tv Your World With Neil Cavuto FOX News March 22, 2012 4:00pm-5:00pm EDT
>> snowing all over the place. right now. that is not the challenge. that is not the problem. >>neil: well it is the problem. because this is not quite the truth. are we drilling everywhere today? we will drill. welcome, everyone, i am neil cavuto. yes, gas up two cents today. and now the president is in cushing, oklahoma, part of the site of the keystone pipeline. he said we are drilling everywhere and pounded by the congressman i talked to yesterday. i promised we would lock at it and we are. look at a map of the united states. a wonderful country. you should stay here. these are the areas where we are drilling. that is where we are drilling. now look at this.
the areas in red are places where we could be drilling. where we have the rights to be drilling because this is our land. our area. but we're not. so when the president says his administration is opening up millions of acres for oil and gas exploration, much of it private, you might want to thank not this president but prior presidents because under this president, drilling permits, the stuff you need to get approved to drill in the first place, they are down 36 percent. i want to echo that again, drilling permits are down 36 percent. and for the numbers the president is using to describe the amount of oil america actually has, those numbers are up for substantial dispute. and now, over to washington, dc with much more. >>guest: the president says in almost every energy speech we
only have 2 percent of the world reserves a way of suggesting we don't have enough oil to make a difficult presence and it would do no good to drill for more because it could never be enough to meet our needs. >> as much as we're doing to increase oil production, we're not going to be able to drill our way out of the problem of high gas prices. >> some of us believe the president is trying to suggest we don't have adequate resources here in the united states which is not true. >> not true the analysts say because we have more oil than the president is suggesting. the president's pointing to proven reserves which is 21 billion barrels but the united states is sitting on untapped energy and a federal agency says there is ten times more, 219 billion barrels in the recoverable energy. another agency of the department of energy says that there is 20 times that much, 400 billion barrels more and those in private industry say there are
60 times that amount so 1.4 trillion barrels in untapped resources, energy the government knows we have but not drilled for. industry experts say we have more oil than saudi arabia, the president has been arguing he is drilling and he is committed to more drilling and having a lot oil is a "good thing," as he said today. that is a different message than the when he has been sending to environmentalists would focus on the statements that he has given where he says he wants to ween the united states off of oil. many of them don't think we should be drilling more. and head of the friends of the earth society says we are addicted right now, there is no question. but there is a question about how we get off that addiction. several environmental groups today loudly complain that the president is trying to have it both ways. another interesting note, analysts point out that proven reserves were 20 billion in 1944 and since then with veto
procedured 170 billion barrels and proven reserves are still just over 20 billion suggesting we always unestimate what we have. >>neil: i would say substantially so. as always, great reporting. thank you. so, this is where gas prices are when we are drilling here. where would they be if we were drilling all over here? everywhere? where we could, not making a joke and saying the president was reprimanding folks i could put an oil well on the white house ground, no, just on an open area ground. and now, my guest joins from the mercantile exchange. what is the really skinny? >>guest: if we were drilling wherever we could be we would not be talking about $4 or $5 gasoline we would talk about $3 or $2 gallon. that is a significant difference
much when i hear the president say we don't have a silver bullet, this president has a silver bullet, he was granted it on a golden platter but failed to take advantage. new technologies in the energy industry created an energy boom on private lands has changed the energy landscape and for the first president since truman this country has a chance to be energy independent and it may not have been true under president bush or clinton or carter or fix on. >>neil: when he uses the argument yesterday on this show, that we could exhaust the official figure of 2 percent that you said and jim angle reported could be woefully low, that it with not do squat to change the energy picture, you think on that basis he is wrong? >>guest: he is wrong. 87 percent of federal lands have been off the table, off the shelf and you and in the tough
them. the figures the president talks about, being forward looking for energy, he talked about wind and solar and the future but he is using statistics that are probably 10 years old and we changed the energy landscape because the energy industry has new techniques of drilling. we can drill deeper than we could before. more safely than ever before. and we can frack and use water to get oil out of places we thought was impossible which changes the energy landscape and the president is failing to take advantage of the advances and has discouraged the advances. they are trying to regulate and reregulate and they put more red tape in front of new drilling projects then you would see after a super bowl parade in new york. it is time to containing. and time to start focusing on what he has been given. >>neil: thank you, phil, from chicago. ♪ come on, baby
♪ do the switch ♪ come on, baby ♪ let's do the switch >>neil: is the president trying to pull a switch here ignoring the word "keystone," making a pitch to build part of the pipeline. >> today i have come to cushing, oklahoma, and making this new pipeline from cushing, oklahoma, to the gulf, a priority. >>neil: cushing, oklahoma, was the theme. that followed the white house fax sheet referring to this as the "cushing, oklahoma, pipeline." will that do anything by changing the name? >>guest: like the wizard of oz pay in attention to the man behind the curtain. face it, he -- forget keystone.
