tv Cashin In FOX News April 28, 2012 8:30am-9:00am PDT
fox. sorry to so him go and we wish him very best in his new venture. have a great weekend, everybody. keep it right here. cheryl casone and cashin' in. >> can't beat them crucify them. congressional investigation is heating up as a agent is saying he want to crucify oil companies. it is somewhere and fine the first and they crusify them. >> is this type of attitude toward the energy companies and while gases are high.
i am cheryl casone and welcome to cashin' n wayne, and johnathon and tracey and john and joining us this week democratic consultant julian epistein. johnathon i am curious what you think here. the epa attack why gas prices are high now and probably going to go up. >> that's the green movement goal to raise gas prices and make it harder for man to use the earth to his benefit. their goal is to hurt mankind. they put the bans on drilling and exploration and man dates on algae and make it harder for exxon to get permits and a crucfication as he put it. it is toward american companies and it is a shame. >> john, we got earning from
exxon and they talked about drilling. maybe the reason? >> it is part of it. main reason gas prices are high china went from 4 to nine. and we are tuck at 86 million barrels total capacity in the world now. as far as the u.s. it hurse significantly. oil production is down and the government said it up. but the energy information by the u.s. government said it is down. one of the reasons because of 200,000 jobs waiting on fraking legislation in ohio. make a ruling that is fair so we can create jobs in this country. >> julian, congress is going to get involved. you have congressman darrell islip and want to investigate the statement from the epa
official and find out what is going on here. what are they going to find? >> look at the basic facts. it was a low level epa official and talking about going after polluters and people who break the law. third, gas production and oil production is at a sevenyear high right now. obama administration licensed 400 new permits for rigs. we have more rigs operating in the united states than anywhere else in the world. obama administration opened up millions of acres for exploration and approved part of the pipe lines including the key stone pipe line. gas prices are going down three weeks in a row. and gas prices going up, has nothing to do with the law of supply and demand. prices are still going up. because of the limited view of the market. >> tracey, you are shaking your head why? snerks so many.
as a roman catholic. i hear the word crusfixation i wil blow my head off. oil companies are doing what they are do. i don't know if the epa want to destroy kind. but i know all of their attention is misguided. oil companies are not the reason for high gas prices. john said it every week on the show. we have no energy plan in this country . no energy policy. we are completely out there and as a result we are reliant on the nutters like iran to jack up our gas prices. >> john, you should tattoo that somewhere on your body. he apologized . i will show you the quote. he did apologize. >> i apologize to those i offended and regret the poor choice of words. it was a way of addressing the violation.
he's trying to make amends; is that enough? >> no, of course it is not enough. you hire people like that they are supposed to work for the people. he is working for himself and work for example his bureau. he is a burrcratic moron. that's what he is. look, you talk about key stone, why has not the president approved the total key stone? everybody is behind it. unions want it and it would create jobs and he talks about job creation and he will not approve it >> why? it is a political act. nothing to do with the economy. he doesn't care. he will approve it after he gets elected. >> and that's stupid and against what the people are doing and what he should be doing as president of the united states. >> it is a mystery to me why a private investment would need the king's permission or
president's permission or harry reid's permission. you don't have to ask the government for permission . this is government going after law-abiding producers and people who want to create energy. >> julian one of the thing epa is the issue of fraking. they haven't found violation from companies but the companies have been investigated. do you think they are going down the wrong path. they should support the production of natural gas or oil. >> i don't think that enforcing the environmental laws whether you are talking about the pipe line and there were environmental issues in key stone . fraking, making sure they comply and as i point out. no one responds to the fact
that production is at a sevenyear high and demand is low . supply is high . prices are still going up. to the other point, we have two percent of the energy reserves and consume 20 percent of the world's energy capacity and simply drilling. >> let's go back to algae and candles. you mentioned fraking. imagination if there was regulation wills in front of fraking. 20 percent saving in heating their homes. gas prices. >> you know, johnathon we are producing more and putting more permits and more exploration. (talking all at once.) >> hey, guyings, i appreciate the two man show. and there is to say that the administration is responsible for the increase in domestic
production is insane. the bush administration is not responsible for it either. it is a technology innovation and look at government numbers it is down since 2010. the thing with the key stone pipe line is not environment. it is 24,000 miles of pipe line. it is all policy. and i believe the president is going to approve it but wait until the after the election to do it. >> but the question is wayne rogers will the epa be in the right role as we try to increase domestic production. is the epa going to play fair? >> julian makes a point he is a low-level epa burr rat. it doesn't matter. it is the attitude that comes from the top. the mafia, the fish stinks from the head. it goes right down. and the people who are out to
crucify people as he said. sorry about that. but he said that and he's out to get people and that's the whole attitude of hostility against someone who is trying to do productive. >> wayne, how do you know what the mafiia. >> forget about it and coming up. plenty of people are out of work right now, and so why is the government making it easier for job seekers just out of jail. this you got to hear . i'm conso. i'm not paying hidden fees or high commissions. i'm making the most of my money. and seven-dollar trades are just the start. i'm with scottrade. i'm with scottrade. i'm with scottrade. and i'm loving every minute of it. [ rodger riney ] at scottrade, we give you commission-free etfs, no-fee iras and more. come see why more investors are saying... i'm with scottrade.
record. arrest with conviction? that is okay. and that makes you a fine law abiding citizen. the government should not tell them who they should or not hire. if i don't want to hire you because you were in trouble that is my business. i have a right to choose. >> and wayne rogers should we deny john the bar fight. he was young. >> and drinking age was 19 at e time. >> absolutely bar john. want him right here. you know the problem with this. let me ask you a question. with the tsa, that is the government would they not do a background check and find out if it is a terrorist or not. suppose as a child molester applies for a job as a teacher in aly year old class.
