legislation next month. which is a function of meeting 60 votes to end the debate on a bill. the democrats sort of nominally have 69 -- 59 votes. there are some republican proposals out there, or democratic proposals with republican support, these would ramp up things like solar energy without greenhouse gas limits. again, that is sort of going into this meeting on thursday with senate democrats where senator reid is going to try to work out whether there is support beyond new electricity standards or on the republican side what senator lugar has called for, diversity standards calling for things like nuclear plants that capture and store their emissions. .

you have to have some powerful fuel or diesel engines for your

trains and stuff like that. why in the world do we have 12 million vehicles in the world run on natural gas and only 170,000 in the u.s.? why are we not using this natural gas? i hope this is in the energy policy. i think the cap and tax will ruin this country. any tax on oil or coal will drive this further down into a depression. host: is that part of the senate bill? guest: we do not know. there are a couple of proposals -- there are a couple of ways it can end up on the floor.

they could persuade the democratic colleagues to include it in the underlying bill that goes to the floor. it sounds like that is what they are hoping for what they would like. if they cannot get that, there is also the possibility that they could get it added as an amendment. the underlying energy bill may housethings like green ha gasses. regarding natural gas in vehicles, senator harry reid has said that he is a supporter of with boone pickens is talking fueling heavyas vehicles with natural gas. it is something that could be in

their proposal. on that point, using natural gas in the transportation sector, it seems like there is significant support for getting that into the energy bill. host: democratic , cincinnati. -- democratic line, cincinnati. caller: my husband and i are sitting here where the young man was interviewing the lady in the delta or what ever. he passed if mr. obama had a clue. the silliness of her answer -- we were going to give money to

the red cross for the gulf. we put our checkbook back in the door. that turns me off. my question to the young man sitting there, is this now going to be a wake-up call to the self to started diversifying the industry? guest:+ one of the things that has been a very complicated nature of the gulf spill is the idea of the offshore moratorium law while the administration conducts a detailed safety review to determine what has happened and prevent it from happening. while the gulf coast states depend a lot on fishing and

tourism and things like that, oil and gas drilling is a big part of their system. in the energy legislation that is coming up, dealing with the safety issues said that things -- that production can be up again is going to be a very big issue. it is not a partisan issue. you have democrats and republicans from the gulf states who would like to see as much drilling return to normal as quickly as possible. host: new york, independent line. caller: you are a very attractive and lovely host. i enjoy watching you. i want your insight into donald

trump. i am preparing cases for next year in business school. he said there are 100 million people going to the beaches this summer. a lot amounts of gasoline. and i live in southampton. i hope the beaches are ok. [unintelligible] i am a canadian so i know about oil. there is heavy crude coming out. i have a feeling it will go down to mexico. i think you will see the collapse in the price of gasoline, because 100 million

people will not be going to the beaches. host: what you think about that? guest: i am not entirely sure we know how widespread the impact of the spill will be and what it might do to the transportation fuel in terms of the summer driving season. it is an interesting observation. the level of driving this summer and gasoline is something we will watch very closely. host: we are talking about energy legislation in the senate. simon lomax is our guest with bloomberg news. next caller. caller: i am sick of the atlantic wind -- c.e.o. of

atlantic wind energy. one legislation peace that could improve this process -- the permiting is too expensive. if you have a product that is $5 billion in cost, the process takes seven years for it to move forward. but the time of phase one construction, you or almost at an increased cost of 30%. i suggest legislation be passed in that they appropriate emergency funding in the senate to appropriate emergency permiting for large entity projects that will help our country rid itself of its

addiction to foreign oil. host: that we ask you about subsidies for these wind projects. can you give our viewers an idea of how much money you get from the government for a project? caller: depending on the size -- megawatts, of the project, you can get as much as 40% as far as the project. host: in dollars how much? caller: that coincides with the size of each project. if you have a 16 megawatt wind farm, it could cost you from $110 million to $200 million. he would get roughly 40% of that cost. host: how do you justify that to