it doesn't exist. i was against keystone but i am for cushing. >>neil: i am thinking of cases where after a herrible crash, they become a new airline with a new maim and we are supposed to forget the accident or what accompanied the demise. >>guest: he does this and he gets appear with it. face it, he is saying there is plenty of drilling and we are drilling more than enough. drilling is down on federal lands and india lands and he gets away with it because the people would vote for him want to believe it but now he is nervous so he changes. he is just a great campaigner.
>>neil: so they are taxes, maybe "revenue," is a nicer word. >>guest: his greatest enemy is youtube. because people are going to see what he said before, they will actually ... you will rearen't and show stuff. >>neil: but you are the best, ever, at it so when kentucky fried chicken turned to kfc, did it change anyone's perception that kfc was a great place to go to? >>guest: people went for fried chicken and they did not hear the word "fried." so now it is cushing, and he is changing, and he is scary.
>>neil: kfc is a good example but i think he is winging. >>guest: kfc "winging." >>neil: well, yeah. do you get a sense for some, he will put it back on republicans and are you opposed to the cushing pipeline? >>guest: it is up to the voter who will say wait, i'm being snowed here. this man isn't telling me the truth. >> and the american public he is betting is not smart enough to catch it. >>neil: thank you, jerry. the leaders of four energy companies are sending the president an open letter during the oklahoma visit saying approval of the entire keystone pipeline should happen now not after the election and the
executive chairman is joining now from oklahoma city. so, sir, it is the cushing pipeline, get back on script. did you know that? >>guest: didn't know that. >>neil: now you do. get with the program. what kind of message did you have for the president? >>guest: well, we are delighted to see this reversal of the president's policy saying he will alleviate the regularrary positions. the army corps of engineers was poised to give the permit across the river some time ago but the state department said to stop. so, while we welcome the president's row versal you have to acknowledge all he is doing is expediting something or allow something to go forward that his administration stopped. doesn't get a lot of credit for that. >> but for the southern part of
the pipeline whatever we call it, they are more substantial than the northern part of the pipeline but he approves the southern part. >>guest: the whole pipeline brings the jobs here. it brings more oil here. that will help stabilize rices - prices. >>neil: the bottom settles the oil from that area, the southern part, to all locales, right? >>guest: all the parts from oklahoma, from the small town in oklahoma a pipeline hub where lots of pipelines come together and there is a bottleneck because we have scoffed so much oil on private lands, not on federal lands, in this part of the country. so, there is a bottleneck and we cannot get enough oil down to the refineries located in the gulf coast and this would alleviate that. it does nothing to bring the oil
in canada to this country. >>neil: there are two messages of president obama, one i believe in helping the oil guys and i believe in drilling, but, then, there is maybe, for your industry, the evil obama who comes out and says i will take the subsidies appear they had it too easy for too long and they are making too much money and it is ridiculous. those are pretty extreme mixed messages. >>guest: they are mixed messages. to say he wants higher taxes on us. we do not get subsidies the way that most members think of. the government doesn't write us a check to do anything. one of the subsidies we allegedly get is we pay the same tax rate the rest of businesses do. and the same rate that all industries paid, the "new york times" pays, that everyone pays and he would like to increase the tax rate on our industry and our industry alone. that is not the way the country was governed where you have different tax rate force people you like or don't like.
