>> such assurance is very important.that is why we are consulting up with other nations on what is the best vehicle to do so. it is very important to be able to stop the flow of arms into the gaza strip as it is so vital to be able to open up the gaza strip to humanitarian aid and more normal economic activity. my friend makes a powerful point. >> i join my colleagues in condemning the actions that were taken by the israeli government. two of my constituents are currently in the tension in israel. i thank the consulate for the work they are doing with them. i am concerned about their positions. i agree with the foreign secretary that an international investigation and independent investigation is important. notwithstanding that, would you agree to meet with my constituents and others who are there because nothing beats hearing it from the horse's mouth? >> yes, we are already working on plans to do this so the answer to your question is yes. >> is in its crucial to ensure that the peace talks resume and that the role of

now we ask that bp take financial steps consistent with its assurances. president obama and 54 members of the u.s. senate have called for the establishment of the independently dministered $20 billion escrow fund. mr. mckay, i further call on bp to deposit dividend funds into this escrow account so that the citizens of the gulf and the taxpayers f this country can be a short they your commany will meet its obligation. i yield back the balance of my time. >> we thank the gentleman. the chair recognizes the gentleman from utah. >> bank, mr. chairman, from holding this hearing. -- thank you, mr. chairman, for holding this hearing. i know the way that your company does business and we're also going to hear about the explosion on april 23 you will discuss your safety records and lessons learned from past events. i think it is fair to say that many of your companies are immune from criticism and accidents couldst happen at any place. as has been mentioned already on friday night, the chevron pippline began leaking in salt lake city, and before being shut gallon

>> the assurance -- let me >> the assurance -- let me welcome the honorable lady

a few months ago, i approved a proposal to consider new,, limited offshore drilling under the assurance it would be safe, that the proper technology would be in place and necessary precautions would be taken. that obviously was not the case in the deepwater horizon rig. and i want to know why. the american people deserve to know why. the families i met with last week, who lost their loved ones in the explosion -- these families deserve to know why. and so i have eetablished a national commission to understand the causes of this disaster and offer recommendations.i've issued a sh moratorium on deep water drilling. i know this creates difficulty for the people who work on the rigs. but for the sake of their safety and the sake of the entire region, we need to know the facts before we allow deepwater drilling to continue. while i urge the commission to complete its work as quickly as possible, i expect them to do that work thoroughly and impartially. one place we have begun to take action is at the agency in charge of regulating drilling and issuing permits, known as the minerals managemen

and the chairman assured me that he would keep them in mind. that is going to be the standard by which i measure bp's responsiveness. i think today was a good start. and it should provide some assurance to some of the small business owners and individuals down in the gulf who i was visiting with that bp is going to meet its responsibilities. but i indicated to the chairman that, throughout this process, as we worked to make sure that the gulf is made whole once again, that the standard i am going to be applying is whether or not those individuals i met with, their family members, those communities that are vulnerable, whether they are uppermost in the minds of all concerned. that is to we're doing this work for. all right? thank you very much, everybody. >> ladies and gentlemen, we have had a very constructive meeting today with the president. we appreciate his deep concern and we appreciate the deep concern that he has for the people in the region. and you can see from his speech today the frustration. the president senses the sadness and the

>> of course i can give the honorable lady that assurance. me first of all congratulate her on her election to this house, and say how much we want to make sure, in spite of the difficult decisions that we have had to make in the budget, that we go on helping and regenerating communities that face difficulties. i have visited the site in wigan where the new lads and girls club is to be built. -pthat is the result of excellet joint work between the private and public sectors, and we need many more projects like it. we will have more to say about that next week. >> simon hart. >> the prime minister will be aware of the vital contribution of the 23,000 territorial army and other reservists who have fought in afghanistan, iraq and the balkans in the last six years. so far, 22 have lost their lives in those operations, and the ones who survive are twice as likely to get post-traumatic stress disorder than their regular counterparts. what recognition and support can the prime minister give to the thousands of employers who routinely allow staff to

just increasing the rate was done by the congress does not assure a robust medicare plan. in fact, in crucial wayings it undermines it. by allowing signaling to plans, as the rates got very, very high, relative to fifa services, we had a large influx of private fifa service plans that were adding very little, if any value to the medicare program but that was not in the interest of the medicare advantage program. to allow low value performers to do very well. if you reduce the rate, yes you make it more difficult in the first instance. but it's also the spur to finding ways to do things better that is needed. that's what drives markets. it's that spur, that pressure to find new innovative ways to produce a high value product. that had gone out of the medicare advantage program due to overpayment. and so, there is a lot of waste in traditional medicare. you know, we fill books each year documenting the waste in traditional medicare. an innovative private plan, well managed and really focused can find ways to provide medicare benefits, plus more to the medicare population for

