oil shale? there's no way you'll see oil shale developed within the united states in any time probably in our lifetime. it didn't work in the 1980's, it's not likely to work in the next two decades. so what's this all about? by the way, if you happen to be from colorado utah, arizona california, new mexico you'd want to go whoa, wait a minute, oil shale? that takes a lot of water. we don't have enough water and you want to use it for that? i don't think so. let's get real here. we do need a real energy policy. you're going to open up anwr? there are some very special places in this world. and anwr happens to be one of them. the arctic national wildlife refuge happens to be one of those places. you're not going to open it up and by the way, those of us from california, my good friends on the republican side are always talking about state rights. always talking about state rights. and your little piece of legislation here strips away the right of california to take care of its own coastline. it's

in addition, these are sandstone and shale. they have been uplifted and faulted and put into the position they are in today. on the cliff face, you can see the bedding of the shale. there are vertical cracks that filled the water and plans is growing. -- and plants are growing. the cumulative effect of the fresh cut with the debris sitting on the ledge, luckily we have a chance there to protect us from rocks going on the street. >> this is one type of rock salt and we will look at a few others. what will we see? >> i think it would be appropriate. we have been talking about rock salt. there is instability that occurs at telegraph hill. this was more in the earth flow and debris flow kind of movement. this moves downhill as a result of the rations from the earthquake. that is where we are headed next. >> here we are on the next stop of our landslide for parent though this is the lagoon ouna a area. this is different from where we all were just add on telegraph hill. this is a whole different concept. tell us what we have to. we

that's why we're doing the studies. >> thank you. >> is it known for certain whether or not shale gas development through hydraulic fracturing poses no risk to the environment or to health? >> no, same answer. that's why we're studying it. >> and so what you're doing, you remember to the study an objective sign based understanding of the potential risk is really going to be the first step for congress to figure out how we can develop unconventional shale gas resources. so last year as you know congressman henchy and i requested the e pa to do a study to determine the potential impacts of hydraulic fracturing on drinking water. now due to the extent and complexity of these studies, the epa established quality assurance plans to ensure the validity of the data; is that correct. >> that's correct. >> the study is currently under way with report of plmry findings due at this year and another in 2014; is that correct. >> correct. >> under your new budget request, the current study will be expanded to address the broader environmental impact of hydraulic fracturing, including ecological, to

oil shale? there's no way you'll see oil shale developed within the united states in any time probably in our lifetime. it didn't work in the 1980's, it's not likely to work in the next two decades. so what's this all about? by the way, if you hpen to be from colorado utah, arizona california, new mexico you'd want to go whoa, wait a minute, oil shale? that takes a lot of water. we don't have enough water and you want to use it for that? i don't think so. let's get real here. we do need a real energy policy. you're going to open up anwr? there are some very special places in this world. d anwr happens to be one of them. the arctic national wildlife refuge happens to be one of those places. you're not going to open it up and by the way, those of us from california, my good friends on the republican side are always talking about state rights. always talking about state rights. and your little piece of legislation here strips away the right of california to take care of its own coastline. it's not

and global energy poll spip whether we're talking about china taking steps toward proving up its shale gas resource, which by some estimates is larger than our resources in the united states or where we were talking about the strait of horm use, we can all acknowledge they could have impact on the every day lives of americans. i'm interested whether there's a challenge to conventional wisdom today. when oil prices peaked back in 2008, we here in congress talked a lot about it but you didn't see much in terms of policy changes. we should take a lesson from that experience and recognize times of relative stakt are an tonight to recall what we said in times of crisis. it's times like now when we're able to have a more reasoned discussion that i believe we should seek to develop a coherent policy and then act on it. i'm particularly interested in whether the u.s. can holding together and truly see through this natural gas ref luce that's risen to the top of our energy discussion. technology developed here at home has allowed to us tap the abundant resources that we have and we're faced wit

since that time, and it's been the story that then the development of shale gas and shale oil has been quite remarkable in the last half dozen years. but there are also -- there's active environmental concern, there are reports on emissions, things of that nature, so the research we're now wanting to do in the department of energy and usgs is, all right, first, what's really happening? and secondly, how do you keep on advancing best practices because we improve on virtually everything we do going forward, and as i said, how could our research help in developing and improving the practices that are more focused on making sure that the water tables aren't contaminated, things of that nature? >> is the administration looking for a way or a reason to shut down fracturing? >> no. >> thank you. >> thank you, mr. alexander. mr. womack, thank you for your patience down there. >> thank you. happy birthday, happy anniversary, and my complements to the secretary for his comments at the er summit. and my complements to shundar who is hosting the event. i want to stay on the natural gas subject for

