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tv   Mornings With Maria Bartiromo  FOX Business  March 8, 2022 6:00am-9:00am EST

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the steel workers who made all that possible. and a whole lot more. people whose efforts yield an essential ingredient to how america works. maria: good tuesday morning, everyone. thanks so much for joining u i'm maria bartiromo. it is tuesday, march 8th. your top stories right now, 6:0. gasoline now at a record high as oil surges and stocks hit correction territory. russia now entering day 13 of its war against ukraine. president biden reportedly now headed to saudi arabia to ask the you saudis to pump more oil, days after sending officials to venezuela for the same as the president refuses to allow canada to replace the oil and gas approval of the keystone xl
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pipeline. take a look at the price of oil this morning, extending the surge, both brent and crude hitting the highest prices since july 2008. the price of brent at 126, 88, up another 3% right now, crude oil at 122, 67, up another 2 and three quarters percent this morning. gold prices also higher this morning. trading above $2,000 for the first time in 18 months. still hovering around 2,012. as gold represents a safe haven for investors. meanwhile, stocks bouncing off of weakness, take a look at where we stand this morning. the dow industrials now higher by 82 points, the s&p higher by 15 and the nasdaq up 20 points after another tough day yesterday. the dow, the s&p 500 and nasdaq all closing at session lows monday, the nasdaq falling into bear market territory and the dow industrials in correction mode. that is a 10% decline from the highs, investors fearing a he
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recession be in 2023, sending dow industrials down almost 800 points at the close yesterday, the nasdaq down 482 points yesterday, 3 and two thirds percent and s&p 500 gave up another 127, 3% lower. european markets are mixed amid the ongoing attacks from russia on ukraine. the ft 100 down 18, the cac is up 72 and the dax index is higher by 72 as well. in asia, red across the board, china the biggest loser overnight, the shanghai composite down 2 and a third percent. russia bombing civilian targets now, preventing people from escaping ukrainian cities that are under severe attack. russia claiming to offer you human tear pan corridor -- humanitarian corridors but is demanding people exit pass through russia or belarus. the united states now sending more troops oversea as president zelenskyy asks americans for help and -- digs in on defending
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his land. >> i stay here in kyiv. i don't hide. i'm not afraid of anyone. i'll stay here as long as it's necessary to win in our patriotic war. maria: coming up, former vice president mike pence will weigh in, reacting live at 7:30 a.m. eastern this morning. don't miss it, coming up. "mornings with maria" is live right now. and your morning movers this morning, take a look uber and lyft, higher this morning by better than 1 and-a-half percent. both up in the premarket as the ride sharing companies launch campaigns to get ahead of efforts that would classify driver as employees. that would allow them to form unions. the wall street journal reports new television ads will show workers saying they prefer being independent contractors and would rather have flexibility over being a company employee and a union employee. doordash and grubhub following the trend. take a look at the stocks, higher this morning. rest of the market is mixed,
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bounceing from a steep selloff yesterday, the dow industrials right now showing a gain of 82, s&p 500 is up 15 and the nasdaq higher by 21. this after the s&p 500 dropped almost 3% yesterday, the worst day since october 2020. the dow entering correction territory after dropping 800 points. the nasdaq officially entering a bear market, sliding 3.6%. that is now down 20% from its record high from november. the nasdaq in bear market territory, the dow in correction mode. joining me now is advisor investment's chief investment officer, jim lowell. joining the conversation all a morning long this morning, fox business' dagen mcdowell and the wall street journal's editorial page editor, james freeman. great to see everybody this morning, thank you so much for being here. lowell, kicking things off with you. so happy to have you here this morning. with the market in correction or bear market territory as an investor, what do you do? >> well, maria, with both of those things already in hand it's awfully hard to say you
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want to trade to get rapidly more defensive at this juncture. that said, with hyper inflation staring us in the face and of course the russian invasion of ukraine continuing to put dramatic pressure on the global markets, we think a modicum of defense does still make sense. if you have cash coming into your portfolio, there's no rush to put that cash to work. you could dollar cost average it in. we also think you need to really review your portfolio, make sure your asset allocation, stocks and bonds are in proportion to your long-term goals. inside the next three, five, 10 years, what's going on today will matter a lot less but it's going to matter a lot more inside the next three to six months where we think we could in fact see both a recession and hyper inflation. maria: well, i mean, look at the price of oil right now, jim. hovering around a 14-year high. as you heard here yesterday, house lawmakers did in fact introduce a bill to ban russian
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oil imports as russia warns it could close a major gas pipeline to germany, raising the possibility of $300 a barrel oil t if the west bans its energy exports. what are your thoughts? you've got company after company walking away from their business in russia. shell announcing a withdrawal from russian oil and gas operations following so many others and now the president is reportedly traveling to saudi arabia to get the saudis to pump more oil. what is your assessment of the oil story right now from an investment standpoint? >> it puts dramatic pressure on the broader marketplace and the global market. marketplace. when you look at the world's third largest economy, japan, understand it imports virtual all its oil, that's devastating and material in terms of the consequences for its economy in the near term. for our economy, it clearlies takes a toll on -- clearly takes a toll on the driver of our economy, the u.s. consumer and the higher it goes, the more that bell tolls consumer
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spending. if we see a dramatic reversal in consumer spending we would become significantly more he defensive than we currently are because with the jobs market in a healthy state, we think the consumer at least at the moment can drive through this wall of inflationary pressure. but it is a real and material dane gander it's not just oil -- danger, it's not just oil, maria. of course it's commodities and food across the board so there's some real pressures on the driver of our economy. we're watching it closely. maria: you've got metal surge, food prices surging. russia, ukraine among the top of producers of wheat is another issue. we're going to have it all come out and lay out this thursday. we'll get the consumer price index out. we are expecting to see 40-year highs once again with a gain of 7.9% year over year. that would be the large ofest increase -- largest increase since january of 1982 with the month over month expected up
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8-tent hads of a percent. do you think a recession is possible. >> we are not ruling out a recession. we were not ruling out a deflationary bout due to stockpiling. we think the risk of recession continues to increase and is likely to continue to increase. this is not a time for long-term investors or even short-term traders to think they can call a bottom. we think we've got a ways toss to go before we really find some sort of foundational bottom that we can build upon with confidence. maria: all right. dagen mcdowell is here this morning, dagen, jump in. dagen: jim lowell, do you need to factor in the possibility that the biden administration makes a mistake, another mistake, even bigger mistake i'm not talking about begging venezuela or even iran or saudi arabia to pom -- pump more oil
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when continuing to turn their backs on u.s. producers. i'm talking about price control which would create a horrific supply shortage because they're going to look to do something to appease the voters and maybe make a mistake. >> well, dagen, i think a that is a big risk coming down the pike. a political risk. we know washington is focused not so much on the near term or even the long-term issues that impact investors. they're focused on the midterms. so yet another mistake? absolutely would not rule that out. the whole pitch of energy independence based as it is on an ideology more than the facts on the ground will have to be sorted through. perhaps the midterm elections can help along that score. between now and then i would expect politics to add another layer of volatility to the marketplace. maria: sure. and it has and it is. jim, it's great to catch up with
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you. thank you for being here this morning. we so appreciate it. jim lowell joining us this morning. coming up, russia and ukraine finishing up a third round of cease fire talks with no result. the war showing no signs of stopping as ukrainian president zelenskyy sends a defiant message. we take you live to kyiv coming up after the break. don't miss a moment of it. you're watching "mornings with maria" live on fox business. when you're driving a lincoln, stress seems to evaporate into thin air. which leaves us to wonder, where does it go? does it shoot off like a rocket? or float off into the clouds? daddy!
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♪ ♪ ♪ ibm let's create maria: welcome back. evacuations are underway, people leaving ukrainian cities along safe corridors. russian shells have stopped multiple attempts to evacuate civilian as deadly russian invasion now entering a 13th day. president zelenskyy says he's not going anywhere and a he's digging in. trey yingst is live on the ground in kyiv this morning. trey, good morning to you. >> reporter: maria, good morning
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to you. disturbing news overnight, local reports indicate a russian air strike killed at least 20 people in the northern ukrainian town of sumi. there are children among the dead and this just gives you a sense of what the ukrainian people are facing today and throughout the past two weeks as this invasion erupted across their country. we were in the city of anapine yesterday, close to the ukrainian capital, to view the devastation and destruction as thousands of civilians left their hometown. the russians tried to shell them and shoot them with snipers. here's what we saw. there's a large group of civilians fleeing the city. they're holding a white flag to let the russians know they are not a threat and they're simply trying to get out of the city. >> your life is broken forever. and you have no hope. >> reporter: this woman has been walking for miles. she tried to shield the eyes of her young daughter as they passed bodies in the war-torn
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streets. >> i will tell you the war, it's a disaster and many died there in our town, many died, people just like on the street. >> reporter: in the distance, p ukrainian soldiers crouch down, worried about russian snipers and shelling. they tell fleeing civilians to hurry and stay low. the evacuation for these people has become much more difficult as the russian fire mortar shells at this position. >> i'm leaving this complex over there, the other end of the city. they destroyed everything. >> reporter: yesterday, four people were killed as they left the suburb of kyiv. residents say russian troops pushed forward overnight and drove tanks through the streets. >> they told us to go because there is a war and when we start to go we saw near our houses was three tanks. >> reporter: russia says they aren't targeting civilian areas. today, the sounds of war pierce the air.
