CNBC Palin Interview

From CNBC:

EXCLUSIVE INTERVIEW AIRED TODAY DURING CNBC'S "CLOSING BELL WITH
MARIA BARTIROMO"

WHEN: Today, Friday, August 29th at 4:30PM ET
WHERE:  CNBC's "Closing Bell with Maria Bartiromo"

Following is the unofficial transcript of a CNBC EXCLUSIVE interview
with Vice Presidential Candidate and Governor of Alaska, Sarah Palin on
CNBC's "Closing Bell with Maria Bartiromo."  During the interview with
CNBC's Maria Bartiromo, Palin discusses ANWR, drilling, oil and jobs and
energy independence, among other topics.

The full interview will air this weekend on CNBC's "The Wall Street
Journal Report with Maria Bartiromo."  Video of the interview is also
available at CNBC.com.

All references must be sourced to CNBC's "Closing Bell with Maria
Bartiromo."
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BARTIROMO: WELCOME BACK TO A SPECIAL EDITION OF "THE CLOSING BELL."
SARAH PALIN KEPT A LOW PROFILE WHILE GOVERNOR OF ALASKA, AND FEW IF ANY
PLACED HER AT THE TOPOF THE LIST OF POTENTIAL RUNNINGMATES FOR SENATOR
JOHN McCAIN. ALL THAT CHANGED TODAY.
THIS WEEK I TRAVELED TO ALASKA  AND I INTERVIEWED SARAH PALIN IN AN
EXCLUSIVE INTERVIEW FOR CNBC. NOT ABOUT THE PRESIDENTIAL RACE ONLY BUT
HER STATE'S ROLE IN THE COUNTRY'S ENERGY DEBATE. AND I ASKED HER IF JOHN
McCAIN CONTACTED HER.

PALIN: ECONOMICALLY SPEAKING, THOUGH, IT'S ABOUT 20% OF THE U.S.
DOMESTIC SUPPLY IS -- OF ENERGY IS PRODUCED UP ON THE NORTH SLOPE. SO
VERY, VERY SIGNIFICANT ECONOMICALLY.PHYSICALLY, THANKFULLY, TINY LITTLE
FOOTPRINT.

BARTIROMO:  SO YOU'RE SAYING IT'S A TINY LITTLE FOOTPRINT, ACTUALLY THE
OPERATIONS IN PRUDO BAY, BUT PEOPLE THINK OF IT AS SO EXPANSIVE AND SO
MASSIVE THAT IT'S GOING TO HAVE A MATERIAL EFFECT IF IN FACT WE WERE TO
SEEDRILLING THERE ON THE WILDLIFE AND ON THE COMMUNITY.

PALIN: WELL, ANWR AT THAT POINT IT'S ABOUT 2,000 ACRES THAT IS BEING
ASKED TO BE LOOKED AT AND TO BE EXPLORED AND TO BE PRODUCED. 2,000 ACRES
OUT OF 20 MILLION ACRES. THAT FOOTPRINT, IT'S ABOUT THE SIZE OF L.A.X.
OR ONE OF THE LARGER AIRPORTS ACROSS THE NATION. AND THAT SHOULD ALLOW
SOME PERSPECTIVE THERE ALSO. BUT YOU KNOW, NO ONE, I THINK, BUT ALASKANS
CARE MORE ABOUT OUR WILDLIFE, ABOUT OUR CLEAN WATER, OUR CLEAN AIR, THE
PRISTINE ENVIRONMENT THAT WE ARE BLESSED TO LIVE IN AND GET TO BREATHE
IN EVERY SINGLE DAY. NO ONE BUT ALASKANS WILL CARE MORE TO MAKE SURE
THAT WE ARE PRESERVING THAT PRISTINE ENVIRONMENT THAT IS ANWR, THE
COASTAL PLAIN, PRUTO BAY, ALASKA AS A WHOLE. AND WHEN YOU ASK ALASKANS
DO YOU AGREE TO ALLOW DRILLING TO TAKE PLACE ON THE NORTH SLOPE,
SPECIFICALLY HERE WE'RE TALKING ABOUT ANWR, DO YOU WANT TO SEE THAT
HAPPEN? AND WITH ALASKANS' LOVE AND CARE FOR OUR ENVIRONMENT AND OUR
LANDS AND OUR WILDLIFE, ALASKANSARE SAYING YES BECAUSE WE BELIEVE THAT
IT CAN BE DONE SAFELY, PRUDENTLY, AND IT HAD BETTER BE DONE ETHICALLY
ALSO.YES, WE WANT TO SEE THAT DRILLING. SO HOPEFULLY THE REST OF AMERICA
CAN UNDERSTAND THAT ALSO. YOU GO DOOR TO DOOR AND ASK ALASKANS IF WE ARE
READY AND WILLING TO PRODUCE MORE AND CONTRIBUTE MORE TO THE U.S. AND
THEY'RE GOING TO TELL YOU YES.