but it's because of the shift from south louisiana to north louisiana with the shale plays. but in south louisiana, we still are experiencing tremendous downturn because of the slow permitting process. the deepwater plays are significant, but the shallow water drillers have really been hurt. and according, mr. chairman, to this report, which is really the hidden story of the mccondo spill and the, i thought, inappropriate moratorium, put down 41% of the respondents said they are not currently making a profit. these are the small oil and gas independent marine operators. 70% said they have dipped into their cash reserves. so they're not laying off their employees, but at great hardship to these small and independent businesses that are servicing an industry that the top line looks good, but there's a lot underneath. so i'd like to submit that for the record. >> we'll be glad to include that. >> secondly, in the report, supply rising in the west growth at risk in iraq, i think it's -- the page is not numbered, but this is in your report -- you all say that we have pencilled in

early r&d in tight gas, shales, and methane helped to catalyze the developments of technologies we're applying today. so actually beginning in the mid'70s, when we began to fund this, there was a coordinated program beginning in 1978, and here on those redd bars, you see the department of energy funding. we stopped in 1992. in 1991, schlumberger picked up hydraulic fracturing and drilling. so it was being handed off to industry. and as industry began to realize that, hey, maybe there's something in this, you see the increase the tight gas, the increase in methane, and especially see the increase in shale gas. so it was that department of energy funding that led the way. our budget calls in modest amounts for funding not in shale gas, that's now an established technology, but in other things like methane gas. so this is methane, no, methane is gas. this is methane hydrate gas. so in any case, we think we still have the opportunity to help fulfill the promise of other energy technologies. the blue river commission came out with a set of recommendations. we're taking those very seriously

and shale gas, west virginia's been a big player in marcellus, as you know. and the coal and everything we've been blessed with. if that's been downgraded now to the point where it could affect the cost of what we would manufacture, do you see the supply having a big impact on pricing and us manufacturing in this country again, by not having the dependability with the slashing of the reserves? >> i think this reserves or resources story is a more accurate way to phrase it, because i think the numbers we're talking about are total recoverable resources, not reserves, which is a much smaller number. but i think sometimes too much emphasis is placed on the estimates of recoverable resources. in fact, you know, despite this downward adjustment that we made, in fact, our natural gas production and price projections are actually lower in the new outlook than in the previous one. i would say that, you know, our -- we rely very heavily on the geological survey for information about geology. they came out with a new assessment of the marcellus after we published our l

in large part because of the ability to get oil from shale-like rock. this is a big boon in your state. and you got to get that oil to the refineries. and this is also wealth creation. and it's decrease oil dependency, all good things. the private sector is the one that is investing in the pipelines. about -- the only time the government actually steps in is -- well, there is ferc issues. but in terms of the one you're worried, concerned about is the one that goes across the border. >> right. >> and then that's a state department issue. >>i atoints. your technical advice, again, the department of energy. this administration's department of energy, the report i cited said that the keystone pipeline will lower gas prices, not may, but will lower gas prices, east coast, gulf coast, and in the midwest. in addition the report also says that it concludes that the pad 3 refiners, will likely consume additional can iddian oil sands well in excess of what would be provided by keystone xl pipeline. the reason i cite this is because some of have we'll bring it in

but it's because of the shift from south louisiana to north louisiana with the shale plays. but in south louisiana, we still are experiencing tremendous downturn because of the slow

is it known for certain whether or not shale gas development through hydraulic fracturing pose noes risk to the environment or the help snj. >> same answer. >> okay. and so what you're doing, you refer to the study and objective science based understanding of the potential risk is really going to be the first step for congress to figure out how we can develop unconventional shale gas resources. so last year, as you know, congressman hinchy and i initiated requests that the epa did a study to determine the potential impacts of hydraulic fracturing on drinking water. due to the extending complexity, the epa established quality assurance plans to insure the fa lid ti of the data. is that correct? >> that's correct. >> and the studies currently under way, as i understand, was a report on preliminary funding due at the end of this year and another one due in 2014. is that correct? >> correct. >> now under your new budget request, the current study will be expanded to address the broader environmental impact of hydraulic fracturing including ecological impacts as well aways to minimize the e-n

