jack gerard, president and ceo of the american petroleum institute which all of our major producers, our partners and jay timmons, president and ceo of the national association of manufacturers and lowell mcadam, chairman and ceo of verizon. gentlemen, welcome today. thank you for being with us. senator lugar? >> thank you. i welcome the distinguished panel of industry leaders and i appreciate their efforts on behalf of the oil of the sea and their willingness to explain how the convention will help them create private sector jobs and contribute to the growth of the united states' economy. every major ocean industry including shipping, fishing, telecommunications and oil and natural gas, drilling contractors, shipbuilders, support the united states accession to the law of the sea treaty. this is not a recent development. ocean industry support from the convention has been unanimous going back to 2003 when the foreign relations committee first took it up and initiated a process that resulted in a unanimous committee vote to the whole senate on that occasion. a few years later on foreig

this is why they are endorsed by the united states chamber of commerce, the american petroleum institute and every industry with a stake in the sea bed mining and drilling. our resource extractor told us if you want them to move forward with large scale development of ocean floor resources that could contribute significantly to the united states energy and national security and create jobs, we need to ratify the law of the sea. and the state department for failing to approve a keystone pipeline. it provides clearer long-term benefits to job creation and energy security. in that case the president's delay is unnecessarily disadvantaging. the u.s. economy has concerns over thing that is not resolved. if the senate declines to have the law of the sea, i believe we will be doing the same thing. during this congress, they have been more sinful to senate

has the strong support of groups ranging from our military, the world wildlife fund, the american petroleum institute to the u.s. chamber of commerce. the economic erkts, the economic benefits of this treaty are clear. first it will ensure that we continue to maintain those shipping routes. but it will give our energy companies the security they need to create towers and create jobs. and it will secure or access to rare earth minerals which we need for example to make computers and cell phones. importantly, it will also help us urge other countries to sustain, to support sustainability, protect their marine habitats and species and to promote healthy oceans. already over 160 countries have signed on to this treaty. republicans and democrats alike have voiced their support for many years. everyone from presidents clinton and bush, secretary of defense leon panetta, to james watkins, great figure in my life, the former chief of u.s. naval operations and the chair of the commission on oceans policy. so it's clear that no country stands to gain more from this treaty than any other. the u.s. has an empty

a spokesperson for the american petroleum institute says the finding was premature stating the agency should have reserved judgment on the carcinogenicity. commuters i say spoke to that are out and about and exposed to the elements of the emission but sometimes they have no choice but consume it. >> it takes my breath away a little bit, but i never thought it was harmful. >> reporter: the report by metro shows nearly 44% of their buses are run by diesel. another 8% are powered by a substance called clean diesel. but the use is not limited to public transportation. most commercial trucks on the road use it. now those that fear the effects are looking for way to stay out of harms way. >> i don't know what else i can do? you can't avoid it. it's unavoidable. >> reporter: the last time the world health organization took a look at diesel fumes was back in 1989. its new classification puts it up there with uv rays. we're live, ken molestina, 9news now. >>> the results are in, and george allen wins the race to be the nominee for the u.s. senate. he is trying to reclaim the seat he lost in '0

. >> reporter: however, not everyone is buying it, a spokesperson for the american petroleum institute said the finding was premature stating, quote, the agency should have reserved judgment on the carcinogenicity of exhaust from fuels and engines until the research currently under way is completed. many times they are exposed from the elements from the emission. sometimes they have no choice but to consume emissions from diesel trucks. >> takes my breath away a little bit but i never thought it was harmful. >> reporter: a report shows nearly 44% of their buses are run by diesel. but the usage of this fuel is not limited to public transportation. most any large truck or commercial vehicles on the road use it. now those who fear the effects of diesel emissions are looking for ways to stay out of harm's way. >> i don't know what else i could do. do you really have a choice? you can't really avoid it at some level. >> reporter: the last time the world health organization took a look at diesel false was -- fumes was back in 1989. we're in northwest d.c., ken molestina, 9news now. >>> yeah,