that is silly. >>neil: larry, thank you. i will have to have you back at another time. i want to see you back but thank you very much, larry. and now a look at the latest attack add on romney from the dnc. look what rick santorum and newt gingrich are doing. you do not see a difference? that could be the problem. ♪ oh! [ baby crying ] ♪ what started as a whisper ♪ every day, millions of people choose to do the right thing. ♪ slowly turned to a scream ♪ there's an insurance company that does that, to liberty mutual insurance. responsibility. what's your policy? ♪ amen, omen
we're definitely gonna need another one. small sinesses that want to grow use 4g lte technology from verizon. i wonder how she does it. that's why she's the boss. because the small business with the best tecology rules. contact the verizon center for customers with disabilities at 1-800-974-6006. >>neil: when the democrats are doing this and the republicans are doing this, is this a problem? on both the left and the right they are trying to shake up the presidential race by jumping on this etch a sketch comment made by one of romney's staffers. and my guest says the republicans will take the cues
from the deity, everyone will loses, and most pros expect that is what is going on. >>guest: but the etch a sketch comment was taken out of context. the aide was talking of resetting for the general election which every candidate does when they win the primary, president obama did it, and john mccain did it and that is what he meant and everyone knows it for rick santorum and newt gingrich to go on this and grab it and run with it and take it out of context is totally unfair. >>neil: what i find revealing is any campaign staffer has an etch of sketch. you have things to do, don't you? you have ipads and other devices but i digress. you think this is fighting back-and-forth, boomerangs on romney should he be the nominee? >>guest: you expect false characterizations of candidates, comments and the aide comments from the left wing media and the
obama team you expect it but not from your fellow republicans. >>neil: say they have a reason because a top aide says more or less stated what we have long suspected, and that he 70 who he appears. >>guest: the damaging part of this it reinforces a perception that romney has been a flip-flopper and he does not haven grained conservative values. voters have factored that in. look, is romney a sell it conservative in my mind? not necessarily. but i do think he has come very far the last couple of years since becoming governor of massachusetts and atoned for a lot of the more liberal sins. >>neil: you have been saying almost like mark levin you would vote for an orange juice can. if you had the choice, president obama and a physical pineapple.
>>guest: i would vote for the inanimate object. >>neil: think that through, sharp, say what you will, and pineapple. >>guest: well, consider the amount of damage. let me answer your question, consider the amount of destructive damage this president has done in 3 1/2 years, or pineapple who could do no damage. >>neil: so you advocate a pineapple over the president. >>guest: as republicans we have other choices, we have romney, newt gingrich, rick santorum, and ron paul, and the race is going on and will probably go on until june and i am a proponent of long and tough primaries because then they are battle tested and ready for the general election. this etch a sketch thing is silly and it will soon be over. >>neil: we got a comment from sponge bob "yeah." >>guest: now, sponge bob is running for president?
running for president? cool. [ clang ] the all-new 2013 lexus gs. there's no going back. see your lexus dealer. here's a chance to create jobs in america. oil sands projects, like kearl, and the keystone pipeline will provide secure and reliable energy to the united states. over the coming years, projects like these could create more than half a million jobs in the us alone. from the canadian border, through the mid west, to the gulf coast. benefiting hundreds of thousands of families throughout the country. this is just what our economy needs right now.
