BARTIROMO: OKAY.LET'S TALK ABOUT JOBS AND SORT OF THE IMPACT OF DRILLING AND OFOPERATIONS THERE. HOW SIGNIFICANT?
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.
BARTIROMO: SO AS A NATION WE NEED TO BE DOING EVERYTHING?
PALIN: WE NEED TO BE DOING EVERYTHING, AND PEOPLE NEED TO BE REALISTIC ALSO. AND THIS IS ALSO WHAT KIND OF SCARES ME ABOUT BIDEN AND OBAMA ALSO, IS IT SEEMS TO BE ALMOST A NAIVE NOTION OF THEIRS THAT WE CAN AUTOMATICALLY JUST JUMP RIGHT INTO A RENEWABLE SUPPLY OF ENERGY TO FEED HUNGRY MARKETS ACROSS OUR NATION WHEN THESE RENEWABLES ARE NOT YET PROVEN TO BE ECONOMIC NOR RELIABLE. WE'RE GOING TO BE IN A TRANSITION PERIOD FOR QUITE SOME TIME WHERE WE'RE GOING TO HAVE TO CONTINUE TO BE RELIANT ON CONVENTIONAL SOURCES OF ENERGY AS WE'RE WORKING ON THE RENEWABLES, AND WE CERTAINLY HAVE TO HEAD IN THAT DIRECTION ALSO. BUT IT'S GOT TO BE DOING EVERYTHING, EVERYTHING THAT WE CAN TO ALLOW THE DOMESTIC SUPPLIES, RENEWABLE AND NON-RENEWABLE, TO BE TAPPED, SOLUTIONS PLUGGED IN FROM BOTH THOSE ENDS, AND NOT JUST SKIP THE OIL AND THE GAS DEVELOPMENT AND THE COAL DEVELOPMENT ALSO THAT WE HAVE TO HAVE AS PART OF A COMPREHENSIVE PLAN. IT'S NAIVE TO THINK WE CAN GO RIGHT TO RENEWABLES AND THINK THAT'S EVER GOING TO WORK FOR OUR NATION TODAY AT THIS TIME.
BARTIROMO: AND YOU CAN CATCH MORE OF MY EXCLUSIVE INTERVIEW WITH SARAH PALIN ON "THE WALL STREET JOURNAL REPORT" THIS WEEKEND.WE DID AN HOUR-LONG INTERVIEW. IN MY COLUMN IN "BUSINESSWEEK" MAGAZINE FOR A SECOND INTERVIEW WHICH I CONDUCTED ON WEDNESDAY. MY THANKS TO GOVERNOR SARAH PALIN AS WELL AS THE VICE PRESIDENTIAL CANDIDATE FOR JOHN McCAIN. AND PLEASE JOIN US FOR OUR SPECIAL ONE-HOUR PRESENTATION, "THE HUNT FOR BLACK GOLD" PREMIERING WEDNESDAY, SEPTEMBER 24th. "THE HUNT FOR BLACK GOLD" THE REASON I FIRST WENT TO ALASKA TO TALK TO SARAH PALIN ABOUT OIL INALASKA AND WHERE THE OIL IS IN THIS COUNTRY."THE HUNT FOR BLACK GOLD" AIRING WEDNESDAY, SEPTEMBER 24th.
BARTIROMO: WELL, YOU JUST HEARD PART OF MY INTERVIEW WITH SARAH PALINTHE GOVERNOR OF ALASKA, AND JOHN McCAIN'S RUNNING MATE TO BE VICE PRESIDENT. I WENT TO ALASKA TO ASK HER ABOUT ENERGY, BUT I ALSO ASKED HER WHETHER JOHN McCAIN CONTACTED HER TO BE THE VP. LISTEN TO THIS.
PALIN: MY SON, HIS STRYKER BRIGADE -- HE'S IN THE U.S. ARMY, HE'S 19 YEARS OLD. HE'S A KID. HE'S A GOOD AMERICAN KID SERVING IN THE ARMY FOR THE RIGHT REASONS. HIS STRYKER BRIGADE WILL BE DEPLOYED SEPTEMBER 11th.THAT'S COMING UP HERE SHORTLY.AND I THINK, AGAIN, IF WE'RE FIGHTING AT ALL OVER FOREIGN SUPPLIES OF ENERGY WHEN DOMESTICALLY AGAIN RIGHT HERE IN ALASKA WE HAVE THE ENERGY SUPPLIES THAT COULD AS WE PROGRESS WITH MORE DEVELOPMENTS REPLACE SOME OF THOSE SUPPLIES WE BETTER NOT BE AT WAR OVER THIS CAUSE I AM A MOM AND MY SON IS GOING OVER TO IRAQ AND I WANT TO MAKE SURE THAT WE HAVE A PLAN THERE.
BARTIROMO: PALIN HAS FIVE CHILDREN AS YOU JUST HEARD ONE OF THOSE CHILDREN IS GOING TO IRAQ ON SEPTEMBER 11TH HER YOUNGEST HAS DOWN SYNDROME AND THAT'S WHY SHE IS ALSO EXPECTED TO TALK ABOUT PRO-LIFE WHEN SHE SPEAKS NEXT WEEK AT THE CONVENTION. HERE'S WHAT SHE SAID WHEN I ASKED HER IF JOHN MCCAIN ASKED HER TO BE VP. SHE SAID THEY HAVE SPOKEN A NUMBER OF TIMES. THE ENTIRE INTERVIEW CAN BE SEEN ON CNBC.COM.
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