Detailed text transcripts for TV channel - FOXNEWS - 20110511:06:22:00
Look at this. 1970. 9 million-barrels a day 1986, 9 million. declining slope all the way to 2008. we lost nearly 43% of the total production. joining me now to make sense of this, former shell oil president mr. john hoffmeister. we had the energy secretary steven chu tell us $8 gasoline is a good thing to get us off the dependence on oil. we have mr. bromwitch running the minerals management service and he has no idea the production in the gulf. what is with the obama administration? is it selective fuzzy math? what are they up to? >> when i retired from shell, the last thing i said to the boa...