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to do he these reports we put a lot of research in behind the scenes to understand the areas where we are covering and it's sad to look at what these towns and cities were like just a month ago, filled with culture and history, restaurants, cafes, and now today they are consumed by war. maria. maria: it's just unbelievable. great reporting, trey. the international atomic energy association is confirming that another nuclear site near karkiv was damaged by russian shelling. what can you tell us on that? >> reporter: we're gathering information on this shelling. it is significant because we saw the world turn their attention to this country and the nuclear facilities here after last week the zaporizhzhia plant in the southern part of the country was hit with a russian shell. we found out it was an administrative building at that plant but the fact there was shelling so close to nuclear reactors was extremely
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concerning to the international community as as there was radioactive material at that plant. we're gathering information about the shelling in the northern part of the country but once again, it shows the russians are indiscriminately fire, not taking into account the fact that are hitting areas that have radioactive material and this is a country that has seen the disaster that nuclear facilities can cause with chernobyl, north of where we're at right now. it's something to watch in the coming days and it's also something you're going to likely hear more condemnation from the west, talking about even in the coming hours, because this is a significant development and something that's extremely dangerous. maria. maria: unbelievable. trey, thanks very much. trey yingst this morning in kyiv, p ukraine. james freeman with us this morning. your reaction, james? james: yeah, the brutal horrific assault continues by vladimir putin. as we talked about last week, fortunately the nuclear facilities there now are safer than the ones the old soviet
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union, like the one the old soviet union operated at chernobyl so let's hope there's not a further catastrophe there. this offensive as awful as it is, as brutal, is obviously not working for russia and we're seeing thousands of people across rush s sha, even though it's illegal to be in a mass protestation, they're coming out and making their voices heard and getting arrested. this is an interesting development because of the danger of speaking out against putin within russia. so one way or another, let's hope putin either realizes the mistake here and finds a way to retreat or the russian people make it clear they won't tolerate it. maria: such a fragile situation, dagen. and really it's hard to sit here
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and watch this underway and have no ability to do anything to stop this madman. dagen: we could as a western world cease buying any russian commodities, oil, for example. but that's not going to happen because particularly europe is so reliant on oil and natural gas coming out of russia. they can't exist as a modern economy without those natural resources. but adding -- going back to the threat on ukrainian nuclear power plants, the danger is is that russian forces make a mistake and do something that jeopardizes those plants. with zaporizhzhia they were lucky in essence it was an outbuilding, a train facility that caught fire. with the fukushima plant it was
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power that was cut off because of flooding. you need generators to cool the reactors. so there's the possibility of a few clear disaster if these -- nuclear disaster if the russian forces tonight know what they're doing. they captured and are overseeing the staff at zaporizhzhia right now. they've got them in a strangle --stranglehold. the risk of a nuclear disaster rises every day the war goes on. maria: it's so fragile and this administration can replace the lost oil in three seconds with canada. president biden is reportedly headed to saudi arabia, though, to get the saudis to pump more oil, just days after asking venezuela to do the same. tennessee congressman david kusoff is next. meet a future mom,
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>> i expect bipartisan legislation to be introduced very soon as early as today that would both ban russian imports of energy to america and would suspend normal trading relations with both russia and belarus. maria: you heard it here first, that was congressman kevin brady on the program yesterday telling us that the house's new bill would ban russian oil imports into the u.s.
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it was in fact introduced yesterday as canada says it could replace the russian oil while president biden reportedly mulls a trip to saudi arabia to ask the saudis to pump more rather than reinstating the xl pipeline. joining me now is tennessee congressman david kustoff, a member of the financial services committee. congressman, thanks very much for being here this morning. we are watching the price of oil, the price of gasoline, commodities surge in the middle of this war. your reaction to the impact. >> well, there's no doubt that everybody is feeling it. the bottom line is, joe biden's america right now, it's just expensive to live. i hear that all the time from my constituents. and in fact, last night i did a teletown hall where we took questions from constituents in my district for about an hour. question after question about oil prices, gas prices, what can we do to get some relief, can't we resume production here in the
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united states. very good and intelligent questions. i think real people get it. i think congress gets it. unfortunately the biden administration, it hasn't sunk through and so we're going to need to instead of what president biden is proposing kowtowing to dictators in saudi arabia and venezuela and iran, he needs to be reaching out to people in texas and north dakota take and alaska and other states and let's ramp up american production again like we did during the trump years. maria: we are clearly in an energy crisis. you would think that even if it were just on a temporary basis to fire up the xl pipeline and yet you're right, the administration will not acknowledge it. jen psaki discussed this yesterday with peter doocy. watch. >> would president biden ever undo his executive order that stopped the construction of the
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keystone xl pipeline? >> are you suggesting that would solve the gas prices issue? >> do you think that would maybe affect prices faster than getting the whole country off of fossil fuels. >> i actually don't think it would. keystone was not an oil field. it's a pipeline. also, the oil is continuing to flow in just through other means. so it actually would have nothing to do with the current supply imbalance. maria: wow. congressman, is that true, it has nothing to do with the current oil balance? >> no. you know, she frank hi has no credibility -- frankly has no credibility. i think back to the debate during the build back better that biden pushed. the two arrestingments she car -- arguments she made were it wouldn't cost the american people anything and it would reduce inflation. it wasn't very smart, wasn't very credible. neither was her response to peter doocy on the keystone
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pipeline. we all get it. the more production we have in the united states, the better it's going to be, the less reliance on federal oil. we become energy independent again, like we were during the trump years. that's a factor in inflation, these high energy prices that would take a chink out of inflation and it's a no-brainer. my constituents in west tennessee get i it's sad that the press secretary for the president doesn't quite understand it. maria: and yet this climate agenda is being instituted in all sorts of agencies and places. we know that president biden is trying to push through his nominee for the overseer of the banks, sarah bloom raskin. do you believe she will in fact get the job? she has written in the past she doesn't think banks should be lending to fossil fuel companies. >> that's a very, very dangerous position for somebody in the federal reserve to take,
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to dislike our financial system. i think that a lot of it depends, frankly, on joe manchin, like so many other issues do among the democrats and it looks like the republicans are united in the senate. so her nomination is very tight and a lot of it also would he depend on whether the senate tries to bunch up these federal reserve nations as a -- reserve nomination as a package or whether they separate them. maria: you spoke to fed chief jay powell last week, you questioned him in had that testimony. he's meeting next week. we are expecting the first interest rate hike to be a quarter point hike on march 16th when the federal reserve meets. what are your expectations in terms of a soft landing here going from an easing position to a tightening position? >> you know, you wonder whether that move is aggressive enough and i think back, you know, last month we got the cpi number which showed 7 and-a-half
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percent increase, 40 year high. we'll get the new number in the next few days. the fed really needs to push back. they need to use all the tools in their toolbox because here in washington the biden administration keeps advocating for pumping more money into the economy, more stimulus. obviously, that adds to inflationary pressures. but i think in light of what is happening, what we're seeing in russia and ukraine, that if that had not happened a few weeks ago, putin had not made that move, the fed in fact may have been more aggressive on their rate hikes. i frankly do appreciate jay powell's candidness. he kind of doesn't talk in the fed speak that some of the other past fed chairmans talked in and i talked to the american people like real people when he testified before our committee. maria: yeah. so you think that the ukraine
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war from russia has changed the fed's path, changed the fed's plans? >> i do. you know, you look at some of the comments from people like james bullard, for example, who advocated for more of an increase. i do think that russia and ukraine has had an impact on the fed's decision making. maria: congressman, thanks very much for weighing in on all of that. we so appreciate it. david kustoff joining us this morning in washington. >> thank you, maria. maria: we'll be right back with general jack keane. back in a minute. just an investor, you're an owner with access to financial advice, tools and a personalized plan that helps you build a future for those you love. vanguard. become an owner. do you think any of us will look back in our lives, and regret the things we didn't buy? (camera shutters) or the places we didn't go.