BARTIROMO: PRESIDENT BUSH TRIED THIS A NUMBER OF TIMES UNDER HIS WATCH.
WHY IS IT WE HAVE BEEN UNABLE TOGET THIS DONE?

PALIN: I THINK THERE'S BEEN A LOT OF MISCONCEPTIONS AND MISPERCEPTIONS
ABOUT WHAT ANWR IS ALL ABOUT AND UP ON THE NORTH SLOPE WHAT THE
ENVIRONMENT ACTUALLY IS UP THERE. YOU SEE PICTURES, YOU SEE VISUALS FROM
THE NAYSAYERS, THE CRITICS OF THE IDEA OF OPENING  ANWR, AND THE
PICTURES THAT THEY'RE SHOWING ARE MOUNTAINS AND -- POLAR BEARS.

BARTIROMO: POLAR BEARS.

PALIN: LOTS OF DIFFERENT WILDLIFE. THEY'LL SHOW MOOSE IN A STREAM WITH
MOUNTAINS IN THE BACKGROUND.THAT'S NOT ANWR. AND AS YOUR PEOPLE GO UP
THERE ALSO AND ACTUALLY GET TO SEE FORTHEMSELVES -- AND WE'VE HAD A LOT
OF CONGRESSMEN AND CONGRESSWOMEN COME UP HERE THIS SUMMER EVEN TO SEE
FOR THEMSELVES WHAT ACTUALLY IS ANWR, WHAT WOULD BE TOUCHED HERE IN
TERMS OF LANDS AND WILDLIFE, THEN THEY SEE THAT THOSE VISUALSTHAT HAVE
BEEN SHOWED AMERICA FOR ALL THESE YEARS ARE INACCURATE.THOSE ARE NOT THE
PICTURES OF ANWR. THERE AREN'T MOUNTAINS UP THERE,FOR INSTANCE.SO I
THINK THERE'S A LOT OF MISPERCEPTION OUT THERE ABOUT WHAT THE PLAIN
ACTUALLY LOOKS LIKE.AND THE VISUALS ARE VERY IMPORTANT TO AMERICANS. I
DO THINK, THOUGH, THAT AMERICANS ARE RECOGNIZING MORE AND MORE IT'S
EVIDENCED IN THE PRESSURE THEY'RE PUTTING ON CONGRESS AT THIS POINT, THE
CONSTITUENTS PUTTING ON CONGRESS, MORE AND MORE AMERICANS ARE
RECOGNIZING IT IS TIME TO RAMP UP AMERICAN SUPPLY OF ENERGY, ESPECIALLY
WE'RE A NATION AT WAR, A LOT OF THE ISSUES THAT ARE SO ADVERSELY
AFFECTING AMERICA ARE BASED ON ENERGY SUPPLIES AS WE'RE RELYINGON
FOREIGN SOURCES OF ENERGY TO FEED OUR HUNGRY MARKETS, MORE AND MORE
AMERICANS ARE RECOGNIZING YOUR SISTER STATE UP IN THE ARCTIC, ALASKA HAS
THESE SUPPLIES. WE HAVE TRILLIONS OF CUBIC FEET OF CLEAN NATURAL GAS. WE
HAVE BILLIONS OF BARRELS OF OIL STILL SITTING UNDERGROUND, IN A SENSE
BEING WAREHOUSED.IT'S TIME TO UNLOCK THESE RESERVES AND ALLOW
COMPETITORS TO COME IN AND COMPETE FOR THE RIGHT TO TAP THOSE RESOURCES
AND START FLOWING THAT ENERGY INTO THE DOMESTIC MARKETS THAT ARE
SOHUNGRY SO THAT WE CAN BECOME LESS RELIANT ON FOREIGN SOURCES OF
ENERGY. AS MORE AMERICANS RECOGNIZE THAT, MORE AMERICANS, IBELIEVE,ARE
CHOOSING TO EDUCATE THEMSELVES ON WHAT ANWAR IS REALLY ALL ABOUT.