.+ will he please assure us what the -- assures that the government will do what they can to help this constituency that has been dealt a very cruel blow at this very difficult time? >> i quite understand why my hon. friend wanns to raise this issue. obviously, the govvrnment will stand ready to do all it can to retrain people who have lost their jobs and to make sure that they get the best opportunity. also, we will make sure to the golan to maae sure we have the best financial services sector. this is not just about the city of london. it is about the fact that millions of people in our country work in financial services, providing good service, and we need to help them. >> onee of the projects that stands to be affected by the decision of the government to put 600 million pounds of housing investment on hold is the economic recovery. [unintelligible] will the prime minister tell me what priority he will attach to the regenerative affect of the >> eeerybody wants to see regeneration continue in birmingham. i paid tribute to the birmingham city council. we want to see that regeneratio

what we want to assure is that as we move forward with programs that they are going to be safe and that this cirmstance that we are facg with the deep water horizon never happens again. but right now we have multiple inveigations that will culminate through the president's commission. and i think it would be unwise for us to move forward with deep water drilling until we have those recommendations that are in front of us that we can then implement. >> just looking at the bp 583 oil spill response plan that was approved. the plan includes how to protect wall russs, sea lions and sales. none of which live in the gulf. can we will assured that in six months that the pause button will be pushed or doe look at having a stop and extending this a longer period of time, focusing on the economics of that region? information is being developed as to the root cause of the incident. i hope to work with members of the committee on so we have organic legislation with these functions. we are not waing. 30 day report that we submitted to the president. we worked on that very hard. and ilude d work inin

we have agreed today with the president on a framework that should assure the american people that we mean that what we say. we will look after the people affected and we will repair the damage to this region and to the economy. we are announcing today, as you heard the president, a $20 billion commitments to make sure that all appropriate claims are handled swiftly and fairly. we have also announced an independent adjudicator to make sure that the right people will get the right money at the right time. the bp board has today decided that we will not pay any further dividends this year. we made it clear to the president that words are not enough. we understand we will and should be, just by our actions. what is clear today is that this demonstration -- that this administration and our company are fully aligned to clean the beaches and care for those who are affected. finally, i would like to take this opportunity to apologize to the american people on behalf of all the employees at bp. many of them are living on the gulf coast. i do thank you for the patientce that you have exhibited

is this the same kind of assurance your giving us now? but throughout my tenure, i have been very explicit about the priority of safety at bp. is the first word i touch your any time i talked to any group of people in -- the first word i utter. we have made very significant changes to our processes, to our people, and invested very significantly into the integrity of our equipment over the last three or four years. >> that need to say with all due respect, like everyone else here and everyone else in america, i am thoroughly disgusted. i think you are stalling. i think you are insulting our intelligence, and i really resent it. mr. chairman, i yield back. >> mr. hayward, this is a picture of an oiled pelican. this is our state bird and louisiana. i keep this on my desk as long as we are battling this as a constant reminder of what is at stake. i want you to keep this in your mind as well, to recognize we are not just talking about the loss of life, which is tragic. we are not just talking about the oil that is still spewing out of that we

can you assure us that under oath that that was not a decision made to save time and money? >> i wasn't part of that decision making process. . i'm sorry? >> i was not part of that decision making process. so, i can't possibly know the basis on which that decision was taken. >> how much money was saved by using the single string casing? >> i believe the documents refer to a sum of, i think, i think, $7 to $10 million. they refer to the fact that the casing would as a screen. >> please submit that for the record. how much time was saved? >> i don't recall how much time was saved. there would have been some time saved. >> would you submit that for the record, please? you had the option of using a number of single edgers to keep the casing in center of the bore holy. haliburton recommended 21. you ultimately chose to use two. can you tell us under oath that the decision to use six centralizers instead of the recommended 21 was not made to save time and money? >> i was not involved in that decision, so it's impossible for me to answer that question. >> all right. can you tell us