we did this with research in shale gas, 1978, '92, the industry didn't want to touch it. horizontal drilling or fracking the rock. industry picked it up. that's the attitude we in doing

shale gas.tries to cut a deal with china about pipelines that require commitment for the next ten years. china wants to see gas go to contracts. and what exists now between spot and gas prices which typically have always been linked to oil prices which is what russia wants are reasons this is not getting done. in russia they're looking at europe and saying fiscal austerity is actually a bad thing. viewed a panel where putin sat with michael milken, the head of spare bank, and they had an intellectual discussion. the main conclusion was fiscal austerity even though greece is ultimately -- it's a fore gone conclusion they leave the euro, fiscal austerity right now will kill europe. this is the worst thing europe can do right now. even the russians believe in a little stimulus goes a long way. >> in terms of the trade, it sounds maybe you want to go to a play that's domestic russian market, non-oil? >> well, i think while russian oil stocks remain cheap, yeah. look at the consumer names. is potenti

i did not exactly manage the development of a shale gas that has _ -- under cut my stock by a factormust try to remember that it is a business and keep our eyes on the economics and try to identify the changes we keep all -- we think are inevitable and plan for them. over the course of my 28 years, i have had a compound return of somewhere between 12 and 13%. i wish i had bet more money on me when i was young but i did not having more to bet. here and exelon, we have been through the collapse of 2000 and 2008 and shale gas expansion and we have a total return of almost 10% compounded at a time when the s&p 500 is now near four and the utility index is something like 7.5% area we have done very well in the environment we have had. >> and his other life you have outside the utility which is now your primary light. i did not mention that you have endowed a chair of biology? this is virus fighting? >> it is at the university of wisconsin where i went to school. jean and i, my wife, have endowed with three chairs there, one in greek history, byzantine history, and one virology. i sent the

with gas shale.e's more interest right now in oil shale and we've got exploratory activity that will play out throughout the year, and then we'll have a better sense of what kind of resource we have. >> all right. good man. dan fulton, president and ceo of weyerhaeuser, great upside surprise. thank you so much for coming on the show. >> good to talk to you. thanks very much. >> guys, the stock is still cheap. all right? the bar's been lowered by the pulp forecast. and i believe that the orders from overseas are going to be very big this year. i would stay with w.i. stay with cramer. >> coming up, ride the lightning. take a nonstop thrill ride as cramer goes stock after stock. all your calls taken rapid fire on the "lightning round." ♪ there's a place i dream about ♪ ♪ where the sun never goes out ♪ ♪ and the sky is deep and blue ♪ ♪ won't you take me american flight 280 to miami is now ready for boarding. ♪ there with you fly without putting your life on pause. be yourself. nonstop. american airlines

with gas shale.e's more interest right now in oil shale and we've got exploratory activity that will play out throughout the year, and then we'll have a better sense of what kind of resource we have. >> all right. good man. dan fulton, president and ceo of weyerhaeuser, great upside surprise. thank you so much for coming on the show. >> good to talk to you. thanks very much. >> guys, the stock is still cheap. all right? the bar's been lowered by the pulp forecast. and i believe that the orders from overseas are going to be very big this year. i would stay with w.i. stay with cramer. >> coming up, ride the lightning. take a nonstop thrill ride as cramer goes stock after stock. all your calls taken rapid fire on the "lightning round." ♪ [ male announcer ] for our town. [ dog barks ] for our country. ♪ for our future. ♪ this isn't just the car we wanted to build. it's the car america had to build. ♪ the extended range electric chevy volt. from the heart of detroit to the health of the country, chevy run

we're not open yet in the arctic, but, of course, the shale boom is the biggest news. michael brunh, isn't the real culprit here iran? that the trainers are taking large net long positions, okay. we went through the numbers today. back in october, according to the cftc. traders were 181,000 contracts long. now they're 281,000. everybody is taking about the saber rattling for the strait of hormuz. that's what's driving energy prices right now. we have a lot of supply, but there's worries about a supply shortage. isn't that the case? nothing would change that in the short run, michael. that's -- we're just stuck with this iranian problem until our government does something about iran. >> that's why drilling won't make an impact on gas prices. it won't make an impact for this week, this month, or even this year, or the next couple of years. we operate on a global market. like it or not, we cannot drill our way out of this gas crisis. we can't drill our way out of the next gas crisis. the only way to avoid this situation from repeating itself again and again in the future