BARIROMO: FOR SURE.AND I GUESS THIS YEAR THERE WAS A PRICE AND ONCE
THERE WAS A PRICE THAT WAS ACTUALLY REACHED IT WAS -- PEOPLE GOT IT.

PALIN: YEAH. I BELIEVE SO TOO.

BARTIROMO: LET ME GET YOUR THOUGHTS ON REALLY THE CONSEQUENCES.WHAT THEN
ARE THE MAJOR CONSEQUENCES OF DRILLING IN ANWR? I WAS READING A PIECE
EARLIER THAT SAID, LOOK, IT WILL IMPACT THE BREEDING OF CARIBOU, THE
BREEDING OF POLAR BEARS.GIVE ME YOUR SENSE.WHAT ARE THE CONSEQUENCES?

PALIN: WELL, LET'S LOOK AT LESSONS LEARNED OVER THE LAST 30 YEARS WHEN
THE TRANSALASKA OIL PIPELINE WAS FINALLY ALLOWED TO BE BUILT AND THERE
WERE THE THREATS THEN AND THE FEARS THAT THE CARIBOU HERDS WOULD
DIMINISHAND DIE OFF. NO, THE CARIBOU HERDS ARE ACTUALLY THRIVING.
THEY'RE FLOURISHING. THERE HAVE NOT BEEN THE ADVERSE IMPACTS ON THE
CARIBOU HERDS.SO WE ANTICIPATE THE SAME THING AS WE TAP MORE ENERGY
SUPPLIES UP ON THE NORTH SLOPE IN ANWR AND AS WE BUILD A NATURAL GAS
PIPELINE ALSO THAT'S UNDER WAY AT THIS POINT. WHEN YOU CONSIDER THE
NAYSAYERS, THE FEAR MONGERS, 30 YEARS AGO BEFORE THE TRANSALASKA OIL
PIPELINE WAS BUILT -- AND REMEMBER, THAT PIPELINE HAS SUPPLIED 15
BILLION BARRELS OF OIL INTO OUR DOMESTIC SUPPLIES HERE IN AMERICA. AND
BY THE WAY, BIDEN, JOE BIDEN WAS ONE WHO VOTED AGAINST THAT TRANSALASKA
OIL PIPELINE 30 YEARS AGO. HE WAS FEARFUL OF ALLOWING RAMPED UP DOMESTIC
SUPPLIES OF FOREIGN ENERGY EVEN THEN. SO OF COURSE I FEAR THAT IF HE'S
OF THE SAME MIND TODAY WE'RE IN A WORLD OF HURT THERE. NO. THE
ENVIRONMENT WILL CONTINUE TO BE PROTECTED. OUR WILDLIFE WILL CONTINUE TO
THRIVE AND TO PROSPER UP THERE. AND WE'RE GOING TO MAKE SURE THAT WE
HAVE THE STRINGENT AND SAFE OVERSIGHT THAT IS NECESSARY AND THAT WILL
ALLOW THE POPULATION OF THIS WILDLIFE AND THE PRISTINENESS OF THE AREA
TO CONTINUE.

BARTIROMO:  OKAY.LET'S TALK ABOUT JOBS AND SORT OF THE IMPACT OF
DRILLING AND OFOPERATIONS THERE. HOW SIGNIFICANT?

PALIN: HERE IN ALASKA OIL PRODUCTION IS SO SIGNIFICANT. ABOUT 85% TO 90%
OF OUR ENTIRE STATE BUDGET IS BASED ON THAT BARREL OF OIL AND THE PRICE
THAT IT DRIVES, AND OUR STATE REVENUE IS, AGAIN, SO RELIANT ON THE PRICE
OF A BARREL OF OIL.FOR SUCH A GREAT PART ALSO ALASKAN JOBS ARE
CONTINGENT UPON VERY AGGRESSIVE PRODUCTION OF OIL AND NATURAL GAS UP
HERE IN  ALASKA.SO --

BARTIROMO: AND PROBABLY THE LOWER 48 STATES.IT'S A RIPPLE EFFECT.