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kidney disease affects one in seven american adults. but there is hope, xortx therapeutics is fighting back, with late-stage clinical trials for two drug-based therapies to help slow the progression of acute kidney injury, and chronic kidney disease. xortx therapeutics. maria: welcome back. good tuesday morning, everybody. thanks very much for joining us, i'm maria bartiromo. gasoline at record high as oil surges and stocks hit correction territory. russia now entering day 13 of its war against ukraine. the price of oil extending the surge, both brent and crude this morning hitting their highest ht
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prices july of 2008 crude is up almost 3%. stocks meanwhile are mixed after a tough day yesterday. take a look. the dow industrials higher by 95, the s&p 500 higher by 16 and the nasdaq higher by 18 and-a-half. even as oil and commodities move higher as well. yesterday, the dow, the s&p 500 and the nasdaq all closed at session lows, the nasdaq falling into bear market territory, that means 20% from the highest to the lows, the dow in correction territory. that's 10% decline from the highs. yesterday the dow down 797, the nasdaq down 482. meanwhile, a 15-year-old boy killed after gunfire erupted outside an iowa high school. cheryl casone with the details now. cheryl. cheryl: maria, a troubling scene outside of the des moines area high school. police say gunfirer resulted from a passing vehicle, one teenage boy dying, two female
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students cried callie injured. -- critically injured. the teen boy was not a student at the high school. police have not disclosed a motive. several suspects were detained. no charges have been filed. the freedom convoy expected to disrupt traffic in washington d of c for a second day. the pent gone announcing national guard trolls troops will be on a-- guard troops will be on alert as they continue their protest over covid mandates and restrictions. they will drive the minimum speed limit on the highway, causing traffic snarls around the beltway. more than 1,000 trucks are demonstrating and they're getting powerful support. republican senators ted cruz of texas, ron john son of wisconsin will meet with the truckers later this afternoon to discuss the, quote, harmful effects of biden's mandates. intel has filed paperwork to take the self driving car unit public. the projected valuation of the ipo currently just above 50 billion. intel going to he remain the majority owner after the public
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debut set for later this year. they had about 1.000000000 in ref dark-1.4 billion in revenue last year. finally, this. the first product launch event of the year for apple is today. although the company is always incredibly tight-lipped about what investors, the media, the public may see. there are reports that apple will debut new iphone, ipad airs and maybe a new mac mo l del. of particular -- model. of particular interest the next gen iphone se. it will have 5g, a faster processor, a better camera. no word if it's going to be $399. the event will be live streamed from apple's headquarters. apple a quarter percent higher in the premarket. those are some of the other headlines we're following from here. back over to you. maria: all right, cheryl, thanks so much. russia has laid out its terms of to end this war. a kremlin spokesperson says the
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deadly attacks could end if kyiv acknowledges crimea as russian territory and donesk and lieu hand as independent states. russia is demanding ukraine stop all military action and change the constitution to he reject any intention to join nato or the european union. joining me is fox news senior strategic analyst, general jack keane. thank you so much for being here. your thoughts on these he demands from russia? >> well, they're unlikely for ukraine to agree to that. those demands were made before the war, certainly. it strikes me those he demands go right at the heart of ukraine because they redraw their boundaries. they rob them of their national identity in terms of them now becoming a neutral state and they rob them of the right for self-determination. i don't see how zelenskyy at all will accept a deal like that. but also, remember, this is what
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many of us thought would be the object screak testify of -- objective of the russian military, to go only into the eastern part of ukraine, mainly to achieve the objectives that they're just stating here. but they surprised us and went into all of ukraine to topple the government and put in a pro-russian friendly government. i think obviously what is happening here, maria, is those military objectives that they assigned to themselves are being stalled as we all know. it's 13 days now and they've not made a lot of progress on trying to topple the government in kyiv and they haven't really captured a major ukrainian city. they still don't own the air space because ukraine aircraft are flying and as reported they may indeed have shot down some russian aircraft last night and their cyber war inexplicably has
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not been very effective whatsoever. the russians are readdressing the issue here and hoping to carve out a position that gives them possibly an exit ramp. these conditions will not be acceptable to the ukrainians. maria: and yet many people are worried that putin is not going to stop at ukraine and will in fact do something to one of the nato countries. do you worry that the baltic states are next? secretary of state antony blinken is assuring that the baltic states have the support had that they need. here's what he said yesterday. watch this. >> we will defend every inch of nato territory against aggression coming from anywhere at any time. our commitment to article 5, an atack on one is an a attack on all, is ire clad. the president called it sack
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sacrosanct. maria: he said nato is considering keeping troops in the region on a permanent basis. do you worry putin is not done and a he will in fact go to the baltic states next. >> senior officials that i'm in contact with particular tri in - particularly in the pentagon, clearly believe we're in a dangerous period here and certainly the risk of expansion is really true. you can tell by their visits. last week, secretary austin in the baltics and poland, this week the chairman of the joint chiefs is there as well, secretary blinken visiting two of the baltic states. there is genuine concern here that there can be an expansion of this conflict and, listen, our -- the amount of deterrence that we have had in the baltics and poland has not been adequate in terms of nato troops in those countries. we've had the minimum. now we've got to fix that
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problem and we're moving in that direction. we truly have to establish an effective military deterrence. it's not enough to have a large nato power on paper and not have it deployed to where the threat is. that is the awakening that has taken place and we're readjusting now the forces and obviously moving them of to thee east to put in place a deterrent. they this is what putin genuinely respects. he respects strength. when sees it there, then he's going to recognize it. rhetoric, diplomacy, what we have tried in the past generally appeasement, it doesn't work. that's why we are where we are today. so, yes, there's a concern here, maria. there's no doubt about it. maria: china's foreign minister describing russia as china's most important strategic partner. we know that this partnership has strengthened. he said it's one of the most
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crucial bilateral relationships in the world. but what i want to ask you about is rail. because over the -- is israel. over the weekend we saw the prime minister israel meet with president zelenskyy. we saw that the ceo of chevron says that a natural gas pipeline from israel to europe could help alleviate the shortage. your thoughts on an israeli come pone glent what's going on with -- when they sustained the regime that was close to failing, as a result of that, the iranians gained strength and they began to put more pressure on israel. israel had to take them on because they were trying to establish bases in syria from which they could attack israel.
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therefore, israelis began a number of air strikes to facilitate those air strikes h they had to make a deal with the russians who were controlling the air space to let us conduct those air strikes and netanyahu made a number of visits to see putin to get that accommodation. this is a recognition that russia has influence in the middle east at the expense of the united states. this is why saudi arabia and the uae have been kind of silent on the ukraine issue because the influence of russia in the middle east. and it was a huge mistake that took place there at the expense of the united states. what the israeli prime ministers is trying to do, certainly he wants this conflict to end. i'm certain he's made overtures to that degree. some think actually he could be one of the people to help negotiate a peace accord here. but the fact is that he has -- israel has a relationship with russia because of the security
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situation and the threat that they have from syria. that is what has really taken place there. maria: really an important point. general, good to see you this morning. thanks so much. general jack keane, always spot-o we will see you soon. thank you. quick break and don't miss my exclusive interview with former vice president mike pence. we will get reaction to the russian war on ukraine. he is coming up in about 40 minutes' time. first, we will talk crypto right after the break. at adp, we use data-driven insights to design solutions to help you manage payroll, benefits, and hr today, so you can have more success tomorrow. ♪ one thing leads to another, yeah, yeah ♪ so you can have more success tomorrow. at jp morgan, ♪ one thing leads to another, yeah, yeah ♪
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maria: welcome back. bitcoin hitting $39,000 this morning, take a look. crypto is higher the this morning but cryptocurrency down about 18% certainly for bitcoin down 18% year-to-date. the white house is set to release an executive order had this week calling on federal agencies to review cryptocurrencies instead of the creation of a u.s. digital dollar. joining us bitcoin policy institute fellow and assistant professor of economics, william luther. william, great to have you this morning. thanks so much for being here. what are you expecting from this executive order and how do you think the market changes with these boundaries and regulatory frameworks in place? >> well, i think the administration has been
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foreshadowing this executive order for some time now. i think it's pretty clear that they aren't interested in stamping out cryptocurrencies in general. they recognize the potential that cryptocurrencies like bitcoin and ethereum offer and instead they just want to make sure that exchanges are complying with know your customer laws and that individuals are reporting their capital gains. the sort of regulations that we already have on the books. they just want to make those things a bit more clear. maria: yeah. we want to understand what the boundaries are. for example, what about using crypto in this situation today. ukraine facing a 13th day of deadly attacks from russia. has crypto played a role? >> well, it has, actually. so ukraine has raised something around $16 million worth of cryptocurrency donations. so it's essentially crowd funding its military efforts and
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it's done that using cryptocurrencies like bitcoin and ethereum. maria: and do you think that this gives us another window into usages here? i mean, william, where do you think this is going? are you expecting a digital dollar? >> well, absolutely. i think that even just a few months ago you would have folks talking about bitcoin being useless, that there was nothing you could do with this, that its value was ultimately zero. i don't see how you can make those arguments today. bit p coin allows -- bitcoin allows fast and final payments and if you're facing an existential threat like ukraine is today, then you don't have time to wait around for three days for a bank to clear your transaction. so today it's very clear that these cryptocurrencies serve an important role in the global
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economy and i think that we should expect not just a digital dollar but digital national currencies more broadly as governments try to get in on the game here. maria: yeah. especially since visa, mastercard and pay pal stopped doing business in russia and you're seeing a freeze on russian banks and russia looking to china to step in here and help in terms of issuing cards. william, it's a long and winding story. we appreciate you weighing in. we'll see you soon, thank you. next, we are taking you live to the ukraine border as 2 million people have now fled the country. then don't miss my exclusive interview coming up with former vice president mike pence. we'll get his reaction to the russian war in ukraine and the need for oil and independence in this country. he's up at 7:30 a.m. eastern. ♪♪
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maria: welcome back, total of 2 million people have now fled ukraine crossing the border into central europe as the russian invasion enters days 3. the un is predicting that this conflict could produce more than 4 million refugees. connell mcshane live this morning in eslovaquia with more. connell, good morning to you. connell: it's the speed at which we have reached the 2 million mark which is stunning just about everybody. you are thinking about the people that we are meeting in
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the border today. ten days into the war. they had the make a decision bombs falling around their neighborhoods as they describe it to us, what can i bring with me, how can i fit in the bag and howdy transport my children and the men in the home are not allowed to come if they are ages 18 to 60. think about this in your own family. nobody wants to leave behind family pets. i show you video that we shot a while ago. we see dogs coming across the border. they are freezing cold and maybe haven't had anything to eat or drink hours and hours. a couple of veterinarians volunteering their time down the street where i'm standing trying to help the dogs and the cats and all the animals. it's taking a personal toll on them. watch this. >> i will cry a lot. i cry a lot since the war started. i don't see anger.
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i see thankfullness. i would be grateful for what i have. connell: they have a tent set up so when the animals come in, dogs, for example, are required to have microchip and vaccinations are being waived because of the situation. they are doing everything they can. you look at the numbers, it's stunning again, 2 million, i know everybody is talking about poland getting so many of those refugees but we were looking at the numbers per capita basis, here in eslovaquia is behind poland. moldova is taking higher number when you compared to population. humanitarian crisis spread all around the countries throughout europe. maria: connell mcshane. 1:00 p.m. in eslovaquia.
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next hour of mornings with maria begins right now. ♪ ♪ ♪ good tuesday morning, welcome back. i'm maria bartiromo, it is tuesday march eighth, your top stories right now 7:00 a.m. on the east coast. gasoline at record high as oil surges, russia entering days 3 against ukraine. president biden reportedly now heading to saudi arabia to ask the saudis to pump more oil just days after sending officials to venezuela for the same reason as the president refuses to allow canada to replace the oil and gas with the approval of the keystone xl pipeline. oil extending the surge of yesterday both brent and crude at the highest prices since july of 2008 with the price of brent at 127 and 32 a barrel. up 3 and a third percent. the price at crude of 122.63 a barrel. up two and three quarters percent. gold also being seen as safe
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haven trading above $2,000 for the first time in 18 months. still hoovering around 2,000 right now. up almost 1%. stocks meanwhile are flat. take a look. we are looking at a pretty good rally, dow up 139 points, that's 1 half of 1%, s&p 500 up 20 and nasdaq up higher by 26 this after a tough day with dow and s&p 500 and nasdaq closed at session lows at 4:00 o'clock. nasdaq down 20% from the highment dow in correction territory. it's down 10% from the highs. dow industrials down almost 800 points at the close yesterday. two and a third percent. nasdaq was down 482, 3 and two-thirds and the s&p 500 lower by 127, 3% lower. investors fearing a recession in 2023, european markets this morning are mixed amid the ongoing attacks from russia, ftse 100 in london is higher by
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17, cac is up 88 and the dax index higher by 142. in asia overnight, red across the board, china the biggest hit with shanghai composite two and a third percent. russian bombing civilian targets preventing people from escaping ukrainian cities under attack. russia claims to offer humanitarian corridors but demanding that people exit russia or belarus. the united states sending more troops overseas as president zelenskyy ask americans for help and digs in on defending his land. >> i stay here in kyviv. i don't hide and i'm not afraid of anyone. ly stay here as long as it's necessary to win in our patriotic war. maria: former vice president mike pence is here, he will react live to all of the situation going on at 7:30 a.m. eastern. don't miss the former vice president coming live this morning. mornings with maria is live right now.
