WEBVTT - Alaska Governor Talks JD Vance as VP Pick, Deregulating Energy

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>We're joined now by Governor Mike Dunleavy of Alaska. Governor

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<v Speaker 2>is great to see you, Thank you for joining us.

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<v Speaker 2>Great here in Milwaukee. We're all sweating a little bit here.

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<v Speaker 2>It's not quite a last weather.

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<v Speaker 3>I hope you're enjoying it so far. What do you

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<v Speaker 3>make of this pick? JD. Vance?

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<v Speaker 2>So many of us were surprised by it not being

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<v Speaker 2>a surprise name yesterday.

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<v Speaker 3>This has been something long in the works.

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<v Speaker 4>Oh well, I think I think the President is picking

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<v Speaker 4>somebody that will carry forth his agenda after he leaves

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<v Speaker 4>office and while President Trump is in office. Obviously JD.

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<v Speaker 4>Vance will be a close confidant to the president. He's younger.

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<v Speaker 4>That'll probably appeal to younger Americans. But I think, you know,

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<v Speaker 4>I have confidence in the President that he knows what

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<v Speaker 4>he's doing. I don't know JD that well. I know

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<v Speaker 4>he's a senator from Ohio, but hope you get to

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<v Speaker 4>know here in the future. Off the November fifth.

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<v Speaker 1>Well, he's only been a Senator from Ohio for about

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<v Speaker 1>a year and a half. He is a political newbie,

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<v Speaker 1>and I wonder as a sitting Republican governor. But you

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<v Speaker 1>think about the idea of a governor who has executive

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<v Speaker 1>leadership running one of the states in the United States

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<v Speaker 1>of America, why that selection may not have been made.

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<v Speaker 4>Well, keep in mind President Trump was not elected in

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<v Speaker 4>the office before he was elected president. And sometimes when

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<v Speaker 4>you get a perspective outside of government, and I've been

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<v Speaker 4>outside of government, I've been inside of government. Sometimes when

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<v Speaker 4>you get a perspective outside of government, you carry a

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<v Speaker 4>perspective of the people into government as opposed to being

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<v Speaker 4>a career government official, and you know, looking at the

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<v Speaker 4>world from that perspective. So I think that's what probably factored,

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<v Speaker 4>you know, at least partly into the decision by the

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<v Speaker 4>president bring.

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<v Speaker 2>Us your a unique perspective on energy coming from Alaska,

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<v Speaker 2>and what a Trump two point o would mean, because

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<v Speaker 2>the Biden administration is reminding us on the daily that

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<v Speaker 2>our output right now, we're pumping more oil and gas

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<v Speaker 2>than ever in the history of the United States. Yet

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<v Speaker 2>there seems to be this idea that Trump would be

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<v Speaker 2>friendlier to the energy sector than Joe Biden.

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<v Speaker 3>What would in fact change.

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<v Speaker 5>I think he will, I think of the luck for it.

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<v Speaker 4>Tell us specifically, I mean President Biden has called for

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<v Speaker 4>a moratorium on shipping gas overseats.

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<v Speaker 5>That's not going to happen.

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<v Speaker 3>Under President So that's lifted immediately.

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<v Speaker 4>Yeah, okay, in terms of anwar, which was the National

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<v Speaker 4>Whilife Refuge in Alaska on the North Slope where there

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<v Speaker 4>is oil in his gas. Under the twenty seventeen law

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<v Speaker 4>that was passed, those leases went up for sale. The

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<v Speaker 4>Biden administration illegally, and it is true it's illegally shut

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<v Speaker 4>those leases down. That'd be lifted, I believe under President Trump.

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<v Speaker 4>And then taking up upwards of thirteen million acres of

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<v Speaker 4>NPRA National Patrolling Reserve off the table for oil and gas.

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<v Speaker 5>I think that'll go back on the table.

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<v Speaker 4>President Trump was the best president in the history of

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<v Speaker 4>Alaska from my perspective. When I came into office and

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<v Speaker 4>I had my first meeting with President Trump, he said

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<v Speaker 4>to me, what can I do to help Alaska? And

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<v Speaker 4>that was every single meeting, and he probably did more

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<v Speaker 4>than any other president in the history of the state.

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<v Speaker 4>President Biden. Under his administration, there are approximately sixty five

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<v Speaker 4>actions by the federal government against Alaska, taking land off

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<v Speaker 4>the table for oil and gas exploration, closing down the

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<v Speaker 4>tongest National Force not going through with a land exchange

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<v Speaker 4>to help some of our indigenous people in King Kove

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<v Speaker 4>be able to get a road out so their people

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<v Speaker 4>don't have to fight weather with their planes.