we did this with research in shale gas, 1978, '92, the industry didn't want to touch it. horizontal drilling or fracturing the rock. industry picked it up oovps. that's the attitude we in doing this, that where could we put our dollars that would actually stimulate the research and development to a point where the private sector starts to run with it and grow american industries. so that quadrennial technology review was very useful in helping us find out by pulling back and looking across all of our funding arms energy, offices and now rp, are we putting the dollars where we think they can do the most good. that is beginning to shape. we hope as it goes on further, just like the quadrennial reviews of the pentagon and state, actually set up long-term plans that can help our country. energy investments are 60, 70-year investments. they can't be decided year to year to year. you can't -- when you build a new gas plant, a transmission line, you name it. these are long-term investments. >> thank you very much, senator mccow ski? >> thank you, mr. chairman. the chairman asked

, and i wath watched the senate pass the marcellus shale legislation. i thank you. i thank you. i urge the members of the house to take this bill up, and rethis as quickly as possible, and pass this legislation. thank you very much. [ applause ] by keeping taxes in check and spending under control, we continued to replace jobs lost in the recession. those jobs weren't created by any decree. they grew because pennsylvania's budget. rather than postpone the inevitable faced up to the moment. we reduced spending to fit the realities of our time. pennsylvania took its first steps towards changing the culture of tax and spend. together, we can make the reforms that count. it is time to show citizens weary of empty promises, and doubtful that real change can be believed in that we can accomplish more. in this administration, we have decreased overall spending by 6%. we reduced the state automobile fleet by more than 1,200 cars and the agencies that fall under the supervision of the governor, and we have eliminated per diem expense accounts and we insist on re

of opec will continue to increase and a big wild card is certainly what happens with tight oil or shale oil as it's called. will that become a world wide phenomenon. also the gap between projected u.s. natural gas prices and the latest eia and iea outlooks has narrowed as the iea has cut its price adjustment for the u.s. market over the last several years but its import prices are still more than 40% above e ima's reference case priced. at the end of the projection, our -- this concludes my testimony. i would be happy to answer any questions you might have. >> thank you very much. ambassador jones, go right ahead. on the other hand we think that non-opec oil supply and opec gas liquids, which are not subject to production restraints will bound by as much as 1.6 million barrels per day combined. at current opec production levels, this would imply some slack in the market and recovery in world oil stocks, which are well below five-year averages after near a year of steady decline. however, it appears more likely that opec producers will trim supply by around half a million barrels per day

in large part because of the ability to get oil from shale like rock. this is a big boom in your state. and you got to get that oil to the refineries. and this is also decreased oil propensity. the only time the government actually steps in is, well, there is issues. but in terms of the one you're concerned about is the one that goes across the border and then again that's the state department issue. >> department of energy, this administration's department of energy, the report i cited says that the keystone pipeline will lower gas prices, not may, will lower gas prices. in addition in that report also has that it concludes that the refiners, the gulf coast refiners will likely consume additional canadian oil sands well in excess of what would be provided by keystone xl pipeline. the reason i cite this is some said we brought it in from canada and then export it somewhere else. but your own experts have said that it will be used here and we're going to need more not less. so it won't be export. so you said the department of energy that will reduce pric

he says getting oil from shale is expensive. the price of oil is up 40% since 2007, roughly $107 a barrel. this technology is only profitable if the price stays high. is there any chance this winds up being the crude version of the gold rush and then at some point the bottom drops out? >> well, all... all rushes, whether they're gold rushes or oil rushes or booms, have a beginning and ultimately they have an end. so the question is what will the end be like? >> reporter: but moran, who use to head a major petroleum association here, is confident. he even predicts this boom could eliminate the united states' need for foreign oil in just ten years. ten years is not very far away. >> no, ten years isn't. just five years ago we were importing 60% of our oil. today, we are importing only 42%. >> reporter: so you didn't expect to see that. >> i did not expect to see that ever. >> reporter: melvin moran says he'll start on another well next month that could produce another $25 million worth of oil. anna werner, cbs news, seminole, okla

