>>neil: cushing, oklahoma, was the theme.llowed the white house fax sheet referring to this as the "cushing, oklahoma, pipeline." will that do anything by changing the name? >>guest: like the wizard of oz pay in attention to the man behind the curtain. face it, he -- forget keystone. it doesn't exist. i was against keystone but i am for cushing. >>neil: i am thinking of cases where after a herrible crash, they become a new airline with a new maim and we are supposed to forget the accident or what accompanied the demise. >>guest: he does this and he gets appear with it. face it, he is saying there is plenty of drilling and we are drilling more than enough. drilling is down on federal lands and india lands and he gets away with it because the people would vote for him want to believe it but now he is nervous so he changes. he is just a great campaigner. >>neil: so they are taxes, maybe "revenue," is a nicer word. >>guest: his greatest enemy is youtube. because people are going to see what he said before, they will actually ...

oil in one particular spot in cushing, oklahoma. we know there's been a renaissance not only in canada but in the united states just recently, in fact. since 1973 until 2008, our production moved down from 9.6 million barrels a day to about 5 million barrels a day. and we've already increased that in the last three years up to nearly 6 million barrels a day. that's just the beginning. our country alone grew last year by 64% and just starting in the main portion of our fields, which will be in kansas and oklahoma. >> so, then, tom explain -- you do mention these are the refineries near the shipping channels. explain why this pipeline should help lower the price of oil and gas in the united states and we're not just a middle man for what ed markey called dirty canadian oil. >> well, it's -- actually, i think of canadian oil as fantastic because it's produced in north america. and what it allows us to do is to produce north american oil and not be importing it from overseas. so even if it didn't change the price of gasoline at the pump

so today i've come to cushing, an oil town.ecause producing more oil and gas here at home has been, and will continue to be, a critical part of an all of the above energy strategy. now, under my administration, america is producing more oil today than at any time in the last eight years. that's important to note. over the last three years, i've directed my administration to open up millions of acres for gas and oil exploration across 23 different states. we're opening up more than 75% of our potential oil resources offshore. we've quadrupled the number of operating rigs to a record high. we've added enough new oil and gas pipeline to encircle the earth and then some. so we are drilling all over the place. right now. that's not the challenge. that's not the problem. the problem in a place like cushing is that we're actually producing so much oil and gas in places like north dakota and colorado that we don't have enough pipeline capacity to transport all of it to where it needs to go, both to refineries and eventually all across

so today, i have come to cushing. an oil town. [ cheers and applause ] >> because producing more oil and gas at home has been and will continue to be a critical part of an all of the above energy strategy. now under my administration, america is produticing more oil today than any time in the last eight years. that's important to know. over the last three years, i have directed my administration to open up millions of acres for gas and oil exploration across 23 different states. we're opening up more than 75% of our potential oil resources offsho offshore. we have added enough new oil pipeline to encircle the earth and then some. so we are drilling off over the place, right now. that's not the challenge, that's not the problem, in fact the problem in a place like cushing that -- that we don't have enough pipeline capacity to where it needs to go there's a bottle next right here because we can't get enough of the oil to our refineries fast enough. and if we could, we would be able to increase our oil supplies at a time

today, cushing is the oil pipeline crossroads of america.ine that they were talking about building, all of these pipelines come into cushing and if you buy, you don't need trade oil, trading for $107 a barrel now, if you actually took delivery of that oil, most people trade it need it cushing is the place you actually get it. there are tank store am farms all over the place. the place is booming because there's more oil being produced in america right now. a lot of that oil coming in from canada, comes into cushing, this place is doing very well. people here are steamed about the decision by the obama administration not to go ahead with the building of that pipeline. generally, they feel it is going to get built. they feel there should be more oil produced in the united states because the more that gets drilled in the united states, mortgage that comes through to cushing. today, cushing doesn't produce as much oil obviously as it used to. we know other areas in the country do but this is where it all comes through. about three times the dail

taking a pulse of the markets we are watching oil reacting to the president's speech in cushing, oklahoma, about half an hour ago. growth concerns are pushing metals lower. look at silver right now. it's down 3% today. and a bit of a flight to safety pushing bond prices up and the yield on the 10-year note ticking slightly lower. our midday movers of course we're watching fed ex because earlier today it reported strong earnings, but it's getting hit on warnings of tepid growth. right now fed ex down 4.25%. and the energy space getting hit too. oil and coal under pressure. alpha natural resources down 4.25%. and price line edging higher following piper jaffry's call. not quite there yet. it's up $6.07 at $709.75. now to the trading floors. bob pisani joins us from the nyse. bob. >> hello, mary. good to see you. i want to pick up on the comment on energy mary was talking about. the energy complex has been under a lot of pressure in the last couple days and that's because of concerns about growth in china. the biggest variable in global oil demand is china. they consume about a quarter of al

