tv Former Governor Jeb Bush R-FL Energy Policy Address CSPAN October 3, 2015 3:20pm-4:01pm EDT
recognizes our people's potential, and shepherds our nation and our nation's return to greatness. his presidency -- this presidency isn't about choosing the most charismatic president. to me, this presidency is about -- [laughter] >> you are all three of those. [laughter] [applause] this presidency is about choosing a candidate that believes in the people of this nation, that we the people have the potential of the work ethic to make our country great. since launching his candidacy, jeb has laid out a vision to perform washington, d.c., and will give the opportunity for everyone to realize their potential and live their dreams. he was to restore america's leadership in the world.
jeb's leadership as governor in florida were marked by tax cuts, growth, and an overhaul of florida's failing educational system. jeb believes in the people of florida. he gave the people the tools and the resources that they needed to succeed, and as a result, florida succeeded and florida prospered. as jeb's presidential campaign announcement -- at jeb's presidential campaign announcement, he said he will run with heart and he will run to win. rice energy is very excited to hear about jeb's plans for our future, including the all-important topic of american energy. so with that, please join me in welcoming jeb bush. fmr. gov. bush: thank you, you are very kind. [applause] fmr. gov. bush: thank you, all.
daniel.u, thank you. daniel, toby, and derrick, and ryan now has joined the team, where is ryan now? there he is, he is the good-looking one. [laughter] fmr. gov. bush: this is a great american success story, and i'm honored here that they have called me here. it is a great american tradition for families to stay together and in fact, it is quite common in the oil sector that this takes place, and this is an extraordinary, extraordinary company, and i am proud to be here. i want to mention toby for just a little bit because he is the second brother, and i always admired the second mother is in families, i don't know about you. [laughter] [applause] fmr. gov. bush: i think the guy is going places. [applause] fmr. gov. bush: this is a great
business that has taken an idea and invested in the idea, took concept,great american and applied technology in a way that has built a public business now that has created jobs, not just in this business, more than 300 jobs, what more suppliers now count on rice energy as their source for their livelihood. the energy sector in our country is perhaps the most value-added of any that exists. when people look at the economy, everybody marvels of the valley,neurs of silicon and there is much to appreciate there. people are reinventing the wheel and they are re-creating opportunities for people out on the west coast to read but the oil and gas sector have been the economic driver out here. even when you're under a president to has been trying to
push it down. i just read a study where 40% of all economic activity in 2008 was because of the energy sector in our country. 40%. if you look at how the wages go, it is quite a strong number. the energy business in this country creates two times the median wage of the communities in which they serve. and you also see the benefits of it and you also see the benefits of free enterprise system at work. if you look at horizontal fracking and drilling, these are two existing technologies. immigrant, by the way, in a private business through trial and error made it possible for people to realize the potential of this, and then the next generation of entrepreneurs have exploited this to create the possibility of us being energy secure with north american resources within five years.
it is an aspiration that is an aspiration that israel and i appreciate the entrepreneurship that makes this a reality. it is not just celebrating american entrepreneurship that makes it important, but it also means that we will have the lowest cost source of energy to outcompete with anybody. i am sick of people thinking that the chinese are eating our lunch. what we need to do is show that america can do this. [applause] fmr. gov. bush: i have laid out a plan to lift our spirits up a little bit. the new normal in america today is 2% growth. that 6 million people are living in poverty from the day that barack obama became president. 2% growth means that disposable income is down close to $2000 compared to the day that barack obama got elected president.
thatowth is the new normal you just have to get used to and that means that 6.5 million hard. are working workforce participation rates are lower than they were in 1977. why not aspire to a 4% growth? 4% growth means that money will and thatple's pockets people will be lifted out of poverty and that maybe people will start their own businesses or e able to grow their income because we are investing in the able to growbe their income because we are investing in the future of this country. 4% growth means that we lead the world, which is exactly what the united states should do. so how do you create 4% growth and rising income that goes along with it? we have a new tax code and i have a strategy to do that. corporate tax rate would expand what you make so
that you invest more and more, just as we need to do in this country. world in lead the creating a 21st century manufacturing sector with great workers, great innovation, and low energy cost, and low energy sources as far as the eye can see. if we did this, we would be stronger and our community would be renewing itself. we need to fix our regulatory system in this country. the mindnumbing rules each and every day from washington, d.c., thousands and thousands of new rules. the cost of regulation is $1.9 trillion on our economy. that is close to $15,000 per american family. that means we are not creating the kind of jobs that we need to have, whether it is obamacare preventing the creation of jobs, or whether the epa prevents you from creating jobs here in pennsylvania.
