harold hamm. there's harold right there. looks like a regular guy. looks like he is a regular american. middle of the country kind of guy. he is, he's from oklahoma. doing a lot of work in the dakotas and montana right now. you might not know who harold hamm is because he's not a media figure, and he's not in the news all the time. but i can guarantee you, mitt romney is tell you exact lee who harold hamm is. >> met a guy named harold hamm. harold hamm is a truck driver for ten years. saves his money driving trucks, to get a college degree. goes back to college. gets a college degree. takes geology as a subject. happened to lose across the country and i said i bet there's energy, oil, and gas in the hills of north dakota. he went up there and started drilling holes. now it's estimated in this range, there are about 20 billion barrels of oil. harold is doing just fine, by the way. >> oh, yeah, harold hamm is doing quite well for himself. mitt romney makes it sound like harold hamm was some random truck driver who he bumped into on the campaign trail.

doctor harold hamm. we will call you doctor for now. >> thank you. >> thank you chairman baucus, thank you member hatch and determines of the committee. it is an honor for me to be here today. i will be speaking on my own behalf. i am not here on the path of the romney campaign for which i serve as an energy adviser. it has been 20 years since i was here before this committee and spoke to the cochair of the committee at that time that are mostly unknown and unconventional at the time, one of them was horizontal drilling come and the other was the aspect of drilling into the shale, that would produce the best amount of natural gas. and talking about a temporary trigger, textured or to advance fat theory. to advance that theory. over the last 20 years, technologies were developed and thank god we have come a long ways since then. 75% of a leicester's production focused on oil. it started in montana, and that is where we started in senator conrad state and north dakota. we were one of the resident players o

harold hamm, chairman of continental resources and he served since his inception since 1967. thank you all for coming very much and we all know our practice, i assume you do. certainly you do, don. five, six minute, everybody, and utilizing all of your statements will be in the record. let her rip. i tell all witnesses, pull no punches and tell it like it is. life's short, you can't take it with you. go for it. >> mr. chairman, thank you. it's important for me to be on the panel and join my colleagues on the panel especially harold hamm who has built a heck of a company in oklahoma continental resources and doing much in oklahoma and montana and also in oklahoma and they've added hundreds and hundreds of jobs and valuable resources to this country and it's a pleasure to join him as well. mr. chairman, you mentioned about tax reform and doing it right. i remember being in this body and particularly this committee and in my 24 years in the senate i love this committee. this committee and those that got on it and it takes a long time to get on the committee, but it's a great com

finally, harold hamm, a position he's served in since its inception in 1967. thank you all for coming very much and y'all know our practice, i assume you do, certainly you do, don. so speak for five or six minutes. go ahead, don. glad to have you here. and let 'er rip. life's short. pull no punches. >> mr. chairman, thank you. it's a pleasure to be on the panel and join my colleagues on the panel, especially harold hamm, who has built one heck of a company, doing so much in oklahoma, and they've added hundreds and hundreds of jobs and a lot of valuable resources to this country. so it's a pleasure to join him as well. mr. chairman, you mentioned talking about tax reform and doing it right, i remember being in this body and particularly this committee, and in my 24 years in the senate, i love this committee. this committee and those that got on it. and it takes a long time to get on the committee, but it's a great committee. and you're doing really great work. and especially if the senate works, and so i'm a big advocate for regular order, and marking up. and t

harold hamm. chairman of continental resources, a position he served in since its inception in 1967. thank you all for coming very much and you all know our practice, i assume you do. certainly you do, don. speak for about five, six minutes, everyone utilizing and all of your statements will be inserted in the record. go ahead, don. glad to have you here. let her rip. i tell all witnesses, pull no punches and tell it like it is. life's short, you can't take it with you. go for it. >> mr. chairman, thank you. it's a pleasure for me to be on the panel and join my colleagues on the panel, especially harold hamm, who has built one heck of a company in oklahoma, continental resources, and doing so much in north dakota and montana but also in oklahoma and they've added hundreds and hundreds of jobs and a lot of valuable resources to this country, so it's a pleasure to join him as well. mr. chairman, you mentioned talking about tax reform and doing it right. i remember being in this body and particularly