has the strong support of groups ranging from our military, the world wild life fund, the american petroleum institute. we ensure to continue to protect and maintain the shipping routes. but it is more than that. it will give our energy companies the certainty they need to make critical investments and create jobs. ilow telecommunications as they build and maintain cables and secure our access to rare earth minerals which we need, for example, to make computers and cell phones. importantly, it will help us urge other companies to support sustainability, protect marine habitats and promote healthy oceans. already over 160 countries have signed on to this treaty. republicans and democrats have voiced their support many years from presidents clinton and bush to secretary of defense to james watkins, great figure in my life, the former chief of the u.s. naval operations, u.s. secretary of energy and the chair of the commission on oceans policy. so it's clear that no country has more to gain from this treaty than does the u.s. important meetings are already underway to draw up the rules that are flowing fr

governments either that's why lobbying firms exist that's why big trade associations like the american petroleum institute and the u.s. chamber of commerce which is funded by big multinational corporations this is why they exist they helped lawmakers draft bill is in secret they represent corporate interests that are looking for legislation that is not in the public interest at all. yeah pretty much alec draft bills in the corporate interest bills written by corporate lobbyists with coca-cola. dropping alec it's not as though big business has suddenly turned a new leaf grown a conscience they worked with alec because it was good for their bottom line they also left alec because it became a liability for their profits so even if alec days are numbered the days of an alec like influence to our state's political system well they're far from over so now the question here is not will there be a new alec it's who will be the new alec so we did a little digging and we thought that we should point out some groups out there that might rise to the occasion now first you've got the chamber of commerce one of the lob

the american petroleum institute says the who's findings don't take into account newer and more efficientgines. >>> the photos in this next segment may be difficult to see. and we want to warn you they are graphic, but they are important to see in the fight against breast cancer. survivors donna and barbie are here to tell us all about the scar project. ladies, thank you very much for being here. this is the notice that we see to save the day. every hospital that i've been in, every doctor's office where women are the primary patients, i have seen this little reminder about the scar project. what is the scar project? >> the scar project is a series of large-scale portraits shot by fashion photographer david jay of young women confronting breast cancer. it's basically an awareness  campaign of honest pictures of women surviving the disease. >> it's honest which means that it's not always pretty to look at, even though it's a fashion photographer doing this. and you agreed to do this. why? >> i just -- it was my opportunity to show what i look like now after the breast cancer. >> we just

the strong support of groups ranging from our military to the world wildlife fund to the american petroleum institute to the u.s. chamber of commerce. the economic benefits of this treaty are clear. first, it will ensure that we can continue to protect and maintain our shipping routes. but it's more than that. it will give our energy companies the certainty they need to make crucial investments that create jobs. it will help our telecommunications companies as they build and maintain undersea cables, and it will secure our access to rare earth minerals which we need to make computers and cell phones. importantly, it will also help us urge other countries to support sustainability to protect their marine habitats and species and to promote healthy oceans. already, over 160 countries have signed onto this treaty. republicans and democrats alike have voiced their support for many years -- everyone from presidents clinton and bush, to secretary of defense leon panetta, to james watkins, the former chief of u.s. naval operations, secretary of energy, and chair of the commission on oceans policy. so, it's

phoenix, up in the 100 >>s weat >> this weather report has been brought to you by the american petroleum instituteyou very much. >>> coming up here on "good morning america," a fascinating medical story. could this little pill be a cure for shop aschollics. a new drug that researchers say helps shopaholics control their impulses. >> but first you would have to admit that. >> that's the first step. right? >>> also, coming up -- maybe he thought that the dark side of the street rules were in effect. when darth vader tried to fight a parking ticket, we'll see if a jedi mind trick could get him off the hook. that's all coming up. a lot of references here? >> you're a "star wars" fanatic, we can tell. >> obviously not. >> keep it here for more "gma." a "star wars" fanatic, we can tell. >> obviously not. >> keep it here for more "gma." today's workout hardcore... and hot! so we use new coppertone sport pro series with duraflex. it's light, but it stays on strong in extreme sweat conditions. and it gives us broad-spectrum uva/uvb protection. new coppertone sport pro series. embrace the sun. [ male announ