PALIN: ABSOLUTELY.AND ALSO THE RIPPLE EFFECT, MAY AS WELL TALK ABOUT
THIS ALSO, ISOUR BELIEF TOO THAT AS MORE DOMESTIC SUPPLIES OF ALASKAN
ENERGY FLOW INTO THE HUNGRY MARKETS, NATURALLY WE BELIEVE THE PRICE OF
ENERGY WILL DIMINISH ALSO.IT WILL DECREASE, AND THAT WILL BE GOOD FOR
THE ECONOMY AS A WHOLE.BUT VERY, VERY IMPORTANT TO THE ENTIRE U.S.
ECONOMY.SPECIFICALLY HERE IN ALASKA, THOUGH.MY GOODNESS.IT IS WHAT
DRIVES OUR ECONOMY.

BARTIROMO: SO HOW IMPORTANT ARE THE OIL AND GAS INDUSTRIES?BUSINESSES TO
ALASKANS.

PALIN:  VERY, VERY IMPORTANT.CONOCO PHILLIPS, EXXON, BP, YOU KNOW, WE
BUTT HEADS QUITE A BIT WHEN IT COMES TO THE SOVEREIGNTY HERE OF OUR
STATE.ALASKA IS SET UP UNLIKE ANY OTHER STATE IN THE NATION WHERE OUR
STATEHOOD COMPACT ACT AND OUR STATE CONSTANT TOOUGS LAYS OUT FOR US WHO
OWNS THE RESOURCES AND UNLIKE OTHER STATES IT'S ALASKANS, THE RESIDENCE
WHO LIVE HERE WHO OWN THE RESOURCES UNDERGROUND.SO AS THEY'RE TAPPED, AS
THEY'REPRODUCED, ALASKANS SHARE IN THE WEALTH THAT'S DERIVED FROM THE
PRODUCTION OF THESE RESOURCES. SO THE OIL INDUSTRY, THEY'RE OURPARTNERS
HERE. THEY HAVE THE LEASE IS THE RIGHT TO DEVELOP THE RESOURCES BUT
ALASKANS OWN THE RESOURCES. SO THAT NATURALLY CREATES SOME  TENSION IN
WHO OWNS WHAT AND WHO CAN CONTROL WHAT. BUT OUR POSITION OF STRENGTH IN
MY ADMINISTRATION WE KNOW IS OUR STATE CONSTITUTION THAT, AGAIN, LAYS
OUT FOR US WHO ACTUALLY  OWNS THE RESOURCES.THAT'S THE ALASKAN
RESIDENTS. AND I WILL DO ALL THAT I CAN TO PROTECT THE ALASKAN RESIDENTS
AS WE DEVELOP. BUT AT THE SAME TIME WE RECOGNIZE THAT THE BIG OIL
INDUSTRY THAT IS HERE, THEY DO HAVE THE RIGHTS AND HAVE HAD THE RIGHT
FOR MANY YEARS NOW TO DEVELOP THOSE RESOURCES FOR US AND WITH US.

BARTIROMO: HOW WILL YOU DO THAT? HOW WILL YOU PROTECT ALASKANS' HOMES,
THEIR ENVIRONMENT? WHAT ARE YOU THINKING AS WE APPROACH THIS DEBATE
WHERE ON THE ONE SIDE PEOPLE SAY DRILL, DRILL, DRILL, ON THE OTHER SIDE
PEOPLE ARE SAYING LOOK, WE NEED TO KEEP THIS AREA PRISTINE?

