Stephen Moore joined The Crude Life to discuss energy’s role in the economy, specifically oil and gas.
Stephen "Steve" Moore is an American conservative writer and television commentator on economic issues. He co-founded and served as president of the Club for Growth from 1999 to 2004. Moore is a former member of the Wall Street Journal editorial board.
He worked at the Heritage Foundation during the period from 1983 to 1987 and again since 2014. Moore advised Herman Cain's 2012 presidential campaign and Donald Trump's 2016 presidential campaign.
Moore advocates tax cuts and other supply-side policies. Moore's columns have appeared in outlets such as the Wall Street Journal, The Washington Times, The Weekly Standard and National Review. Along with Larry Kudlow, Moore advised the Trump administration during the writing and passage of the Tax Cuts and Jobs Act. On March 15, 2019, President Donald Trump announced that Moore would be nominated to serve as a governor of the Federal Reserve. On May 2, 2019, Moore withdrew his name from consideration amid bipartisan resistance in the Senate.
Stephen Moore
So my name is Steve Moore. I'm an economist. I work at the Heritage Foundation and I'm an economic commentator for Fox News.
Jason Spiess
Oh, you are? Ok. We've had Robert Bryce on the program before. Who's, who's been a Fox business guest from time to time out of the Manhattan? Ok. Uh But first question is this your first time ever doing an interview in a vehicle?
Stephen Moore
No, actually it isn't. I remember I did some stuff with Glenn Beck in a vehicle. I did TV, in a vehicle. So maybe this is the first time doing radio. OK. We'll
Jason Spiess
see. Why are you in Fargo, North Dakota? What brought you here to
Stephen Moore
Fargo? Well, look, I think that what's happening here with the drilling revolution is such a testament to the power of ideas, the power of entrepreneurship, the power of ingenuity and American know how, and this is a revolution that has been really created by people who went out and had the fortitude to figure out how to crack the code, to figuring out how to get at this oil and gas that is so plentiful and bountiful in the state.
As I said in my talk out here, you know, it's the fracking and the industry that has really carried the rest of the US economy on its back for the last six years. Almost all the net new jobs have been in the oil and gas industry. And the irony of course, is that President Obama hates this industry and yet without this industry, we would still be in a recession. Virtually. I've made
Jason Spiess
the comment that this oil play is really a technology
Stephen Moore
play. No question about it. You're exactly right. Go on. Well, I mean, it is technology play. As I said in my speech, it's not as if the oil and gas just all of a sudden showed up here. It's been there for hundreds of thousands of years. It's just that we think through, you know, human ingenuity and stick to itiveness and, you know, people taking risk, they figured out how to get at this.
And that's really the whole story, the story of the energy revolution and anyone who think we're going to power our $18 trillion economy with windmills is smoking something we need our oil and gas and coal and nuclear power and we have a president who is hostile to these kinds of, you know, abundant energies. And so I think it's a shame because we can within five years become energy independent and not just energy independent, but energy dominant in the world.
We can be the Arabia of energy if we just had a president who wanted this to happen and didn't build every possible roadblock to. We need to loosen the grip of the EPA, we need to build pipelines, we need to allow drilling on public lands, we need. If you do those things, we can practically double our oil and gas output.
Jason Spiess
I noticed in your presentation today that two of the states that were doing very well over the past 5, 10 years, whatever the time period was, did not have a state income tax. And that came up in your presentation to the tune where you pointed it out.
Stephen Moore
Yeah. Well, look, there's nine states in this country that don't have an income tax. And those include Tennessee, Texas, Florida, New Hampshire, Nevada, Wyoming, South Dakota and North Dakota ought to become the 10th state in this country that doesn't have an income tax. And I feel very strongly about that you have the revenue source through energy to, to be able to eliminate your income tax and that will bring a lot of new jobs to this area in addition to the oil revolution.
So let's make North Dakota the 10th state in this country without an income tax. That's something I feel is an enormous benefit to the state in terms of helping lift all boats and making sure that everyone has an opportunity at least get the tax, get rid of the tax on wages and salaries that will give a pay raise to every worker in the State of North Dakota
Jason Spiess
to an entrepreneur, somebody who's got that capitalistic mind, what's the best way to get them to understand or to know what you're talking about in terms of the state income tax? Because that opens up discretionary dollars, that opens up travel money, that opens up idea money. You
Stephen Moore
want to tax people on what they take out of the economy, what they consume rather than what they put into the economy, which is the work and effort and risk taking and investment. So I've always believed the income tax is the worst kind of tax. And my research shows very unequivocally that, that's statistically true that states without an income tax create about twice as many jobs as states that do have an income tax, especially the tax states.