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<v Speaker 5>The list goes on and on or not.

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<v Speaker 4>But under our president that we have right now, President Biden,

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<v Speaker 4>sixty five actions.

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<v Speaker 5>That's more actions against.

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<v Speaker 4>A state than the federal government has against places like Iran.

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<v Speaker 5>It's incredible if.

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<v Speaker 1>We could just continue the energy conversation for a moment longer.

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<v Speaker 1>What we have heard a lot from Donald Trump and

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<v Speaker 1>those close to him is this idea that it's just

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<v Speaker 1>deregulation on leasha American energy, if you will, and he

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<v Speaker 1>spoke of it to that idea. But when we think

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<v Speaker 1>about these oil and gas companies, which we're very familiar

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<v Speaker 1>with here at Bloomberg, they have to be incentivized to

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<v Speaker 1>actually spend their capital. Capital discipline has been the name

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<v Speaker 1>of the game for years. It's about we're turning it

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<v Speaker 1>to shareholders, not necessarily investing in new production in a

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<v Speaker 1>world that is trying to transition to green energy. So

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<v Speaker 1>beyond just deregulating, does more need to be done to

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<v Speaker 1>incentivize these business businesses? To actually drill more well in

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<v Speaker 1>places like.

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<v Speaker 5>Less truly deregulate. That is going to save money.

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<v Speaker 4>You won't have to spend as much money potentially on

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<v Speaker 4>permitting and a litigation. And to the concept of transition,

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<v Speaker 4>I really believe that that concept disappeared several months ago

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<v Speaker 4>with the advent of new chips from the video, the

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<v Speaker 4>Blackbell chip, the whole AI movement. You're going to need

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<v Speaker 4>three to six times as much energy as you have

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<v Speaker 4>now to power those server factories. So I think it's

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<v Speaker 4>going to be additionality, not transition. They're going to see

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<v Speaker 4>more discussion about additionality. More win than solar, more oil

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<v Speaker 4>and gas, more nuclear, more any type of energy possible.

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<v Speaker 4>And I think the locales and the countries that win

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<v Speaker 4>the energy war and that respect are going to win

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<v Speaker 4>the supercomputing in the AI world to war too.

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<v Speaker 2>If you were the energy secretary, and you can respond

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<v Speaker 2>to that as you want, how would you approach nuclear

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<v Speaker 2>This is something actually we talk about a lot on

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<v Speaker 2>Bloomer because of the incredible boom and data centers and

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<v Speaker 2>AI and the massive amounts of power required. We're talking

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<v Speaker 2>about now potentially opening data centers on the sites of

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<v Speaker 2>nuclear power plants.

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<v Speaker 3>What does the future hold form and nuclear?

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<v Speaker 4>You know, nuclear has had a troubled pass and unfortunately

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<v Speaker 4>some of the President Scott I think is unwarranted. There's

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<v Speaker 4>probably been fewer individuals killed or died as a result

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<v Speaker 4>of nuclear accidents and almost any other type of energy

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<v Speaker 4>put forward in terms of accidents. But if I were

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<v Speaker 4>the Energy Secretary, and we're dreaming here for a moment,

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<v Speaker 4>I would facilitate a consortium amongst states, among private industry

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<v Speaker 4>provinces in Canada and maybe other countries to come up

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<v Speaker 4>with a calendar, for example, on small nukes, to say

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<v Speaker 4>how many small nukes can we get in the hopper,

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<v Speaker 4>to permit to design, and to get a whole industry

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<v Speaker 4>set up behind creating new nuclear facilities across the country.

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<v Speaker 4>I think that's one of the things that the nuclear

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<v Speaker 4>industry wants is they want to know if we're going

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<v Speaker 4>to begin a process of creating a whole new industry

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<v Speaker 4>on small nukes, do we have the commitment to actually

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<v Speaker 4>fund those nukes, pay for those nukes, and cite those

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<v Speaker 4>nukes in various places.

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<v Speaker 5>So I think that would be a big stop.

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<v Speaker 1>Governor. I just picked up on the words you use there,

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<v Speaker 1>we're dreaming here? Are you saying that is another way

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<v Speaker 1>to say we're speaking hypothetically or because you actually do

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<v Speaker 1>dream of being Energy secretary?

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<v Speaker 5>No?

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<v Speaker 4>No, no, that was that was hypothetical. I'm just saying

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<v Speaker 4>for the moment.

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<v Speaker 1>Here, So Donald Trump offered you that job, Well.

