GLENN: Joe, I asked you to find for me the -- Stu, you're not going to believe this. You are not going to believe this.
I asked you to find for me the story so I just made sure that I had it backed up, of the companies that were you in drilling in the gulf and 50 miles off the shores of Key West. Okay? We're 50 miles off the coast of Key West. China and India are drilling.
Now, Joe, tell me again exactly what you told me right -- you're not going to believe this. He didn't even finish the sentence and I almost -- bloodshot out of my eyes! Go ahead, Joe. Tell everybody what you just told me.
Joe: The stories about Russia -- excuse me -- about China and India drilling 50 miles off the coast of Florida are building drilling did he recollect Ricks there, they call it slant drilling which means not only could they tap into the natural gas and oil into the Cuban outer Continental Shelf, but it would also allow them arguably to drill into our natural gas that legally would be --
Glenn: Slant drilling which I believe should be racist if you're doing that with China, but slant drilling, they can take the oil from underneath us and, yet, we're not doing a damn thing about it. This is -- I can't take it anymore.
Stu: What's amazing about this, too, Glenn is this is the same sort of technology they want to use in an war so they don't stop. So, you obviously know they're going to be disturbing the environment. In Anwar they can drill hole and drill all under the bottom there. Fantastic.
Glenn: This is absolutely incredible to me. Everyone I talked to this weekend, everyone I talked to said, I can't do it anymore. I don't know what -- I mean, I don't even know what to do. May I ask you a question, America? How are you doing it? How are you taking your kids to ballet, to karate, to, you know, Little League, to soccer? How are you running them to Boy Scouts, Cub Scouts, to the church on Sunday, to school, back and forth? Most stay at home moms are not at home. They're usually in the car shlepping the kids. How are you affording it anymore?
I fill my car up twice a week because I -- because I commute. My commute is so huge. My commute is three hours a day. So, with my commute I am now spending about $800 a month just on gas. My total gas bill just for my vehicles is $1,400 a month. Stu, how much is your gas bill? You -- by the way, Stu takes mass transit. His wife drives quite a distance, but he takes mass transit. You drive 2 miles a day to get to the train station. How much is your gas bill?
Stu: We're approaching a thousand dollars a month, which is by the way, more than I was paying in rent as of 2002.
Glenn: My father said to me, because he's in his own business and he said, Glenn, my gas bill is now approaching the top line of all of my expenses. He's an insurance guy. I said, Dad, it's going that way with everyone. Gas is going to be the top line expense with everyone.
I mean, food is not magically going up because of, you know, oh, gee, it's hard to, you know, make a bagel now. Food is going up because of fuel. Fertilizer, fuel, delivery, ethanol, all of the things that Congress has done and do you know what I've been saying for awhile? Stu, are you with me yet when I say --
Stu: . Here we go.
Glenn: Are you with me yet when I say this country is disenfranchised. You've been with me on that one for awhile.
Stu: Sure, sure.
Glenn: The people in Congress are not listening to us.
Stu: 13 percent approval rating of Congress.
Glenn: They're not listening.
Glenn: Are you with me yet that if we continue down this path, if we continue down the path of -- they're debating cap and trade. It's going to cost $1.50 more per gallon. This is what they're working on, cap and trade.
Glenn: Now, it's not going to pass this time around, but you watch because all three, all three presidential candidates are for cap and trade, which will add $1.50 per gallon for your gasoline. The EPA estimates it will take 1.1 to $2.8 trillion out of our GDP. 70 percent of our GDP is consumer spending. That means to take $2.8 trillion out of the GDP it means that you have $2.8 trillion or about, what, 70 percent of that, 1.5, $1.8 trillion less to spend. It means it stops you from spending because you don't have any money left and this is what they're doing. I'm telling you. Pitch forks are coming.
Are you with me that if we continue down this road, pitch forks are coming?
Stu: Not at all. Look at these things, Glenn. These things are generally seen at popular by the people. They are not informed enough to know and this is because of the media. The media doesn't discuss the costs of these things. So, people --
Glenn: Stu, Stu.
Stu: -- haven't even considered them yet.
Glenn: When people find out -- and do you know what?
Stu: When do they find out?
Glenn: They will find out because you cannot control information anymore. You can't control information. Listen to me.
Stu: They do a good job of it right now.
Glenn: Do you know what? Because we're fat and lazy, what was -- what was it I told you before September 11th, when we were all fat and lazy and everybody was talking about technology and I said, I warn you, I warn you, what were the elements that I said? Do you recall at all?
Stu: I'm sure when you say them, but you told me a lot of things. Most of them I've tried to forget.
Glenn: I told you all you have to do is create fear and hunger.
Stu: Yes, you've definitely said that.