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♪ ♪ ♪ time for word on wall street. joining me right now denise garthman, ryan payne and chris markowsky. thank you so much, gentlemen. denise, kicking things off with you, with a market that's bouncing off of a steep selloff, s&p 500 having worst day since 2020, the dow in correction territory, the nasdaq in bear market territory, you've been negative on this market. you've been right. what do you want to do here? >> i want to be the last bearish, i'm almost to the point of turning modestly and i mean very, very modestly bullish for the simple reason that we sold off since january 5th when i turned bearish in the stock market. we have the cn under 13. we might have a bounce.
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that's all it is going to be. it's still a bear market. we will be lower six months from now than we are now. we may be higher over the course of the next several days. we had a huge rally in gold. i'm going to sell a little bit of my own gold this morning into this rally because i think that's due for a modest correction of the downside. probably a little too many people on the bear market in stocks. a few too many people in bullish side in gold so i'm reducing, less bearish than i was in the stock market and less bullish than i was in the gold market just for a day or two, that's all. maria: denise, the price of oil is clearly raising lots of worries whether or not it's going to cut into overall economic growth, market is down 18% on the nasdaq year to date, the dow is down almost 10% year to date, s&p 500 down almost 12%ment on some worries that this oil shock causes a recession, your thoughts on the
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possibility? >> it's not just the gas shock, the oil stock, it's the nickel stock. commodities are higher. i think that is the shock plus the fact that i think the federal -- or the fed has don't in the past and take the yield curve to inversion over the course of next 6 months or a year. will take the overnight fed rates at 2 and a half percent which will get ten-year yield, inverted yield december and inverted yield december you always get recessions. maria: yeah, meanwhile oil prices are up again. we are looking at 14-year highs ryan as you heard yesterday house lawmakers did introduce the bill we were expecting to ban russian oil import. president biden apparently reportedly traveling to saudi arabia, he wants the saudis to pump more oil the way he wants the venezuelans to pump more oil but no word on canada.
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canada suggesting that its oil could replace american's import but he needs to approve the xl pipeline, your reaction to the move in oil? >> yeah, i think bottom line is it's a very small amount that we actually import from russia, it's something like $700,000-barrel a day. u.s. is importing 4.5 million barrels a day from russia. so i think it would be very easy for us to offset if we put sanctions on russia, we don't import their oil, whether we get it from venezuela, it's hard to believe that we are trying to negotiate with the saudis, that's another story altogether but it is a very tricky position to be in because if you ban russian oil that pushed the price up higher and benefit putin who could may be off load oil to places like china and for the democrats and biden it's a tricky place to be because if you push inflation higher and oil places higher, what does that mean for the midterms.
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i did fall off my chair when denise said he would get bullish in the short term. [laughter] >> if you look at the economy in general you need 130 a barrel before it becomes prohibitive to the economy. i still the economy will remain strong. oil prices could go higher but price have gone parabolic, you may start getting some sort of selloff somewhere because prices have ratchet up so much which makes me a little more bullish on the economy than denise usually but we are on the same page today so i will take it. maria: well, look, i'm hearing that there could be a vote on this bill to cut off russian oil this upcoming wednesday but we are watching to see how congress takes this up and who votes for it and against it. chris, the impact of this war on
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ukraine is far and deep and many people expect that we could see china follow russia's lead and invade taiwan. you say that's a mistake, you are not expecting that? >> i'm not for cancel culture but cancel culture most certainly is working against russia right now and i think that the chinese are taking a look at what's happening to them and saying, jeez, this is going to give us a bit of a pause. maybe they might cancel after this, disney might decide to pull out after this. so i think that what's happening to russia right now is going to -- china always works in its own best interest and if they feel, you know what, it's better to do business with europe and the united states than russia, they are going to go ahead and do that. maria: yeah. it's a great point. i think that everybody was surprised by the strength of the ukrainian people and the defiance of president zelenskyy.
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what does this mean for your investments chris? >> well, you know, i'm different than maybe what denise does here. i'm a registered investment adviser, i buy companies. i look at buying companies and not so much buying stocks. i don't look at things six months down the road. i look at things 10, 15, 20 years down the road. i'm buying fundamentally sound companies. freak out over short-term movements in the market to me is exercise in utility. maria: you would recommend buying stocks and selling into strength today? >> i don't try to time what's going to happen next week or next month. i'm not able to do that nor do i know i have been in the history of the planet that can do that so absolutely, you continue to buy high-quality companies on a regular basis and over time you will do well. it's not a matter of if, it's just a matter of when.
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maria: yes, denise garthman, ryan payne, chris markowski, thank you so much, gentlemen, have a good tuesday. much more ahead. my exclusive interview with former vice president mike pence coming up. we will get mr. pence's take on soaring gasoline prices and war in ukraine and new efforts to bring energy back to america. join the conversation all morning long. dagen mcdowell and james freeman, we will get back to this fantastic panel when we come right back. you're watching mornings with you're watching mornings with maria live on fox ♪ ♪ ♪
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maria: welcome back evacuations of war-torn ukrainian cities underway along safe corridors, russian shellings have stopped multiple attempts to evacuate civilians as deadly russian invasion is now entering a 13th day, trey yingst in kyiv, 1:00 p.m. where you are, what can you tell us. trey: maria, good morning, we understand that rescue workers
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are digging through rubble in the northern ukrainian city of sumi after russian air strikes killed 20 people overnight including multiple children and city where many were trying to evacuate and the russians claimed that there would be some sort of humanitarian corridor to do so. it's not just sumi. we are seeing leverage of restriction and devastation across ukraine. west of here oil depo hit with russian shell catching on fire and just plummeting back spoke into the air and this is a familiar but devastating scene n. the southern part of this country in mariupol there are hundreds of thousands of civil -- canfeelances and hundreds are trapped. this is a difficult situation for ukrainian president volodymyr zelenksyy who overnight said he will stay and fight over the ukrainian people. he's doubling down and requesting assistance from the
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international community. they need weapons, fighter jets, antitank missiles and anything they can to push back this russian offensive but as it stands now, there are dozens of civilians diego every single day. ukrainian troops are trying to hold off the russian line and every indication that russian forces will try to move forward and capture the city of kyviy, ukrainian capital in the coming days or weeks, maria. maria: how are you staying safe, what are you doing and what are you hearing from the people around you in light of all of that? trey: a lot of preparation, we have to plan every single day to go out to shoot video. there are checkpoints across the city. ukrainian soldiers are checking document, every single street that you go on. russian forces have tried to make their way into kyiv and are using missions to do so. you have to be vigilant to make sure that you're aware of
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surroundings, follow curfew and carry documents with you every step of the way, maria. maria: all right, trey, stay safe, trey yingst in ukraine where it is 2:17 in the afternoon. we will be right back. ♪ ♪ ♪
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maria: welcome back, the pain at
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the pump may soon lead to even higher prices for goods and services, diesel 4.75 a gallon. kelly o'grady joins us live outside of los angeles gas station with rising fuel costs passed onto consumers, kelly, good morning. reporter: good morning, maria, yeah, we hit a record high for regular gas and truckers are now feeling the cost of the war as well and, you know, you can see behind me the diesel prices are 6.29. now that's in california, that's higher than the national average, we see record high nearly every day but that's particularly concerning when it comes to diesel because folks call it the canary for inflation, national average for diesel has jumped 74-cents from a week ago, 9 cents below the record high hit in summer of 2008. that's 58% higher than a year ago. now the issue was that commercial trucks run on diesel and most tanks are 201 to 301 gallons. just last year truckers were
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paying 8.99 to fill up and now speak $1,425 and that's when total cost rose $40 from yesterday and consumers have next-day delivery expectations. >> the diesel fuel could hit national an average $5 a gallon. that will be directly reflected. this is the inflationary pressure in the price of goods that consumers are buying. everything from your toothpaste to strawberries at the store. kelly: that's why diesel is canary for inflation. truckers don't get the past, it get passed down to super market, retailers and ultimately that hits consumers. diesel trackers, that increase price of wheat, for example. they simply can't afford paying this much every time they go fill up at the pump. and some may get price out of
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the industry, maria. maria: yeah, it is certainly zapping out disposable income. kelly o'grady in los angeles this morning. joining me right now to talk more about that washington congresswoman and house energy and commerce member kathy rogers, congresswoman, good to see you, thank you very much for being here. your reaction to 6.29 diesel and gasoline at record highs this morning? >> we need to flip the switch on american energy. we need to restore american energy dominance. that's the best way that we bring down the cost of gas, the cost of diesel as we heard it's absolutely impacting people's pocketbooks, families, every time they fill up with gas, the truckers that are trying to figure out how they will face for increase costs, costs are going up even before the crisis in ukraine. this only underscores the importance of flipping the switch saying yes to american energy, that's why we are leading -- that's why i've introduced the american energy independence from russia act which would say yes to american
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energy to pipelines, to the keystone pipeline, to lifting the restrictions on l&g's so we can export to europe and give them an option. america has abundant energy resources. we need to unleash american energy to help families to help our economy and to help push back one of the greatest weapons against putin in ukraine and his aggression. maria: congresswoman, we know that a bill was finally introduced. you've been working on this legislation to get america back to being energy independent. when will we see a vote on this, when will it get through, so far president biden is not budging. in fact, he's actually considering a trip to saudi arabia in an effort to get the saudis to pump more oil. he sent officials to venezuela to get them to pump more oil. no mention of the fact that canada likely could replace some of this if he just turned on the spigot of the xl pipeline. tell us about a vote potentially
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for this american energy independence for russia act? >> yes, it's so important. why on earth, why on earth is the president sending a delegation to saudi arabia or talking to venezuela or iran when we could be flipping the switch on american energy, north american energy. we pushed for a vote, we demanded a vote last week. speaker pelosi and democrats blocked it. we will be demanding that vote again today in the house. i'm working with colleagues in the senate to introduce the bill, we need to continue to demand that along with -- along with blocking and stopping the russian import of oil, it must be combined with saying yes to american energy, flipping the switch. it's incomplete otherwise and americans are paying the price at the pump. maria: well, what is the answer from your colleagues on the left? i mean, oil prices are at 14-year highs. what do we need to see,
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200-dollar oil, 300-dollar, what are we going to see so they with get the energy plan aside? congresswoman: my colleagues seemed to be more focused on rush to green agenda, we have led in bringing down carbon emissions and needs to be combined. america has great energy resources, we to restore our dominance. it's the best way that we fight putin's war chest. that's how he funds his military, that's how he controls and this current approach, the rush to green, shutting down american energy is making us and europe only more dependent upon putin and russian oil and natural gas and energy at the very time ho he's attacking