he will support runs from cushing oklahoma down the gulf coast so why did the president reverse course here and give in to most of the demands of big oil and what are the political consequences of such a decision here to offer his take on this is karl frisch syndicated columnist and parker who thought strategies karl welcome back thanks for every background great to have you here so what happens today. president gave a speech you know i wasn't surprised as many people were i mean when the president came out and said that he wasn't going to allow the full pipeline to be though he did say that he supported the southern part of the pipeline to be built that being said i think is a lot of different dynamics here i think what it shows because this is really a compromise with the right what it shows is that the right is more interested in investing in a canadian company then it is investing in our own roads our own bridges our own schools and crumbling infrastructure instead of talking about moving people fast in the country great high speed rail we're talking about moving oil fast canadian

the president was in cushing to push the southern half of the keystone pipeline.is part of his strategy that includes renewables and drilling. we heard about the purpose of the keystone pipeline for months delivering energy resources from alberta's tar sands all the way to the gulf. other words bringing crude oil to the refineries so it can be made into gasoline. where is it oklahoma was worth a visit from the president. it sits in the middle of the continental u.s.'s oil production. those red areas are where drilling and oil is. there's a major storage depot at the intersection of these pipelines. and this area is where our oil is, but it also sits, cushing does 485 miles away from the texas gulf refineries, so once this section of the pipeline is completed, that section is supposed to bring about 830,000 barrels of oil to refineries every day. but there's no question that the keystone pipeline is all about politics in this election year. take a listen. >> the problem in a place like cushing is that we're actually producing so much oil and gas in place like north

in order to take cushing oil south.nd 150,000 barrels a day of capacity on stream by mid-year and by the end of the year, over 450,000 barrels a day at capacity to help clear that glut in cushing. project's going very well. >> will that do it? or is it about 1.5 million to shift? >> well, you know, it's a very good point. i think it will take more than that. and as a matter of fact, we have an open season out right now in order to probably twin that seaway pipeline. that open season closes on the 2nd of march, and we're most likely to build a twin to it going south because there is demand for a lot more than that volume. >> brent's probably correctly priced and west texas is underpriced because your pipeline's not working yet, right? >> that's right. that's exactly right. brent is effectively world price and wti has been selling at a significant discount, which means everything upstream of that, the bakken crude, the canadian production, is all selling at a dramatic discount to world pricing, and we need to be able to f

the politics of oil in cushing, oklahoma, today, president obama made this announcement. >> right nowscanada has applied to build a new pipeline to speed more oil from cushing to state-of-the-art refineries down on the gulf coast. today i'm directing my administration to cut through the red tape, break through the bureaucratic hurdles and make this project a priority. >> the pipeline he's talking about is actually part of the controversial keystone pipeline that transcanada and many republicans and some democrats in congress want to build from canada to the gulf coast. now, in january the obama administration denied a permit for the full pipeline. last month transcanada said it would move forward and build the southern half which would begin in cushing. today as part of a two-day, four-state energy tour president obama promised to do his part to fast track the work. right away republicans pounced. >> today the president announced he was going to open a path of the keystone pipeline. that's right. this is a pipeline to nowhere, that's a good one. so obama is matching santorum's bridge

jenna: that is the president speaking in cushing, oklahoma. cushing, oklahoma, pardon me.of the above. he is talking about using oil and biofuels and whole host of other alternative energy sources to help fuel the nation. if you would like to watch more of the president you can do so at foxnews.com. jon: right now it is not just a high-stakes race for the presidency. there are plenty of other major contests that could affect the balance of power and the way things happen in washington next year especially in the united states senate. here's a look at the current balance of power in that chamber. democrats right now hold a slight majority but not enough to break a filibuster that takes 60 votes. come november, a third of the senate seats will be up for grabs. looking no his crystal ball says our next guest says eight of the races are likely to have the biggest impact. larry sabato, director for the center of politics at the university of virginia. larry, you have looked at the races you think are most likely to be very tight and maybe even change hands, change the way the s

