of the senate finance committee, good to be with you this morning. >> there are various sides to every story. our next guest says big oil desperately needs to retain those tax breaks and subsidies. jack girard is the president and ceo of the american petroleum institute, a national trade association that represents the oil companies. he joins us live from washington this morning. >> thank you, ali. >> this is obviously a complex issue. it's start with the basics. you have companies, member companies that drill for oil in a hole in west texas. the simplest way to drill for oil. many who drill offshore and in complicated parts of the world and in canada, at what point across the board is it profitable to drill for oil? what price per barrel is the minimum these companies need to be profitable? >> it depends on the particular resource you're talking about. it varies across the globe and in part of the united states as well.