i read the other day that 50% of the entire landmass of pennsylvania will have to follow the epa rules with water use and they will have to give permits out for building everything. it is stoking, it is repressing, the ability for us to grow, and the energy sector faces perhaps the greatest threat, whether it the federalas were lands that exist and the waters where regulation makes it harder to lease on federal lands to be able to grow the economy. regulations need to be fixed and that gets us closer to the 4% scenario, but we need to embrace the energy revolution as well. [applause] so here is what
i believe. i believe we need to lift the ban on crude oil exports. it was designed in 1973 during a time when we had an oil embargo. it might have made since then, but i am not sure that it did, but it doesn't make sense now. we should sell our oil to the world for lower prices for us and for greater jobs in this country. not that band, it makes sense. lift that bad as it relates to exports. if it is not a free trading country, it takes forever to get a permit. there is gas right under where we are, ready to be exported. we can use it as a national security tool to deal with putin. we can lower energy costs if we are continuing to invest in our future. the first step is to lessen the barrier so that we can produce more. secondly, we need to create the industry or so we can get this
gas to market, whether it is in new england where we have subsidized fue oil, heavy, heavy, -- fuel oil, which is heavy carbon-based fuel oil. carbon feetreds of of gas that would not need to be subsidized at a lower price, and it is less carbon intensive and creating more jobs right here. this would help us to meet the refining capacity in the gulf coast. americaneash the experience on permitting so we can expedite permitting to be able to re-create far greater demand. we do not have a supply problem in our energy sector, do we? [applause] as president, i would expedite permitting to make that happen, and as president, i would approve the
xl pipeline, for crying out loud. [applause] fmr. gov. bush: let me get this straight, the xl pipeline is bad because, i am kind of thinking why? because it creates jobs in us toa, because it can north america for a greater energy strategy, that doesn't sell like a bad idea, it would connect america by train, it would create lower energy prices and allow the united states to be the pricer of crude oil incident having those exports go east or west rather than coming south, it creates a jobs here and it creates income here, and that sounds like a good idea. what the radical environmentalists don't know that it is not the right thing to do. i will support the xl pipeline and it makes sense for our country and it will create jobs here. [applause]
fmr. gov. bush: leases on federal lands and in federal waters have declined by about or to percent. even though there is great potential, we know that this is true. this is still a problem in washington dc -- washington, d.c. know that the next president wants them to do this in the right way. you can always find a proper allen's between the environmental good and the environmental necessity and economic progress. that should be the goal of the next administration, to allow americans to invest in their own dreams and yet to protect the natural environment. i did this is the governor of florida and we balanced both of these. that be excess -- be upset american entrepreneurialism creates jobs that you don't like
and don't impose your will on the rest of the country. america works. america works far better from the bottom-up rather than from up rathere bottom than from the top down. [applause] the finalbush: suggestion that i have is that there should be greater deference to the states. in this world where all the smart people in the age of obama reside in washington, d.c., the rest of us are kind of in all of their raw intelligence and their great capability to tell us how we are supposed to live our lives. we need to turn that upside down. the states should have greater deference. if virginia wants to allow federal waters off their coast to be developed because they believe that will help them grow their economy, then there should be some deference and recognition so that virginia
knows what is going on. toy know they don't want destroy their beaches and their natural environments. if alaska wants to do the same thing, then there should be some deference instead of imposing the well from washington, d.c. be people that are going to making these decisions actually might have practical experience in the real world. i apologize, but i believe that that is the best thing to do. [applause] so here is my: aspiration. that we can create one million american 21st century manufacturing jobs with the abundant source of energy that we have. we can continue to give the middle class in this country the greatest break they have had in the last six years which are lower gasoline prices and lower power generation and utility prices because that is the only good deal that they have had in the last x years. we can continue to do that in a
way that liberates oil and gas producers to be able to provide an be a source of abundant and low-cost energy. ete anyve we can out-comp country in the world, including china. we will create this growth that 4% and we will do it in a way that will create security. the one beautiful thing about a proper energy strategy is also a defense of the homeland. there are great threats in this world right now, whether it is russia trying to dominate europe by using its energy to lack male the baltics or the eastern europeans or even the western european countries or the sea lanes being challenged in the south china sea, the united be strong,s to and that means we need to grow our economy at a much faster rate. if we have food security and
energy security, no one will be able to outcompete the greatest country on the face of the earth. thank you all for coming. [applause] >> thank you. , we sat down last night and basically we were told we could ask you a couple of questions. i'm good ask a question on behalf of all four of us. fmr. gov. bush: i think russell roethlisberger
is going to come back pretty quick. [laughter] fmr. gov. bush: go ahead. has let the world because we are dynamic in the world doesn't work in a planned way. we don't plan it all out really well. we respond to opportunity and that is how we succeed. we are a 10 steps forward, five steps back, three steps forward, two steps back, we are not just marching how we should be told and just get in a line. we are totally horrible at that. the small business sector is the one that has been hurt by all of these rules on top of every aspect of human endeavor. it starts in washington, but frankly, some states have also imposed major rules on top of everything. i mean, to start a business in california, you've got to pay $800 to start, and then you have to pay it every year after every year.