we already seen the american petroleum institute on the campaign agenda.t will be interesting to see if we get any clarity on the policy front on this very dynamic issue. back to you. >> all right. meanwhile china's largest nuclear plant developer may be looking to generate not just energy but a whole lot of cash and what could be one of the country's largest ipos, china national power wants to raise funding for five projects worth more than $27 billion. the ministry said they approved the ipo plan but needs the green light. >>> time is right for china to cut interest rates according to a state backed newspaper. tracey chang has the details. >> hi there. well state-run china securities journal made the case for a rate cut in a front page commentary. the newspaper argues that inflation is likely to continue moderating in the second and third quarter and deflation risks are popping up in some production sectors. it points out chinese economy is still seeking a bottom and many indicators show demand don't slow. the publication argues to urge beijing to follow

this is why law of the sea is endorsed by the united states chamber of commerce, the american petroleum institute, and every industry that has a stake in the deep seabed mining and drilling. in other words, if we want them to move forward with large-scale development of ocean floor resources that could contribute significantly to the and and the state's energy and the a -- the state's energy and national security and create jobs, we need to ratify law of the sea. i have been especially critical of president obama and the state department for failing to approve the keystone pipeline, because it creprovides clear long-term benefits for job creation and energy security. in that case, the president's delay is on necessarily a disadvantage in the united states economy over concerns that have been largely resolved. if the united states senate declines to ratify law of the sea, i believe we will be doing the same thing. during this congress, few things have been more central to senate operations than job creation, energy security, and the needs of our military. the law of the sea convention is the mayor

that an oil company just won't export the fuel and the natural gas and now the head of the american petroleum institute says big oil also wants to start exporting america's crude oil as well. as american men and women are on the ground in the middle east fighting and dying to protect oil supply lines coming from the middle east into the united states, big oil wants to export oil produced here in america to china. to other countries around the world. that is truly frightening. and it's wrong, ladies and gentlemen. wrong in terms of our relationship with the young men and women who fight for us, who defend us around the world. big oil is beholden to shareholder interests only. they do not care about american national security and they certainly don't like americans to enjoy low energy prices which is what's happening right now with natural gas. they want a bigger cut. they want to create a global, national gas market and a global price just like they have for oil. that's the plan. . and companies are lining up at the department of energy right now to get permits to export american natural gas. 15 applica

the blm's proposed rule is consistent with the american petroleum institute's guidelines for well construction and integrity. on may 11, 2012 the bom published the proposed rule in the federal register begin a 60 day public comment period. straightforward measures outlined in the proposed rules include, disclosure of chemicals used in hydraulic fracturing operations with the appropriate protection for trade secrets. assurance other well bore integrity to minimize the risk of fracturing fluids leaking into the nearby aquifers, and water management requirements to apply to fluids that flow back to the service as hydraulic fracturing has taken place. the hydraulic fracturing proposed rule will strengthen the requirements for hydraulic fracturing on federal and any trust lands ago to build public confidence and protect the health of american communities while ensuring continued access to resources to make our energy economical spent thank you i needed to us by. of the happy to answer any questions. >> thank you. and thank you not only for your reinvestment but her oral test would four-line me to c

. >> i thought of this because you mentioned the american petroleum institute but a chart my thinking. here is a longshot that i know is that going to happen but i think this would be the right thing to do. if we can get agreement that we need a significant amount of revenue as part of deficit reduction, it would be a subsequent process could find a way to get some kind of tax on carbon into this mix. you could use part of the results for deficit reduction. you could use part of it to offset the events of higher -- on high-end middle income. but i am one who is increasingly nervous about what's going to happen worldwide by our inability to deal with climate change which is even more serious than our inability to deal with various fiscal issues and the fact that we do need some revenue here maybe there could be an opening for some kind of bipartisan agreement to also make drivers on that. >> one last question. >> lloyd from spaulding. thank you all of you. there have been several references to sequestration which everybody knows was included not as irrational method for reducing the de

