tv Forbes on FOX FOX Business April 28, 2013 2:00am-2:31am EDT
three and four billion came to taiwan. familiar the money and follow ben. >> guysing thank you very much. the cost of the freedom continues on this place for business. you are watching, fox. >> we draw the line in the sand that we are about america. we are american jobs. i am sick and tired. can you imagine paying the dam crazy countries that we get ou oils from instepped of brothers and sister necessary canada. >> a slam bang defense . key stone pipe line. unileaders demanding that the white house stop draggg their feet and c jobs and help a industry that is booming with private money and make the police less dependent on foreign oil. welcome to forbes on fox.
we'll have steverick, and sabrina and bill and morgan and rick. >> are they right? >> they are right it is a no brainer. it is coming by pipe line. i rather has the money go to canada tn venezuela and iran that finance terrorism. why not it? >> rick why not? >> it does my heart good to say the unions are right about something. very special moment. this decision has to be made by the people who live along the aquafer that may or may not be put at risk. we have to be careful not to overstate the oil will have. it will flow down to tex fex and get refine sold to the highest bidder around the world. it doesn't mean it is it a bad idea. >> sabrina, this is a unique moment in the history of
energy exploration. we are leading the way in terms of oil delivery through the pipe line and oil and fracing and that whole bit. we are the center of the universe and should exploit that. >> that's why the library washington post critized president obama when he rejected the pipe line and said it is national insanity. it may not be the magic bullet to energy independence. but economic is crystal clear. we have a sluggish american economy and this would bring private and sector jobs and th would trickle through the economy as a result of the pipe line. i think that the post is right. >> john tamne. >> a am all for key stone. don't create a false narrative as a result of it. we are a rich country
precisely because we divide up work around the world . we import tv and bananas and oil is no different. the idea of walling off the economy from foreign oil is false . >> understood. but bill baldwin. there are moments when one region leads the another in term of oil exploration and right now it is the united states and right now, this is the moment to take advantage of. >> maybe it is . i would like to address another matter offered by the nay sayiers that this will not lower the gasoline at the pump. it is set in a world wide. if we spend 90 bucks a barrette. i would rather having it go up north where it is used to fight terrorism than to send it to those who create terrorism. >> morgan, do you agree? >> this oil has an impact on
gasoline prices. and the other is the transportation cost to get crude down to the refineries. this will lower the transportation cost and make that canadian oil cheaper than the imports from mexico and venezuela and saudi arabia it will help. >> rick, what about the jobs these might be one-time jobs that go away. you still believe that? >> everybody wants to see more jobs, i sure as heck do. the problem the research project business a couple of thounds of jobs and that is a good thing . most of what i am seeing indicates they will not last that long and that is unfortunate. >> morgan? >> it i 3ep i jobs. >> that is it a lot more. >> and whole on a second, steve, the multiplier from the obama administration hasn't banned out.
with government jobs those jobs go away. with private sector jobs, they grow and you create a job and interprize and jobs do grow. >> the oil continue to flow even after the pipe line is completed which is a raw material for our economy . so if the private sector feels they are getting a return on it good for the economy and good for us, let's do it . the fact that venezuela and iran, they will not get the money that is better. >> one last thing, the environmentam impact. these reserves are not going away and the canadians are not ignoring and taking them to the market. who do we trust more on the environment? america or the chinese. we all agree on that. >> rick, i am interested in who you trust more. there is a battle between the epa that said the pipe line costs more . the state department seems to
be leading in favor of it. >> it is facinating f. i were going to gamble i would say the state department wins. the biggest concern to the department is whatt does to the aquafer. that is it the worry. >> i think it is a aqufer. >> excuse me. >> the folks in nebrask and the governor was concerned and now those concerns he feems have been met, bill? >> there is more that rick and his friends could do. support fracing and we could replace coal with new form much energy. >> rick, you support fraking but do you think that the administration has been dragging foot on fraking? >> most of the foot dragging is not at the feral willful level -- level. but the state steve, this
administration doesn't like carbon energy. they said that many times, the energy secretary and president. look at fraking, ited out slow and increased tremendously. look at the magnitude. it is it a mag tuled in more than 10 in terms of the increase. >> yes, and in states that drag their feet like new york. balse the governor knowledgings they are going to run for president. california is california and most states like pennsylvania are seeing that this is a huge revenue generator and ultimately those revenues will overcome crazy politician. >> john, i understand that we are world economy and we can't favor one cntry over the other. look at what is happening right here. we are the leader right now. shouldn't we push hrder in the energy exploration and production. >> i am all for it and i am
always afraid of national energy policy or and i will make the point. terrorism keeps coming up in the. fighting terrorism, the best way to do it is trade around the globe. then the countries that supposedly do dislike us will have a rooting interest. >> steve, what about that point. >> if is not a peaceful way to go. >> if you want to turn our enemies in nicer people you trade. >> unly you have countries that don't like free trade and use venezuela and iran against us. >> and if you had a true free market i am all for it. look at noh korea. >> and the iranians in north korea u that to create more nukings. >> coming up next, green car maker psker getting access to
approximate fisker. our government's plan may have put it on the verge of. like pushing them to build cars and vice-president joe biden's state of delaware and john said this is why dc should get out of green us businesses and all businesses. >> without question. if the federal burrcrats hay clue they would be making billion necessary the private sector and venture capitolist say they are wrong. and the notion that federal burrcrats with no profit plin can do better it i laughable. its time to exit and give it back to the private sector. >> rick, the government pushed the car company while it losing $550,000 for every car they sold. >> there was no way can
successfully defend the investment in fiscer. it was a loser. this is what i worry about. we have to be careful not to cast the net too wide. we know people who are alive today because of direct government investment in pharmesutical and electronics changed the world. don't throw out the baby with the bath water. i know you don't like green investment, but don't throw out. >> i like green investments in the private sector that work. i don't like the bad ones that go down the drain. >> david, you don't like the chevy volt that is federally subsidized with federal tax buyerings. >> oh, nissan. we gave a billion of green money to a foreign car company >> and track record . obama administration is much worse than any other administration when it comes to this type much -- of folly.