and the chairman assured me that he would keep them in mind. s that going to be the standard by which i measure bp's responsiveness. i think today was a good start and it should provide some assurance to some of the small business owners and individuals down in the gulf who i was visiting with that bp is going to meet its responsibilities. but i indicated to the chairman that throughout this process as we work to make sure that the gulf is made whole once again, that the standard i'm going to be applying is whether or not those individuals i met with, their family members, those communities that are vulnerable, whether they are upper most in the minds of all concerned. s that who we are doing this work for. all right? thank you very much, everybody. >> the chairman of bp announced that his company would delay didend payment to investors until oil spill claims were met. >> ladies and gentlemen, we have had a very constructive meeting today with the president. we appreciate his deep concern and we appreciate the deep concern that he feels for the

woulhe please assur us the government wl do all hcan to help the conituent who are beingeahisery crueblowat ts very dficult time? >>hank you, mr. spker. iite understand why m honorae friend wants to raise this iss it's desperate sad what's happenedo the building societ obviously, the gernmentill stand rey to dol it can to retrain people who have lost theijobs. and take sure tha theget thery best oortunity a to makeure we go on having a ro financial service sector. this is not as the ilding societreminds us. is is not just about theity of london. it about tt that mins of people in our untrrk in fincial services, providing a go serve, a we need to he th. >> one of e pros that stands to be affec by th decisionf the government to put 600 millionnds worth of hoing investment o hold is the housing elements, the redevelopment of theg bridge site in my constituency, ich is iornt not just that area but to the ecom coverya ole. give t fact thahat proct liberal democrat coalition that ru the cy uncil,ill the prime minister tl me what prioty he wittach to the regenerativeffects ohousin projects like

i can assure you the body of the gunman has been found by the police. the statement would be made to parliament tomorrow. when communities are suddenly shattered in this way, our thoughts should be with those caught up in the dramatic events, especially those killed or injured. &&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&& >> the biggest concern is that appointed by the legislative. will you confirm that you will make all our lawmakers accountable to? >> i am grateful for my hon. friend for asking that question. i do not always give him answers that make him happy. there will be a session for the house can vote on. i am delighted that an agreement has been reached on the program. i can already hear what a talented is going to be how to achieve the consensus that we need, and i hope after all the promises of reform we can move toward a second chamber. >> harriet harman to. >> can i join the prime minister in paying tribute to those in the royal marines and to the royal itinerary. they were brave men who died in the service of our country. we must never forget the sac

secretary, i assure you, of that. and some of it, i don't know, might have to come through a supplemental. because we will likely have a cap on our budget. but we'll do the very best we can. there is no question as to the need and necessity. so thank you. senator alexander? >> thanks for this hearing and i look forward to discussing in more detail the proposals. just to go back to the moratorium question, just a moment, and i guessmy inclination, i will just speak for myself -- i won't compare mine to others. let's just say those of us who have raised questions about the moratorium, here's my view. nothing is 100% safe. there is a fellow we haven't heard much from named cass sun stein who made quite a name for himself balancing risks and the cost to benefit for decisions that need to be made. i perfely understand the difficulty of saying, we've got a terrible tragedy here, let's see what we can do. we tried to figure out how we don't ever have that happen again and epa will take over that kind of regulation. %%al mine

also policy that assures the safe, environmentally responsible production of all forms of energy along with its wide use. healthy and growing economy. another key element of the comprehensive energy policy should be federal action to address global climate change. as you're aware conoco philliis supports package of a comprehensive federal law establishing a clear and transparent price for carbon. a federal legislative framework that must provide a program to manage transportation emissions while protecting consumers and encouraging investment in lower carbon technologies and also must address the energy intensive trade exposed nature of our domestic refineries and create new mechanism, especially for regulating greenhouse gas emissions. this would be in place of the clean air, clean water and endangered species acts and other federal and state programs. you must recognize the sense am role of natural gas in achieving a lower carbon energy future. lastly, in order to achieve our national energy goals, u.s. energy policy must create supply, diversity, promote technological innovation, en

and the chairman assured me he would keep them in mind. if that is going to be the standard by which i measure bp's responsiveness, that was a good start and it should provide insurance to the small business owners and individuals that bp will meet its responsibilities. i indicated that through this process as we worke to make sure that the gulf is made whole, the standard i will be applying is whether or not those individuals i met with, their family members, those communities that are vulnerable, whether they are uppermost in the minds of all concerned, that is who we are doing this work for. thank you very much, everybody. >> we have had a very constructive meeting today with the president. we appreciate his deep concern and we appreciate the deep concern that he feels for the people in the region and you can hear on his speech today how his frustration. i trust also that we threw the meeting that the president sends the sadness and the sorrow that we feel for this tragic accident that should never have happened. bp, we have always met