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ukraine. maria: so we are funding the war in ukraine is what you're saying and dagen mcdowell made the point yesterday that the oil in venezuela is dirtier than the oil we could be drilling here. dagen, jump in here. dagen: congresswoman, do all lawmakers need to communicate with the american people and the only way we can truly starve russia and looks like europe is not going to completely cut off energy coming out of russia because it can't function as an economy and i'm talking specifically about natural gas, but also oil. but do politicians need to communicate with the american people that the only way to starve russia is to drive down the price and that means more supply here at home and in mar but also using less. congresswoman: consider -- considering last year the united states of america has doubled our import from russia. russia crude oil coming to the united states has doubled. we need to produce more at home
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and give europe an option. we could be exporting l&g, liquefied natural gas to europe today. we need to lift the restrictions that the biden administration has put on exporting l&g. we have permits, we have plans that are ready to go and europe needs that option. putin is the one that's actually been funding environmental groups and ngo's in europe that are anti-fracking and doing the same in america. america has been leading in clean energy. our oil and natural gas is 40% cleaner than anything from russia. we can be proud of our leadership and we need to be doing -- we need to be flipping the switch saying yes to american energy, helping europe so that they are not so dependent upon putin. putin needs energy and pipeline to control the west, control europe and control ukraine. dagen: i just want to add one thing real quick, the reason that -- one of the reason that is we upped our import of
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russian oil is because of the ban in 2019 by the trump administration on venezuelan oil. just to be clear about that, number 1, and number 2, the private sector in this country and i'm talking about refiners, oil buyers and even around the world, vessel operators, tanker operators, dock workers are already putting a -- in place a ban on russian oil. they refuse to touch it essentially which is what politicians here or specifically the biden administration cannot and will not do. maria: well, unfortunately it would be an admission, congresswoman, that the climate change change agenda has failed and perhaps that's it. once again, it's all optics. congresswoman: america has been leading on reducing carbon emissions. we have done it more than any other country in the world and it's been the biden administration that has been
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shutting down american energy and driving up the cost at the pump and driving up the cost of energy. it doesn't have to be that way. we stepped into a trap that putin set and it's our greatest weapon against this aggression in ukraine. we need to flip the switch to american energy. maria: yeah. congresswoman, thank you so much. kathy rogers joining us this morning. former vice president mike pence has a plan for all of this. he will join me in my exclusive interview when we come right back. ♪ ♪ ♪
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maria: welcome back, president biden reportedly planning traveling to saudi arabia to pump more oil and venezuela the same as canada says it can replace russian import. both brent and crude hitting
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highest prices since 2008 now at 122.12 a barrel and brent at 126. new effort from former vice president mike pence who is launching a new campaign to bring energy independence back to america. joining me right now the man himself, mike pence. mr. president, great to have you this morning. thank you so much for being with me. >> thank you, maria, good to be with you from israel, in fact. maria: i want to ask you about israel because i know that the prime minister has spoken with president zelenskyy as well, traveled to moscow but first let me get your take on this war, mr. vice president. we are watching death and destruction every day. could the u.s. and the allies be doing more to stop vladimir putin? >> well, maria, the truth of history that weakness aroses evil. when you look at the record of this administration it's almost
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inarguable that the unilateral capitulation of north stream two, the disastrous withdrawal of afghanistan all created the conditions where putin felt emboldened to once again redraw the lines of europe by force. but make no mistake about it, the only one to blame for what's happening in the russian invasion in ukraine is vladimir putin and putin must stop or must putin must pay and it's absolutely imperative as i met today with the president of israel, with the prime minister of israel, it's imperative that the free world come together, that we find ways to arm the people of ukraine to be able to defend their nation and their territorial integrity and the time has come for us not just to sanction financial institutions but the time has come to sanction all oil and energy exports from russia. energy is the life blood of the
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russian economy and we are calling on -- on our congress, calling on this administration and we are calling on nations around the world to join us in -- in an international embargo to bring to kind of pressure that we must bring to bare if we hope to stop this mindless, senseless russian invasion of ukraine. maria: and yet the administration has yet to say that a bill was brought to the floor yesterday in terms of cutting off russian import. we don't know when that vote will take place. i'm hearing possibly wednesday. but the biden administration is asking our adversaries to pumping more oil. he's reportedly considering saudi arabia, venezuela and i want to get your take on this idea that we are eminently going to see a new iran deal. you just said that you spoke with the leadership in israel. the president has talked about potentially getting oil from
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iran. what are your conversations about that? >> well, there's a great deal of alarm here in our most cherished ally israel that the idea that continues to drive to relive the disastrous iran nuclear deal and more offensive, maria, when you think that we are working directly with russia in an effort to revive that deal. it was -- it was bad to begin with. it was dangerous at the time. president trump was right to rip up the iran nuclear deal, but now in the environment that we are in today, the very idea that we would -- that we would look to purchase oil from iran, to purchase oil from the dictator maduro in venezuela, all the while that this administration continues its war on american energy. you know, it is really remarkable. i don't have to tell you, maria, that in the four years of the
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trump-pence administration we achieved energy independence for the first time in 70 years. we were a net exporter of energy but from very early on with killing the keystone pipeline and taking federal lands off the key for exploration and signing leasing and before ukraine ever happened, we saw rising gasoline prices. so the answer here is number 1, stand firm as the united states and have the free world join us in cutting off funds to russia in their energy exports. we need to put those sanctions on but at the same moment president biden and this administration must unleash american energy and stop going hand in hand to places like venezuela. i hear that president biden may be headed to saudi arabia to ask them personally to pump more oil
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and for heaven sakes let's -- let's offline any further discussion of the iran nuclear deal for the sake of israel's security and frankly in the recognition that now more than ever we should not be dealing with the aitola's in iran and putin in moscow in lifting sanctions or pressure that we placed on iran. maria: what kind of response might we see from israel if, in fact, we were to see the u.s. back in this iran deal? honestly, we are hearing it's imminent. >> well, i have to tell you, in meeting with the president of israel this morning and meeting with the prime minister, israel has made their position clear that their categorically opposed to the iran nuclear deal. all kinds of reasons to be and when our administration tore up the deal it's because we recognized that not only did it
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not prevent iran from obtaining nuclear weapon but guarantied that would be able to obtain a nuclear weapon in ten years. the reality that we would lift sanctions in the immediate short-term and see billions of dollars flow in to iran also will continue to -- to foment the kind of violence that was characteristic of the region before our administration came into office. that's the concern that i heard from leaders and from ranking file citizens here in israel. but beyond all of that, again, maria, the idea that we are negotiating actively with russia in viena to revive the disastrous iran nuclear deal as their tanks are rolling over innocent civilians and the people of ukraine is unconscionable. it has to stop and for all those reasons, this administration should abandon any future effort on the iran nuclear deal. let's focus on giving the people
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of ukraine the support that they need to defend themselves. let's isolate russia economically particularly with regard to energy and for heaven's sake let's unleash american energy and restore america's role in the world as a leading energy provider. maria: yeah, it's absolutely extraordinary, mr. president, that russia is the mediator on behalf of the united states in the viena talks. i want to get one more question in given you are in israel on this topic and then move on on how we are going to unleash energy to america. your thoughts on this potential new idea, a pipeline israel to europe? >> well, any additional infrastructure investment that allows for the transfer of
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natural gas both into europe and into israel would be welcomed news. remember, not only were we a net exporter of oil but also of natural gas and during our administration we were actually in discussions with several european countries about improving their ports, improving the ability to import american natural gas, but it's amazing to think that among the missteps of the biden administration after we had sidelined the north stream two deal. a plan to build another natural gas pipeline from russia into the heart of europe, the biden administration unilaterally approved it and it wasn't until the russian tanks were rolling into ukraine that they pulled back on. it was a mistake from the very beginning. what we ought to be doing is tieing the free world together from the perspective of energy, tieing europe and israel together, all of that. that's for the prosperity of
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freedom and the world and also it'll contribute to american prosperity for generations to come. maria: well, you mentioned the xl pipeline. let me just say, mr. vice president, it was on day one that he started reversing your policies along with president's policies including the climate change agenda as the priority. in the middle of all of this, vice president kamala harris is apparently going to poland and in doing so she is continuing to push this switch to electric vehicles. here is what the vice president said yesterday, watch this. >> we are all in the midst of a turning point. we have the technology to transition to a zero emissions fleet. we can address the climate crisis and grow our economy at
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the same time. maria: she said her favorite subject is electric school buses. >> maria, i have to tell you the dogged focus of this administration and the liberal left in the democratic party on their climate change green agenda even if the face of a russian invasion of ukraine is just astonishing to me. i mean, the idea that they would see this as an opportunity to get even more impetus to the american people and telling people to buy a 75,000-dollar electric car when gasoline is $4 a gallon that that's somehow the solution, it's pretty absurd. we know the pathway forward to american prosperity. it's american energy independence and we know the
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pathway turning back the russian aggression that's trampling innocent lives and our economy is 15 times larger than the russian economy. we were net exporter on energy. we can impose embargo on oil and natural gas from russia. we can unleash american energy, we can turn back the tide of the russian military by bringing economic pressure for heaven's sakes, the time is now for this administration to at least take a time-out on their climate change agenda and embrace american strength and american energy. maria: well, especially since we are in an energy crisis right now. mr. president, what more can be done at this point? you've met with president zelenskyy, you know vladimir putin, can you talk to us a little about these gentlemen? i mean, vladimir putin has --
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has made demands saying that he does not want any nato involvement whatsoever, he does not want ukraine to be part of nato. what are your thoughts on vladimir putin right now and his mindset? >> well, having -- having stood toe to toe with president putin myself, i can tell you vladimir putin only understands strength. i truly do believe that the reason why our administration is the only american administration in the 21st century where putin did not try and grab land and redraw international borders by force is because he saw american strength. we rebuilt our military, we strengthen our common alliance, we called on nato allies to invest more in our common defense and -- and we built up american energy and american energy exports all as we stood with our allies.