you know, this is ridiculous. you come to the point where the government interferes with itself and say you can't do a background check on these people because it will disclose something. and suppose i hire somebody and i didn't do a criminal background check . this person turns out to commit something against my customer. i get sued and because i didn't do the crim thal bacround check i am liable it is crazy. >> eet is hearing. should they be interfering of how the hiring practices are in the country? >> we do as a matter of policy. it is coming to race and gender issues. there is a part of the judio-christian ethic that believes in redemption. once you pay your debt to society you get a shot. what the eeoc is doing here.
many people wanted to say once you serve your time you should not be chris discriminated against. eeoc is taking a ground position and not saying somebody can't refuse. but a potential employee has a right to explain and it is not relevant and they reformed themselves and the criminal penalty was expunged it is an opportunity for an excon to explain why it is not relevant. that is a middle ground position. >> john, we a, forgive you. but there are so many people out of work anyway. what about that crowd? >> the judio-christian belief is to forgive but doesn't advocate someone who -- stupidity. if you put someone over a account and they were accused of stealing. you should know that.
we have 63 percent of the country and the work force to put one group in front of another is insane. it is a helpful a lot of pitzah the government said you have to hire a criminal with your own money and i see it as an assault on the businessman's mind. they make smart decisions about who to hire . who is like this. you must hire this group or that group. and it is it an assault on businessman's business judgment. >> julian. the eeoc is recommending that employers stop asking about past convictions. if i see something i am supposed to ignore and presume they repent they are all better and hire them and put them in the classroom. >> and it is a recommendation.
>> it is a bizarre one though. >> i will grant you that part is odd. but to go to john's point, there is no requirement that an employer may give a employee a job to use your example of a criminal background for embezzlement or crime like the accounting deputy. this is simply an effort to try to reintegrate people who were in prison back in the economy and give them an opportunity to explain that they have reformed. it is part of the judio-christian ethic. >> but julian, i am all for that. but you have to allow the employer to take care of his own business and customers. >> i agree with that. >> unfortunately unemployment is so high and that is the crux of the whole thing.
we'll take a break . whoo wecome back. we have this. apple record numbers this week. it is the number that you are not hearing about that is speaking rolumes . and what it all means for the future of our economy, that's next . not in this economy. we also have zero free time, and my dad moving in. so we went to fidelity. we looked at our family's goals and some ways to help us get there. they helped me fix my economy, the one in my house. now they're managing my investments for me. and with fidelity, getting back on track was easier than i thought. call or come in today to take control of your personal economy. get one-on-one help from america's retirement leader.
are in place by thed had of the secret service. the code of conduct was enacted after the prostitution scandal in columbia. police are scur rounding a bunker in washington where a man believed to killed his wife and daughter is holed up. he is armed and dangerous. and it is one year since the deadly tornado destroyed much of tuscaloosa, alabama. residents are marking the day with remembrances. and we'll check in with rick who is live in tuscaloosa . talk to larry gatlin who is trying to help victims of another tornado out break earlier this year. stay with us, see you in the top of the hour. >> everybody is talking about the blow out profits. len billion busts. but no one is talking about this number. 110 billion. that's how much cash the company is sitting on.
wayne much of that is over sees and they say it is because of high taxes here in the u.s.. do you blame them? >> no, of course not. why would you pay taxes when you don't have to and do something that is stupid and as long as it is higher in the united states you leave that money in that country. only one reason to do that because you have an incentive to do so. if you lower the tax rate in this country you would do that. piers morgan said it should be an act that people will do this and bring money back and bring jobs. crazy. i never heard of that individual. you think that companies like apple and others would bring money back. >> it is a simple process. license your technology to a low tax jurisdiction. and it shows and park in a
place like bermuda and where it glose tax-free. there is no incentive and it doesn't make business sense. we talk about two trillion . a trillion of that is overseas. it is not coming back we do something with the tax code which is highest in the world. >> they would hire americans and be more jobs here, now. >> i don't know if it is that simple. i listen to what apple said. it is sitting on the cash because it want to make a dividend for shareholders and buying back a lot of the stock to drive up the tock price. apple cfo said part of the reason they were not bringing it back, they didn't want the tax costs. the panel pointed out. money goes where it is treated the best. it is not treated well in the
corporate level in this country . then the collectistist that apple owes the prosts to the greater good. that funds the anti-trust attack dogings that go after apple itself. >> tracey, do you think if we lower the corporate tax rate jobs , be? >> we tried it before. we had a corporate tax holiday. and honey sat on the corporate balance sheets. we have health care costs that no one knows about. no one is hiring anybody right now. we are starting to see our american dollars higher over seas. that money is staying over seas and now they are hiring over there, too. >> other countries are benefiting from it. >> the tax and policies are out of control. >> thank you very much. julian epistein thank you. >> thanks for having me. >> coming up. forget one million.
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you're getting carried away. >> what do i need to know for next week? there is a new plan to raise taxes on people making 75,000 or more. is that the new rich that is scary. >> it is rich . john lay field what do you have got? >> they are big trends and th is the first big acquisition and a seven.sevenyield . now come up with eat pizza. >> that would be good. if you are looking for yields. that is the total energy fund. it is something to check out and paying 6 percent. >> and thank you, johnathon do you. >> the market and transports are the stronger than internationals and utilits. i am sticking wit