we found that all of these companies, not just bp, made the exact same assurances. that covers of the five response plans are identical -- are different colors, but the content is 90% identical. like bp, three other companies include references to protecting walruses, which have not called the gglf of mexico home for 3 million years. two plans are such dead ringers for bp's that they list a phone number for the saae long-dead expert. the american people deserve oil safety plans that are ironclad, and not boilerplate. we now know the oil industry and the government agency tasked with regulating them determined that thhre was a 0% chance that this kind of undersea disaster could ever happen. when you believe that there is a 0% chance of a disaster happening, and you do zero% disaster planning. and the oil industry has invested nearly zero time and money into devvloping safety and response effort. the oil companies before us today amassed nearly $289 billion in profits over the last three years. they spent $39 billion to explore for new oil and gas. yet the average inv

>> the assurance -- let me welcome the honorable lady to her place. the assurance i can give her is that we are going to increase the number of university places by 10,000 in the coming year, because we want to see higher education expand. the other assurance i can give her is that we are committed to the browne review that the last government set up, on an all- party basis, to look at how we can make sure that higher education is affordable both for the young people going into higher education and for our country as a whole. >> harriett baldwin. >> thank you, mr. speaker. and can i praise the prime minister's staunch support of the nhs -- [unintelligible] and its budget, and use this opportunity to invite him to malvern to open our brand new community hospital some time at his convenience this autumn? >> can i thank the honorable lady? don't be -- don't be so -- >> order. it is not against the rules of the house for a government back bencher to support the government. it is not that odd. [laughter] mr. prime minister. >> mr. speaker, we all remember

his mission includes assuring visibility. under the previous administration, he served as the department assistant to the president, the staff secretary and the special assistant to the president and counsel. mr. bowen was a partner at a law firm and was also an intelligence officer in the united states air force, achieving the rank of captain. he holds a b.a. from the university of south. we welcome you back, sir. you've been with us before. mr. richard fontaine previously served as foreign policy advisor to senator john mccain for five years. during his tenure with senator mccain, mr. fontaine worked on foreign policy legislation such as the 9/11 implement station report. he is a policy analyst in the asian affairs directory. prior to that, mr. fontaine worked with richard armitage. mr. fontaine holds a b.a. from tulane university. i want to thank all of you for being witnesses here today and for taking time out of your schedules. looks like i'll swear you in and we'll go down and vote. maybe we'll get one or two statements

i want to assure you that the actions we will be taking will not wait for the report. we will be working with the banks. we have been working with the banks already to have them modify their compensation practices. >> dec a real change in compensation practices since before the downturn until now? will people be able to tell the difference? >> compensation practices and need to change said there is not an incentive to take excessive risks. when the trader gets all of the upside and none of the downside, that is what we are trying to get rid of. >> what do you believe it will be the dollar cost to the taxpayers of tarp? >> the direct cost for a financial institution including a i g is not very large. except for aig, all institutions have repaid with interest and dividends. i believe they will repay. the financial institution part, the direct cost is quite small. it may in fact be a profit. that does not include some of the uses such as the auto makers support and the foreclosure program. the treasury has provided numbers on those. i think they had an overall cost of $11

it seems the assurances we received were empty. without the insistence of residents, the decisions of like lean and lmrk, it seems no commaze would have been made. this is troubling and i look forward to hearing from our witnesses as to what they think we as a committee and a congress need to do. i remain reluctant on new drilling. i think enforcement of regulations could improve safety measures for off-shore drilling that is now permitted. that incceased regulation of the companies involved in the process. and the fullest possible recovery for all that has been damaged must be a part of our responsibility going forward. that you, mr. chairman. i i yield the balance of my time. >> thank you. as members know, our subcommittee just don't do a hearing or two. this is our second learg. we'll be doing another one within the next two weeks with the head of bp, tony hayward, up in washington, and later this month we have a fourth hearing set. so like hurricane katrina, our committee came down. i led that group. with the health aspects aft