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i think it was that strength that was -- that was a deterrence to putin's ambitions and it's the pathway forward but i must tell you i did have the opportunity to spend time with president zelenskyy, i have to tell you that i -- i share the admiration of the world for his personal courage, for the stand that he's taken. i have to believe that putin and the russian military got more than they bargained for with the strong ukrainian people and with the strength that president zelenskyy has shown and now it's the time for the free world to stand with him to provide the ukrainian military with the resources and equipment that they need to defend themselves and repel the russian invasion and more than anything else, we have to impose that oil and natural gas embargo, unleash american energy and call as i did today here in israel and
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call on our allies around the world to join us to put a maximum pressure campaign on russia. i go back again, maria, vladimir putin only understands strength and standing strong with the people of ukraine, giving them the ability to defend themselves and -- and redoubling our commitment to a strong and prosperous america is -- it's a pathway forward. the stability in europe and end to unspeakable violence that's ransacking across ukraine as we speak. maria: is there anything else that the u.s. and nato allies can be doing to help ukraine? it is absolutely heartbreaking to watch this constant death and destruction now for 13 days. >> well, it's so important each of us -- i breathe the prayer
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and karen and i visited the wall here. it's also important that we recognize almost a million and a half ukrainians have crossed the border, are now in hungary and poland. there are organizations like the international red cross, like samaritans purse and other relief organizations that are literally on the ground aiding those families and so while we call on this administration to take those steps that will demonstrate american strength and utilize all the resources of american energy, pull together our allies to support ukraine, i just encourage every american to pray and -- and as you're able to be generous to these organizations that have come alongside the families and let them know that the american people are with them and provide for them in the hour of need. maria: mr. president, you were
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instrumental in the talks in the middle east. of course, the abraham accords as well as moving the embassy. your thoughts on where we are today with biden's foreign policy after the botched withdrawal. we saw china and russia partnering up on a number of levels. >> well, there's no question that the disastrous withdrawal from afghanistan has emboldened the enemies of the united states and our adversaries around the world, but now is the time for us to make it clear that we are going to stand with our allies and stand up to our enemies. i must tell you being here in israel today, my first time back since the abraham accords were signed to see the progress toward peace that happened under our administration but it was all predicated first and foremost on -- on the way that
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we isolated iran as never before. that's why one of the reasons -- i just -- it's incomprehensible to me, maria, that as we see war ravaging across ukraine. russian invasion in ukraine, that this administration continues not only head long rush in climate change agenda but head-listening rush to lift sanctions on iran and set the table to be buying table from iran while we are cutting off oil and gas exploration in the united states. we have got to seize on the progress that we have made. it made peace possible with the abraham accords. that's what i've heard everywhere i've gone in israel. maria: what do you want to hear from germany? of course, during your administration president trump and yourself pushed germany to pay more in terms of nato, to pay more for its own defense.
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in fact, it has now announced that it will increase defense spending. are you vindicated and what is the story in terms of germany's pushback? it relies on russian import, would that be the barrier to stopping russian import. >> maria, there was so much criticism of our administration when president trump and i made it clear that we wanted our nato allies to live up to their commitments. you'll remember at the seem we saw $130 billion more in investment by our nato allies in our common defense. those are investments that are contributing today to a stronger nato but the fact that during our administration germany had -- had put a ten-year timeline, said it wouldn't be until 2030 and that they would achieve the 2% goal that hay had agreed to years earlier was a source of frustration, but i want to give chancellor scholz credit, the people of germany credit that
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now that they have made the commitment to spend 2% of their growth domestic on our common defense and transferring weapons to the people of ukraine. germany is the economic power house in so many ways of europe and to see germany stepping up to assist us in providing for common defense. it's one other way that putin got more than he was bargaining for. i mean, i honestly think he underestimated the courage of president zelenskyy and the incredible courage of the ukrainian people. but also it's -- it's clear to many of us that putin was anticipating division in the west. he saw nato as a weakened alliance but i believe the work that our administration did, the work of building the alliance and making our expectations clear to nato has now created an environment where nato frankly has come together as never before and -- and to those who
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want to lay the blame for the russian invasion in ukraine on the expansion of in theo, i just simply ask, where would our allies in poland or estonia, lithuania would be today if we -- we should expand boundaries of freedom in europe and elsewhere around the world. maria: mr. vice president, a wordon 2024. do you want president trump to get back on leadership? >> all of my focus right now is on 2022. we have a historic opportunity to reclaim majorities in the house and senate, to elect great republican governors around america and in 2023, i'm confident the republican party will nominate a candidate who will be the next president of the united states of america and at the right time, my family and
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i will reflect and consider how we might participate in that process but now more than ever with war in europe and with an administration seemingly intent on weakening our country, driving our nation toward european welfare state, we need strong republican majorities on capitol hill and strong republican governors and that's what we are going to work to achieve. maria, mr. vice president, safe back home and congratulations on the award that you are receiving in israel. good to see you, vice president mike pence. we will be right back. ♪ ♪ ♪ we got this. we got this. we got this. we got this. yay! we got this. we got this! life is for living.
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. >> welcome back. good tuesday morning. thanks so much for joining ulgs i am maria bartiromo. it is tuesday, march 8, top stories right now gasoline record high oil surges stocks hit correction territory as russia enters a day 13 of war against ukraine, president biden reportedly to saudi arabia to ask saudis to pump olive after officials to venezuela, former vice president mike pence just reacting he encouraging oil independence in united states president biden reduces to allow is to replace oil with approval of the keystone pipeline moments ago i spoke he with o former vice president on america's next move as war rages.
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>> the only one to blame for what a is happening in the russian invasion in ukraine, is vladimir putin, and putin must stop or putin must pay the time has come to sanction all oil and energy exports from russia, oil extending surge brent crude hitting highest levels since july 2008. the price of brent 125.86 up better than % crude oil 121.5 up 1 3/4 both are off the highest levels of the morning gold prices also trading up about 2,000 dollars for the first time in 18 months hovering 2013, gold is seen as safe haven, in this market. markets this morning, are react being the dow industrials well off the highs of the morning, still higher though the dow up 26 s&p
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higher by , nasdaq has turned negative the nasdaq down 22 points right now extending sell-off from yesterday the dow s&p 500 lows nasdaq in bear market the dow in correction territory, bear market 0% down from highs, correction, 10% down from highs, and this is where we find averages dow industrials down almost 800 points the close yesterday, 2 and a third percent nasdaq sold off 482 points, 3 2/3% the s&p 500 down 127 at the close almost 3% investors fearing a recession given spike in oil prices in 2023, european markets this morning are higher, fractionally, even with the ongoing attacks from russia ft 100 down flat cac quarante up 43 dax higher by 29 in asia overnight red across the board, china takes the biggest hit, down 2 and a
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third percent on shanghai composite, russia bombing civilian targets preventing people froms escaping cities under tactic russia claims to ufr humanitarian cords the demanding exit mu russia or belarus united states sending troops overseas as president zelenskyy digs in. >> -- stay in kyiv, i don't hide not afraid of anyone i will stay here as long as necessary to win in patriotic war. >> very allocates coming up all morning long "mornings with maria" is live right now. >> morning he mover nico record highs to more than 100,000 dollars ab metric ton commodity prices soaring as you russia's war on ukraine faces 13th day london metal xiej suspending nickel trading following the spike lme says
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trading suspended at least the remainder of the day, as they are monitoring the situation, with nickel up 59%, in the premarket futures this morning pointeding to a mixed opening after a steep sell-off yesterday, the dow industrials higher by 56 s&p is up 7 1/2 nasdaq turned negative, down nine points all averages well off the stronger performance about an hour ago, s&p 500 yesterday, a hit a worst day performance since i october 2020 down almost 3% on the session, dow entered correction territory i can say after on 800 points yesterday, and nasdaq is now entering a bear market down 0% from highs yesterday down 3 2/3% decline 482 points, as you can see, the dow down almost 800 joining me to talk more about investing, in this climate wells fargo institute head of global market strategy paul christopher joining the conversation all morning long
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this morning dagen mcdowell, james freeman, great to see everybody, paul thanks very much for joining the conversation, your reaction, to the numbers, with oil, at highs what will the impact be on markets and on macroeconomic story. >> speculation going on in commodity markets right now a lot of worries about what inflation will do to consumer price inflation to recession, owl our view that we will be have a growth year especially here in the united states you can get into reasons why, but certainly, the risks recession rise the riefksz of federal reserve not making a making raising rates too much that risk rising. >> so has the spike in oil, affected the fed plan already we see that market is no longer expecting a half point hike, on march 16 the fed next meeting but a quarter point hike, do you believe that this situation has changes or tempered down the fed
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expectations on a string of multiple rate hikes? >> yeah very definitely, we've been saying since beginning of the year seems 10 years ago now since the beginning yeefrt that we thought fed would have much less room to raise rates this year than the market thought, we were thinking four the market , 8, 9 even we think that comes down the markets starts to price out some fed rate hikes fed has to be more category café about removing oxygen from the room. >> 14-year highs you heard the house you lawmakers introduced a bill to ban you russian oil imports, i am hearing that we could see a vote this weeking so far biden administration refused to open up the spigots in the u.s. what does this mean? in terms of of investment, russia is warning that it will close a major gas pipeline to germany, raising the possibility of 300 dollar a barrel oil, if the one of the
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bans energy exports what do you want to do as investor here? >> yeah, as investor here, you want to focus we think on u.s., it is not clear, yet how the political situation will resolve its probably some compromise needs reformed in terms of providing more emergency from other swlours opec, or the u.s., we hope not this iran, but from some other sources, but for the u.s., investor, remember that u.s. much more service oriented than europe and asia we've a strong job market continues as reopening from covid continues that is the main driver of both here we like u.s. first and then would stick with quality, we would stick with the large-cap stocks those were goods balance sheetsdz low debt ratios to cash and we could stay large caps mid caps we favor in sectors still like tech buying opportunities
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there as year goes on, we like -- we like -- financials we like industrials for balance there communication services would be in the tech sector to have there but quality in the portfolio the way to go. >> we don't know if we are actually going to see the xl pipeline get revved up again drilling on the program lands overturned the ban there but paul we do know that -- the administration, is considering asking saudis to pump pore oil. not sure if an effect on oil prices but you are talking about 14-year highs as an investor do you want to buy the energy companies today? or have valuations about many excessive. >> will valuations look strongly driven by speculation we were neutral on energy into this we are going to stay with neutral on energy but we do
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like a broad-based commodity position, overweight we have been there about two years, that paid off nicely, we think investors should consider may be dollar cost averaging to get the into commodity position no great to have insights on this thanks so much investing, in dangerous world we so appreciate it paul christopher joining us from wells fargo much more ahead the war in ukraine, intensifies, as president zelenskyy sense a defiant message we will take you live to ukraine, when we come back former u.s. ambassador to performance and is here on her relationship with president zelenskyy, you are watching "mornings with maria" live on fox business. . . on travel purchased through chase with chase freedom unlimited. that means that i earn 5% on our rental car, i earn 5% on our cabin. i mean, c'mon! hello cashback! hello, kevin hart! i'm scared. in a good way. i'm lying. let's get inside.