he's been very supportive of the keystone pipeline that will take it from cushing to texas.lready we've seen supplies decline in the last week and that was the first decline in four weeks in that area. that is a trade that is followed very closely. back to you. >> thanks so much, sharon. >>> gasoline prices, meanwhile, averaging $3.87 on average at the pump. it's a story that has captured the attention of many americans. they are wondering if it will spike higher as we approach the heavy driving season. gentlemen, good to see you. >> i think prices can go into the 130s this summer. 130 brent. i think gasoline prices will follow suit. yes. >> so where do you think the top is? are there any catalysts on the horizon that you think changed this situation or are you just expecting the driving season to really accelerate things here? >> i think it's more like global demand. i'm not for sure it's going to be u.s. gasoline demand. but the floeb balance emerging market, in particular, demand growth, is phenomenal. >> and we're seeing more drilling in the united states. that hasn't tr

. >>> just moments ago we told you that president obama got to cushing, oklahoma kicking off day twotate energy tour. he's pushing to get an oil pipeline and he's going to be speaking to people building that pipeline just about 20 minutes from now. mike vi mike viquera is in cushing, oklahoma. >> there is about 40 miles of that pipeline and the president's going to be talking about that. the president, chris, is really trying to accentuate the positive news of energy production in this country. domestic oil production up in this country, the market share for domestic oil, lessening dependence on foreign oil, up in this country, unfortunately for the president, the price of gas also up in this country. $3.86 a gallon is bad news for the country, bad political news for the president. the president very seldom comes to states like this. there's no way he's going to win this come november. but he's here to talk about that controversial pipeline, the keystone pipeline, it was supposed to run from alberta, canada, all the way down to the gulf of mexico. but there is a glut here in cushing,

cnn wrote a piece about cushing, oklahoma. right at the convergence of our pipelines. it's about 30 miles west of my hometown. it said, quote, the place is booming. there's a shortage of workers around. i mean, we know nationally there's actually a shortage of engineers and oil workers and skilled and unskilled labor. petroleum engineers graduating from school can earn upwards of $90,000. what is oklahoma's secret? we're developing our own resources. oklahoma has over 83,000 producing wells and 43,000 producing natural gas wells. oklahoma city university found in 2009 that oklahoma oil and gas industry supports 30,000 -- 300,000 jobs. contributes to the state's economy every year. the unemployment rate is cons t consistently much lower than the national average. their biggest problem up there is finding workers. and it happens. herald ham who has been a witness twice before this committee from enid, oklahoma is up there right now in those shale deposits. there is no unemployment in that area. and so this is significant. now i really think with the president's campaign

right here because we can't get enough of the oil to our refineries fast enough. >> reporter: the cushingipeline is the third leg of a larger keystone excel project, designed to run from canada. >> this whole issue of the keystone pipeline has obviously generated a lot of controversy and a lot of politics. >> reporter: earlier this year, the president rejected the northern portion. >> here he is, standing in cushing, oklahoma. he could put one foot on one side and say this part of the pipeline could go and put one foot on the are the side and say that part can't. >> reporter: some americans are already paying over $4 for a gallon of gas. republican white house hopefuls are telling americans that president obama is to blame. >> the president refuses to open up land for gas and oil exploration. particularly oil. >> the president says that this will not change the gas prices overnight. >> the main reason why gas pump prices are so high now is people are worried over iran. >> reporter: at the white house, tara mergener, wjz eyewitness news. >> and wjz 13 is always on. check in for complete co

then a judgment will be reached on the facts just as a judgment will be reached on this segment from cushing down to the gulf. >> thank you, mr. chairman. >> senator shaheen. >> thank you, mr. chairman. mr. secretary, deputy secretary hayes and miss hayes. we're pleased that you're here today. mr. secretary, you talked about your new role to help develop a tourism strategy for the country and the importance of protecting our outdoors and our beautiful environment and special places as being critical to that tourism strategy. and as you know, the land and water conservation fund has been one of the federal programs that has been most successful at protecting our special places and wildlife habitats and public recreation. in new hampshire we've got all kinds of examples from the lwcf. our umbaga national refuge have all been protected through the land and water conservation fund. i was pleased to see additional funding in the proposed budget for that program answered know that you said you're committed to getting full funding for lwcf by 2014. i wonder if you could talk about your plans for ho