the taxpayers when critics say you get very little in output from how much taxpayers are putting in to subsidize this industry. when only makes up about 15% of our energy? -- wind only makes up about 15% of our energy? caller: it is not just w going not justind but a very diverse portfolio of energy which consists of wind, nuclear, solar, natural gas vehicles. with the jobs that we subsidize that wind farms and other renewable energy sources will bring to our country, i think that justifies the diverse portfolio in getting our citizens back to work within our great country. guest: can i ask you as someone who develops wind farms.

are they land-based or offshore? caller: lann-based and are currently involved in offshore development. due to nondisclosure agreements, i cannot say where. one of the great hurdles is the long permiting process that scares private capital investors from tying up those amounts of funds for paper work bureaucracy. guest: if those permiting issues that you talked about, if they were resolved to your satisfaction, what do you think the senate and congress should do this year? should they put a price on carbon? would that help your business more? or would it renewable

electricity standard for diverse energy standard that has been talked about by some republicans on the hill -- which do you think is the better option? i like the renewable standard that brings diverse types of energy. i do not believe in charging more on carpe andbon. we will -- carbon. we will be able to rid ourselves of a foreign fuel's going forward. i suggest that emergency permiting, especially on large energy projects that will reduce our dependence on foreign fuel will generate more capital at a more sustained pace and a quicker pace to get these projects in place. host: we have to let you go.

a producer will come on and get information from you. please hang on the line. we will move onto omaha nebraska. democratic line. you are on the air. caller: good morning. i am grateful for c-span. i have a couple of things about the way i feel about obama's speech last night. he did not mention anything about the government's coming in and doing things. bp does not have to do anything they do not want to do. he did not mention anything regarding american people and because of this. we still have people on the east coast hurting from the offshore

moratorium, but we should not be drilling in the water. we have to blame ourselves. host: does the legislation talk about deep water drilling in the moratorium? guest: trilling safety is going to be a big focus. that is the immediate process confronting lawmakers retina. -- right now. then it is a question of how much more room do you make in the legislation for other energy policies given that it is something they may want to move quickly on. host: virginia, independent line. caller: thank you for c-span. i am a first-time caller.

keep this bill moving. we need things to export. have a great day. host: phoenix, republican line. caller: thanks for your contributors, c-span, and the people that call in. it is a really complicated issue. it is a shame that -- it is hard to implement policy emissions, epa regulations when everything is coming from the top down. we under estimate as consumers the ability for us to change how we buy from, what we buy -- who we buy from, and what we buy.

the oil companies have tons of money. if we, write to them and the legislature, they have lobbyists that will go to washington for us. i am conservative. i am in an area where my environment, my responsibility as a consumer and what i can choose to purchase and choose to say to the companies that fail to make money -- are you seeing lobbying influence? guest: they are involved in every piece of legislation. it is basically because people's

interest are affected by legislation, so you have interest groups and lobbyists that tried to advance or defend those interests. the consultation that senator bieber men and a republican senator from -- lieberman and the republican senator did extensive outreach from the public stakeholders, the coal industry, the u.s. chamber of to balance all of these competing interests and address something that was implicit in the question. how'd you come up with a national policy in fairly states

in regions of the country that produce and consume energy differently? we have state that it almost 100% of their electricity from coal. you have some states that may have a small fraction of their electricity that comes from that. if you were simply to add a carbon tax, the state that gets much of its electricity from coal, just with that price -- you do not put anything in there to offset that expense, the people from that state would argue that that is unfair and hurts them to the benefit of those people that come from the state that does not use as much coal for their electricity. host: in five minutes, we will

talk about financial regulation that is being negotiated between house and senate. we will speak with a republican of new jersey coming up. vermont, democrats won. isl er: that col destroying an area in kentucky. people are getting sick up there. if we do not have an energy policy soon, we will have wind technology ancilla technology from workers in china exporting our jobs. the latest polls show 65% of americans want an energy policy. what are we waiting for?

