dan dicker, he's the author of "oil's endless bid." i want to talk about why this is a bad argument because despite the fact your appearance on this show refuting it happened last week, people are still making it which i can't make heads nor tails of. but, quickly, it's amazing to me this guy from the coal state is saying, frack more, drill everywhere, which is killing coal in kentucky. >> unless rand paul wants to see exxon or chevron become state-run entities, you have to do something that's profitable in order to get them to do it. and transporting lng to europe is so intensely unprofitable. it looks like it should be profitable, and it might be right now, but the chances of the expense that you're going to take on to try and build these export plans and then finally get to a market state seven or eight years down the road -- >> yes. >> -- where it works, and you can make this money back over the course of time, nobody wants to do this.
would begin drilling in every possible conceivable place within our territories in order to have production that we could supply europe with if it's interrupted from ukraine. >> joining me now, oil trader dan dicker, author of "oil's endless bid." i want to talk about why this is a bad argument because despite the fact your appearance on this show refuting it happened last week, people are still making it which i can't make heads nor tails of. quickly, it's amazing to me this guy from the coal state is saying, frack more, drill everywhere, which is killing coal in kentucky. >> unless rand paul wants to see exxon or chevron become state-run entities, you have to do something that's profitable in order to get them to do it. transporting lng to europe is so intensely unprofitable. it looks like it should be profitable, and it might be right now, but the chances of the expense that you're going to take on to try and build these
interrupted from ukraine. >> joining me now, oil trader dan dicker, author of "oil's endless bid." i want to talk about why this is a bad argument because despite the fact your appearance on this show refuting it happened last week, people are still making it which i can't make heads nor tails of. quickly, it's amazing to me this guy from the coal state is saying, frack more, drill everywhere, which is killing coal in kentucky. >> unless rand paul wants to see exxon or chevron become state-run entities, you have to do something that's profitable in order to get them to do it. transporting lng to europe is so intensely unprofitable. it looks like it should be profitable, and it might be right now, but the chances of the expense that you're going to take on to try and build these export plans, and then finally get to a market state seven or eight years down the road -- >> yes. >> -- where it works and you can make this money back over the
>> the keystone pipeline must be approved. the more oil and natural gas the usa and canada can produce and distribute the weaker russia becomes on the world stage. >> how do you say "drill, baby drill" in russian? joining me now, sam seder, host of "majority report" and dan dicker author of "oil's endless bid." you work in the hydrocarbon markets. you've been a trader on those desks. this critique, the argument coming from the right which is you have to drill more and that will reduce -- that will disempower putin. what do you make of it? >> absurd. the russians do have a major control, major influence on most of eastern europe through natural gas. but we have to distinguish between natural gas -- which is a gas -- and crude oil which is a liquid. if you want to move a liquid from one place to another, you put in the a dixie cup and you can move it any way you like. natural gas has two ways of being transported, one is through pipelines.
would skew the political system. if our political institutions were perfect they would absolutely prevent the political domination of money in any part of our affairs. there are not a few public men who, though they would repel with indignation an offer of a bribe. >> in other words, terry roosevelt was worried about what we just saw today. even though we have something everyone agrees is bad policy. when it comes down to brass tax, we can't get rid of it. why can't we get rid of it? you're looking at it. teddy roosevelt's nightmare come true. >> joining us now, dan dicker, author of "oil's endless bid." he is a trader with 25 years
you're looking at it. teddy roosevelt's nightmare come true. >> joining us now, dan dicker, author of "oil's endless bid." he is a trader with 25 years trading experience. >> call me dan, chris, as you always do on your own show. >> dan, can we start with a really basic question. every time i report on this and look at corporate profits, it's more profitable than just about anything else. >> $130 begin last year alone. >> why is it so profitable? why is extracting oil from the ground and selling on the market so profitable? my econ 101 instincts tells me it's not a competitive market and if it were, the profits would go down. >> no. it's cheap to get. the old picture of the oil spewing out with everybody dancing around, this is $2 a
long time, does all of the fact-free politicking on this subject ever do anything constructive, or is it all just nonsense and a distraction? >> it's nonsense, but people will listen to this, because gas prices hit everybody pretty much equally. i think the president has a serious political problem here. whether it has basis in fact or not, people are going to be looking for relief and they're going to be looking for a scapegoat. and that's why the republicans have made a political issue out of this nonsense and it is nonsense. >> but the truth should prevail, and if you are making truth, that should work. >> let's hope. >> dan dicker, cnbc contributor, the book is called "oil's endless bid." dan, thank you for being here. will you come back sometime? >> certainly. >> thank you very much. right after this show, lawrence o'donnell has chris hayes and melissa harris-perry, score and score. don't miss that. and here, remember the axis of evil? it's back. ah, at least here it's back. that's next. h us. [ ding ] oh, that's helpful! well, our company does that, too. actually, we invented that.
democratic nonsense. drill, baby, drill. drill, baby, drill. in a year when gas prices really are high, and that really could have an impact on the election, it might be time to ask somebody who actually knows about this stuff whether or not we have any chance at all of the politics around energy getting even marginally less stupid anytime soon. joining us now is dan dicker, he is a cnbc contributor. he's the author of the book "oil's endless bid." he's an energy analyst with more than 25 years oil trading experience. mr. dicker, thank you for being here. >> thanks for having me, rachel. >> is there any substantiative reason why biofuels, alternative energy, algae, why these things would be more hilarious as a democratic idea in 2012 than as a republican idea in 2008? >> no, absolutely not. the peak oil guys, i think, have gotten the timing of this incredibly wrong, but their basic thesis is right. this is a limited resource. at some point, we have to develop something other than fossil fuels, at some point. sooner would be better than later, but at some point we have to do that.
not, people are going to be looking for relief and they're going to be looking for a scapegoat. and that's why the republicans have made a political issue out of this nonsense and it is nonsense. >> but the truth should prevail, and if you are making truth, that should work. >> let's hope. >> dan dicker, cnbc contributor, the book is called "oil's endless bid." dan, thank you for being here. will you come back sometime? >> certainly. >> thank you very much. right after this show, lawrence o'donnell has chris hayes and melissa harris-perry, score and score. don't miss that. and here, remember the axis of evil? it's back. ah, at least here it's back. that's next.
prices hit everybody pretty much equally. i think the president has a serious political problem here. whether it has basis in fact or not, people are going to be looking for relief and they're going to be looking for a scapegoat. and that's why the republicans have made a political issue out of this nonsense and it is nonsense. >> but the truth should prevail, and if you are making truth, that should work. >> let's hope. >> dan dicker, cnbc contributor, the book is called "oil's endless bid." dan, thank you for being here. will you come back sometime? >> certainly. >> thank you very much. right after this show, lawrence o'donnell has chris hayes and melissa harris-perry, score and score. don't miss that. and here, remember the axis of evil? it's back. ah, at least here it's back. that's next. just wanted to check and make sure that we were on schedule.