Glenn: Fear and hunger. We've got fear. The war is going. You've got fear. You're creating hunger now. When you put hunger into this, because people are not afraid of -- by the way, is anybody in television going to announce this is the lowest casualty rate of the entire war? This last month the lowest casualty rate of the entire war. Oh, it's a quagmire, isn't it?
Stu: Unreal. But that's what I'm talking about.
Glenn: But wait a minute. See, that doesn't matter. It doesn't matter. People aren't seeking out that information. They're going to seek out the information about gas because it affects them. Food prices, it affects them. The media can say whatever you want, but when I say to you China is 50 miles off the coast of Florida building a platform right now along with India, building a platform that includes slant drilling, so it's 50 miles off our shores, they're taking the oil from Cuba's property and they're also slant drilling into our property or they have the capability of doing that and we are not drilling on our own property, people will say enough of it.
Stu: I mean, but -- this is the problem here with this. You're right. They will say enough of it, but when they get that information, it's going to be coming, I hope, from sources that can be trusted, but you look at these things, Glenn. There's so many of these -- we're still fighting about tax -- we're still fighting about universal health care.
Glenn: Listen to me. Listen to me.
Stu: The information isn't getting to the people.
Glenn: Universe sat health care, because universal health care is too complex for people to understand.
Stu: So is cap and trade. Intentionally, intentionally.
Glenn: Yes. Cap and trade is. Drilling for your own resources is not. The shale in Colorado is not. I mean, we're going up for the oil sands up in Canada. They're doing it with the oil sands. They won't let us take shale. Listen. Here's what you need to know. In 2007 congressional democrats led an effort which became law to prevent the department of interior from enacting new rules for commercial oil shale leases until at least October 2008. The republicans in May this year tried to get around it saying, okay. Can we stop this? Let's go after the shale. Well, they didn't do it. They didn't go after the shale. The democrats are still saying, no, no, no. The mountains are too important. Put the mountain back. Coast off of Florida and California, President Clinton, no, no, no. Cannot drill anything off our shores until 2012. Here is what's at stake: The outer continental shelf moratorium, the at LAN tack ocean, the outer continental shelf moratorium, Pacific Ocean, outer continental shelf moratorium, Gulf of Mexico. And even a congressional ban on doing an analysis of the resource potential for oil and gas in the Atlantic, Pacific and the eastern gulf. We can't even say can we look into it. Congress has said no. Then the Anwar. Back in 1995 President Clinton vetoed it. It is 700 miles away from a tree. 700 miles away from a tree.
Oil, when he vetoed this, was $19 a barrel. He said we didn't need the oil that much. New technology was right around the corner and it would be until 2007 until we got the oil. So, it was going to take us way too long. Now oil is -- let me see here -- $125 a barrel, up from $19 a barrel. We would have been pumping that oil out now. They say, well, there's not that much oil to get, yet. Here's a solution in the paper: Try this solution. See if this doesn't make blood shoot out of your eyes. This is quite possibly my favorite solution. Ready? They don't want to go into Anwar. No, that's not go in Anwar. Let's not go off of our own chest. Let's set China do it but not us. Let's not go in and take the shale in the mountains. Let's go to the take coal. We're three times the size of Saudi Arabia in coal to oil, three times. We're going up to Canada and buying it from them, but we won't do it ourself. Here's a solution. Are you ready? Empty out the strategic petroleum reserves. Empty out the strategic oil reserves. It's now holding 700 million barrels of oil. That's nothing to sneeze at. We're at war in the Middle East. Empty out the strategic oil reserve? Are we intentionally trying to destroy ourselves?
By the way, if you go to buy a new car, if you go to buy a new car, it's going to cost you about $2,000 extra. Now, why? We're having a hard time selling cars. Detroit is having problems. Why would cars go up $2 -- I mean $2,000 per vehicle? Because the trains are overloaded, because we can't afford to ship products by air anymore, because the airlines are becoming obsolete, the airlines cost too much money to ship things. So, people think, well, I'll just ship it by train. Well, now the Chicago -- the backlog on the trains in Chicago is so enormous, it's costing $2,000 extra per car to get it onto a train.
By the way, the airlines, they announced last week, the people who sell the jet fuel to the airlines, the airlines are in such precarious positions for the first time ever, they're being told, by the way, you have to pay cash for everything. We used to have a -- they had a 20‑day turn around. They would give you the jet fuel and the airlines had 20 days to pay it off. That means the people who are selling the airlines' fuel think they're not good for 20 days. They want cash.
We are in a precarious situation and what is Congress doing today? Cap and trade? Something that -- to protect the environment? I'm telling you, I don't know how much carbon torches give off, but the environment is going to weep one of these days because I think Americans are going to light torches and grab pitch forks and head to Washington and tell these clowns, get the hell out! But maybe it's just me. What do I know?