Now I come from a high tax state. I come from Illinois, but I also worked in New York. New York is one of the highest taxed states in the country. Look at what's happening in California, this great state of California is being taxed to death. They have the highest income tax on the rich and guess what people are leaving.
Jason Spiess
So, what's going on in Utah? That's your, that's your number one. I know they got some oil and gas play. There are more of a, I think gas play than oil. But yeah, I
Stephen Moore
think it's, you know, Utah just is a pro business, you know, and there's nothing wrong with being pro business, I mean, being pro business is being pro worker and you know, has a light touch of regulation, has very, fairly low taxes, good public services, good schools, it doesn't have high workers compensation costs, its property taxes are reasonable and the kind of culture of that state is pro enterprise and.
Click on picture for America’s Crate! Check out these Amazing American Environmental Entrepreneurs! Don’t forget that the promo code OTIS unlocks big big savings! MyStore.com and MyPillow
Submit your Article Ideas to The Crude Life! Email studio@thecrudelife.com
About The Crude Life
Award winning interviewer and broadcast journalist Jason Spiess and Content Correspondents engage with the industry’s best thinkers, writers, politicians, business leaders, scientists, entertainers, community leaders, cafe owners and other newsmakers in one-on-one interviews and round table discussions.
The Crude Life has been broadcasting on radio stations since 2012 and posts all updates and interviews on The Crude Life Social Media Network.
Everyday your story is being told by someone. Who is telling your story? Who are you telling your story to?
#thecrudelife promotes a culture of inclusion and respect through interviews, content creation, live events and partnerships that educate, enrich, and empower people to create a positive social environment for all, regardless of age, race, religion, sexual orientation, or physical or intellectual ability.
Sponsors, Music and Other Show Notes
Studio Sponsor: The Industrial Forest
The Industrial Forest is a network of environmentally minded and socially conscious businesses that are using industrial innovations to build a network of sustainable forests across the United States.
Weekly Sponsor: Stephen Heins, The Practical Environmentalist
Historically, Heins has been a writer on subjects ranging from broadband and the US electricity grid, to environmental, energy and regulatory topics.
Heins is also a vocal advocate of the Internet of Everything, free trade, and global issues affecting the third of our planet that still lives in abject poverty.
Heins is troubled by the Carbon Tax, Cap & Trade, Carbon Offsets and Carbon Credits, because he questions their efficacy in solving the climate problem, are too gamable by rent seekers, and are fraught with unreliable accounting.
Heins worries that climate and other environmental reporting in the US and Europe has become too politicized, ignores the essential role carbon-based energy continues to play in the lives of billions, demonizes the promise and practicality of Nuclear Energy and cheerleads for renewable energy sources that cannot solve the real world problems of scarcity and poverty.
Look at what’s happened to me.
I can’t believe it myself.
Suddenly I’m down at the bottom of the world.
It should have been somebody else
Believe it or not, I’m walking on air.
I never thought I could feel so free-e-e.
Barterin’ away with some wings at the fair
Who could it be?
Believe it or not it’s just me
The Last American Entrepreneur
Click here of The Last American Entrepreneur’s website
Studio Email and Inbox Sponsor: The Carbon Patch Kids
The Carbon Patch Kids are a Content Story Series targeted for Children of All Ages! In the world of the Carbon Patch Kids , all life matters and has a purpose. Even the bugs, slugs, weeds and voles.
The Carbon Patch Kids love adventures and playing together. This interaction often finds them encountering emotional experiences that can leave them confused, scared or even too excited to think clearly!
Often times, with the help of their companions, the Carbon Patch Kids can reach a solution to their struggle. Sometimes the Carbon Patch Kids have to reach down deep inside and believe in their own special gift in order to grow.
The caretakers of Carbon Patch Kids do their best to plant seeds in each of the Carbon Patch Kids so they can approach life’s problems with a non-aggressive, peaceful and neighborly solution.
Carbon Patch Kids live, work and play in The Industrial Forest.
Click here for The CarbonPatchKids’ website
Featured Music: Alma Cook
Click here for Alma Cook’s music website
Click here for Alma Cook’s day job – Cook Compliance Solutions
For guest, band or show topic requests, email studio@thecrudelife.com
Spread the word. Support the industry. Share the energy.
The Crude Life Podcast: Stephen Moore Explains the Energy Economy