i believe harold hamm or somebody or maybe congressman sharp mentioned the fact that natural gas is selling for the equivalent of about $12 to $20 per barrel, as or $2 per mcf or 2.50 per mcf, compared to europe which is five times as much, six times as much, eight times as much and we have a competitive advantage for your industries now, natural gas being much, much cheaper. i know a lot of the homes in maine and northeast are on fuel oils, not natural gas, but my guess is conversions will take place and there will be a significant savings that homeowners will enjoy for decades. >> yeah. we have very limited in maine, and it costs -- it run the pipeline about $1 million a mile, so, i mean, we have to have incentives in that regard. there are some areas in which they are making decisions to do it, but obviously it's not pervasive. i mean, we're the most dependant state in the country on home heating oil. >> i kind of remember that. i remember your many, many efforts for low-income energy assistance over the years and wrestling with you on some of those issues on the budget committee and so

on the table, but if -- if you don't allow industries to expense their out-of-pocket expenses as harold hamm said, you're going to have some real negative consequences. you won't have $2 gas. i don't think this committee or congress wants to do something that's going to have an adverse economic impact. this happens to be the shale gas revolution as well as the oil revolution is one of the best things that's happened in this country economically in years. congress doesn't want to mess it up. but i think you ought to look at every credit because that is -- any credit is by nature, it's congress saying we think that this is even more valuable than the dollar you spend. you spend $1 and we're going to reduce your taxes by a dollar, so i'm all in favor of putting a lot of credits and deductions and tax-exempts. we've go the a lot of tax-exempts that aren't taxed. tax everything once. you broaden the scope a bunch by doing so. >> mr. hamm? >> i agree. we capitalize, all the hardware out there, we capitalize that. we do write off the wages. in regard to drilling and, you know, the deductibles in th

i believe harold hamm or make congressman sharp mentioned the fact that natural gas is selling for the equivalent of about $12 to $20 per barrel or $2 per mcf, or 2 per mcf compared to europe which is five times as much, six times as much, eight times as much. so we have advantages now. natural gas will be much, much cheaper. i know a lot of your homes in the northeast and maine are on fuel oil, and my prediction is there will be a significant savings that homeowners will enjoy for decades. >> question have great limiteded in maine it will cost to run the pipelines about $1 million a mile. we to have incentives. there are mare be plans to do it, but obviously, it's not pervasive. >> i remember your many, many efforts for low-income energy assistance over the years. and wrestling with you on some of those issues on the budget committee and so on. i compliment you for your effort and your for representation. i do think, though, the network expansion through the distribution lines is increasing the pipes throughout the connection so more and more people can take advantage of this very abu

like oil man harold hamm, he's donated nearly a million dollars already. would you believe it?ons in tax breaks for the oil industry. then there's new balance ceo jim davis. he's also pitched in a million. his company is looking for a sneaker contract with the pentagon. just goes to show big money comes at a price. joining me now is congressman keith ellison, democrat from minnesota. he's pushing an amendment to get corporate money out of politics. congressman ellison, first thanks for being here tonight. >> thank you. >> now, billionaires are pumping a lot of money into this election. it seems like they're looking for a return in the investment. how dangerous is this? >> this is absolutely fatal to democracy itself. as a matter of fact, they can just purchase an election and get people who will do whar they want, what it mean is our water will be unsafe to drink. it'll mean our carbon will be released into our atmospheres. more oil spills. one of the things these oil guys hate is regulation. it'll just mean a poorer world for all the rest of us. it really is dangerous to our d

medicaid name harold hamm. a truck driver for 10 years. saved his money driving tracks to get an education. get the college degree in geology. he has been to look at maps of the united states, concludes there must be some energy in the mountains of north dakota. canseco is that there is towards drilling for oil. first well, nothing. second well, nothing. sixteenth street dry holes, gets nothing. i'm told a dry hole costs $5 million you can imagine mike got investors to get that money. in the 17th pick up the return because they got the black hole known as oil. it's now estimated there are about 20 billion barrels of oil. harold is doing just fine by the way. american entrepreneurship, innovation, freedom. freedom and free enterprise drives our economy and i'm going to bring it back. [cheers and applause]. [cheers and applause] this is how the founders saw it, you know. that's how the founders and vision america. they didn't want to have a country dominated by, driven by, guided by a government. instead they want a country driven by free pe