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you can experience better hearing with no obligation. call 1-800-miracle right now and experience a better life. . >> maria: welcome back, evacuations war-torn ukrainian cities russian shelling stopped attempts to evacuate civilians as dead invasion
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13wersth day trey yingst live in kyiv this morning, good afternoon to you what can you tell us? >> maria good morning. the russians continue to target civilian areas with shells also cruise missiles overnight airstrikes in sumi killed at least 20 including multiple children rescue workers digging through debris trying to look for survivors from strikes it comes as civilians are trying to get out of the line of fire yesterday, we were on front lines talking with people leaving lives behind. >> there is a large group of civilians now fleeinging the city of -- holding white flag let russians know they are not a threat simply trying to get out of the city. >> life broken forever you have no hope. >> they've been walking for miles, tells us she tried to shield, young daughter as they
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passed by in war-torn streets. >> he everyone tells us -- disaster, and it is -- dies, many there in our town, many dies people just like on thetha soldiers crouch down worried about russian snipers they tell civilians hurry stay low evacuations for people has become much more difficult -- shells at this position. >> even, conflict over there in other end of city kyiv. destroys everything, so that yesterday four people killed as they left kyiv. residents say russian troops pushed forward drove tanks through streets. >> told us to go because -- bomb start to go we felt -- houses, threatened. >> russia said they are not targeting civilian areas the
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sound of war -- just two weeks ago things normal tense people knew a war possible now country is just consumed by conflict. >> trey yingst on the ground in kyiv, this afternoon, thank you, trey yingst, stay safe dagen mcdowell, james freeman with me in morning, dagen your reaction. >> watching those pictures, i think that every american, looks at what the ukrainian people are going through, many of these ukrainians leaving homes belongings, being even leaving behind loved ones, and may never see them again may in over return to the life that they he so enjoyed, it is just he heartbreaking i think, our love of freedom, and
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patriotism makes us connect certainly with the spirit of the ukrainian people in a way that is truly profound. >> have james i think it is true, that russians were not expecting this fight vladimir putin not a this was a going to be over shortly in fact, ordinary ukrainians arj up president deciding deciding defiant digging in. >> showed tremendous courage all people ukraine as well, i think also to this point in the conflict revealed a lot of people veeflt over estimated effectiveness russian military doesn't mean they can't still, loss horrible suffering from people of ukraine i think the answer is continue to help ukrainians tighten economic
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sanctions on russians avoiding direct conflict a no fly zone, but, it is really remarkable, we think about 2 people we've heard from on the show, this morning, last week, administration continuing to refuse sanctions against russian energy industry, while essentially sanctioning u.s. industry, the -- the delays in this absolute refusal to consider more american energy production and now going to saudi arabia, apparently, definitely more friendly regime than russia venezuela, this again is a dictatorship that does not produce energy cleanly you have to wonder if president is asking again what a saudi arabia is going to want in return for increased production, to this point they've not wanted to do. maria: . >> joe biden should have day one had a big public summit
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with our energy producers. and stood by them talked to american people, about what we're going to do to increase supply take power away from russia, and really try to have a -- well, not churchilian but a moment with american people talking about cutting consumption not doing that because, he sides with u.s. energy losses a scapegoat purely political, embarrassment. >> we are waiting on any official word that, united states will cut off funding and cut off imports from russia, the calls getting louder we will wait to hear from white house quick break funding putin's war with your pensions! ohio attorney general david yost, here to divest pensions from russian based investment, back in a minute. .
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maria: we are waiting on a ban out of russian oil imports we are waiting for any confirmation from the white house, meanwhile, he ohio attorney general david yost is calling on all five of the states public pension systems to divest all russian based he investments from portfolios in response to moscow's invasion
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on war on ukraine, between all five states public pension systems russian investments make up 300 million dollars, joining me right now to discuss this is the attorney general of ohio, david yost, great to see you. thanks for being here, this is a -- one of the he levers this administration could pull leverage because many investors may not even realize that their pension funds their etfs are holing russian companies in effect funding putin's war on ukraine, your thoughts? >> well that is exactly right. the capitalization of you russian companies, is helping their economy to continue to run where money comes from for this war, of conquest. you know we had to look we didn't know and wasn't obvious at first how much we have in
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public pension funds invested just from ohio in russia, as i mentioned about 300 million dollars. >> well, what about the companies tied to the chinese government you are talking about state pension systems divesting from investments in rogue countries like russia, what about china, of course, has companies trading on u.s. exchanges even though don't follow the same auditings rules the companies many are subsidized by ccp. do you feel the same about chinese companies in indices pension systems? >> well, i will tell you i sure will. if they embarking on war of conquest, for example, to take taiwan. the use of war not in self-defense but to companion national territory is a
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centuries old kind of tactic we thought pretty much gone, now there is a lot of reasons to consider divesting from china as well. not to -- the least of which is ethnic minority within borders. but there is quantum level of difference between your internal activities that are morally object rejectable i've gone and a war of conquest. maria: ag yost feels we are not sufficiently punishing vladimir putin is for invading unprovoked peaceful country of ukraine, i mean let's face it there are scores of millions of americans hold companies like gazprom many others tell me about indices why they hold companies even as investors may not realize what their
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owning and buying. >> that is a great question. i wonder where all esg activities are at this moment russia's actions far worse than anything they've been calling for devestment for, beyond that -- has a substantial ukrainian population people them a have zest zecended from the ukrainian stock public competentlies pension savings are being used to help callize the russian war machine, don't even know what we could say to those people. to think about their homeland, ancestral homeland invaded perhaps supported with capital from their pensions.
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and i daressay that would apply across the entire broader economy. maria: a great point that you make, the ukrainian population in ohio, ag i am with james freeman from the "the wall street journal," james jump in. >> thanks maria, thanks -- this is kind of intryinging the i believe tomorrow the russians are hoping to open their stock market if ohio and other states are putting in all these sell orders is it possible they won't be able to reopen until putin decides to relent? >> yeah, perhaps you can tell me i don't know if they've got automatic circuit breakers in stock market system that kind of crash that you are describing, might close it back down, but i think that is a definite possibility.
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maria: we will leave it there ag yost thanks very much for leadership on the subject, we will check back, as news develops thanks for being here. >> thank you. maria: okay o ohio ag yost, coming up ukrainian president zelenskyy standing strang, defiant we have reaction, from the former u.s. ambassador to poland her personal experience with him as millions across the border biopoland this week. stay with us. . 97% of ameriprise clients say they feel like their advisor cares about their ability to achieve goals. ameriprise financial. advice worth talking about.
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maria: welcome back at the freedom convoy on expected to disrupt traffic in washington, d.c., for a second day, cheryl casone with details there cheryl. >> have that is a right good morning, again pentagon announcing national guard troops on alert today group continues o protests, in day capital over covid mandates restrictions the convoy driving minimum speed limit on highway causing traffic snarl around the beltway a second
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day more than 1,000 trucks demonstrating getting powerful support, republican senator ted cruz of texas ron johnson wisconsin, they are going to meet with truckers to discuss the quote harmful effects of biden's mandate. >> vice president kamala harris pete buttigieg called tone-deaf promotinging electric vehicles clean transit nation dealing with high gas prices biden administration pushing for 3.7 billion dollars in funding public transportation say money would help environment natural average price now 4.17 a gallon we have seen as reporting here 6, 7 dollars and more, that in california other parts of the country as welmoed pledging it no never enforce patent for covid
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vaccines, middle communicate countries honoring that looks like company is enforcing in have developed countries like united states down more than half a percent announced plans to begin humanity trials for vaccines against 15 potentially new adviser yourses wants shots made quickly to respond to future pandemics. there is this a story of several american heros going viral this morning, caught on camera police officers, dropped from second floor burning apartment building watch this. >> -- >> -- new jersey first responders, dropped three-year-old son out the window, then jumped out
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himself officials say both child an father were treated for minor injuries maria, some of the other headlines watching from here for you back to you. maria: wow! wow, wow, wow! thank you for first responders, how wonderful. >> good story, ending thank you. >> is it unbelievable, all right. we are looking at russia continuing its bombing of ukraine civilian targets as well preventing people from escaping, ukrainian cities under serious twuk russia claiming to offer humanitarian corridors, demanding that those people mass through russia or belarus to exit ukrainian president zelenskyy continues to be defiant standing strong, sharing location on instagram yesterday. >> -- i stay here in kyiv, i don't hide i am not afraid of anyone i will stay here agency long as it is necessary to win in our patriotic war. maria: joining me right now
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former u.s. ambassador to poland georgette mosbacher, thanks for being here this morning i know you know, pet zelenskyy personally. tell us about him he has really inspired the world with courage. >> you know, maria -- i first met president zelenskyy, i met him several occasions had opportunity to spend time with him most people including leadership of europe didn't have a great deal of respect for him they just -- the jokes about him being tv comedian, rampant i must say i was -- i was impressed with the man he was very thoughtful extremely articulate intelligent man but even i was surprised on how he rose to the occasion to be the leader that he is.
