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About inflation, concern about deficits in our future, concerns about printing more money. they're going to safe havens, whether it's gold or other commodities. >> neil: john watson, thank you very much. >> thanks for having me, neil. >> neil: john watson, chevron ceo in washington, one of the featured speakers today. talk about a guy that's really ticked off at this session today, the shell president, also at the senate hearings today, among those getting lambasted today. my exclusive chat with him on fox business exclusive less than two hours from now. you don't get it. anyway, the housing v...

>> neil: all right. i guess what a lot of guys are asking, making all that money you certainly don't need any tax breaks, don't need tax subsidies to hunt for that oil. what do you think? >> what we need is tax treatment that's comparable to what other companies receive. our effective tax rate last year was 41%. so we do pay considerable amount of taxes around the world. chevron's tax bill last year was about $13 billion. we pay royalties and other fees on top of that. we pay our fair share. that was the message i tried to get across. >> neil: the fact that you have support from the oddist of ...

Enforcement, as quoted by the "wall street journal," putting the total as of two yesterday. chevron was granted this third one today. that is since the bp oil spill. so not a dozen, but the three as i suggested. that is, again, from the bureau of ocean energy management, regulation and enforcement. didn't sound right to me, but i wanted to make sure i checked a reputable source. that's what we have, deep water drilling since the gulf oil spill, the number of permits that have been granted. three, not a dozen. all right, well, kill as many americans as possible. strike on significant dates. d...

Selective at what you look and don't like, as is the president. go ahead with wind, solar, these batteries, whatever the hell they are, but by all means tap the oil we have here. >> and that's happening. we're producing more oil domestically than we were in -- >> neil: you just heard a guy who would sit on a dozen different contracts if he could get the clearance to get them through. he can't. >> neil, we just had the worst oil blowout ever in the history of the united states. >> neil: you're going to use that as an excuse ad nauseam. >> let me finish. don't treat me like an oil company witnes...