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>>neil: alec baldwin says the president should retire to a gay bar and known says boo, because republican senator inhofe doesn't believe in global warming. and now at 6:00 p.m., we thought it would be a good idea to talk to the senator. and get his first response to the attacks and why he is going against the media grain on this whole global warming issue. fox business network and only fox business network. and to virginia middle school students are being instructed to get the dirt and a teacher telling them to dig up opposites
in research on g.o.p. presidential candidates and plan an attack strategy. if you think it goes no further than the teacher's desk after that, think again. and now breaking the story, this goes beyond the teacher's desk. >>guest: yes, he assigned the students to do opposition research on all the republican candidates and write a strategy paper exploiting their vulnerability and figure out how to send that information to the obama campaign so, public school students are becoming political operatives. >>neil: how old are the students? >>guest: 8th grade students. >>neil: what if i am eighth grade and i don't want to participate and i will say, can i do the open, and i will zig up -- dig up dearth on the on on -g up dirt on the president? >>guest: the principal has spoken to the teach december
they can now do research on at bomb or the republicans but the assignment has been going on since january is it is kind of too late to do obama now and they have been well deep in this assignment. >>neil: all the kids had to do it? >>guest: yeah. you are assigned one of the candidates whether it is newt gingrich, romney, and you look for the dirt you can find on them, put together a strategy and send it to the obama campaign. >>neil: did the parents find out what happened? i would thing no matter the persuasion it could cause problems. >>guest: this were a lot of angry parents. >>neil: the reaction was, we will invite just those students who, really, is not had a chance to get the other side since january to go ahead and try and
that is a guarantee "f," by the way. >>guest: this is political activism. imagine if private schools had their students doing opposition research on obama, the left would go crazy. >>neil: we with troy to get someone to come on, but they say no one was instructed to send their research to the obama re-election campaign but the teacher asked students to find out the name of the office that would receive such information. well, well, hello? >>guest: why? why? why have him look up the person and office this information was supposed to go do? now they backtracking and saying, well, we didn't actually want them to send it there. >>neil: say you are not obama campaign and getting information from eighth graders that proves it could be the case to be wrong, and, suddenly, you have
>>neil: fedex saying the customers are scaling back as the gas prices soar. the company says the last time it saw anything like this happen was during the recession. is this a sign another recession could be nearing? if anyone knows it is money man and best selling author who is my special guest tonight at 6:00 p.m. on fox business network and widely considered one of the greatest market gurus of all time. volkswagen is hiring the second biggest car company is planning right now to give 800 people a job in one right-to-work state. what we call the moving camera with a blocked prompter ... you
know, it is what it is. anyway, that governor joins me, republican governor of tennessee. governor, good to have you. well, here we go. this will not get amount of attention that the jobs going to union states get but what do you think? >>guest: well, it is important. part of it is being right-to-work and volkswagen actually has been talking with u.a.w. and they said we will let you make the choice. i talked with a number of employees would say they are comfortable the way things are so we will let volkswagen and the employees decide but being a right-to-work state with low taxes is a good formula for bringing jobs. >>neil: did you think this would be retribution, investigation on this, comparing volkswagen and boeing in south
carolina, where they went to a right-to-work state. >>guest: well, probably is a little different. they, almost it is investigation wagon first manufacturing plant if years they have built in the united states. so we are not moving them from a "non" right-to-work state. but, it is significant, our manufacturing growth in tennessee has been considerable lately and i have to believe, again, about being a state with low taxes and low regulation and right-to-work of the people have a chase where they will put jobs and we, make it as easy as possible to choose tennessee. >>neil: did volkswagen give you any indication it would expand beyond this? a lot of the foreign automakers are beefing up the united states operations and, again, most of them, virtually all of them, in right-to-work states. >>guest: well, a couple of things are happening. you are seeing a lot of manufacturers who want to be closer to their customer, and we are obviously talking to volkswagen and we love the
investment in tennessee and love to see them invest more, so it is about being close to your customer and people are trying to play the value of the dollar against other currencies and think having the manufacturing in the united states makes more sense and you have a lot more onshoring rather than offshoring like we remain five or 10 years ago, and again, i am actually encouraged about the growth in manufacturing that you are seeing in tennessee and hopefully around the country. >>neil: do you fine it odd that all these companies that were foreign operations are encouraged and look to growth in foreign countries and we right now have a president speaking as he continues this four state energy tour who doesn't welcome that, and want dozen penalize that. >>guest, well, our motto is build them in tennessee and sell them everywhere across the world and one thing that is important and we see that with a lot of republican governors, folks understand that government doesn't create jobs. business does. and individuals do.
