let me just ask you. e minister harper was over in china there was a memorandum of understanding. i actually read it. your consul general in new york city was kind enough to give it to me a couple of weeks ago. if you're still going to build north-south, can you build east-west at the same time? i'm asking you and your company transcanada. does one rule out the other, or can both fly at the same time? >> the oil sands is going to grow by probably 2 to 3 million barrels a day over the coming decade or two. as well we've seen significant growth in the williston basin both in montana and north dakota. that growth and production is going to require a pipeline to the west coast as well as a pipeline south, and potentially even a pipeline east there is sufficient new growth volumes to fill a number of new pipelines. >> and sufficient export markets, is that correct? >> pardon me? >> i was just kidding, but i was saying sufficient export markets to sell that, what goes through the pipeline. in other words, i'm as

. >> let me ask you one last request. i come from an energy state, oil and gals. you alluded to a couple issues that the activities in the middle east could have impact to the produce of fuel energy here. obviously i'm a big believer that we need more of those. can you give me any additional comment on that? >> well, first, as we saw it a modest way early last year it creates inflation, and also because it acts like a tax on consumers. a major disruption that set oil prices up substantially could stop the recovery. that being said, one of the more encouraging things over the last few years is with new processes and approaches that if u.s. is become a more prolific producer of fossil fuels and is also making progress on nonfossil forms of energy. i think there's a chance we can move in the right direction in terms of reducing our exposure to foreign disruptions. >> thank you very much. alaska wants to be part of that equation. thank you very much. >> thank you. wyoming wants to be part of that also. i want to thank the the chairman for all the information you give

drew, let me ask you something.en, i think, a champion over the past week for saying over and over again that the adults around whitney houston who knew she was at a party, who knew she was drinking were fooling themselves if they said oh, she's okay. knowing the problems that she had leading up to her death. in that environment, what are your thoughts for an 18-year-old who is in that same environment? >> well, we have two issues here. one is an individual, whitney houston, who had chronic, recurrent, recalcitrant addiction, who was treated and failed multiple times, who continued to drink and use, and people around her co-signing that, saying oh, isn't it wonderful she's out socializing, toasting with champagne, as opposed to saying, my goodness, we have a very serious problem here with whitney. she is in harm's way, she's still drinking, she cannot maintain abstinence, we've got to get her out of the limelight, away from work and into treatment. that is one issue. the other issue is poor bobbi kristina. people ar

let me ask you to -- let me ask one of them to respond. >> the last speaker in particular who says there's a need, and the third speaker. there's a need for good early life history of nixon. thank you very much. >> thank you. >> excuse the wordiness. >> thank you. which one of you would like to respond? >> first of all, frank gannon has his interviews nine days long, very profitable on a university of georgia website. and it's where i learned when nixon met lbj. it's the only document that shows the early relationship between lbj and richard nixon. second, dr. arena, i hate you. i really do. you did 335 of these oral histories. and i'm almost two-thirds through them. and i got to tell you, it's long. and the other person that i should comment on who's no longer with us is harry jeffrey who did a marvelous series of about 212 interviews. but the one question that you had is when will an early life be done. and the problem of an early life of richard nixon has nothing to do with the fascination. it has to do with the state of publishing in the united states today. and it's very, very hard to

let me ask a very quick final question for dr. gruenspecht since you mentioned heating oil in the northeast. i'm very concerned about pad one, as you pointed out. you talked about the refineries that are down on the east coast. can you talk about the correlation between that, if there is any, and what we're seeing in increased costs for home heating oil in the northeast. >> thank you. i don't think there's really much correlation. i describe the broader picture of gasoline and distillate and, you know, as senator brasso pointed out, distillate prices in wyoming are very high. i don't think this refinery issue this winter so far has been much of the issue. i would point out that in our -- we do a winter fuels outlook at the beginning of each winter. i think in october. and we did flag the, you know, the heating bills as being for oil users as being pretty significant. this upcoming winter -- >> right. >> -- and, you know, we've gotten a little bit of a break on the weather, and that's helped everybody, i think. it's come down a lit

. >> let me ask you about this situation sort of feeding on itself. do you think that 13,000 which we are at, does that bring retail investors back into the market? does this feed on itself? >> a little bit. whenever you cross a thousand there is a little news generated. we have passed 13,000 before. we have even passed 14,000 actually. in a few points after 13,000 we will be double the low level that we hit in march, 2009. we are going to get the informationitu out to the publi. we have a different market than the lest couple of years. we have had more stability in the market, better dividends in the market. the major reason, maria is that i am bullish is not so much on historical patterns as important as they may be. why i'm bullish is because of the earnings and dividends that american companies are giving to their investors now and in relation to the extraordinary low interest rates which we are all distressed about but it looks like tla in the cards for quite some time to lead for a very favorable valuation of the stock market. >> you know how pe