he in turn assured me that he expects and wants me to provide that character of advice. as i also explained to this committee two weeks ago, i specifically agreed with the message is of greater commitment and greater urgency that the president expressed his address at west point last september when he announced the new policy. the greater commitment was explained in terms of the additional 30,000 u.s. forces, the troubling of the u.s. civilians, and the funding for an additional 100,000 afghan security force members. to greater urgency was highlighted by the predent's announcement to begin a process in july 2011 of transitioning to afghan forces an official and beginning of responsible drawdown of the u.s. surged forces, and the pace being based on conditions on the ground. it is important to note that the president's reminder in recent days that july 2011 will mark the beginning of a process, not the date when the u.s. heads for the exits and turns out the lights. as he explained this past sunday, we will need to provide assistance to afghanistan for a long time to come

can he assure me that -- surge phase. can you assure me that we will keep in constant communication so that we are working in cooperation with them? >> i congratulate my honorable friend on his election to the committee and i look forward to the work they are going to do. the honorable gentleman is right. together with the americans and with our nato allies is absolutely vital for success. one thing that strikes me when you go and see what our troops are doing is how close that work is. sometimes, people wonder if it is right that british troops are under american command. it is right to point out that all the american troops in kandahar are under british command. our forces were incredibly closely together. -- work incredibly closely together. it is a great sight to see. us if the progress has been made on opium and poppy reduction? is there prison which is secure enough to help -- hold any of the traders should they be arrested? >> there has been progress. honorable lady will know that the province with the rest record

i caa assure you that wasn't my goal. the point i'm trying to make here is that the military commission act of 2009 has been a work in progress for many, manyears. and we're trying, as a nation, to get this right. as solicitor general, do you have confidence in our military commissions that we've set up? do you find that they're a fair forum to try people in? >> senator graham, i really haven't had anexposure to the military commissions as yet. of course,here's been no military commission proceedings. >> have you had exposure to military lawyers? >> i think that they are absolutely top-notch. >> what if i told you that the same lawyers who will be doing the commissions are also the same lawyers, judges and juries that would try our own troops. would that make you feel better? >> well, i do think that the military lawyers with whom i've had the pleasure and honor to work as solicitor general are stunningly good. >> is it fair to say that elena kagan, whatever day it is in 2010, doesn't believe that military commissions are

as we look at entitlement programs, we have to look at entitlement programs in the context of assuring those most in need of entitlement help get it. but that is what i have talked about in terms which are very controversial, and i understand that. some people on my staff do not want to say it. i said it. there you go. i agree with your premise, making sure those most in need affected by entitlements are not adversely affected by any performs or restraints. let me thank third wave for giving me this opportunity. let me thank all of you for being here. much more than that, for covering this issue in this sense that it is a very real, important issue that must be dealt with now. for those of you who are advocates of dealing with this challenge now, whether in the private sector or in academia or in any other forum. thank you all very much. [applause] host [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2010] >> sunday, the canadian prime minister hold a news conference at the g 20 summit in canada. he is the host of the summit. l

i can assure you that this is a very competitive business. we do not have a single market in the united states where we overlap. there is not a single market where the number of competitors is reduced to just one. that is not going to occur. >> there is not an easy business out there. this has to be one of the most difficult in the world. the natural resource problem and the weather problems and so forth. >> thank you, mr. duncan. the chair will now recognize himself for five minutes. as the only member of this committee, we are working to improve the region. since chicago is the transportation hub for the nation, what is good for chicago is good for the nation. i believe that this merger will benefit the chicago region. in addition, it has the potential to be good for the o'hare airport in the o'hare modernization program. it is definitely good for our nation's air traffic. however, there are a number of critical issues that need to be examined. we would see how the impact wouldn't affect service. we have gone through the issue and i am sure

we can assure you thousands of americans who lost their homes, lost their businesses, who lost jobs and tore out on the street because of what wall street did. it is up to us to make it right for the future. thank you. >> the senator from tennessee. >> thank you. i want to thank you and chairman dodd and others for having this conference and i look forward to participating. there is no issue i have enjoyed working on in the three years and five months i've been here than financial reform. i look around and think about what an unusual place washington is. so different from the rest of our country. we began this congress working on health care. to thwi if te-- two of the drivg forces were the cost to individuals and try to lower that a we proceeded to pass a bill that increased the cost of both of those. here we are today. in the middle of an economy that is slow and we're concerned about, we're passing a financial reform bill that is not only going to limit credit but it is going to increase the cost of credit and probably, and most likely, make us non-competitive with the rest of the g-