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<v Speaker 4>I'd have to have discussions with the president, but you know,

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<v Speaker 4>I'm looking forward to working with the president, helping the

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<v Speaker 4>president and moving this great country forward and Alaska forward.

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<v Speaker 3>Have you spoken with him since Saturday?

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<v Speaker 4>I spoke with his campaign folks, and I sent him

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<v Speaker 4>a text. But you know, I also understand that after

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<v Speaker 4>such a traumatic moment, the President's going to need to

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<v Speaker 4>talk with his in a circle on his family more

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<v Speaker 4>so than folks.

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<v Speaker 3>Spond Was he texting over the weekend?

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<v Speaker 4>He was textually with some I got a text back

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<v Speaker 4>immediately from a campaign chair, So we're in contact.

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<v Speaker 3>Yeah.

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<v Speaker 1>Well, as we continue to grapple with the aftermass of

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<v Speaker 1>this week, and pretty much every person we have talked to,

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<v Speaker 1>elected official or otherwise has talked about how the tone

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<v Speaker 1>of this convention needs to be different. As a result,

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<v Speaker 1>much more toned down rhetoric, the lowering of the temperature

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<v Speaker 1>across the board more of a message of unity. And

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<v Speaker 1>I just wonder, given what you see in your state,

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<v Speaker 1>or just in your position as a governor, if you

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<v Speaker 1>see in America that is truly capable of that right now,

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<v Speaker 1>given how deeply rooted our division seemed to.

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<v Speaker 4>Be, I do I think what happened. Yes, they shook

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<v Speaker 4>everyone to the core. I really do believe that. And

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<v Speaker 4>I was on the floor yesterday on the convention, and

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<v Speaker 4>I did not pick up from anyone that there was

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<v Speaker 4>an attitude or atmosphere of vindictimness or quote going after folks.

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<v Speaker 5>Quite the opposite.

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<v Speaker 4>I think people were excited about the possibilities of another

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<v Speaker 4>Trump administration coming in here November fifth. The discussions were

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<v Speaker 4>very I think positive, And you know, I'm an individual

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<v Speaker 4>that doesn't really tolerate that type of talk, to be

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<v Speaker 4>honest with you, I'm not part of that, don't want

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<v Speaker 4>to be part of that. And I think I think

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<v Speaker 4>then I hope the country is at a point now

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<v Speaker 4>where we start to focus more on policies as opposed

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<v Speaker 4>to personalities.

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<v Speaker 2>Well, tonight's theme, today's theme crime and immigration. If there's

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<v Speaker 2>any one of these four days where the rhetoric could

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<v Speaker 2>get hot, where the red meat's going out the crowd.

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<v Speaker 2>I presume it will be today.

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<v Speaker 3>Do you agree?

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<v Speaker 5>Possibly?

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<v Speaker 4>Possibly, But I mean those two topics, crime and immigration,

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<v Speaker 4>I think are topics that are near and dear to

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<v Speaker 4>most Americans. Hearts, and we are a country of immigrants.

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<v Speaker 4>We are a country of immigrants. But I believe in

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<v Speaker 4>a strong wall with many doors. I believe that we

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<v Speaker 4>should have a strong wall in which we have immigration,

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<v Speaker 4>in which we're bringing people in this country that want

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<v Speaker 4>to be Americans are going to contribute to America. Unfettered,

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<v Speaker 4>wide open borders, I think is a catastrophe for any

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<v Speaker 4>sovereign in the world, especially this country. And in terms

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<v Speaker 4>of crime, I think over the last couple of years,

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<v Speaker 4>we've seen our cities burn, We've seen the homeless issue escalate.

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<v Speaker 4>I think it's problematic, and I do think a change

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<v Speaker 4>in administration will bring changes on the ground.

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<v Speaker 1>Well, it's interesting to hear you say this is the

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<v Speaker 1>governor of Alaska, which is perhaps furthest removed from the

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<v Speaker 1>southern border, at least in a physical senses as any

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<v Speaker 1>state can be. So what extent would you say this

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<v Speaker 1>is the dominant thought? Well, we know people that you governed.

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<v Speaker 1>Where is it a different issue.

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<v Speaker 4>We are far away, but unfortunately for Alaska, we've had

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<v Speaker 4>more depths per capita through fetanyl than any other state

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<v Speaker 4>in the country. Met fentanyl is coming through the southern border.

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<v Speaker 5>So just that.

