TRANSCRIPT: ABC News' Jonathan Karl Interviews Speaker of the House John Boehner

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JONATHAN KARL: But they're makin' money off us. I mean we saw the-- the-- I'm sure saw that the former CEO of Shell Oil came out and said that the company-- they don't need these subsidies.

SPEAKER JOHN BOEHNER: I don't think the-- the big oil companies-- need to have the oil depletion allowances. But for small, independent-- oil and gas producers-- if they didn't have this-- there'd be even less exploration in America then there is today.

JONATHAN KARL: So would you be in favor of seeing some of these subsidies that are going to big oil at times of record profits--

SPEAKER JOHN BOEHNER: It's--

JONATHAN KARL: --and--

SPEAKER JOHN BOEHNER: --certainly something that we oughta be looking at.

JONATHAN KARL: Of doing away with these subsidies?

SPEAKER JOHN BOEHNER: We certainly oughta take a look at it.

JONATHAN KARL: I-- I mean--

SPEAKER JOHN BOEHNER: We're in a time when-- when the federal government is short on revenues. We need to control spending but we need to have revenues to keep the government movin'. And they oughta be payin' their fair share

JONATHAN KARL: Well, the President's proposed doing away with eight-- eight different subsidies. This would be about $4 billion a year. You-- you think that's worth doin'?

SPEAKER JOHN BOEHNER: I think we gotta take a look at it.

JONATHAN KARL: And-- and-- I mean when you say take a look I mean--

SPEAKER JOHN BOEHNER: I mean--

JONATHAN KARL: --you--

SPEAKER JOHN BOEHNER: --I wanna see the facts. I don't wanna hear a bunch of political rhetoric. That's look at the facts. And what will it do to have-- its impact on jobs. You know, the number one issue in my district and around the country is where are the jobs? And I wanna know what impact this is gonna have on job creation here in America.

JONATHAN KARL: You know, it seems like we've been talking about oil prices, about gas prices. Every-- every time there's-- the-- there's-- there's a supply blip--

SPEAKER JOHN BOEHNER: Of course.

JONATHAN KARL: --go-- goin' back to the '70s and-- and before, why is it that Congress hasn't been able to actually do something? I mean you-- you've been there 20 years. I mean what-- why--

SPEAKER JOHN BOEHNER: The house has passed dozens of bills to expand energy production in America. The Senate has passed only a few. But the President's made clear, he doesn't wanna-- he doesn't wanna sign any of these into law. We're gonna have-- bills comin' out of the Congress here next month. We're gonna send 'em to the Senate. Let's see what they do.

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