we are criticized, i know i am for preaching all the time, drill baby, drill. this goes beyond that. if i could ask you open the reveal the envelope so i can step away and put this thing around. in addition to drill baby drill. it doesn t replace drill baby drill. it s in in addition. raise energy trading margin requirements. it has to be trade order an exchange. bear with me. it s a little technical. the reason why so many billions of barrels are traded is because the banks can trade it. people are allowed to trade it for little or no money down. at some point, goldman sachs decided they want to buy oil barrels it pushes the price up. if they sell them in the same day, they don t have to put a penny up to do that trade. it s a free trade for them. if they want to hold it
is now talk about dumping the u.s. dollar as reserve currency and that the international currency that is used to buy oil. if that happens, folks, we re going feel the wages of inflation everywhere especially at the pump. that trickles down to everything in our economy. it s one reason to get our debt under control that doesn t try to inflate away with currency manipulation like quaint taillight i have easing. so we did present a solution. it s not subject to the whims of foreign dictators that uses our energy insecurity to fund a lot of evil activities against us. we are asking the president if he is listening. we know the audience is listening. again with their input we have solutions to present. eric: great thoughts, governor. sir, tell us a story. i was during the surge in 2008 and i worked with the
. [ applause ] eric: welcome back. there is not a single person in america who isn t feeling the pinch from this gas and oil crisis. here is the deal. there is inherent link between energy and prosperity and energy security. oil prices affect everything in our life including where we send our sons and daughters in war. bottom line we need to drill more here where god dumped a safe energy supply. developing resources grows our economy and decreases trade imbalance. it creates hundreds of thousands good paying jobs and secures our union by eliminating dependence on dangerous foreign regimes. access to foreign and it s key to america s security. another thing. with america s unsustainable 16 plus trillion dollar debt there
now back to our special. [ applause ] eric: welcome back. for months we have been feeling the strain on our wallets. what is president obama doing about it anyway? gasoline and oil, the life blood of american economy. we rely on it to harvest our food. there is an oil and gasoline footprint on everything we do. oil and gasoline matter to us a lot. since president obama took office, gasoline is up over $2 per gallon, that translates to nearly half a trillion dollars stripped from mainstream americans and deposited into bank accounts of middle eastern sheiks and people like mahmoud ahmadinejad and putin in russia. why would the obama administration ignore a massive and unprecedented increase in
bullet here. we are criticized, i know i am for preaching all the time, drill baby, drill. this goes beyond that. if i could ask you open the reveal the envelope so i can step away and put this thing around. in addition to drill baby drill. it doesn t replace drill baby drill. it s in in addition. raise energy trading margin requirements. it has to be trade order an exchange. bear with me. it s a little technical. the reason why so many billions of barrels are traded is because the banks can trade it. people are allowed to trade it for little or no money down. at some point, goldman sachs decided they want to buy oil barrels it pushes the price up. if they sell them in the same day, they don t have to put a penny up to do that trade. it s a free trade for them.