There are elites that are real leaders and role models. There are elites that are really selfish and want to pull up the ladder once they've reached the roof.

Oil is a tangible commodity, so there is a global market. The fact that we may need less may affect the global price because we're big consumers: we probably take about a quarter of global demand. But if suddenly, let's just use a crazy example, fighting in the Middle East led to the closure of the Strait of Hormuz and no oil could get out through the Strait of Hormuz, well that would affect China, India, Europe, it will affect the whole global economy. It will affect us, too, then.

My mother-in-law says if you want to live like a Republican, vote like a Democrat. That if you are a part of the group that is doing well in this system, you owe it to yourself and to others to look out for them and make sure you are always building a ladder for others to join you.

There is definitely global warming, and man is definitely contributing to it. Go out to, say, Montana and talk to some pretty conservative people, hunters and fishermen. They know that in the trout stream they fished when they were growing up, the trout are stressed because the water temperature is going up. They know the hunting season has been delayed because the snows are coming later, and therefore the elk aren't coming down from the mountains.

The reason that we are becoming less equal is because of the greater requirements, secure requirements, for a good job. This goes back to the '80s basically, this started changing as globalization and the IT revolution merged, and each started to drive the other.

If you are self-motivated, wow, this world is tailored for you. The boundaries are all gone. But if you're not self-motivated, this world will be a challenge because the walls, ceilings and floors that protected people are also disappearing. That is what I mean when I say "it is a 401(k) world." Government will do less for you. Companies will do less for you. Unions can do less for you. There will be fewer limits, but also fewer guarantees. Your specific contribution will define your specific benefits much more. Just showing up will not cut it.

Why is it Muslims from Pakistan or from Egypt come to America and thrive, and they are frustrated back home? It's about clean government. It's about a rule of law. It's about intellectual property protection. They've got all the talent and energy of anybody else. As new immigrants they may have more of it, so you put them in our system and they become doctors, lawyers, and businessmen and entrepreneurs.