ultimately those sources meet in cushing, oklahoma in my state. some of that will be going towards houston towards port arthur, texas, but it will be used in texas. host: you're on with the senator. caller: yes. it seems like no one believes in global warming now, so senator, why did you write the book? guest: i didn't hear. host: people don't believe in global warming anymore, so why did you of 34% of them. but it was 78% just a few years ago, so people have kind of caught on and realized that it's not -- you know, it's not what it was before. but the reason the book is necessary is that if obama is defeated, it's not going to go away. you've got money behind this. you've got move on.org and the hollywood elite. so the book goes into the future. it's not going to stop because people think it's no longer -- host: because those people believe the science? guest: who? i know this people you just suggested. guest: well, all right. you get into the issue of the liberals and the conserves. i was asked the other night fighter i said, you know, they like

it's the part from cushing, oklahoma, so people will have to truck or train the gas down to cushing and will go in a pipeline down to the coast. >> the president will be sitting there and talking about a pipeline. this is, what's the word, splitting the baby? >> the baby. >> splitting hairs? >> i'm pretty sure i screwed that up, that analogy. the baby with the bath water. >> throw out the baby with the bath water. >> splitting the bath water. >> it's something to do with an infant. essentially what you're saying is -- >> your head is looking much more emerald like as you go on. >> he's saying a lot of people in my own party and people around the country want me to build this pipeline. i've committed to not building this pipeline. you can't blame the republicans anymore for rushing it. so he decides to go there and show up and say look, we're building a pipeline but actually had nothing to do with it. >> i'll tell you something the president has had a lot to do with and that's to try to instill in us the notion that america is not a fair place. here's the president. >> settle for a count

and the town of cushing, oklahoma.it to the keystone pipeline, he'll announce he's fast tracking part of that controversial pipeline. we'll take his speech live at 10:55 eastern.t hat about your w? neutrogena® rapid wrinkle repair. its retinol formula visibly reduces wrinkles in one week. why wait if you don't have to. neutrogena®. water, we take our showers with it. we make our coffee with it. but we rarely tap its true potential and just let it be itself. flowing freely into clean lakes, clear streams and along more fresh water coast line than any other state in the country. come realize water's true potential. dive in-to the waters of pure michigan. your trip begins at michigan.org. a living, breathing intelligence teaching data how to do more for business. [ beeping ] in here, data knows what to do. because the network finds it and tailors it across all the right points, automating all the right actions... [ beeping ] ...to bring all the right results. it's the at&t network -- doing more with data to help business

part of the much debated keystone pipeline from cushing to the gulf southward.ment he gave republicans in congress a jab for making the pipeline a political issue. let's listen. >> our exports said that we needed a certain amount of time to review the project. unfortunately, congress decided they wanted their own time line. today we're making this new pipeline from cushing to the gulf a priority, so the southern leg of it we're making a priority and going to go ahead and get that done. the northern portion of it, we're going to have to review properly to make sure that the health and safety of the american people are protected. >> at nearly the same time the president was speaking in oklahoma house speaker john boehner was in washington, d.c., minimizing the project's move. >> the president's down here in oklahoma taking credit is down n oklahoma taking credit for part of a pipeline that's going to go through the normal process. it already got it's approvals. and this idea that the president will expedite this will have to impact. >> there you go, the politics c

he is going it cushing oak.rsy about the keystone pipeline, they said they needed to start the environmental impact further. that was through a sensitive area known as sand hills of nebraska. well, the president says he want it build it from oklahoma. there's a bottle neck there in cushing, down to the gulf of mexico. announcing the steps it alleviate the permitting process for pipe lines like that when they are calling it the cushing pipeline and other pipelines around the country. this is a white house trying to get out ahead of gas prices, richard pz. >> all right, mike vicara. among a bunch of photo volteic -- >> yeah. >> you got it, i can't quite pronounce it myself. >>> matt miller is in dylan ratigan. i don't imagine you are

and today, we're making this new pipeline from cushing to the gulf a priority. so the southern leg of it we're making a priority, and we're going to go ahead and get that done. the northern portion of it we're going to have to review properly to make sure that the health and safety of the american people are protected. that's common sense. but the fact is that my administration has approved dozens of new oil and gas pipelines over the last three years, including one from canada. and as long as i'm president, we're going to keep on encouraging oil development and infrastructure and we're going to do it in a way that protects the health and safety of the american people. we don't have to choose between one or the other, we can do both. [applause] so if you guys are talking to your friends, your neighbors, your coworkers, your aunts or uncles and they're wondering what's going on in terms of oil production, you just tell them anybody who suggests that somehow we're suppressing domestic oil production isn't paying attention. they are not paying attention. what you a