security, we will ve you assurances, maybe0 years, 2 years, whateveyou want. so that people are secure inside of their borders. at the same time i don't have--. >> that is the fear i think israelis have is that becuse of what hapened in gaza they withdrewnilaterally from gaza. they witraw from the west bank >> they should withdraw unaterally as they did in gaza. we tell them, pleaseet-- do it with us. they say with you, no. after six mont or one year mas took over the authority. now we are talking about an agreement to, anpeople give them all the assurances. we are interte and now we are interested. we are incorping every movement. it is not sacred. some people cuse me that i am working th the israelis. no, we have been cooperating with them. that is to pvent any kind of terror acts or incidents here and we have succeeded. we haveucceeded. we give to pro to them. you ask the american administration, general jones, if you ask the raelis, the israeli side, what is going on in the west bank, some of the exaggerate it but there is security. >> the israeli general

>> such assistance and assurance is very important. that is why we are now consulting with other nations on but the best vehicle for doing so. how much more the european union can do. it is very important that we are able to stop the flow of arms into gaza just as it is so vital to open up gaza to humanitarian aid and more normal economic activity. >> i join my colleagues in condemning the actions that were taken by the israeli government. two of my constituents are currently in detention in israel. i agree with the foreign secretary that an international independent investigation is important notwithstanding, the undersecretary agreed to meet with my constituents who were there because nothing beats hearing it from the horse's' mouth. >> plans are being worked on to meet a group the answer to the question is yes. >> the call for an international, impartial element to an investigation. is it not crucial to ensure that if peace talks resume and turkey's role, which had been an important regional ally to israel, is supported and encourag

gaza and yet the flow genuinen gand a economic trade can take place clearly, assurance needs to take place for that to happen and that is what we're working on now. >> the restrained way in which the foreign secretary dealt with this difficult matter -- may i ask him a very precise question? has it been clear for a very long time that the blockade of gaza is illegal and amounts therefore to cruel and unusual >> but the argument i made is the legality. it does not achieve its objective. it is not the right thing for israel to do. no doubt the government would make a legal argument. that blockade -- they are acting in their own self-defense. this is not serving their own security interests. >> speaker -- mr. speaker. i note the demand for access. can he tell them why he believes in the absence of a blockade of shipping into gaza that people can be protected by the assaults of rockets and other armaments there being imported into gaza? >> that is why i have referred to the international work that needs to take place to give insurance while humanitarian aid and economic aid can take plac

i have offered advice, and i assure the president i will do the same as the conduct assessments over the must be over the months ahead. -- over the months ahead. i specifically agreed with the messages of greater commitment and greater urgency that the president expressed in his address at west point in december, when he announced the new policy. the greater commitment was explained in terms of the additional 30,000 u.s. forces, and the funding for an additional 12000 afghan security -- 100,000 afghan security members. this includes the 2011 responsible drawdown. it would be based on conditions of the ground. it is important to note the president's reminder that the july, 2011, will mark the beginning of a process, not a date when the u.s. heads for the exit and turns out the lights. as he explained, we will need to provide assistance to afghanistan for all long time to come. moreover, as president karzai has recognized, and a number of allied leaders that knowledge, it will be a number of years before afghan security forces can handle the tasks on their own. the commitment to afghan

. >> we have to move on an energy agenda that is forward-looking, that creates jobs, that assures that we are leaders in solar and wind and biodiesel, that recognizes that we are going to be reliant on fossil fuels for many years to come . that we are going to still be using oil and other fossil fuels but that we have to start planning now and putting the infrastructure in place now. >> woodruff: later the president met with business leaders to discuss energy reforms. late today, a government task force estimated the well's total flow may have reached 2.1 million gallons a day before the capping operation began. earlier estimates were substantially lower. there is no estimate yet on the flow since the capping began, but it could be higher still. joining us now are two business executives who met with the president this afternoon. john doerr, a venture capitalist known for his investments in silicon valley and companies like google, amazon and sun microsystems. he's a partner with the firm of kleiner perkins caufield & byers. and chad holliday, former chair and c.e.o. of dupont. he is n

we assured him that we would not only meet those obligations. we'd set aside $20 billion, put assets aside to make sure we can meet those obligations and transition the claims process we've set up to an independent claims producer. i think it was a-- it was a good meeting of the mind. it's what people on the gulf coast need and want to hear. it helps us put-- provide some certainty around what we're putting aside to move forward, and it was a very workman-like meeting that lasted about four and a half hours. >> woodruff: just to be clear about this claims fund, this money is not going to be money that is capped. is that right? >> well, that's right. i mean, we have a well that continues to flow in the dwufl, and we're doing everything we can to shut off the flow of that well, but it would not be realistic to say anything can be capped yet. we have a plan to shut that off by august and contain the flow. but what this does is it provides real ashurps for people along the gulf coast that the money will be there to meet these claims. >> woodruff: an

