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What you and I both -- It would only 2% of the world's oil reserves we can't just drill our way to lower gas prices.
Now what we consume 20% of the world's oil.
We need -- all of the above strategy that relies less on foreign oil and more on American made energy.
Natural gas biofuels.
That was President Obama giving his weekly address from the campaign trail.
Down and -- Virginia.
And this is power play welcome back.
And for President Obama gas prices have turned into a matter of tremendous concern for his reelection bid it's something that we've been forecasting here but something.
That is now becoming more and more evident.
Trade -- is with -- still he is a Republican strategist we're going to start asking are people just to start wearing color coded shirts so that if we don't need to tell -- are and who's dean.
But you don't lose a but he is also.
My Fox News colleague and you want to show don't you Internet issue do I know you do W please before we get started plug your show and tell me.
Something absolutely wolf thank you so much.
Chris it's campaign insiders 11 o'clock.
Monday is as is clear on the screen.
Pat Caddell John the brutally -- talking about inside political news what's going on in the campaigns the kind of talk you can't get anywhere else.
Hard core in a hard court affluent hardcore just.
OK so let's go through the numbers very quickly gentlemen.
And let's look at this so.
Washington Post ABC news poll out today.
President Obama's job approval 46% disapprove 50% that's a flip from just a little more than a month ago when he was 50% of proof.
And 46% disapprove that's the kind of -- that -- president running for reelection wants to -- but why why Internet why did it change well Obama approval on economy.
Approve 59% disapprove.
That's a drop.
But here's a killer Obama approval on gas prices that's 26%.
You've told us before.
And have explained to us.
Why gas prices are such a liability for the president -- when you give us the the 22.
Had been shown lost.
I I will do that.
You know there's very little in campaigns Chris that affects.
Voters as consumers' -- -- gas prices are one of those things and voters tend to hold incumbents responsible and -- gas prices go up.
Poll numbers go down.
So -- so that.
It's simple enough.
-- On this on this subject.
The Republicans are saying that they can lower gas prices that it's possible to bring down gasoline prices even in the short term.
They point to the president -- the keystone pipeline and in Canada they point to the reduction of production out of federally controlled lands.
Basis points the EPA they say that he's driving up the cost -- gas prices and they can bring it down the president says -- That nobody gave no president can bring down gas prices.
Well I would argue listen to both that it plans for bringing down gas prices shirt when you certainly have long term.
Our long term place you know -- you know you're but the reality is -- deep industry with the president's not really isn't that the industry.
That's on the come a little bit on this that's on the futures of this so if you were basically.
Talking a -- ideas that are not gonna happen for awhile or you are.
Speaking against idea is that I -- are not giving the industry much confidence like keystone.
There's not -- -- be much there's not going to be much movement by the industry on this are gonna have much confidence to do that so you know he has -- property had an opportunity on keystone I -- I frankly have been incredibly surprised that he politically chose.
Not to go I think he's gonna knows he's got things.
There's no way he's -- -- that lots of all hang out there until November is I -- I'm actually -- should be here with -- has to say about the -- because I think could be politically I think he needs the support I want put a finer point -- -- -- for the president what what he's doing right now -- he's doing he's -- this -- -- -- 12 -- he says look.
No president can fix gas prices.
But if the Republicans would let me tax oil companies murder -- I could take that money.
And lower your gasoline cost by.
Lowering the amount of gasoline that you consume over the long term so he's doing an interest -- that he's absorbing the -- saying yeah gas is high.
But it's not really my fault actually it's the Republicans vote because they're protecting Royal Dutch Shell and Exxon.
-- -- -- Well what the White House is trying to do Chris is fight to withdraw our energy they don't think they can win the issue.
They know they're gonna be blamed for high gas prices.
And -- is right the president would love to -- for -- but because of issues with his base and some lobbying contracts associated with it.
I don't think you can reverse themselves before.
November so consequently he sort of doing a three step.
