JJC:    I intended to discuss what some would call the controversy... the debate surrounding the political push to end the moratorium on offshore drilling in this country... And, by the way, if you check out the story about this on page A3 of the Wall Street Journal, it's very clear that this issue is a political winner for John McCain... While, sadly, the front page of the New York Times also told us today that Obama is wetted to our food for oil, (ethanol supported program)...

We didn't stop using oil tankers just because of that one incident with the Exxon Valdez did we?... But one offshore oil spill, and we have spent four decades not taking advantage of our natural resources of our nation... which I believe are hugely abundant off both coasts.

It's not a political show, all right?... What this is about is technology... "new technology"... so, guess what?... things have changed... "new technology" has changed. The technology has now been developed by the United States of America to make the debate moot.

We may not have the technology for clean coal, but we sure do have the technology for clean drilling, clean pumping, and clean extraction... And practically every other country on earth, that has oil offshore, is using our technology, except us... because, of course, we're the most elitist nation on earth. We'll make the tech, but we only want other countries to get their hands dirty drilling for oil... and that's all they get dirty... their hands... not their lands. Because the technology we have invented is so effective and so clean...

In fact, it's probably cleaner to drill off our coasts and pipe in oil than it is to ship it in by tanker. I'd place more odds on another Valdez (tanker spill disaster) than on a reprise of the Santa Barbara spill. What happened then, frankly, just couldn't happen today.

This bill in 1969 that shut down our offshore drilling happened when Union Oil Co. was taking out a pipe from a well that created a huge change in pressure... one that Union Oil didn't compensate for by adding what is known as additional fluid, called drilling mud, down the well...

The pressure build-up on the Union Oil well led to a blowout that cracked the sea floor, and spilled about 3 million gallons of crude. The people who don't want us to drill are worried - and, look, I don't blame them - that this will happen again... but... the technology we have now, which I know because of the stock... I'm not a technology guru or an engineer. I just go where the stocks are and find out what they do... The technology right now is so much better at controlling and managing the pressure in an oil well.

We have new technology fluids and fluid handling systems that I talk about every night on this show. They would have compensated for the change in pressure... They would have prevented the blowout from ever happening.

We have better pipe sheathing. We have sub-sea trees that regulate all this... And now we have not just 3-D, but four-dimensional seismic technology... again, invented by us... that will tell us how a well's pressure will respond to drilling... which lets drillers determine the optimal amount of extra pressure they need to provide with this mud... meaning drilling fluid... so we can drill safely... cleanly...

Do you know we've even got robots that construct and maintain rigs. This is not a dirty, dangerous endeavor anymore. If it was, don't you think you'd hear about all the damage being done by other countries that are drilling offshore using our technology?... You'd think... considering that most other places are going full bore... that this would make the news, but I haven't heard anything about it...

I've got a place right on the (New) Jersey Shore... I want rigs, because I've seen the technology... I know it. We have the technology... which is a Six-Million-Dollar-Man (70s TV show) reference... And it looks like we have the political will, given how popular an issue drilling offshore is proving to be. We may not have the right politicians...

We could have as much as 18 billion barrels of oil, and 76 trillion cubic feet of gas offshore in areas where drilling is not allowed... that could make companies a lot of money... and put a lot of people to work, and make stockholders rich...

In fact, given our great new drilling technology, it could be much more than that... That's what we care about on this show... it's making you money. And, if we have the technology, and it's clean, let's make money off of it. It's why, every day this week, I'm going to focus on the "new technology" companies... not the ones that make the better video games that kill more people... the "new technology" that makes clean offshore exploring, drilling and producing possible... countries that are making fortunes already, everywhere else on the globe, but would make even more money, if we lifted the moratorium on offshore drilling.

By the week's end, you will know there is no controversy... just Luddites trapped in 1969 time warps, versus those who embrace and recognize American know-how to drill much cleaner than we ever could before.

The bottom line... again, not political... trying to make us money...

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