can he assure me once they have already begun to talk about a drawdown that we keep in constant touch with them to make sure we operate on a consistent timeline? >> can i congratulate my hon. friend on his election, and i look forward to the work they are going to do. you are actually right. making sure we work together with our allies is vital to success. one thing that strikes you when you see what our troops are doing is just how close that work is. some people wonder if it is right that british troops work under american command, and it is right to point out of the american troops in cantar -- kandahar are under british command. >> could the prime minister talked about the progress being made? >> there has been progress. the province with the worst record in terms of opium production has been significantly down. there is a question about how much of that is due to poppy blight and how much is to do with the substitution program the government has been supporting and how much is due to security efforts. i think it is important that as we see a more secure afghanistan, we see more f

the amerin public and we can assure everyone who was watching that, in fact, it can move forward in way. the president's commission which will take a look at all the issues will have a recommendation based on the president's directive within six months. that those recommendations will then be incorporated into how we move forward with outer continental shelf drilling but between now and then, it was our view, it was the president's directive that we press the pae button. it's important for all of you on this committee to know that word. it's the pause button. it's not the stop button but it's the pause button and it's a pause button so that we can make sure that if we move forward with ocs, drilling and the outer continental shelf at it can be done in a way that's protective environment as well. with respect to the shallow waters which i defined essentially at 500-foot level, we have allowed those oil and gas shallow water production efforts and drilling efforts to move forward if, in fact, the operators can certify to us that they can meet the safety requirements. for most good ope

at a recent rare earths conference in beijing leading researcher s assured the audience his country will continue its exports but he also told us.... >> foreign countries should calmly and logically think about this and develop their own mines for their own needs. our resources are diminishing. we need these minerals for our own use. >> reporter: jack lift offer on was there. their message is you guys better start looking out for yourself. >> absolutely. that is exactly their messagement correct. >> reporter: they won't be able to provide anymore. >> as we used to say in the movies look out for number one. that's their message to us because they're looking out for themselves and they are not looking for us. >> reporter: the surprising thing is china wasn't always the main supplier of rare earths. for decades, the largest rare- earth mine in the world operated right here in the california desert. >> it was very high grade. you can tell about the greenish, brownish tint. >> reporter: john has worked at the mountain path mine for 20 years. >> when i first came out, we employed over 300 peop

three vehicles, one was blocking, one was in the back and one had soldiers doing what they do to assure the safety of soldiers. we waited an hour and a completed it. when we were in iraq, meet we met with your staff and they gave us a list. one of the items was ied removal that was going to be inherited by the state department. we asked the inevitable question. the army goes home, do you have anybody that can run and i e d like they do? they said that the iraqis to do it, but they don't. they would have to give a contractor. if we had a list of 14 items and the contractors were ready because they feel -- they fill vacuums and they stood by to fill this vacuum. it was just the initial planning, and we were concerned about the planning of the transition and we are told of there are a lot of coordination. what are you doing realizing that under the current plan, on all of these, putting in time counter battery, if someone blows the horn and we all die because there is an effort as explosive device. who is going to run it? not the iraqis. i am especially interested in seeing if that makes s

how can you give us your assurance when this means nothing? do you have an answer for any of these things? >> i will stand by my statement with respect to their performance. >> do you believe that industry has gathered the experience to lead a minimal environmental footprint? >> with the procedures that have been developed by the industry are followed, this has been the case. >> how can we feel comfortable about this process and that the technology will be followed. this is obviously not what happened here. >> are you asking me? >> i am asking you. >> we did not have the problem. i cannot answer this. >> perhaps he can answer this. >> the tragic accident that happened is going to have a combination of factors that will be part of the decision process and the equipment. the investigations are important to understand how this chronology has worked. i do have confidence that we will understand what happened here. i have strong confidence in this, and i believe that there will be improvements that will be made so the industry will get back to work