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<v Speaker 4>Alone, if we can somehow impact that effect that in

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<v Speaker 4>a positive way to reduce that flow, it's going to

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<v Speaker 4>help Alaska, it's going to help every country in the

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<v Speaker 4>state in the United States, probably Hawaii as well, even

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<v Speaker 4>though Hawaii is in the Middle Pacific. But unfettered borders

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<v Speaker 4>doesn't help anyone. And as I mentioned, in Alaska's case,

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<v Speaker 4>the fetanyl coming of the border hurts us as well.

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<v Speaker 1>Is that so much a border issue if I could

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<v Speaker 1>ask you quickly, or is that actually a China issue

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<v Speaker 1>at the root?

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<v Speaker 5>How do we a combination of both? Probably a combination

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<v Speaker 5>of both.

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<v Speaker 4>But if you have a southern border in which there

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<v Speaker 4>are thousands in thousands and thousands of people coming over,

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<v Speaker 4>not checked, unfettered getting into the country, and you have

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<v Speaker 4>cartels in Mexico, it doesn't take you know, it doesn't

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<v Speaker 4>take a genius put two and two together that you're

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<v Speaker 4>gonna have some drug problems.

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<v Speaker 2>It's really interesting to hear that that's a long journey

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<v Speaker 2>from the southern border to Alaska, talk to us about

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<v Speaker 2>the path that it takes and the policy needed to

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<v Speaker 2>stop us.

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<v Speaker 4>Just the same way it's the Minnesota re main. You

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<v Speaker 4>could drive to Alaska, you have to go through Canada.

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<v Speaker 4>You can fly, you can mail it, you can take

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<v Speaker 4>it on ships. There's these people are very creative. As

0:10:34.679 --> 0:10:36.480
<v Speaker 4>a response to this, we just passed the bill that

0:10:36.600 --> 0:10:38.559
<v Speaker 4>I signed a week before I came to the Convention

0:10:38.960 --> 0:10:42.800
<v Speaker 4>that increased the penalties for dealing drugs that result in

0:10:42.840 --> 0:10:45.679
<v Speaker 4>a death to a second degree murder charge. Because we

0:10:45.800 --> 0:10:50.120
<v Speaker 4>have to get serious about this. Everybody knows somebody that

0:10:50.200 --> 0:10:53.720
<v Speaker 4>knows somebody that has been impacted by drugs. Everybody knows

0:10:53.760 --> 0:10:55.440
<v Speaker 4>somebody that knows somebody in which they may have had

0:10:55.480 --> 0:10:58.240
<v Speaker 4>a loved one that overdosed on some of these on

0:10:58.320 --> 0:11:00.920
<v Speaker 4>some of these drugs and cut short of promising lives

0:11:00.920 --> 0:11:03.440
<v Speaker 4>for these people. We've got to do something about it.

0:11:03.480 --> 0:11:06.240
<v Speaker 4>The border is part of that solution. Discussions with China

0:11:06.280 --> 0:11:07.440
<v Speaker 4>is part of that solution as well.

0:11:08.160 --> 0:11:11.000
<v Speaker 1>Of course, Senator jd Vance has a very personal history

0:11:11.120 --> 0:11:13.240
<v Speaker 1>with drug abuse in his own family as well. He

0:11:13.280 --> 0:11:15.319
<v Speaker 1>has talked about that openly. He did so again when

0:11:15.320 --> 0:11:18.360
<v Speaker 1>discussing fentanyl in his first interview after being named the

0:11:18.400 --> 0:11:23.000
<v Speaker 1>vice presidential nominee yesterday. As we consider policy that jd

0:11:23.120 --> 0:11:25.199
<v Speaker 1>Vance is likely to adopt, we've been describing him as

0:11:25.200 --> 0:11:29.840
<v Speaker 1>a populist, an isolationist, potentially just a newer, younger version

0:11:30.400 --> 0:11:34.640
<v Speaker 1>of Donald Trump. How do you see your party changing

0:11:34.760 --> 0:11:37.840
<v Speaker 1>as a Republican governor as we are not just considering

0:11:38.160 --> 0:11:40.880
<v Speaker 1>President Donald Trump, but potentially a vice president jd Vance

0:11:40.920 --> 0:11:42.200
<v Speaker 1>who is very very similar.

0:11:43.000 --> 0:11:43.200
<v Speaker 5>You know.

0:11:43.520 --> 0:11:48.520
<v Speaker 4>I think again time will tell exactly what the new

0:11:48.840 --> 0:11:53.080
<v Speaker 4>vice president nominee is really thinking on some of these issues.