us right now with his reaction to this is jeff gerard, the president and the ceo of the american petroleum institutendustry. what do you think of the lease offerings? >> well, i think it was a missed opportunity, and the reason i say that is, what the president's proposal does is really just holds us constant with where we've been for many years in the past. he hasn't opened up any new lands on the atlantic, any new lands on the pacific. and as a factual matter, he hasn't really opened anything new in the gulf of mexico where we've been for, you know, 65 years. so, we think in this current game-changing opportunity, the need for job creation, we could have been bold. we could have had an energy policy for the united states to make us more energy self-sufficient. unfortunately, the administration missed that yesterday. >> although, jack, you could come back and argue that the price of oil has come down pretty drastically, down by $20 over the last few months and maybe there's not as urgent a need as there had been. >> well, i think the your jedgesy of the need is always there. we shouldn't look at th

the tax heading. >> quick questions? this one right back here. can you tell us your affiliation? >> brian johnson, american petroleum institute. when the math is figured out, a lot will rely on politics. we know that. and chairman camp put out a thoughtful tax reform proposal territoria territorial, last fall, technical discussion draft even. is it at all telling or discerning that when asked earlier chairman of the senate finance committee said he didn't know what chairman camp put out and doesn't think anyone does? >> i don't think he referenced it just to chairman camp's program. he talked about the commission that was created by president obama. he talked to a certain extent saying that members weren't knowledgeable about the details. i didn't think that was shocking. >> i would interpret it as just saying i'm not ready to come forward with my details yet. >> i thought of this because you mention that it's not related to your petroleum institute but it jogged by thinking. this is a long shot. it won't happen but the right thing to do. if we can get agreement which as of now we can't that we need a significant amount of reve

the strong support to of groups ranging from our military, the wildlife fund, american petroleum institute, the u.s. chamber of commerce. economic a facts, economic benefits of this year clear. first, it will ensure we continue to protect and maintain those shipping routes, but it is more than that. it will give our energy companies the certainty that they need to make critical investments to create jobs to help our telecommunication companies as they build and maintain undersea cables and they will secure our access are rare earth minerals which we need, for example, to make computers and cell phones. and importantly it will also help us urge other countries to sustained the support, sustainability cannot protect marine habitats and species, and to promote healthy oceans. already over 160 countries have signed on to the street. republicans and democrats alike have voiced their support for many years. everyone from presidents clinton and bush to secretary of defense leon panetta, a californian from the coast, james watkins, a great figure in my life, former chief of u.s. naval operations,

the tax heading. >> brian johnson from american petroleum institute to win the match this figure out it will be on politicse know that but the chairman without hopeful tax reform proposal is it telling lourdes inserting when asked earlier the chairman said he did not know what the chairman put out? >> i think it was referenced just to the program with the commission that was created by a obama and also davinci/rivlin that they were knowledgeable i did not think that was shocking. >> i interpreted it to say i am not ready to come forward with my details. >> he mentioned it jog my thinking review are from here is a long shot but it would be the right thing to do if we could get agreement that levy a significant amount of revenue it would be great of the tax reform process to get a tax on carbon new kudu's part of the results for deficit reduction part to offset as part of the deal for to help lower income tax rate. by an increasingly nervous about what will happen worldwide by our inability to deal with climate change wall what maybe more serious than our ability to do with fiscal issues. the fact that we do

the chamber of commerce stepped up. american petroleum institute did their part as well. many of the oil and gas companies stepped up as well. and with the coalition of environmentalists, business organizations, wildlife enthusiasts, we were able to get this significant bill passed. it's going to be a tremendous down payment for the challenge of the gulf coast. and let me for the record just put again, there were 86,985 square miles of water closed to fishing. approximately 36% of federal waters in the gulf were closed to fishing for months, causing a loss to the industry of $2.5 billion. 600 miles of gulf coastline were oil. half of those miles were in louisiana. and some oil is still lingering. in fact, the scientists that have been studying the baseline said that the erosion of the marsh that was oiled was eroding at twice the speed as normal and that normal erosion is pretty breathtaking in terms of its rate. we have lost basically the size of the state of rhode island in the last 50 years, and if our delegation is not successful in continuing to have victories like th