a lot of businesses start with borrowing money from crazy uncle grandand he gives you 10 and you're out just killing it, trying to do your best, and if you have to pay $800 for an occupational license fee or tax and then you've got to pay another tax and then you got to pay the excuse me for living attacks, and then you have to go to washington because there is a higher health care cost because of obamacare and the system that we have, then we've got to figure a way to clean this up. you guys are just ready to learn about this as a public company. it makes it harder. scale is not the definition of a successful business and it shouldn't be but in fact, america is becoming more and more that way. the incumbents don't mind when dodd-frank imposes all of these rules on every borrower. they don't care.
there have only been two banks formed in the last six years in america. two new banks. there is a reason for that. so complicating regular life and shifting responsibility to the state level and recognizing that there should be an economic benefit for every rule that should be imposed, i believe we ought to have a regulatory budget in washington so it it is like what the u.k. has done. every dollar of cost, there should be no increase in regulation, and we ought to have a sunset review of all rules to have a spring housecleaning to be able to shed some of the rules that people may have had 30 or 40 years ago. so putting men and women in positions of responsibility who actually understand the business, the industry that they are regulating, and don't have a political agenda, and actually want to have a balanced view between protecting the water or the air or the workforce
environment and the economic impacts businesses bring a, bring in common sense to washington. look, i am 62 years old, and i know i look of y-- a lot younger than that, right? you told me i was charismatic, right? [laughter] fmr. gov. bush: we lead small business growth for eight years, .e led 1.3 million in new jobs we cut taxes by $19 billion in we created a field of dreams and people pursue their dreams in florida more than other places because of it. what i have been in the private sector for 33 years and in the government for nine, and the private it's your -- and the private sector experience is what i want to bring to washington. this experience is one that i
think is more relevant in many ways with what is wrong with washington. they only hang out with the big dogs. they only hang out with the big companies. they'll he hang out and interact with lobbyists and their lawyers and the accountants. the small businesses don't have access to that and they are being heard by all of this. that's all i got! >> good answer. [laughter] [applause] this question is from derek who is the pessimist in the rice family. regulation affect business in the role of the world? fmr. gov. bush: it may sound counterintuitive if you export crude, some people say well, we should import it. the net result of that is that refiners get higher margins and gasoline prices are higher. exporting crude actually lowers costs at home.