when they put capital at risk. and that is why it is important do have an administration that understands that, and we will not grow jobs unless people are willing to risk capital. we know the job could go somewhere else and we fought for them hard to be here and want to create an environment where they are glad they choose tennessee. >>neil: student loan debt is topping $1 trillion. $1 trillion. in student loan debt. all together, and why that could cost everyone, whether you have a loan, or not. whee! whee! wheeeeeeeee! ah heads up.
when i'm on overtime. when i'm in over my head. when i have to be sharp... no matter how many time zones i've crossed. when i'm on my feet for hours. when it's game time. when the day's only half over but my energy is all gone. when i need the energy to start exercising. every day. every day. every day is a 5-hour energy day. 5-hour energy. every day.
dave you say it will be a big problem for housing. connect that for me. i'm slow. >>dave: it is a big problem for all of the economy. like when the government goes in debt it drains the economy. when the consumer is deeply in debt it drains the economy because it delays them making other economic decisions. they have this big millstone hanging around their neck to deal with and whether it is credit card debt or student loan debt or whatever it will delay them making the decision to buy the first home because they're broke. and broke people should not buy houses because it crashes the economy. >>neil: isn't in inflation adjusted terms hear economists say the burden of educational loan debt is not that worrisome and that loan compared to to they have jobs, is not as
onerous as it appears. you say what? >>guest: that is a case where an economist is academic rather than sitting down with joe and susie at the table and feeling their burden. when i talk to a couple doing financial counseling, it is not economic theory. there is a reality they owe $80 or $90,000 in student loans and they have credit card debt. >>neil: you cannot runaway from that debt. in bankruptcy debt that is money can you not runaway with. what happens? >>dave: we value to reassess what we get for what we pay on the educational dollar. we will talk about that and get more been for our buck so that leads us to not going into so much student loan debt.
how will they turn it around? they dig their way out but in the meantime they will not spend as much because they have this weight around their neck. >>neil: so when your kids go to college do you go to the school with a stack of dollar bills? what do do you? >>dave: we went this with a suitcase. >>neil: thank you very much. well, the house is tag about the rationing board today and we talk about the fallout from that. >>guest: as republicans attempted to dismantle the health care law congressional democrats have been commemorting the two year anniversary by detailing the benefits and claiming the overhaul financially frees americans. what our founders put forth in the founding documents which is life, liberty, and the pursuit of happiness.
and that is exactly what affordable care act helps to guarantee. >>reporter: in response, majority whip writes that the obama and pelosi government take over of health care does the open of what leader pelosi claims and starting a business is harder because of the new obamacare taxes and if you want freedom of liberty to pursue health care, good luck, because because of this bill the government now is mandating what is best for you. two years ago tomorrow, president obama signed the health care law and on monday the supreme court begins hearing arguments on the constitutionality. >>neil: forget what tim tebow will did on the field for the jets it is all about what he brings. off of it.
>>neil: it is tim tebow time, the controversial quaterback acquired by the pork jets if a trade yesterday from the broncos and already the newspapers are all excited, but, forget the win, could the buzz just be major green for no matter the get the wins or not? my guest says absolutely. they will be rolling in that money. so, why, you argue great move for the jets. >>guest: economic move. people think this is a trade but it is about economics. denver did not want did pay a backup quaterback ten type of money giving peyton manning $96 million. from the jets, you are talking
buzz. knocking the giants off the back page. merchandise. tim tebow bring as buzz to the new york jets and that had a lot to do with it. >>neil: i think buzz follows victory. you lose the buzz if you dent win. >>guest: but he brings something to the table, a man of character, a champion and a warrior, and if i have an nfl franchise i would like tim tebow on my team. >>neil: but if i am the present quaterback would they had to coddle after sweet talking peyton manning, i am not happy. >>guest: if you want to be coddled you are in the wrong business. >>neil: but that is what the jets have done? >>guest: listen, you lay the best as a competitor when you are challenged and tim tebow will bring --. >>neil: look, just because you played football, i have watched it on tv so i know what i am talking about, this is a marriage made in hell, these two it will not happen, and it will implode on the jets.
