CNBC Press Releases

PALIN: HERE IN ALASKA OIL PRODUCTION IS SO SIGNIFICANT. ABOUT 85% TO 90% OF OUR ENTIRE STATE BUDGET IS BASED ON THAT BARREL OF OIL AND THE PRICE THAT IT DRIVES, AND OUR STATE REVENUE IS, AGAIN, SO RELIANT ON THE PRICE OF A BARREL OF OIL.FOR SUCH A GREAT PART ALSO ALASKAN JOBS ARE CONTINGENT UPON VERY AGGRESSIVE PRODUCTION OF OIL AND NATURAL GAS UP HERE IN ALASKA.SO --

BARTIROMO: AND PROBABLY THE LOWER 48 STATES.IT'S A RIPPLE EFFECT.

PALIN: ABSOLUTELY.AND ALSO THE RIPPLE EFFECT, MAY AS WELL TALK ABOUT THIS ALSO, ISOUR BELIEF TOO THAT AS MORE DOMESTIC SUPPLIES OF ALASKAN ENERGY FLOW INTO THE HUNGRY MARKETS, NATURALLY WE BELIEVE THE PRICE OF ENERGY WILL DIMINISH ALSO.IT WILL DECREASE, AND THAT WILL BE GOOD FOR THE ECONOMY AS A WHOLE.BUT VERY, VERY IMPORTANT TO THE ENTIRE U.S. ECONOMY.SPECIFICALLY HERE IN ALASKA, THOUGH.MY GOODNESS.IT IS WHAT DRIVES OUR ECONOMY.

BARTIROMO: SO HOW IMPORTANT ARE THE OIL AND GAS INDUSTRIES?BUSINESSES TO ALASKANS.

PALIN: VERY, VERY IMPORTANT.CONOCO PHILLIPS, EXXON, BP, YOU KNOW, WE BUTT HEADS QUITE A BIT WHEN IT COMES TO THE SOVEREIGNTY HERE OF OUR STATE.ALASKA IS SET UP UNLIKE ANY OTHER STATE IN THE NATION WHERE OUR STATEHOOD COMPACT ACT AND OUR STATE CONSTANT TOOUGS LAYS OUT FOR US WHO OWNS THE RESOURCES AND UNLIKE OTHER STATES IT'S ALASKANS, THE RESIDENCE WHO LIVE HERE WHO OWN THE RESOURCES UNDERGROUND.SO AS THEY'RE TAPPED, AS THEY'REPRODUCED, ALASKANS SHARE IN THE WEALTH THAT'S DERIVED FROM THE PRODUCTION OF THESE RESOURCES. SO THE OIL INDUSTRY, THEY'RE OURPARTNERS HERE. THEY HAVE THE LEASE IS THE RIGHT TO DEVELOP THE RESOURCES BUT ALASKANS OWN THE RESOURCES. SO THAT NATURALLY CREATES SOME TENSION IN WHO OWNS WHAT AND WHO CAN CONTROL WHAT. BUT OUR POSITION OF STRENGTH IN MY ADMINISTRATION WE KNOW IS OUR STATE CONSTITUTION THAT, AGAIN, LAYS OUT FOR US WHO ACTUALLY OWNS THE RESOURCES.THAT'S THE ALASKAN RESIDENTS. AND I WILL DO ALL THAT I CAN TO PROTECT THE ALASKAN RESIDENTS AS WE DEVELOP. BUT AT THE SAME TIME WE RECOGNIZE THAT THE BIG OIL INDUSTRY THAT IS HERE, THEY DO HAVE THE RIGHTS AND HAVE HAD THE RIGHT FOR MANY YEARS NOW TO DEVELOP THOSE RESOURCES FOR US AND WITH US.

BARTIROMO: HOW WILL YOU DO THAT? HOW WILL YOU PROTECT ALASKANS' HOMES, THEIR ENVIRONMENT? WHAT ARE YOU THINKING AS WE APPROACH THIS DEBATE WHERE ON THE ONE SIDE PEOPLE SAY DRILL, DRILL, DRILL, ON THE OTHER SIDE PEOPLE ARE SAYING LOOK, WE NEED TO KEEP THIS AREA PRISTINE?

PALIN: WE NEED TO DRILL, DRILL, DRILL.OTHERWISE, I CANNOT BELIEVE A DOMESTIC SOLUTION IS ANY PART OF A NATIONAL ENERGY POLICY IF THEY'RE NOT GOING TO LET ALASKANS DRILL ON OUR OWN LANDS AND ON FEDERAL LANDS WITHIN OUR OWN STATE. AND IF A DOMESTIC SOLUTION ISN'TPART OF A NATIONAL ENERGY PLAN, THEN OUR NATION IS IN A WORLD OF HURT, WE'RE GOING TO CONTINUE TOBE RELIANT ON FOREIGN DANGEROUS REGIMES TO FEED OUR HUNGRY MARKETS. I FIND IT IRONIC AND I FIND IT NONSENSICAL THAT HERE WE SENT SECRETARY BODMAN, WE EVEN SEND OUR OWN PRESIDENT OVERSEAS TO NEGOTIATE WITH THE SAUDIS TO ASK THE SAUDIS RAMP UP OIL PRODUCTION FOR US IN AMERICA WHEN, AGAIN, ABSOLUTE NONSENSE BECAUSE ALASKA HAS THOSE RESOURCES ALREADY AND WE SHOULD BE TAPPING THESE AMERICAN SUPPLIES BEFORE WE GO TO THE SAUDIS AND ASK THEM TO DO SO.SO VERY SIGNIFICANT HERE WHAT IS GOING ON. AND I THINK OUR NATION IS AT A CROSS-ROADS ALSO. WE'D EITHER BETTER BE MAKING DECISIONS TO ALLOW THIS AMERICAN SUPPLY OF ENERGY TO BE TAPPED ORWE'RE GOING TO BECOME MORE AND MORE BEHOLDEN TO THESE FOREIGN REGIMES. AND AGAIN, OUR NATION'S GOING TOBE IN A WORLD OF HURT WHEN YOU TALK ABOUT NATIONAL SECURITY, WHEN YOU TALK ABOUT EVER REACHING POTENTIAL TOWARD ENERGY INDEPENDENCE, IF WE CANNOT IMPLEMENT A DOMESTIC SOLUTION FOR THIS NATIONAL ENERGY POLICY.AND WE HAVE LACKED A NATIONAL ENERGY POLICY ALSO.WE HAVE NOT HAD A PLAN. ALASKA SHOULD BE A LEADER IN THIS PLAN BECAUSE WE HAVE THE CONVENTIONAL, THE NON-RENEWABLE SUPPLIES, THE PETROLEUM. WE HAVE THEM UP HERE. AGAIN, THE HUNDREDS OF TRILLIONS OF CUBIC FEET OF CLEAN NATURAL GAS, THE BUILDINGS OF BARRELS OF OIL. WE ALSO HAVE THE RENEWABLES ALSO.WE HAVE THE LARGEST TIDES ON THECONTINENT, WE HAVE THE GEOTHERMAL, WE HAVE THE WINDS.WE HAVE ALL THESE ALTERNATIVE RENEWABLE SOURCE THAT'S ALSO CAN BE TAPPED INTO AS WE WORK COLLECTIVELY AND COMPREHENSIVELYON AN ENERGY PLAN.

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