During the climax of Friday’s Fox News’ special Paying At The Pump, former Alaska Governor Sarah Palin finally revealed what was being held in Eric Bolling‘s much-ballyhooed top secret manila envelope which held Bolling’s solution to energy prices.
Since March, Bolling has pleaded to President Obama to reach out to him about his ideas for reducing the price of gasoline, even giving out his phone number on the air during Fox & Friends in hopes that the Commander-in-Chief would give him a ring to discuss his “silver bullet” solution.
“So…the solution…” Bolling announced.
“You know a little bit about this, don’t you, Eric?” Palin interjected.
“I’ve had 20 years experience in the trading world in oil and gas…” Bolling noted. “Can we bring in the top secret…”
Suddenly a security guard brought out Bolling’s top secret envelope encased in a bulletproof suitcase.
“We have a top secret silver bullet here,” Palin observed. “We are criticized, I know I am, for preaching all the time, drill baby, drill. Well, this goes beyond drill baby drill!”
“If I could ask you to open — to reveal the envelope so I can step away and put this around,” Bolling instructed Palin.
Palin finally opened the envelope, and the cat was out of the bag.
“Top secret…In addition to drill baby drill,” Palin clarified.
Bolling spun his chalk board around which read, “RAISE ENERGY MARGIN REQUIREMENTS, ALL ENERGY TRADED ON EXCHANGE.”
“It doesn’t replace drill, baby, drill, Governor,” Bolling explained. “It’s in in addition. Raise energy trading margin requirements. All energy has to be traded on an exchange. Bear with me. It’s a little technical. The reason why so many billions of barrels are traded…is because the banks can trade it. People are allowed to trade it for little or no money down. At some point, Goldman Sachs decided they want to buy oil barrels it pushes the price up. If they sell them in the same day, they don’t have to put a penny up to do that trade. It’s a free trade for them. If they want to hold it overnight, sometimes they will pay up to $2,000-$3,000 on a contract that is worth $100,000. So governor, this we need to make this equation a little bit more even. We need to bring this bowl down to something more reasonable.”
Watch Palin open Bolling’s top secret envelope below via Fox News:
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