of energy. look at this. 1970. 9 million-barrels a day 1986, 9 million. declining slope all the way to 2008. we lost nearly 43% of the total production. joining me now to make sense of this, former shell oil president mr. john hoffmeister. we had the energy secretary steven chu tell us $8 gasoline is a good thing to get us off the dependence on oil. we have mr. bromwitch running the minerals management service and he has no idea the production in the gulf. what is with the obama administration? is it selective fuzzy math? what are they up to? when i retired from shell, the last thing i said to the board of directors in london was look. we probably going to have a different president, who will be anti-hydro-carbon. the anti-hydrocarbon president will make sure cost in the u.s. go up for the hydrocarbon
not service jobs with no benefit. but we can t get the administration and the democrats in the senate are more worried about tax breaks than the consumer price at the pump. eric: jobs go up, price of fuel goes. jobs go up and price of fuel goes down. eric: everybody around here when i walked in the room said what is going on with the price of gas? i said don t take my word for it. it set it up for three years but take john hoffmeister s word for it. price of fuel? this summer it will be around where it is now because there are uncertainties out there and geo-politics but that could change any day. $5 next year. i said six months ago, we are looking at $5 gasoline when we go to polls in 2012. as sure as we re sitting here. eric: quickly, the mighty mississippi river is cresting now. if it floods and overflows, there are refineries in the path of the water. will it impact higher prices?
nobody died. some people passed out. the whole airline industry has been in bad day for a decades. cnn i know that the talking point is the right likes to consider trained socialists. that s where you ll see many. skbl i took the train up here. there you go. he s a socialist. all right. let me take a break. i ll come back. our panel stays with us. big oil s dirty little secret. you may not need them as much as they would like you to believe. especially at the real price for their product. john hoffmeister joins the megapanel as our specialist talking about the movement towards energy independence in the country. group in north america and somehow sun life financial is the fifth largest life insurance people don t know our name. we re about to fix that. i hear you re the clown in charge.
chong. stoneers may call this research a buzz kill. much more ahead the fine and lovely monday in new york city. including the latest change in course when it comes to gitmo and the third class of prisoner. that is used for those folks and a few others. a budget battle providing plenty of drama, but not much in the way of solutions. plus, we ll look into our aging airline fleet in the wake of this weekend s south within jest hole in the airplane scare. and we ll have a little fun with charlie s road show after what happened in detroit. our monday megapanel convenes along with former shell ceo john hoffmeister. [ female announcer ] to do well, kids need to eat well.
refrain is to not let perfect be the enemy of good. we need action, and we need it now. we need to drive america forward to a sustainable policy. on the problems that plague us, energy kills the most birds in one stone. the technology and resources are there. it s a matter of musterring the will power. part of that process, of course, is exchanging our ideas with yours in search for solutions. and john hoffmeister is helping to drive that exact debate solving today s problems with today s tools. when the reporter comes the story, we ll sit with the new york times journalist held for a week by the gadhafi government. hey buddy, wattaya lookin a-oooh.