counterintuitive, but if you talk to the experts, they will say unanimously that that is the case. so it is good for consumers, it is good for people working because everytime you create a new product, whether it is gas or liquids or oil, you are creating a new opportunity to grow your business, right? and then you can grow your own business and you provide more for the suppliers of rice energy. wholandowners of the people were leasing you the properties are able to buy pickup trucks and able to provide for their child's education and saving their money so their kids can go to the university of their choice. they are doing all of the same things that they want to do whether -- do rather than being told what they should do. not only the
business but the entire community in which they are serving. and frankly, it also is a national security issue, so it is going to get cold here pretty soon. not here, but in estonia and in poland and in germany and in romania and if you look at the heating necessities of europe, it gets really cold there. where do they get their gas? by and large, they get it from the russians and the are basically held hostage and they can be blackmailed. gasp from -- gasprom controls the prices. -- it is likeke to be a ukrainian and to have russia control the gas prices. alternative to natural gas. they need one that is cheaper and cleaner and our natural gas is significantly less carbon-intensive than a russian natural gas and we are more
committed to attracting the environment more importantly, --s would be in our natural national security interest to show support for our nato allies. when we need them, they are not good to be there if we are not on their side. we should have a north-south corridor door across eastern europe using american national -- natural gas. when it thing applies relates to asia. there is no reason why this cannot be an effective tool for us. this is a wonderful intersection of high wage, high growth, high job growth economies where we benefit because we are energy secure. when we lower our energy prices, we use this as a national security tool around the world. we are just not exploiting this to the fullest extent possible. [applause] look at this guy
right here. that is a heck of a picture right there. [laughter] fmr. gov. bush: is that them taking pictures of me? [laughter] fmr. gov. bush: the third question comes from the more sensitive brother, the youngest brother, ryan. fmr. gov. bush: how can he be sensitive? is, how can your reform plan -- [laughter] fmr. gov. bush: my dad is an aggie so i am an aggie. i went to the, university of texas, but frankly because my dad's library is at texas a&m university, i love it there, that is why i gave him a warm embrace. [laughter] is,o the question from ryan how would your energy plan affect workers and their families here in pennsylvania? fmr. gov. bush: every reduction
of a rule that creates economic benefits and achieves social good, i am not suggesting unregulated the world, what i am suggesting is common sense, 21st century rules that allow progress to go forward, which means more money in your pocket, plain and simple. that is it. every dollar that we extract from cost and creating possibilities for workers and businesses creates money in people's pockets, and we haven't had that. we have had 6 million more people in poverty and we have declining income for the great middle of this country. disposable median income is down $2000 since the day barack obama obama became president, and it has created massive uncertainty in the confusing rules and the cost of the rules that businesses have to share with their workers. that is it. plain and simple.
same with health care. every time you have a well intended idea -- and obamacare is well intended, i sure -- it imposes fees and problems on businesses and employees and their employers have to share more costs. this means that your take home pay is ultimately going down. so the best kind of rules are the ones that protect whatever it is you are trying to protect, but at the lowest possible cost so that people have money in their pockets. let me give you an example, because i know that your success is making environmentalist minute -- environmentalists miserable. not the regular ones, but the liberal ones. this allows us to spend money on your company while protecting wild america. in florida, we generated revenue to allow us to have the largest land purchasing programs in the
country to protect pristine florida. we began the process of seriously trying to restore the everglades, and incredible treasure for our country. up waterd on cleaning bodies, not just florida's, but others. if we didn't do that, we wouldn't have the resources to protect the natural environment. there has to be a win-win. it has to be common sense regulation and not this kind kind of finger licking deal that makes people feel kind of bad. that aree suppliers dependent upon your business now love you, too. you are creating wealth and prosperity for yourself but for thousands of other people as well. that is what america should be celebrating. we are the marching band, for crying out loud. this is what we should be doing. [applause]
and i hope your stock price goes up, too. [laughter] fmr. gov. bush: because that is american capitalism, right? at its best. the right are going way, you know, praise jesus. i get fired up when i see examples because this is what separates us from the rest of the world. one other point about how we should be proud of this country, there are places where shale exist in other parts of the world, right? i mean, it is all over. argentina has a massive amount of shale and russia has it and andpoles and the germans the brits have shale. where else other than the united states has it worked? nowhere. it is only in america. why is that? risks, note, we take
crazy risk-taking, but we risk more. we also have private property rights embedded, embedded in our dna. i was watching the men and women who do the leasing for the business. that is a robust market that only exist in america. only in america do private landowners have the extent of freedom that they do in this country and that creates a dynamic energy sector because as prices go down, leases go down, and you create opportunities that you guys can create advantage of. it is uniquely american. have uniquely american to trial and error and to try something and if it doesn't work to adjust it and try again. world do you the get this kind of dynamic sponsors? we should stop trying to default and getting in line and being told by washington, d.c. of what to do. this is who we are.
this is what makes amerixca -- extraordinary. we will just released the animals of america and we will be america again. [applause] fmr. gov. bush: breach -- preach! i'm feeling like i am at the pulpit! it is like a tent revival meeting. [laughter] >> so the last question is on that last point you made about the 4% growth. the rate the economy is growing is at 2%, you say it can grow at 4%. why do you think it can be done? fmr. gov. bush: because it has done so in the past, but it has to have the right policies. if you impose all of these rules on all of these businesses, you are not going to grow by 2%. if you have the most complicated tax code in the world, you are not going to grow by 4%.