there tens much thousands in the pet projects . there are over five hundred convictions of corruption. you talk about bad investments, they are also criminal investmentings. >> morgan look at all of the bad investmentings. solyndra is the grand daddy. there is abound, a, 1, 2, 3 systems and everygreen. it goes on and on. >> it is making harder for me to defend them but i will take a swing. with all . green investing that is happening with the government, less than in green start up us. one of tholce places is energy efficient technology and affordable and subsidized housing. we are seeing it with federal tax cuts and natural gas that is now on the table finally for proposal. i think there are areas where government should be involve would. >> steve, it is when the
government gets involved particularly with fiscer by the way. there were plans to roll things out slowly. the government was worried about the bad press on solyndra and pushing them to do the wrong thing. government burrcrats are making micromanagement moves that are dead wrong. >> it gets to the problem. government isolitics, like putting thatening in joe biden's home state. we have green energy created by the natural sector. call would natural gas. windmillings were invented in the medevial times and railroad 19th century technology. let the private sector determine what workings. if people don't like it they don't buy it. >> sawrittena, it is it a fact that middle class taxpayers ended up subsidizing spoil would celebrity like leo
dicrap pro and justin bieber. they are the only ones that could afford the cars and these are the people we were subsidizing. >> you read my mind. clearly bad habits die hard in the obama administration. they can't seem to get beyond the mistakes. but what comes to mind here in dc is the political and there are serious green energy cronyism going on. the $529 million loan was a drop in the bucket. president obama gave out over 34 billion in green energy products and four out of the five companies in this current scandal are obama donors. we are seeing -- >> the political ramifications of all of this. to steve's point. win power is more expensive than it ud to be. a lot of politicians want
windmills where there is no wind. in the wake of the boston bombinglies, calls growing to pay for more surveillance cameras all over the america. senator rand paul will tell you why it is not a good idea. he's on cashin' in . more fast food workers walking off of the job and demanding more massive pay hikes. is that a rammy with him and the folks behind him. we'll explain.
>> >> more fast food workers walking off the job in chicago. they are demanding that the companies double their wages and the walk outs are backed by unionings. steve, are these protest basod legitimate complates or a union ploy? >> it is a unploy. if you raise it is wagings, you will bankrupt most fast foot places. you will get vending machines instead . unileaders should buy a ft food place and put their own money and labor and pay people $15 or $20 bucks and see how long they last. >> it is better to have some job than no job at all.
>> if the union support the key stone pipe line it is good. if they support workers who can't get by and below the federal poverty line. unions are bad. these people are not making enough money to reach the federal poverty line. i understand that these businesses need to make money. but if we continue to pay workers that way, no one will be able to to afford the hamburgerings. >> my father is a fast approximate food franchceicer. the vast majority are owned by small business owner and lease the brand name and products and they get hit by tax hikes and obama care costs and though thoses go up. to sell a 99 cent whopper they can't afford the higher rate. >> bill bald win in february,
the black team unemployment rate rose to 42 percent that. is obscene. it is particularly among a group that would be hired by these companies if the wages stap where they are. >> it is obscene that they would have a long day and not have enough mon tow buy food. union anger shouldn't be directed in the restaurant owners but at the customers who are willing to pay so much for a hamburger and no way to rce them to cover the wage. >> mike, a couple of facts. most minimum wage earners are not the primary brad winner. the average family income is about 47,000 and very often they are not the lead wage earners for the family. go ahead. >> thugs like trumpka are why it is private sector has
plummeted. people don't take them as career jobs. it is a stepping stone . compare two companies in the same industry. ups and fedex. ups is unized and fed exis not . fed exis growing faster. >> there is it a earned income tax credit to help people who are struggling. that works better than raising the minimum wage. >> if you see the minimum wage. raised. workers will have to pay more in unidueless. >> folkings growing up in the market crash are wary of investing in the market. helping to put them in ease and put money in your pocket.
>> calming the nerve of wary young investors. morgan. >> the cigarette maker is a best performing stock. paying five percent dividends. >> bill you like it. >> i am recommending the medical stock. i think it is sending business my way. >> hospital supply. >> yes, they make disposables that go in hospitals. >> it is susceptible to obama
care regution. - regulation. >> that's it. thanks for watching. senator rand paul joining eric boling on cashin now. >> big brother helping to bust the boaston bombers and now new calls for more security cameras over america to help save us from another attack. is more surveillance japidizing our rights. >> are you okay for surveillance caras. >> hell yeah. >> the more the better. >> tell save liveless. >> more the better. >> keep us safe. >> it is better to keep us safe. whatever we have to do to keep the public safe. >> it is moreonstitutional not to have them but happy they were caught. >> what are lawmakers going to