that's who deserbs the credit. >> dean baker, the department of agriculture stopped the shale drillingica field in ohio. it seems like the epa has been a boundary. >> the free market says that you can pollute my drinking water? people are trying to make their living as fishermen, tourism, and beaches covered with oil. >> that's an excuse to stop drilling? >> you have to make sure you have good controls in place so you don't have another one. what will you tell the people in louisiana the next time that happens? >> let's not imagine for a second. this president wants lower oil and gas prices. you know, maybe just for the election. and he came in, said he wanted higher fossil fuel prices to it to combat global warming. would would have a cap and trade system. >> we have a mild winter in d.c. >> he's not for cheap energy. >> he's for sound environmental policies that will do something about global warming. and wish it away. i'm sorry, we have a really warm winter in d.c. which i kind of like, but on the other hand, it has a lot of really bad implications for us down the road. >> you're th

the potential with shale gas is enormous. we have done a study with pwc that shows the shale plates will create 1 million manufacturing jobs in this country in the next few years. you think about the spinoff jobs that occur from that. it has enormous potential. that doesn't even take into account all of the benefits that businesses will derive from lower cost energy. we really need to focus on that. we also need to take the politics out. congratulatio congratulations, governor. that is why you are governor. a lot of times we play politics with energy policy. the keystone pipeline is a great example. it needs to move. we need to make sure we are trying to encourage every type of energy supply and development that we possibly can in this country because it does mean jobs in the future. there is no question about that. >> in the meantime, you know, private industry is just driving innovation, conservation, ge appliance hybrid introduced friday. go to the auto show. you will see fuel efficiency standards 45 miles per gallon. whil

and just like with shale gas, if it looks like it can be developed and initially gets invested, that is part of the strategy. then they can take it over. right now the program being done in alaska is actually being directed by a d.o.e. scientist and so it is a research project. but it's just one part of that research project. after this stage, we see it continuing. >> well, i think that's important. we recognize that apparently there's 12 million now proposing this budget for all methane hydrate next year. it's my understanding that this test is going to -- is going to be more expensive. so the commitment then from d.o.e. will be important. we'll follow up on this conversation. thank you, mr. chairman. >> senator widen? >> you've been a patient soul. you have sat in that seat for 2 1/2 hours. as you can sttell, up on this se of the desk, there are diverse views with respect to energy. folks would care about wind and solar and coal and nuclear. and so there is a wide variety of opinion. i want to ask you about an area that i think would be unifying and something that i think you in pa

. >> something like shale gas. so if the studies are true -- there would be people that could articulate better than i could -- we have a boatload of gas. we have a bunch that could really dramatically change the future of the country. we could actually be an energy exporter in our lifetime. yet everybody is waiting for world war iii to erupt between the epa on one side and somebody else on the other saying, look, here is the standard we have to meet swrechlt to reclaim 100% of the water, do it in an environmentally friendly way. there's no sense that there's going to be an over arching strategy verses yard by yard of fight and warfare. it's just not the way other countries necessarily approach stuff like this. >> that's a great example of what other countries do. they say i have this amazing new entrepreneurial errant to discover, it could be a new chip. here i have discovery of the energy kind. how do i approach it as a nation? what do i worry about? who should i consult with on the regulatory side? who knows any

we have a resource endowment as measured by a boomer in natural gas with shale gas and other finds the u.s. has an incredible abundance. in corridors we have great wind. if you look at kind of the central corridor to the west, we have probably the best wind to do power generation of anyplace in the world, and we have some of the cleanest coal and access to oil. so we start as a -- what other countries will look at as a natural resource powerhouse. then you add to that some of the technical innovations around energy efficiencies, some of the innovations around renewables, some of the company and environmentally friendly systems around shale gas, advanced technology in things like nuclear reactors, batteries, gas turbine systems, efficient engines and jet engines and automotive engines, and then the great university and lab skill we've got. we can actually put this together as a country and achieve i think multiple goals over the next decade. i never think that complete energy self sufficiency is necessarily a good thing. you want to be part of a global network. but i think between now a

in particular marsala shale natural gas development. and, you know, i did listen to the president's state of the union, listened to it intently. and i heard his commitment to producing our natural gas because he had come to the conclusion that natural gas is a safe domestic source of energy of today and tomorrow for all america. to me i hope the president was sincere in that statement because i joined him in that sentiment in that we have, in our shale formations in america, an amount of natural gas equal to 100 years of supply for america. people have described it as if we are the saudi arabia, the united states of america will be the saudi arabia of natural gas supply for the world. that type of resource is a game changer. and we are talking about thousands of jobs, we are talking about the ability to create an energy platform that allows our manufacturers to come back to america. that is one thing i think we have joined on both sides of the aisle to be committed to. is to build things in america again. and why does a natural gas plat

