Detailed text transcripts for TV channel - MSNBC - 20110331:20:39:00
Presidential finding. press stories, that there is one, i have no idea. >> let's talk about the strategic importance of oil on the planet right now. how valuable is it strategically now and how does that mess with our lives? >> it is vital. oil dominates about 96% of transportation around the world. and opec has something approaching 80% of the world's petroleum reserves. we have 3%. so it takes -- and it costs them a few dollars a barrel maximum to lift oil, say in saudi arabia. it costs us tens of dollars a barrel. and we are borrowing over a billion dollars a day in order to pay for both si...
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