i can assure you that my colleagues and i are committed to insuring that we do the right thing. in the entire industry we will learn from this terrible of bent and emerge stronger, smarter, and savor. i would like to introduce to you a technical expert that i have with me today, mr. darrell willis. he is here t assist me in answering questions on claims. >> you mentioned that you put out a certain amount of room out there, i forget the specific amount. sounds to me like that has not been adequate since the oil is getting onto the shorelines of the various states of the gulf coast. one of the previous witnesses said that someone was putting up the wrong kind of boom. did you hear that comment? did you have any comment about that? >> chairman, i did hear that comment. i understand the concern, but i think it is important to recall the description of the area contingency plan putting forthh plans and intentions for the way that we will protect the coast line. contingency plans were developed in cooperation with state, county, and local officials, plans identifying the sensitive are

i can assure you that we conduct a very vigorous human rights dialogue with them. it is done behind closed doors. i can -- i know that is not a very satisfactory answer, but i have found, and i -- maybe these will come out at some point when we do a diplomatic history -- and that, in fact, there have been some successes that we have had when we have tackled the most sensitive and delicate issues of human rights behind closed doors, rather than putting it out in the public domain. i think that is probably going to have to be the way for a while that we operate. -- to be the way, at least for awhile, that we operate, until we get to the point were we have a relationship and we can impact events as we do in the other countries. it will be an evolutionary process. just because you do not hear about what we're doing in public and we are not taking a very aggressive stance in public, it does not mean we are not doing things. we are. it is being done in a way that we judge to be most appropriate and that will lead to some results, given the circumstances that we face. as

i feel more confident in these assurances if i did not realize that each of the oil spill responses and plants from the companies are virtually identical to bp's. you say you would have done things differently. i would think, certainly in retrospect that is the mate - that is the statement you would make. but the record would not support that other companies here today have been more prepared than the bp. their plans oo the same -- their plans weee the same. i thank you for your testimony, but we really have to learn that these things have to be thought out. thh plant should not just be cookie cutter plans. -- plans should not just because the cutter plans. >> the stakes are much higher and the consequences much more dire, but this reminds me a littte bit about a monday morning call-in radio talk show after the redskins have a blown another one. everybody has an idea of what should have been done, but now that they know what was done and what wasn't done properly, they are much smarter than the coach on the field at the time. it is very easy to second-guess and to point out the problems

he fought vigorously to assure worker protections in major trade agreements. while understanding that a reformed health care system will better serve america's work force and our entire country. ron's success is defined a willingness to work with industry and construct bipartisan agreements that achieve results, a strategy i admire and wish we would see more of here in congress. as we emerge from the worst recession, worst economic crisis since the great depression, ron's leadership has been stall wartwart. as americans see thousands of jobs overseas, ron made sure that good-paying jobs stayed here in the united states of america. at a time when workers' rights were in jeopardy, ron never thought to back down or make concessions. that's real leadership. ron, on behalf of the working men and women of my district in western pennsylvania and all organized labor, thank you. you leave a wonderful legacy that's shaped a higher standard for the american worker. i wish you the very best in your days ahead. i'm proud to stand here with mr. dingell to honor you tonight.

gentleman that assurance. working in coverage to bring people together after this appalling tragedy. -- working in cumbria to bring people together after this appalling trageey. they have a very compassionate and caring and strong community. they have shown that in the wake of these terribbe events. we will need after question time to discuss what shall be done nexx. i think that is important. it is important to recognize that this is a part of the country that can sometimes feel quite cut off. with respect to the amazing work made by the hospital, it really prove itself, facing the most appalling tragedy and a terrible difficulties of so many people with such awful injuries and coming to that hospital at once. sometimes people are inclined to say that that hospitaa was too small to handle these things. it was big enough. big is not always beautiful. >> does the prime minister agree that it is wrong to ask one authority to show what it is a national responsibility? >> i am happy to look at this. this has been

i feel more confident in these assurances if i didn't realize that each of the oil spill responses plans from the companies are virtually identical to b.p.'s. so you would have done things differently, i would think certainly in retroexpect that's a statement you would certainly back. i hope that's true. but the record does not support other countries here and today have been more prepared than b.p. and their plans weee the same. i think you for -- i thank you for your experience and we have to learn from that experience and move on. we really haae to learn these things have to be thought out, that the plans should not just be cookie cutter plans. thank you, mr. chairman. >> the chair recognizes the ranks member of the full committee, the gentleman from texas, mr. barton . >> the stakes are higher and the consequences more dire but reminds me a built of monday morning call-in radio talk show after the redskins have blown another one. everybody has an idea what should have been done and now that they know what was done and it wasn't done properly, they're much smarter than the coach on th