last, 11 people died in that explosion. let's not forget that. these workers that do not want the moratorium should make a stop and think about that. host: on her point about investing in new energy, the president mentioned that china is spending a substantial amount of money on clean energy. give up or viewers the sort of technology they are looking at -- and give our viewers the sort of technology they are looking at. guest: turning coal into a gas to burn it more cleanly. wind and solar technology as well. china's economy is growing so rapidly and in such demand for electricity that they are

putting a lot of money into all kinds of energy, including some not so clean sources. this is a big issue in how you fit the united states and its climate policy into an international climate agreement, given that countries like china and india are expanding and industrializing as rapidly as they are. if they use a lot of or rely heavily on fossil fuels, that will produce a lot of carbon dioxide. the republicans that oppose some of the climate proposals in the u.s. are quick to point out that the increase that comes from developing countries and

the reduction achieved here -- unless there is an international that has them leaning towards a cleaner development process. they are looking and not at wind and solar -- a lot at wind and solar. host: independent line, illinois. caller: i have heard a good idea epoch solar roadways dot com. i have seen other innovative ideas that are not getting any play at all. how much do you think the current energy industry is going to drive the direction we go?

are we going to be trading and energy empire of oil companies and coal companies for wind and solar companies? guest: i think the connern that the caller just expressed is the way that the senators would try to say their policy would work in bringing the new technologies is if you put a price on carbon out there, that will bring in all kinds of venture capitalists and inventors to come up with ways we have not thought about to produce energy more cleanly. that is what i think as much as

electricity standard may be a kid thing, they want to put the price signal up their that would stir a lot of investment and find innovative ways to produce electricity and other forms of energy. host: banks. coming up, we will switch gears to financial regulations and conference negotiations happening on capitol hill between house and senate members. a republican from new jersey will be with us in just a minute. here is a news update from c- span radio. >> it is a clause 25 in washington, d.c. president obama hold his first meeting -- 8:25 in washington, d.c. president obama hold his first meeting with executives from bp. the president wants money to go into a damages fund run not by

the people at by an independent third party. the federal government wants to crack down on college recruiters. the department of education will announce the rules that will prevent colleges from paying recruiters for students or for in beijing in aggressive student recruitment. -- or for engaging in aggressive student recruitment. officials say israel will significantly ease its blockade of the gaza strip. it was under international criticism on a flotilla delivering aid to civilians. the israeli naval blockade of will remain in tact. france is raising is a retirement age from 60to 62. -- 60 to 62 to rein in its deficit. it has angry reactions from

labor unions and some parties. with demonstrations against the measure on the way before its unveiling today. those are some of the latest headlines on c-span reappear >> here is a volatile, emotional depressive young man. >> take a new look his tour of america. this is his new book. this is sunday on q&a. >> "washington journal" continues. host: our guest is here with us to talk about financial legislation. what are you hearing from your constituents. you represent new jersey.

many people that work on wall street, what are they saying to you about this legislation? guest: they are concerned about spending in general. the first topic that always comes up at the town hall meetings is this. they say let's not have more spending over there, which means no more bailout. stop bailing out wall street and everybody else. make sure you do not pass a bill that perpetuates it. host: does this legislation continue to do that? guest: absolutely. you had to the discussion in the senate a few weeks ago before we went on break with the $50 billion fund in their. -- there. when they pulled this out and

they said we ended the bailout, well, no. if you look in the bill, there are still lots of language that give the government' a lot of ability to step in and say we will help of this company, but not this company. where does this money come from initially? the taxpayer. it is a bailout host:. in the -- it is a bailout. host: more regulatory authority was needed. why not give that kind of authority? guest: you could have a long debate on this program on what happened during the times. i did not support the tarp bailout. that was done in an