levy give you an example. we have this tax code called inversion. asmall, foreign business buys large american business to consolidate their activities in that other country because of corporate tax rates are lower. we have the highest tax rates in the industrialized world. the effect of this is that we lose jobs and the government loses revenue and people lose income. and the way that these businesses operate have a mean that- operates they have a diminished partner and they lose part of their economic vitality. in my tax proposal, i said, and it is because we have worldwide income as kind of our driver, where is the cfo? not your head if -- nod your head if -- nod your head if i'm correct. there is $2 trillion overseas that does not come back because
it would be taxed at an onerous rate. what i percent -- what i present and to move back to a territorial source of taxation which every other country has. if you did that, you would have hundreds of billions of dollars invested in enterprises across the country, creating higher-wage jobs. if you fully capitalize all capital investment within the first year, you are going to have an explosion of productivity, and we are rebalancing from wall street to main street, in effect. where leveling out the playing field so that the heartland of our country and the industrial side of our economy can begin to grow and prosper. everybody else does better when that happens. so fixing our tax code, fixing the regulatory system, embracing the energy revolution in our midst, as you all have heard
today, ask any broken immigration system that is right now a drain on our system and could be a huge catalyst for sustained economic growth. we can protect our borders and make it clear that coming here legally is easier than coming here in legally, and pick who we want to have as new americans, you would grow the economy at a far faster rate. there is no doubt about that. really with the structural deficit problems with our entitlement challenges, we need to preserve and protect our entitlements for those who have them, but we need to make sure that we have reforms for the whole system so that next generations can achieve it. you can grow the economy as far as the eye can see. we will be the leader of the world. as far as we are, we will be the leader of the world. i will close with this because people are deeply pessimistic about the future of the country. people on the left in the right talk about how bad we are. unocal uni there a p probably at the end of some of these debates. here's the deal. you open up the entire world and
you say, if you've got a one-way ticket, you can pick where you want to live. i wonder who would win that? we would win it. we would win it going away. we would win it 1000-1. we would win it because this country is still the beacon of freedom, it is still the hope for the world, this is the greatest country on the face of the earth. and if we start acting like a, we will be it. it is that simple. so thank you all very much. you continued success. we love you very much. [applause] >> thanks, jeb. thanks very much. ♪
donald trump: thank you very much. what a crowd. they still have lines of people outside and they have tilt up this door to door already -- door-to-doorp already. this is amazing. but i will see the closed circuit folks. should i do that? just came out, usa, as you know, the usa suffolk, which is a highly respected poll, and we are doing great. [applause] we are up by 10 points above everybody else and it is just incredible and i think we might even be better than that.
but who knows, right? even if we win by one point, that's ok, that is not too bad. we hadther one, currently at 10%, ted cruz is at 7%, and that is pretty good right, because we are 36-12, and that isis 41-14, and with jeb. how did jeb get in there? mike huckabee come a good guy that he has got 7%. alwayss say this, but it gets finalized, i thought i did good in the debate even though i was being asked to many questions. the funny thing is, for two hours, they were asking me question after question. the questions were either to me or about someone else. not a goodmp is person, what do think about that?"
i was steady their likeness, and in the final 40 minutes, they couldn't ask any questions. it was embarrassing. i even apologize and they said donald trump decided to take off in the last part and i'm saying that they made it from two hours to three hours, which is ridiculous, but they said that he didn't talk. they didn't ask me any questions! to be rude,n't want i don't want to interrupt other people. so the polls came out in the votes, that80,000 is through drudge, who is an amazing guy, and it said donald trump got 51%, he won, carly had 23%, marco at 7%, and ted cruz at 6%. the time magazine poll, and
time magazine has trouble winning. -- trump winning. myself, and they say trump is ok, not great. to they were just trying beat me up. and i think we are doing well. and the important poll that came out a couple of hours ago. so i want to thank everybody in the room and the other rooms that are filled up who we'll see in a little while -- [cheers and applause] mr. trump: new hampshire, an amazing state. a friend of mine from new york said what are people from new hampshire like? they are an amazing -- just amazing op