Not my fault blame the oil companies and by the way -- -- above so you can't really -- -- anything you want nuclear.
Tell you I'll give it to you you can happen and that's the approach that he's hoping for a fight to a draw the issue so we can win on other issues.
-- I -- -- John McCain.
I do yeah he ran for president the showtime.
Made a movie about I -- the -- enjoy the movie I did power play holds that he has does not have enough free time and would rather spend it with -- about playing the little black -- watching than watching that movie.
The John McCain Clinton -- John McCain was all of the about.
-- is it funny now to you at all that Barack Obama.
-- derided the Republicans on energy in 2008.
Is now has now stolen your team's.
From 2000 all of the about -- drill again do this -- had nukes.
I'm not saying it's a winning it's a winning formula.
I'm not certainly.
I'm not saying that -- John McCain being for all of the above is a is a winning formula it obviously wasn't and and it I don't think it's served him well both within the party and with independents but.
You don't listen -- On on this on the oil issue it's to me and I think to Republicans as simple that.
-- the Democrats were at least as president.
They don't want foreign oil they don't want us in the mideast regarding foreign oil they don't want offshore oil right now but yet we have an opportunity to get oil from our closest ally in the world.
And they and he doesn't want that I mean the other question I have for the president is has he spoken to the governors of these states where the pipelines going through and asking them what they want.
Because they may say you know what Mr.
President we need this we want this for job purposes and we think it's good.
And how you can -- and I used to overlook the Canadian menace that's just it's a -- they're just lurking and lurking out there all the -- Doug I've made.
A a lead and talked about today in the power play how foreign affairs and domestic -- meet at gas prices.
Do you think -- that American.
Voters I do -- I credit them for this.
But that American voters understand the nexus between them paying.
A lot more at the -- certainly a lot more than four years ago a lot more to -- with the ongoing problems that we're having with the Middle -- people get that.
Yet they do -- and I think the connection is a straightforward one I think they get that there's a crisis -- they're rare and there's questions about whether oil will go through the straits of Hormuz indefinitely and the impact on oil prices is clear and ultimately at the pump I think the average voter gets it and other than blaming the incumbent which is a natural and logical thing.
I think the voters sort of says I don't know what's going on but it's costing me more as I said before.
Invariably it weighs down the approval and vote share of the incumbent.
Now in terms.
What where this is gonna go Doug the president has some tools that his just goes one.
He can deal with speculation later if he doesn't and there's some disagreement here but if he does decide to approve the pipeline or do things.
That would increase supply in the medium term he can also -- everybody's favorite this strategic oil reserve.
Some -- my doubts and don't stand in the gulf that we pumped full of -- that the federal government buys.
Can't -- -- -- -- -- times this right to -- timing right so that he affects a downward push in gas prices and people feel some relief this summer.
He here's what I think you're looking at -- and you alluded to regress.
I think this summer if we get up around five or six bucks a gallon.
You're gonna see him tap the strategic him I'm -- -- the strategic petroleum reserve.
Largely been -- yeah because I don't think he's gonna have a choice because if it goes.
As high as six dollars in a gallon and his approval falls below 45.
It will be very very tough for him to come back.
That I think is the only short term play he has to restore confidence but he could only do that once maybe twice and it's gotta be time carefully.
-- can he do it can he throw the football through -- -- spiral through the entire well I wouldn't put I wouldn't put it.
Anything past the president and I listen I I think that if to Doug's point if it gets that bad and he's got to do something.
And he does it no way that shows leadership and shows that it's not going to impact.
Our country ordered industry down the road negatively then again I think he can do it -- -- -- Well I just heard a Republican accrediting Barack Obama he's grown in the tight spiral -- -- here's here's drag.
OK -- -- gentlemen we thank you so much for your thank -- -- my best to mr.
PowerPoint and all the little -- absorb general -- how little -- that we're not a power play I'm sorry no no none of them are dead and mrs.
power play my best.
Thanks Doug thinks -- -- good.
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