PALIN: WE NEED TO DRILL, DRILL, DRILL.OTHERWISE, I CANNOT BELIEVE A
DOMESTIC SOLUTION IS ANY PART OF A NATIONAL ENERGY POLICY IF THEY'RE NOT
GOING TO LET ALASKANS DRILL ON OUR OWN LANDS AND ON FEDERAL LANDS WITHIN
OUR OWN STATE. AND IF A DOMESTIC SOLUTION ISN'TPART OF A NATIONAL ENERGY
PLAN, THEN OUR NATION IS IN A WORLD OF HURT, WE'RE GOING TO CONTINUE
TOBE RELIANT ON FOREIGN DANGEROUS REGIMES TO FEED OUR HUNGRY MARKETS. I
FIND IT IRONIC AND I FIND IT NONSENSICAL THAT HERE WE SENT SECRETARY
BODMAN, WE EVEN SEND OUR OWN PRESIDENT OVERSEAS TO NEGOTIATE WITH THE
SAUDIS TO ASK THE SAUDIS RAMP UP OIL PRODUCTION FOR US IN AMERICA WHEN,
AGAIN, ABSOLUTE NONSENSE BECAUSE ALASKA HAS THOSE RESOURCES ALREADY AND
WE SHOULD BE TAPPING THESE AMERICAN SUPPLIES BEFORE WE GO TO THE SAUDIS
AND ASK THEM TO DO SO.SO VERY SIGNIFICANT HERE WHAT IS GOING ON. AND I
THINK OUR NATION IS AT A CROSS-ROADS ALSO. WE'D EITHER BETTER BE MAKING
DECISIONS TO ALLOW THIS AMERICAN SUPPLY OF ENERGY TO BE TAPPED ORWE'RE
GOING TO BECOME MORE AND MORE BEHOLDEN TO THESE FOREIGN REGIMES. AND
AGAIN, OUR NATION'S GOING TOBE IN A WORLD OF HURT WHEN YOU TALK ABOUT
NATIONAL SECURITY, WHEN YOU TALK ABOUT EVER REACHING POTENTIAL TOWARD
ENERGY INDEPENDENCE, IF WE CANNOT IMPLEMENT A DOMESTIC SOLUTION FOR THIS
NATIONAL ENERGY POLICY.AND WE HAVE LACKED A NATIONAL ENERGY POLICY
ALSO.WE HAVE NOT HAD A PLAN. ALASKA SHOULD BE A LEADER IN THIS PLAN
BECAUSE WE HAVE THE CONVENTIONAL, THE NON-RENEWABLE SUPPLIES, THE
PETROLEUM. WE HAVE THEM UP HERE. AGAIN, THE HUNDREDS OF TRILLIONS OF
CUBIC FEET OF CLEAN NATURAL GAS, THE BUILDINGS OF BARRELS OF OIL. WE
ALSO HAVE THE RENEWABLES ALSO.WE HAVE THE LARGEST TIDES ON THECONTINENT,
WE HAVE THE GEOTHERMAL, WE HAVE THE WINDS.WE HAVE ALL THESE ALTERNATIVE
RENEWABLE SOURCE THAT'S ALSO CAN BE TAPPED INTO AS WE WORK COLLECTIVELY
AND COMPREHENSIVELYON AN ENERGY PLAN.

BARTIROMO: SO AS A NATION WE NEED TO BE DOING EVERYTHING?

PALIN: WE NEED TO BE DOING EVERYTHING, AND PEOPLE NEED TO BE REALISTIC
ALSO. AND THIS IS ALSO WHAT KIND OF SCARES ME ABOUT BIDEN AND OBAMA
ALSO, IS IT SEEMS TO BE ALMOST A NAIVE NOTION OF THEIRS THAT WE CAN
AUTOMATICALLY JUST JUMP RIGHT INTO A RENEWABLE SUPPLY OF ENERGY TO FEED
HUNGRY MARKETS ACROSS OUR NATION WHEN THESE RENEWABLES ARE NOT YET
PROVEN TO BE ECONOMIC NOR RELIABLE. WE'RE GOING TO BE IN A TRANSITION
PERIOD FOR QUITE SOME TIME WHERE WE'RE GOING TO HAVE TO CONTINUE TO BE
RELIANT ON CONVENTIONAL SOURCES OF ENERGY AS WE'RE WORKING ON THE
RENEWABLES, AND WE CERTAINLY HAVE TO HEAD IN THAT DIRECTION  ALSO. BUT
IT'S GOT TO BE DOING EVERYTHING, EVERYTHING THAT WE CAN TO ALLOW THE
DOMESTIC SUPPLIES, RENEWABLE AND NON-RENEWABLE, TO BE TAPPED, SOLUTIONS
PLUGGED IN FROM BOTH THOSE ENDS, AND NOT JUST SKIP THE OIL AND THE GAS
DEVELOPMENT AND THE COAL DEVELOPMENT ALSO THAT WE HAVE TO HAVE AS PART
OF A COMPREHENSIVE PLAN. IT'S NAIVE TO THINK WE CAN GO RIGHT TO
RENEWABLES AND THINK THAT'S EVER GOING TO WORK FOR OUR NATION TODAY AT
THIS TIME.