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and he has been an inspiration. i do think people under estimated him from the very beginning. because the time that i spent with him particularly his team, very smart, capable, team of advisers around him he was very dedicated clear vision of his country in that respect, i am not surprised that he truly has risen to the occasion although history tells us some we do underestimate, to rise to the occasion become a great leader. >> georgette i want your take on entire situation here, how you see it. what more can be done? we are waiting to hear from the white house. we have been reporting all of the calls that are getting
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loudr to announce a ban on russian coil imports day expecting president biden to do this day we understand now that he will be speaking live this morning at 10:45 a.m. eastern time. we spoke with former vice president mike pence a while ago who urged the white house to a institute a ban on russian oil if you can believe this,extraordinarily as putin continues this war on ukraine, we continue to buy russian oil here in the united states and we have russia, as mediator for the vienna talks, where russia is actually -- negotiating on u.s.'s behalf, your thoughts on a ban on you russian oil o potentially. >> i -- this is this is difficult. because we are sending 75 million dollars a day, to russia, to imports. their oil -- the eu depends on
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their gas 40% eu gas comes from russia, this is a subject that is kicked around europe i can tell you as ambassador -- a lot of deals in poland poland didn't put up any terminals on baltic sea so there were very thoughtful about this the truth is the eu has been dependent on russian energy a very long time this is not going to be easy for them, early last month i think it was, eu -- made both nuclear, and green until then, you couldn't get financing even for that. look, this is -- we are spending a lot of money towards eu i think they do need to ban it. but we really have to rewrite
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this is going to be painful, we have the ability in this country, to make up for a lot of this, we are energy-independent. we can do this. but it is time for eu to get a concerted policy together on this. here is -- like it or not -- this without nuclear, nuclear is the only solution to guarantee carbon neutral energy going to have to accept that accept the fact that lng is a bridge tool so we can get carbon. and we have to do much more. maria: ambassador we are looking at price of oil right now, oil prices have been rallying on speculation that 10:45 joe biden will announce
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that there will be a ban on russian oil that will include lng, coal, i want to say that this report, is saying that a while it will ban russian oil will do so without the participation of european allies so you are spot-on in terms of the reliance europe has on russia, the u.s. expected to announce a ban on russian oil lng coal without the participation of european allies ambassador. >> now, i think that let me -- look -- 40% dependent on russian energy, and in the middle of winter, correct? i don't see -- this is difficult you can't just overnight -- um -- >> to this, when you see for instance what germany is going to do going to close down
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nuclear facilities, will cut down on ability to have clean energy, they're in a difficult spot we have been talk being about this for a decade i can tell you i spent 20% of my time as ambassador on these energy issues i was just -- two weeks ago in bulgaria meeting with president of bulgaria what was a meeting about? it was about energy. how you become energy-independent. here we to this spot now look at putin. >> canada can pick up slack but president biden, of course, as we all know canceled xl pipeline day one of his presidency. ambassador always a pleasure to catch up with you, thanks very much for being here this morning, georgette mosbacher joining us this morning on the deadly war on ukraine, quick break taking down the russian
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oligarch hear from one officer says cracks issue starting at to appear as sanctions drain the wealth of moscow's elite, that is next. . . it imbalanced and exposed when performance varies. invesco's s&p 500 equal weight etf, rsp, is spread equally across the s&p 500, which reduces potential concentration risk and helps keep your portfolio in balance. stay in balance with invesco's rsp. and helps keep your portfolio in balance. every big idea every game changer every "how'd they do that?" starts here the blank page artists and writers know the tyranny of it well but so do developers, data scientists, ctos the new creators to them, we say let's create something that changes everything ♪ ♪ ♪
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. maria: welcome back, european
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union reportedly preparing new sanctions package grirnz and belarus over invasion of ukraine the measure hurting russian oligarch biden announce would target 8 you russian elites in fully blocking sanctions last week joining me author of once upon a time in russia rise of oligarchs, great to have you this morning thanks very much for being here, what do you think about sanctions against oligarchs you are say we are starting to see cracks as oligarchs speak out begins putin's war. >> yeah i mean two weeks ago i would never have thought we would see people like oligarchs, living for lavish lives billions of dollars, speak out against putin their, in russia never expected this do i think sanctions having an
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effect entire lives fallings all around them. maria: go ahead. >> oligarchs people essentially come to power in 1990s, taken all resources of russia, by yeltsin handpicked them, they grew to be a massive powerful putin pulled it over on them became most powerful oligarch of all past 20 years or so they've been under putin's umbrella basically now you are seeing sanctions go after planes, boats, kids kicked oustz schools loving town houses no london mansions in florida do they have power to make putin do something different on a separate issue. >> let me ask you, i money how this affects vladimir putin we have reported in the past that vladimir putin may be richest
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person in the world because he takes stakes in all these companies. how does hitting at the oligarchs hit at putin? >> yeah, well the oligarchs in 0's yeltsin was dying oligarchs decided to replace him went to st. petersburg found low level kgb agent to help set up a car dealership that is all he was he switched it will over invited them to the house place where bullet holes in the walls used to line people up sat oligarchs down said you made a lot of money you can keep your money but from here on out stay out of my way oligarchs staying out of his way the ones today the otherss found hanging or elevator shafts, the ones in
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power, perhaps they can retake that power find a way to push putin back. james freeman jump? >> can't be that much month to be a multibillionaire if not allowed to spend money outside russia, the sanctions so far, do they need to be extended the war oligarchs or do you think right people are list will theed or listed a question of mote vaiting them. >> a great question i spent a lot of time with guys has what is important to them respect of the world they want to be respectable, buy properties because they want to be part of the international community. they live in london, new york, not in moscow they want to be safe secondly want to be part of this community, going after oligarchs smart way to go around, around putin because these are guys who certainly
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put him there the guys hopefully can find way to take him out do i think that extended more take away livelihood the respectability they are going to be doing more, i think a viable attack one doesn't voluntarily guns, tanks and weapons, i think very smart, it is -- it is going to have an effect. maria: all right, great to get insight, latest book the midnight ride is out on book shelves right now check it out, we will be right back, with one 19-year-old tracking oligarchs. stay with us. . uations, i'm covered for everything. which reminds me, thank you for driving me to the drugstore. earn big time with chase freedom unlimited with no annual fee. how do you cashback? chase. make more of what's yours. ...
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maria: welcome back. well, a 19-year-old from florida tracking russian oligarchs after creating a twitter account to watch elon musk's private jet, now he's watching a $200 million yacht in croatia, belonging to one of putin's pals who may have fled ukrainian house arrest when russia invaded ukraine. joining me is jack sweeney. jack great to have you wow what moves you're making. tell us how you're doing this. >> yeah, so i mean, planes and vessels and yachts can all be tracked using various data that is public, they all transmit their location and i'm able to track them that way. maria: and what information are you getting, jack? tell us what you're doing with
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this info and what you've learn as a result of tracking these oligarchs? >> yes, so i've looked up who owns these aircraft and yachts and i've been tracking them and based off of that you can see where these people go, basically. there's been quite a few flights the past few days with the russian oligarchs, there hasn't been any flights in just the past two days but the latest one was leonard blatnovic, who was from england from what i can tell from the private jet. maria: so where are they going? are they largely going to places like london and england? where are the oligarchs fleeing? >> all over the world. dubai, some in leonard blatnovic was in the united states, and some are actually going back to moscow. maria: i see. james freeman, jump in here. >> yeah, it's interesting, in terms of the effect of sanctions
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if this is a pattern going forward that they're going home to moscow or to other places in russia, because they're finding it inhopipable in other parts of the world, i guess that's a trend you're seeing, jack. >> yeah, and a lot of them the jets aren't registered in russia so they can fly wherever they want. maria: really fascinating, jack sweeney thank sos much for being here, we'll be watching your tracking of those oligarchs, nice work, jack, thank you. >> thank you. maria: jack sweeney joining us today. once again the breaking news of the hour, we are waiting on president biden to speak at 10: 45 a.m. eastern this morning, we are expecting the white house to announce a ban on russian oil , coal, and lng without the participation of our european allies, of course europe is reliant on russian gas take a look at oil here, with brent now at $130 a barrel, up
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5.5% the price of crude is at 125, that is up 5.25%, stocks are mostly higher although well off of the highs of the morning. that'll do it for us, dagen mcdowell, james freeman, great to have you both thank you so much for a great show. the news continues as we see nickel topping $100,000 a ton, and markets on the move in the face of day 13 of this war. "varney" & company begins right now, stu take it away. stuart: yeah what a day good morning, maria and good morning, everyone. have we got a headline for it a new all-time high for the price of gasoline, $4.17 is the national average for regular , we've never paid more. it'll cost the average family an extra $2,000 a year. diesel has gone up to $4.75 a gallon, just a few cents short of its record high. this is energy price inflation and it will ripple through the entire economy. the price of oil going up some more, we're now


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