let me ask about, on the health insurance exchange, senator baucus asked you about that, but one concern i had is that in our zeal to be sure that states can do whatever they want, by way of establishing these health insurance exchanges or do it the way they want, i should say, i'm concerned that the underlaying i.t. systems that are being developed, state by state by state are not going to be able to communicate with each other, are not going to be -- they will not have the common elements that they need to really have good information for us nationally on what's going on here. i know our state is spending a big chunk of the money that you've provided in the planning grant, to work on an i.t. system. i know every state in the country is spending a big chunk of the money that's being provided to them, working on the i.t. system. is there something that you are doing to ensure that we don't just have everyone inventing the wheel in every state in the union here? >> yes, senator, i think your concern is well placed and well founded. we did, early on, release some early innovator grants, sp

melissa, let me ask you this then. the tone has been so personal. the attacks on him are not policy driven but personal. look at some of these comments. >> the president seems to have forgotten he wasçó elected to ld all americans. he was elected to be president of the united states, not the occupy wall street fan club. >> the president of the united states looks like he's a really good father. looks like he's a really good husband. but he is a terrible president. >> i mean, that's kind of a real personal tone. all of this happened today. he looks like he's a good father. we have a little doubt there and suggesting maybe i'm overly sensitive to rubio, but i mean, melissa, don't you pick up a very personal tone in all of this? >> well, i do. certainly it's been the personal tone they've had since january 20th, 2009. this idea of attacking president obama as a person. you know, often just sort of leveling these critiques that don't make sense. socialist or radical, frightening muslim. all of these things that are really just name calling. and typicall

>> let me ask you -- let me ask you here a question. did obama-care encourage businesses to hire more people? >> no! >> did dodd frank get banks to renegotiate more loans? did the national labor relation as take on boeing south carolina encourage employers to expand here? did efforts to block domestic production of energy and keystone pipeline speed job creation? >> no! >> did the billions of dollars the president sent to his green green energy buddies give any one here a job? >> mr. president, we welcome any the good news on the job front. it is thanks to the innovation of the american people in the private sector and not to you, mr. president! >> romney! romney! romn romney! romney! romney! romney! >> this president's misguided policies made these tough times last longer. earlier in the week he spoke with a woman from texas during an online event. she told him that her husband has been out of work for three years. president obama said that he found that interesting. interesting. really? i have got a better word -- tragic. america need

let me ask you this. you surprised with all of the research-- this book was five years in the making, i think. has governor romney said anything that surprised you so far? >> it's interesting. you know, twice in the last couple of weeks he said that was a mistake. i made a mistake. for example, not releasing the tax returns when he was pressured by people who were his strong supporters saying do it now. he finally did it. he said it was a mistake not to do it earlier. he said i'm not very concerned about the poor, the way he worded it was wrong and after a couple of days he said that's a mistake its not the kind of thing he likes to say. he doesn't like to project that image. he's really to to listen to some of the folks outside the inner circle who are saying you really have to get ahead of this. this is causing problems. >> schieffer: john dickerson, put it all in perspective now. gingrich says he's hanging around for the long haul. how does this work out? can he do this. >> it's very hard. romney has h

let me ask you all, first of all, let's talk about newt. he goes away snarling tonight. he did not endorse, he did not support. he did not congratulations. he did not concede tonight. what is that going to mean? >> well, a long campaign. now it's going to be long as a matter of intention. and now his ally, ron paul will be the caucuses. i saw dloogs and defiance. he detailed and almost lunatic specificity the first days of his administration. but he was doing that to make a point. which is he thinks big thoughts and he thinks in the long term. now the defiance is what i heard not only was the guy is going to try to take it all the way to the convention, but a guy who will be difficult to get in the convention. once he's in the convention will difficult to keep in the convention. he said a people's campaign directly between him and the people. that means if he's not satisfied with romney, if he doesn't win, if he country get what he wants in the convention, which he won't, he's going to threaten -- i'm telling you, he's going to threaten to go outside the party and create

let me ask you this. when we spoke yesterday, as i heard his story i asked him, how did you survive death row? the mechanics of this. i asked about how much time in the yard that he got. i wonder if you could share with members of -- in the auditorium where your daily life was like on death row. >> i cannot handle i was watching. this was death row in louisiana. you have three televisions on the wall, you were in your cell 23 hours per day, you get out for the shower or exercise, -- >> let me interrupt you to make this clear. you are completely alone, and the televisions are outside of the cell, or multiple inmates can be watching them? and they all may be on different channels? and you have to hear this even if you are not watching television? >> this is crazy. you have sought -- you have for televisions and four different channels, 15 people tried to talk at the same time. i was there was a mentally disturbed people and they actually had to have shot to calm them down, whatever kinds of drugs that they g