0:11:54.440 --> 0:11:56.640
<v Speaker 4>I tend to know what President Trump is thinking on

0:11:56.720 --> 0:11:59.840
<v Speaker 4>these issues. The change is that you're referring to the

0:12:00.360 --> 0:12:02.920
<v Speaker 4>I don't know how big. I don't know how large

0:12:03.480 --> 0:12:05.640
<v Speaker 4>or big those changes are really going to be. I

0:12:05.640 --> 0:12:09.560
<v Speaker 4>think there's going to be some nuances and implementation. I

0:12:09.600 --> 0:12:13.840
<v Speaker 4>think there's going to be some emphasis on certain policy decisions.

0:12:13.840 --> 0:12:16.360
<v Speaker 4>But I don't know how great it's changed. I mean,

0:12:16.360 --> 0:12:18.240
<v Speaker 4>I think the Republican Party, this.

0:12:18.240 --> 0:12:20.559
<v Speaker 1>Isn't Mitch McConnell's Republican Party anymore.

0:12:20.600 --> 0:12:23.520
<v Speaker 4>Really, I think it's the America's Republican Party. I think

0:12:23.559 --> 0:12:25.679
<v Speaker 4>when Donald Trump came in, it became a party of

0:12:25.720 --> 0:12:31.319
<v Speaker 4>the people as opposed to elected officials, politicos, oligarchs, etc.

0:12:32.520 --> 0:12:36.400
<v Speaker 2>There are fifty thousand people here for this Republican National

0:12:36.480 --> 0:12:40.080
<v Speaker 2>Convention in Milwaukee. Most of them have never been to Alaska,

0:12:40.200 --> 0:12:41.719
<v Speaker 2>and I'm guessing will never go.

0:12:42.520 --> 0:12:44.920
<v Speaker 3>What do you want to know? What do you want

0:12:44.960 --> 0:12:46.000
<v Speaker 3>them to know about that?

0:12:46.280 --> 0:12:49.400
<v Speaker 4>Well, from an economic standpoint, Alaska's part of the solution

0:12:49.440 --> 0:12:51.800
<v Speaker 4>for America. We have the largest oil field in North

0:12:51.840 --> 0:12:53.960
<v Speaker 4>American conventional oil field in North America.

0:12:54.120 --> 0:12:54.800
<v Speaker 5>We have over one.

0:12:54.800 --> 0:12:57.640
<v Speaker 4>Hundred trillion cubic feet of gas that can help American

0:12:57.679 --> 0:12:59.960
<v Speaker 4>our Asian allies. We have forty nine of the fifth

0:13:00.080 --> 0:13:02.360
<v Speaker 4>the rare earths that could help the United States be

0:13:02.480 --> 0:13:05.320
<v Speaker 4>strategically independent of China. We have one seventh of the

0:13:05.320 --> 0:13:07.880
<v Speaker 4>country's timber. We have some of the largest fishing ports

0:13:07.880 --> 0:13:08.800
<v Speaker 4>in North America.

0:13:10.400 --> 0:13:11.640
<v Speaker 5>No, we're a bashing of freedom.

0:13:11.679 --> 0:13:14.200
<v Speaker 4>We're the only Republican state left on the West Coast,

0:13:14.720 --> 0:13:18.480
<v Speaker 4>and we take our freedom seriously. We're a Second Amendment

0:13:18.480 --> 0:13:20.800
<v Speaker 4>state on any other We have the highest per capital

0:13:20.840 --> 0:13:22.920
<v Speaker 4>of retired veterans in the state of Alaska. We have

0:13:22.960 --> 0:13:25.479
<v Speaker 4>admirals and generals that retire to the state of Alaska,

0:13:26.320 --> 0:13:28.320
<v Speaker 4>and that we are the fort for Alaska. We're only

0:13:28.320 --> 0:13:31.000
<v Speaker 4>two and a half miles from Russia, fifty water miles

0:13:31.000 --> 0:13:34.000
<v Speaker 4>from Russia. We have the Russians in our airspace that

0:13:34.040 --> 0:13:35.960
<v Speaker 4>we chase out on a continual basis. We have the

0:13:36.040 --> 0:13:38.400
<v Speaker 4>Chinese working their ships up through the Bering Strait, so

0:13:38.880 --> 0:13:40.600
<v Speaker 4>we are a strategic part of this country.

0:13:41.360 --> 0:13:43.240
<v Speaker 1>Great Governor, well, thank you for spending some of your

0:13:43.280 --> 0:13:45.880
<v Speaker 1>time here in Wisconsin with us. Maybe one day we

0:13:45.920 --> 0:13:48.200
<v Speaker 1>will see you in Alaska. That's Governor Mike don Levy

0:13:48.800 --> 0:13:51.200
<v Speaker 1>of Alaska, thank you so much for joining us.