we just had huge investments because of our location with the marcellus and utica shale. we've seen huge investments of almost a billion dollars for steel companies there. velora which is a french company just put $650 million into a steel meal between youngstown and girard, ohio. so we have thousands of building trades working in youngstown. and then you'll go a few miles away, and other building trades can't find work. so it's really the tale of two cities. but my point is on why i get so adamant about the investments and the sciences and the health is because i'm seeing in akron and in youngstown what these investments lead to. they lead to job creation at the end of the day. and when we pull back those investments, businesses don't thrive. businesses don't partner with them. and we have no new economy. and we're getting stuck talking about tweezers when we should be talking about high-end battery manufacturing and how that can the done in the united states. and in places like youngstown and the old steel belt, if we had a tax policy that would incentive advise convert

arabia represented in that oil shale.he idea that we ought to have states by letting them have a share of the royalties that's a grade idea i do think the idea of saying on these lawsuits filed against oil development that there ought to be looser page rule if you file a lawsuit you ought to lose it. >> bill: not only strangling u.s. production but the medical industry is in sane. two parts that are problematic, cleaner energy research is good but he also wants to have cleaner energy projects. we have got that going on with solyndra. government can underwrite basic research but does a lousy job of being venture capitalist investing in certain firms as opposed to other firms and we ought to try to avoid that. >> bill: i don't want to belabor this if you are going to allow oil companies you have to make a deal they keep it here. you just have to. tonight, arizona, everybody is saying romney going to walk away with it. michigan, polls are basically a dead heat. i don't think romney wins in michigan even if he wins in michiga

now, these two developments -- [applause] north dakota and shale gas -- by the way, shale gas is froms a huge series, and some of them are associated with oil. eastern ohio producing both natural gas and oil. of this, and in western pennsylvania, i think they have created 62,000 new jobs. this is an exciting. now, it is enormous. the new technology and new market conditions. we have a virtually limitless supply of energy, and we can be independent producing our own energy on a way that people on the left do not even want to think about. first of all, if we could be independent in producing energy, no american president would ever again bow to a saudi king. [cheers and applause] it is very important to hear what the iranians have been doing. they have been looking to close the strait of hormuz, which would be a bottleneck for everyone out of 5 barrels of oil. the long-term answer to that is to produce so much oil in the united states that we do not care. [cheers and applause] i think it particularly matters with the middle east, and i will give you two examples. when we discovered that

chinese ago the leader of the much of a seat in sorrow at a peaceful campaign against the shale oil company. to pull the dictator sunday a bunch of things on trumped up. it doesn't amount was guy we. might do to keep. my father. beat me people have sacrificed risking their lives to put the truth for the generations to understand. the young black guys are well thought out i think it. was more like this you want to bomb educated we are not twenty words we are. very hard to see nonviolence is discipline. if there. are you don't listen then in law generational well i'll follow us tried nonviolence maybe we should try volunteers how do you bring people in without we way to government. people. the bottom line is that when one speaks of genocide one talks. never speaks of the congo. or the united nations. conflict in the world since world war two. geological scandal because of the enormous mineral wealth that's in. conflict is based on who's going to control the resources of the congo that's really what's at stake we're talking about your rainy i'm cold. you name it. they have it it's there in the

very important is the emergence of shale gas and shale oil as a cheap source of energy which has madeturing more competitive. also the fact that you now have had several years of low wage growth. so wage disparities have been reduced. and so all this is bringing a very welcome relief. i'm worried that the politics of the election are going to interfere and put a lid on this because the republicans don't want to face the elections when obama can claim to have sort of saved the economy, recover. they will continue to push for austerity, no new taxes, and therefore cutting of services which will depress economic activity and employment. so it will be a break on the politics. it will be a break on the recovery this year. after the elections, if the republicans win, actually, they'll undergo a miraculous transformation where they discover that actually it wouldn't be so bad. we can afford to have some stimulus. >> so you think mitt romney, if elected, would pursue a stimulus program? >> i'm pretty sure that would happen. of course, obama would like to as well. he may find it more difficult