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John McCain: Speech 08/01/08





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Uploaded on Aug 1, 2008

John McCain
Orlando, FL 08/01/08

JOHN MCCAIN (interrupting): "And by the way, Steve, keep drilling offshore, pal! Thank you!"
AUDIENCE MEMBER: "[...] You mention offshore [...] And I happened to see on CNN last night, they were talking about this offshore drilling. And that it would be at least 10-plus years before we get any benefit from that. And that only 3 per cent of the oil that we consume would [...] come from the offshore drilling. And I want you to help us with the real benefit of this. [...] As far as us receiving any benefit at the pump [...] that it would close to 10 years before we would receive it [...]"

JOHN MCCAIN: "I don't agree. In fact I met with oil executives just a few days ago in California -- as some call it Cal-i-fornia -- and the fact is that we can, using existing facilities, expand our oil production within months, according to these executives. And the fact that if we go offshore and if we find, as I'm confident we will, additional reserves of oil, that will have a beneficial effect. That is economics: that if you have a greater supply, that it has an effect on the price of whatever it is. And the fact is that in my view and that of oil company executives that I've talked to--the people that actually do it, not those that comment on television, but those that actually do it--we could, in a very short time, have a beneficial effect as we bridge the gap between our dependence on foreign oil and becoming energy independent [...] So I disagree with those experts and I've talked to the actual people that do the work, that are in the business that say within months and certainly within a very short time, we could have additional oil supply for this nation. So we ought to drill now."

LABEL: JM FL 08-01 (KF#6) GKY - ClipB - LS

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