a great, great book.
Um it's all about family values that were instilled in him by his father and his mother.
It's called Always by My Side.
He's got some fabulous stories about the people he's met in his life, and what I you know, is when he was six years old, he wanted to be an announcer for CBS sports, and he is.
I mean, it's it's uh it's a it's a book about how dreams can come true and how you prepare for them and you know the luck equaling preparation, equal uh meeting opportunity and so forth.
I'm glad you enjoyed it.
I I really did.
I'm not much of a a sports fanatic, but I think there's more in that book, probably than just sports and it and I've even read some excerpts online, and i it's just just uh it's not a book about sports, and and Jim doesn't look at sport, he's not a sports highlight.
He said this Friday.
It's life lessons.
It's it's it's it's about how to deal with the setbacks and uh and victories and moving forward and learning from the people who are the best at what they do.
I mean, that's that's I mean, he's had the opportunity kind of like me.
One of the great things I've enjoyed about my success is the people I've been able to met who are meet who are the best at what they do.
Well, in his case, that those include presidents and members of uh uh various sports communities, some athletes do announcers and so forth.
But it it is it's a great read, it's very inspirational.
Uh, and I'm glad you you should get it.
Yes, I I'm thinking about getting it for my dad.
He can he's not a big sports guy, but I think he would enjoy what he has to see you know say about his father.
I it was just to me what was so exceptional is uh how he honored his father, um the stories that he had to say.
I mean, those aren't really themes that are really out in our culture right now, and uh I just to me it just brought um you know something I can identify with and having a a father that ha uh really raised my sister.
Yeah, well, you know, this is that's this is this is exactly what I say about the people who make the country work.
Uh you you say that that such father-son relationships are not out there in the culture.
They may not be in a culture, but they're happening.
It's just the pop culture media is not reporting because it's boring.
You know, the days of uh uh Ward and June Cleaver and the Donna Reed Show, though people watch those things and laugh now at how silly uh they were.
But people still raise their kids that way, a vast majority of people do.
And that's what's good about this book.
Here's a very public figure explaining he's no different than anybody else in how he was raised.
So I'm glad you I'm I'm really glad you enjoyed it, Margie, and I'm glad you called to talk about it.
If you if you're just joining us for talking about Jim Nance's book, uh Always by My Side, when he was on the program on uh on Friday at 485 on uh Barnes and Noble.
And when I get off the plane in Los Angeles on uh Friday night, I had an email from Jim.
I think it had moved to number 15, and then over the Saturday moved to 14, and Barnes and Noble went even higher than that.
Uh and I think he's he's just now starting to do his regular uh tour of uh interviews on on various programs.
But we wish him the best.
Well, I I would hope, and I told him, I said it's a perfect Father's Day book.
And that's coming up in June.
The timing here is perfect for you to end up uh very high on the New York Times list, perhaps.
Uh even number one.
And I said, I'm not making any guarantees here, Jim.
But uh yours is a book that deserves it.
We'll be back.
We'll continue after this.
Stay with us.
Look at that, folks.
Two tornadoes now have touched down near Denver, Colorado today, and we've got this huge fire going on out in Santa Cruz, the Santa Cruz Mountains in California.
And it just sickens me.
It sickens me to watch this.
Because I know that if we had invested in global warming and invested in in reducing the planet's uh CO2 carbon footprints and all that, this wouldn't be happening today.
The fire wouldn't be happening, people wouldn't be leaving their homes, there wouldn't have been any tornadoes in Denver.
I mean, there's hailstones the size of golf balls falling on greeley color.
That wouldn't be happening.
When are we going to learn?
If we would have just invested, like Gore said, in uh in reducing our carbon foot.
If we just stop breathing, you know, breathe half as much.
Our carbon footprints would be studying, it wouldn't have happened.
And I saw the National Weather Service, a hurricane center came out with their forecast.
And it's today, it's disaster.
Uh, what is it?
We're gonna have between one and fourteen storms.
We're gonna have between two and eight that might be major.
We're gonna have between three and four that could be really, really bad.
And after that, we're guessing.
And a guessing anyway.
No, it's it's something like eight to eleven and then three to five.
It's just the usual.
Above average uh active season.
For uh hurricanes.
One more thought on oil.
One thing you have to keep in mind about big oil companies, and this this is this is just something that you gotta keep in mind.
What do they do?
Obviously, they they they produce energy.
They find oil, they drill for it, they bring it up, they send it off to refineries, some cases they own the refineries.
But like every other company, they have a duty to their shareholders to keep stock price up.
And so it may well be that some of these companies don't want to really massively increase the amount of oil they produce every year because they they don't want to overshoot one year so that they uh can't meet their expectations the next year.
They want to be able to have a steady show show a steady increase in production uh for their stockholders and so forth.
You imagine if uh whatever their production is this year, they up it by 20% next year.
Ooh, wow, really good.
Then the year after that, they can only up at 10.
You know what Wall Street analysts are gonna say?
Big oil in big trouble, can't meet demand, stock price goes down, not good.
I'm I am saying this to you only because there's more oil out there than anybody can shake a stick at.
It's just it's just a question of um going to get it.
Here's Josephine in Montauk out of Long Island.
Great to have you here.
Welcome to the program.
Hi, Rush.
How are you doing?
Fine, thank you.
I just saw something on television the other day about Obama's speech telling us we're eating too much.
They're always told we drive too much, now we eat too much.
I don't have the quote.
I have that we hex the actual soundbite from yesterday.
It's absurd.
It's outrageous.
Look at he, it's right out of a college planner textbook.
Starts out by saying, look, we're three percent of the world's population, we're 25%, we use 25% of the world's energy.
The days where we can just drive where we want to drive and drive and eat more than we have to, and eat all we want, and keep our thermostats at 72 degrees, those days are over.
The rest of the world doesn't look at us favorably like that, and doing that is not leadership.
So I mean, is it Jimmy Carter too?
I can't believe it.
I uh even prisoners get a second helping if they want one.
It's unreal.
This is well, I'm telling you that this is that he just told the American people you are gonna have to start doing with less, and I'm gonna be the one that sees to it that you do.
Now, the last time the Democrats had a candidate like that, his name was Jimmy Carter.
We were in such misery, we had a misery index to tell us, and Jimmy Carter.
I'm old enough to remember him.
All right.
So you lost in his party lost in the 49th state landslide.
This is this this guy, I'm telling you, it's an empty suit, Josephine.
All this talk about how brilliant Obama is, he's an empty suit.
Those speeches of his on his teleprompter are written.
Uh his his policy ideas are straight out of every Northeastern Ivy League liberal classroom, and every liberal professor has ever, you know, tried to inculcate a young mind with.
I don't think it's an original thought that comes out of his head.
Okay, folks, have to skate out of here, have to hit the trail.
But we'll be back tomorrow for open line Friday.
Exciting.
Can't wait.
See you then.
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