today we're making this new pipeline from cushing to the gulf.ther portion we'll have to review to make sure the health and safety of the american people are protected. >> at the same time, house speaker john boehner was in washington dc minimizing the president's move. >> the president is down here in oklahoma taking credit for part of the pipeline that's going to go through the normal process. it already got it's approvals. and this idea that the president is going to expedite this will have no impact. >>> the white house has been feeling a bit defensive on this subject of rising gas prices. today, president obama wrapped up a two-day four state tour defending his energy policies. his first stop today, curbing, oklahoma, where he announced he's fast tracking the southern part of the much debated keystone pipeline from the gulf southward and he gave the republicans a jab for making the pipeline a political issue. >> our exports said we needed a certain amount of time to review the project. unfortunately, congress decided they wanted their own ti

thursday, he appeared in cushing, oklahoma to announce his support for transcanada to build the southern leg of its keystone oil pipeline from oklahoma to texas. the move comes two months after obama rejected the canada to texas keystone xl pipeline after large protests by environmental groups. there's a bottlenecked right here because we cannot get enough of the oil to our refineries fast enough. if we could, then we would be able to increase our oil supplies at a time when they are needed as much as possible. right now a company called transcanada has applied to build a new pipeline to speed more oil from cushing to state of the refineries in the gulf coast. today i'm directing my administration to cut through the red tape, a brick through the bureaucratic hurdles, and make this project a priority to go ahead and get it done. >> president obama boasted his administration has authorized enough gas pipelines to encircle the earth. >> under my administration, america is producing more oil today than at any time in the last eight years. [applause] that is important to note. over the last t

. >> reporter: the cashing -- cushing two is part of a larger project designed to run from canada. >>oject has obviously generated a lot of policies and politics. >> here he is standing in cushing, oklahoma. he could put one foot on one side and say this part of the pipeline could go. and put one foot on the other side. that part can't. >> reporter: this election year, some americans are already paying more than $4 for a gallon of gas. the republican white house hopefuls are telling voters, president obama is to blame. >> the president refuses to open up lands for oil and gas exploration, particularly oil exploration. >> reporter: the president says the u.s. is drilling more. and that more production won't change prices at the pump overnight. >> the main reason the gas prices are high right now is because people are worried about what is happening with iran. >> reporter: on this trip, president obama made three other stops in battleground states to defend his energy policies. >> reporter: at the white house, tara mergener, wjz eyewitness news. >> in tonight's wjz pump watch report, a

there is a sort of bottle neck of oil in oklahoma and this part of the pipeline from cushing down to the refineries will help but the whole point of the keystone xcel pipeline had been to bring the 700,000 and 800,000-barrels of oil a day down from the canadian oil fields. that is not happening. >> greta: could the president have stopped this part? or is this something he could have prevented the southern part? >> presidential approval is required for the international part of the pipeline. for a domestic thing it is not a presidential decision. the arm army corps of engineers and other agencies approve it but it is not at the presidential level. >> greta: if the president doesn't have to approve of the central or the southern pipeline and the president is now claiming that he is responsible does he not know that we have videotape, we have youtube, we have all that sort of thing? this is something that will make him look very bad if he is out there bragging about it and he has zero credit. >> and we with figure that one out. listen specifically to what he said today. he said i am ord

used to build a 485-mile southern portion of the pipeline, transporting 700,000 barrels a day in cushing, oklahoma, to the gulf of mexico. here's something to keep in mind. this part of the pipeline never required presidential approval. only the pipeline's northern leg required presidential action. house speaker john boehner today. >> the president can take credit for having nothing to do with the bottom half of the pipeline. the fact is, is there's only one permit that requires his approval because it crosses our national boundaries. >> reporter: but the truth is, the pipeline's northern route was blocked after republican governor of nebraska, dave heinemann, asked the president to reject it because of environmental concerns. that the pipeline's oil could threaten drinking water for 2 million americans provided by a nebraska aquafirm. >> the northern portion we have to review properly to make sure the health and safety of the american people are protected. that's common sense. >> reporter: that northern part of the pipeline won't be approved until the company resubmits to the federal go