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weeks as far as the oil price movement is clearly because of the issues in iran and not because demand going up over the holidays, it's right. it's a futures issue and if the energy market sees that more supply is going to come on, naturally, price is going to go down and i think, generally, that's going to be a good effect on gas prices in america. >> you know, though, i wonder, i tried to get this out of governor huntsman, but adam to the point, is there a point where the republicans or should there be, maybe i'm talking to the wrong guy, there is some environmental consideration, where you would put a limit on tapping oil. in other words, where the need to protect our environment, trumps whatever, the systems and new jobs he gets. and would there-- the republicans just seeing the environmental ground and saying it's dot, dot, dot? >> again, it becomes an issue of governing, it was nixon who did so much to promote the epa and a sitting republican president, of course, would do that when push comes to shove.
producers of the world have some excess capacity to produce that at other times they might not have had and they have expressed a willingness to do that if there is a large supply disrupti disruption. i'd say the one thing to remember if in your mind you're thinking the 1970s is that our energy intensity per dollar of gdp is a lot lower now than it was then. so most people think that we -- the macroeconomy is less sensitive to oil price movement, but it's clearly something we're monitoring. >> well, you just got in macroeconomy, look at you. >> and the '70s. >> it's because of you guys. i know you love that stuff. >> austan goolsbee, chairman of the council of economic advisory board, thanks very much. thank you for making your first stop this morning on "daily rundown." >> great to see you again. coming up next, brace yourself, everybody. we're going to let chuck suggest what to put in today.