and let me -- let me ask it in a question. do you believe to move this economy forward, get better revenue streams, reduce the deficit, create the right kind of mix, can you cut your way out of this? >> well -- >> if that's the only scenario that you have, that we're going to cut the budget. >> so our estimates say that if you were to have sharper cuts in spending, then those already embodied in current law. >> that means the automatic caps. >> we'd come back to you with a lower projection of economic growth in the next few years. depending on what happened to those policies over time, we might have different sorts of answers to the effect on the economy later in the decade. depends whether those policies were sustained. whether other policies might be made in the budget. but in the next few years, further cuts in spending beyond those in the budget control act, beyond those in current law, would lead to even weaker economic growth. >> would impact economic growth in a negative way? >> yes. >> let me ask you also, where we are

let me ask you in my remaining time about adg

. >> let me ask about the weapons stockpiled. it was discovered he had large quantities of unconventional as far as. are they secured? >> yes, they are. >> were these records produced by libya or wondering whether they had help producing. >> what about your assessment of what happened to all the stockpiles of conventional weapons, like artillery. >> the huge concerns are weapons a rarm. in fact, billy started this as the most to recover armpits. from that program, they recovered about a quarter of them. there are some number of others that were, that we're in depots and other storage areas. depot are foam at this time. also, about recovery of this incidents the transitional government in libya is on schedule and is moving towards elections and reforming the government. their oil refinery capacity has recovered faster than we anticipated. they're up to, we estimate, about 100 billion barrels a day and their previous level was about 106 million. so there are problems there but there is some room for optimism. >> how did you estimat

. >> let me ask you, mr. chairman, how can romney say that the safety net helps poor people when he supports things like the ryan plan that would shred the safety net? >> i thought the most revealing thing about that was when romney, who claims to be very well informed and, in fact if you talk about the tax code. if you talk about corporate tax breaks. if you talk about things that will help wealthier people. if you talk about foreign policy, he prides himself on how well informed he is. listen to what he said about the safety net. if it's broken, i'll repair it. we've repeated that twice. in other words, he has no idea. he knows there's one out there. i thought it's very revealing. he cares so little about this issue, as he's acknowledged, that he tells us, yes, there's a safety net and if it's broken, i'll repair it. by this time, after having been a governor of my state for four years and not a very good one, having been a candidate for president twice, having run for the senate, you would think he'd know

let me ask you this, moving on to policies. risk brace pricing is something that's been very much a part of our financial system. those people who pay late, pay more, and those who pay on time typically get credit at lesser rates. we had conversations with someone who was going to be potentially in your position prior to moving on to senate races and those kind of things. and it appeared to us that they didn't really believe in risk-based pricing. i'm just wondering if you can clearly state to us, when people lay late, when they have lesser credit, should they pay more for credit? is that a concept you'll reinforce in the consumer agency? >> senator, i believe that's the way the market works. i mean, when you price a product, have you to take into account costs. one of the costs that you have to take account 6 of is risks of default, risks of loss. they can come from many different sources, not just the fact that someone on the other end of the bargain doesn't follow through, but that certainly is something i think any responsi

let me ask you a quick question.good news in all of this for mitt romney, if there is any good news? >> i think there is no root -- no good news for mitt romney in all of this. >> nothing good in all of this? >> yeah, i think that even he's eroding in arizona, eroding in all of these places that should have been his firewalls. it's very bad. >> john? >> he needs to plant a flag and say, i'm the most electable candidates, i can bring independents into the tent, but instead he's calling rick santorum a rhino. that doesn't even pass the laugh test. >> in name only. >> he's resorting to that kind of color -- >> reinan, john, jamal, thank you all for being here. we'll be talking about this more, i'm sure, before november. join us at 8:00 p.m. wednesday for a lot more talk about it at the arizona republican presidential debate, moderated by our own john king. you don't want to miss it. >>> tonight, in our "under surveillance" segment, the big business of big brother. the next time you go shopping, there's a chance the stor

. >> let me ask you one final question. i know you have children the same age, your daughter was friends with bobbi kristina. what was she like as a mom? >> they weren't friend friends but they knew each other. kids nowadays they have friendships and they don't know each other but see each other on facebook and this and that, they're connected but don't really know each other. not the way we used to know each other. >> maybe that's -- that's a tragedy of a broader story. thank you very much, appreciate your taking the time. and now janelle snowden joins us. she's been following whitney as a reporter for several years, joining us from l.a. i really appreciate your taking the time. i know vh1 was about to do an interview with whitney houston a few hours after she died. what happened when they came down and broke the news to your producer in the lobby of the hotel? >> well, let me just say it was vh1 behind the music crew that was stationed at the hotel at 12:00 p.m., which is six hours in advance of the interview time. it was