BARTIROMO: AND YOU CAN CATCH MORE OF MY EXCLUSIVE INTERVIEW WITH SARAH
PALIN ON "THE WALL STREET JOURNAL REPORT" THIS WEEKEND.WE DID AN
HOUR-LONG INTERVIEW. IN MY COLUMN IN "BUSINESSWEEK" MAGAZINE FOR A
SECOND INTERVIEW WHICH I CONDUCTED ON WEDNESDAY. MY THANKS TO GOVERNOR
SARAH PALIN AS WELL AS THE VICE PRESIDENTIAL CANDIDATE FOR JOHN McCAIN.
AND PLEASE JOIN US FOR OUR SPECIAL ONE-HOUR PRESENTATION, "THE HUNT FOR
BLACK GOLD"  PREMIERING WEDNESDAY, SEPTEMBER 24th. "THE HUNT FOR BLACK
GOLD" THE  REASON I FIRST WENT TO ALASKA TO TALK TO SARAH PALIN ABOUT
OIL INALASKA AND WHERE THE OIL IS IN THIS COUNTRY."THE HUNT FOR BLACK
GOLD" AIRING WEDNESDAY, SEPTEMBER 24th.

BARTIROMO: WELL, YOU JUST HEARD PART OF MY INTERVIEW WITH SARAH PALINTHE
GOVERNOR OF ALASKA, AND JOHN McCAIN'S RUNNING MATE TO BE VICE PRESIDENT.
I WENT TO ALASKA TO ASK HER ABOUT ENERGY, BUT I ALSO ASKED HER WHETHER
JOHN McCAIN CONTACTED HER TO BE THE VP. LISTEN TO THIS.

PALIN: MY SON, HIS STRYKER BRIGADE -- HE'S IN THE U.S. ARMY, HE'S 19
YEARS OLD. HE'S A KID. HE'S A GOOD AMERICAN KID SERVING IN THE ARMY FOR
THE RIGHT REASONS. HIS STRYKER BRIGADE WILL BE DEPLOYED SEPTEMBER
11th.THAT'S COMING UP HERE SHORTLY.AND I THINK, AGAIN, IF WE'RE FIGHTING
AT ALL OVER FOREIGN SUPPLIES OF ENERGY WHEN DOMESTICALLY AGAIN RIGHT
HERE IN ALASKA WE HAVE THE ENERGY SUPPLIES THAT COULD AS WE PROGRESS
WITH MORE DEVELOPMENTS REPLACE SOME OF THOSE SUPPLIES WE BETTER NOT BE
AT WAR OVER THIS CAUSE I AM A MOM AND MY SON IS GOING OVER TO IRAQ AND I
WANT TO MAKE SURE THAT WE HAVE A PLAN THERE.

BARTIROMO: PALIN HAS FIVE CHILDREN AS YOU JUST HEARD ONE OF THOSE
CHILDREN IS GOING TO IRAQ ON SEPTEMBER 11TH HER YOUNGEST HAS DOWN
SYNDROME AND THAT'S WHY SHE IS ALSO EXPECTED TO TALK ABOUT PRO-LIFE WHEN
SHE SPEAKS NEXT WEEK AT THE CONVENTION.  HERE'S WHAT SHE SAID WHEN I
ASKED HER IF JOHN MCCAIN ASKED HER TO BE VP.  SHE SAID THEY HAVE SPOKEN
A NUMBER OF TIMES.  THE ENTIRE INTERVIEW CAN BE SEEN ON CNBC.COM.