>>guest: why do you think tim tebow approved? he wants to come to new york where the marketing dollars is, he will make far more money. >>neil: very good for him but for the jets it will boomerang because sanchez will complain and whine and, you know --. >>guest: if he brings poorly you bring tim tebow in. >>neil: but they felt differently during the peyton manning negotiations, right to i had woody johnson on fox business network and he was telling me they passed him because they were happy with sanchez. >>guest: i don't believe that. if they had a chance you should have followed up with tough questions. similar to you are doing with me. >>neil: he said this was no one else, just sanchez. what makes this guy different than manning? >>guest: what makes tim tebow different than peyton manning? he is not as, you are talking with peyton manning talking one of the tom five all time quaterbacks. when you have a chance to get a
peyton manning you do it, i don't blame denver but the jets are getting something of value with tim tebow on the football field. >>neil: you think there is the obvious financial appeal and with football you can always sell out games, you argue the merchandise is the big drawing? >>guest: the draw with the jets they are knocking the giants off the back payment, the super bowl champions --. >>neil: the giants won the super bowl? >>guest: you are a redskins pan and i am a philadelphia eagles fan and we are wallowing in our misery. >>neil: i didn't think it was necessary for you to bring that up but it is okay. we will see if he is right. thinks he knows football. and a spiral that went viral. after this. ok, guys-- what's next ?
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the president said we should take the all of the above approach. >> neil: he says that, but he is not doing that. i just talked to a guy who i trust knows more about oil than you do. he says he is not doing it. >> it's tough if i answer a question you don't let me answer it. >> neil: i asked it four different ways and you haven't. he's not doing it. tell me he is doing it. tell me how and where he is doing it. >> are you going to let me answer? >> neil: yeah. have at it. >> good thing i don't have the secretary here. with that heated back and forth from the congressman. as the interview was going on, sarah in new york already had her red pen out. she writes a big fact "f." you acted like a fool and because you're fat. you're air grant ass. and another, you made him look like steven hawking. nice going, jerk."
oh, yeah? he had all the facts. you had the quicker wit, he doesn't. but that is no excuse to inflict the god awful shirt and tie combination on us. that's offensive. all i could look at is the stupid collar. >> neil: that is pretty good. actually, i have no idea what you said. phil writes -- >> neil: kathryn, via aol -- >> neil: i can't win here. then there is louise, via roadrunner.com --
>> neil: she had more to say but i deleted the rest of the e-mail. don writes -- paul in anaheim hills, california -- >> neil: that is my point exactly, george. speculators chase prices either way, up or down. when they are shorting the energy, spending for example on the decline, as they were in 2007, everyone is fine with that. not the other way around. i can understand that. what
>> neil: helen, you might want to talk to robert in florida. "i'm not an obama supporter but when you invite guests on proceeds to shout over, talk over, cut them off and lecture them. one of your guests called you an ass. he was spot on." scott e-mails -- neil, i get it. neil. more of your name? snake oil. it's speculators. supply is up. demand has not increased. pure speculation." scott, pure bull. demand is up. and the dollar is down and has been going down for years. because of the mockery of the budget process in washington, which hasn't produced a budget in years. oil is priced in dollars, einstein. so the cheaper the dollar get, guess what? the more dollars it takes to buy oil, the buy gas, and buy everything. right? as i said, speculators, and
the federal reserve estimates at best, at best speculators accounted for 15% of the rides. so scott, back at you. quick question, what or who accounts for the remaining 85%? i report. you feel free to derive. one hour from now on fbn, republican senator fighting back against the tax for likes of boln and rfk junior. is that fair? is it right? what sparked it? we're on it on fbn. if you don't get fbn -- >> there with go. eat your heart out, ipad. >> neil: how long were you working on that? >> since yesterday morning. why >> neil: did i have something to do today? >> this is a process to get people to demand fox business network. >> neil: okay. do just that. thank