let me ask one other line of questions. dr. gruenspecht, your testimony, in discussing the world or the international energy outlook, you say renewable energy is projected to be the fastest grow ing source of primary energy over the next 25 years. the renewable share of total energy use increases, in your projection, from 10% in 2008 to 15% in 2035. do you also have in your report an analysis of what those trends would be with regard to renewable energy? >> yes, particularly in our annual energy outlook, there's a lot of information on renewable energy. again, it's very fast growing for two reasons. one, in the transportation sector, you have the mandates for the biofuels, which even though we don't believe that the target at 2022 would actually be met. that certainly is driving renewables in that sector. and we have a lot of renewables in the electricity sector. the share from renewables i think grows from, like, 10% of generation to 16% of generation. so that's a pretty big increase. generation is going up. although not too f

>> i just don't know. >> let me ask you this. we heard it said, well, we just need to go back to the clinton prosperity and i would hardly agree with that. that looks awfully good by today's standards. did the clinton administration increase or decrease spending as a percentage of gdp during his eight years in office? >> as i said, we have a set of nice tables in the back of our book. >> as a percentage of gdp didn't it decrease under the clinton administration by a whopping 3.5%? >> depebds on how one aligns the fiscal years with the presidencies. fiscal year 1994, for which the budget was set in 1993, spending was 21% of gdp. and then in the year 2000 it was 18.2% of gdp. >> cut spending relative to gdp? >> i guess i would have said the president and congress in that era made a set of decisions that -- >> where credit is due, the president signed that legislation. did he expand or contract the federal government's entitlement obligations during this period? >> that's a hard question to answer, congressman. >> i'm referring spec

. >> let me ask you about the valuation, if i could, and let me just throw out at the top that i've heardou say in the past, we're not focused on our valuation. i know you get asked about it a lot. ask you respectfully if you would comment on the fact your 157 times earnings for your forward pe, pandora is 800 times, zynga is 94 times, zillow more than 100 times as well. answer the question whether you think there's a bubble in social media represented by the tremendously high valuations, i'd love to get your comment on that. are those values justified? >> you know, i said in the past, i would say it again, we leave the valuations to the marketplace. we focus on executing our plan. we focus on our fundamentals and if we get that right over the long-term i think the valuation will take care of itself. with regard to specifically as to whether or not we're in a bubble, analysts who cover the companies would tell you the premium valuations in multiples they enjoy is based on the prospects ahead of them, that's why it's important for the segment to continue to focus on the long-term. >> let m

but let me -- and i could ask you a lot of questions about both of those. let me just ask you about your testimony regarding the national labor relations board. you testified in your testimony, you contend that the nlrb unlawfully issued a rule regarding the posting of notices on employee rights. first, does your company post notices of employee rights regarding the minimum wage, osha, and workers' compensation and laws prohibiting discrimination? >> yes, we absolutely do. as a federal contractor it's been a requirement of ours. >> do you consider these postings to be burdensome? >> burdensome in the sense that there are inspectors that would come through and verify that our posters are displayed, that they are the right size, that they are not hidden away in a dark corner somewhere. the fact that there doesn't seem to be trust. >> and the good companies do suffer from the bad companies because they are not all as great as your company esteems to be. in some places they do put them in a dark room or where no one can get in, they tell me. let me ask you this,

so to that end, let me ask for your candid responses. why was this not done until now? >> i beg your pardon? >> why was some of this not done until now in terms of evaluating? why was this not done until now? >> no, there was nothing done. as i indicated earlier, we have had several reviews. this is the most extensive one which we have asked for. but we've had several reviews over the course of the program since i became the undersecretary. >> let me ask this for clarification. who sets goals and objectives for each year? who is responsible for that? >> i'm sorry, sir? >> who sets the cfas goals and objectives each year? who is responsible for doing that? >> sir, the program directors provide those goals. they go up the chain of command to the assistant secretary and to me. ultimately i'm responsible for them. >> are those public information in terms of those annual goals and objectives? >> i'll have to check, sir. i don't know whether that's public information at this point. >> and how do you measure those goals and objectives? is that something you have in terms of in

. >> do you know -- let me ask on a somewhat different issue. we had a very good hearing where the quadrennial technology review was presented to us, and this was the first of these quadrennial technology reviews. to what extent were the conclusions in that quadrennial technology review used to influence what you've presented to us in this budget? does this budget reflect the same priorities that the quadrennial technology review identified? >> to a large extent, yes. i think the quadrennial technology review, the first one in the history of the department of energy, we wanted to step back and say a slightly different question than what are the things we should be funding, but what are the things we should be finding where the taxpayer dollars will do the most good? if we find there are certain areas that the private sector is well invested in, we have to say we really shouldn't funding that. they're taking the ball and running with it. this is good. we did this with research in shale gas, 1978, '92, the industry didn't want to touch it. they di