tv Cavuto on Business FOX News December 31, 2011 7:30am-8:00am PST
>> bullish, 14-7. >> jonas. >> get off-- >> 13,000 on the button. >> and jonas was only 33 points away from last year. aen in one year, he made it. he was the winner. happy new year to everybody! >> talk about a pain in the gas to start the new year, hello, everyone, i'm charles payne in for neil cavuto. and talks about iran over the top, stopping any one from passing through the straits of horm hormuz. and putting american drivers over a barrel. is it time for president obama to open the keystone pipeline and stop up a potential gusher in our economy. and matt, it's there. we have another reminder why we probably need to take our energy into our own hands. >> yeah, it's energy security, which makes the national
security in my mind. you look at iran right now. going into 2012. that's one of my big, you know, things that could blow up in this economy because if that straits of hormuz gets closed. $100 oil is cheap. we're paying 4 to $5 for gasoline and would close down this economy. look where we're getting our oil. out of the top seven, four of them, to put it nicely. have you ever looked at the pipelines, they're running everywhere, what's one more going to do. >> we've got a zillion already. >> dagen. >> i'm perplexed by how the president can turn his back on a pipeline project that even the teamsters and the pipe fitters have gotten by. >> and that explains the pecking order. environmentalists first and foremost, unions and teamsters. >> 20,000 jobs would be created immediately, and putting in pipeline in place another one, 118,000 spin-off jobs and then, the
environmental argument doesn't wash, because again, you're going to ship the oil to china where it's going to be burned in polluting factories when in fact, it would be better used here in the united states. >> you know, ben, we always have a lot of reminder, why we probably should get the most we can out of the domestic supplies and canada being friendly and should this put additional pressure on a president to go i have the okay to the keystone pipeline? >> well, the president has to look at realistic situation. the environment is incredibly important, we love it, want to live on earth as long as mankind possibly can, but right now we need oil and natural gas. and his people, his environmental people, are fighting shale gas wherever they possibly can and fighting the pipeline wherever they can and fighting refineries wherever they can. mr. obama has to make a choice. he's got to say to the environmentalists, look, i love you guys, you're my brothers and i love you like mad, but the country runs on energy, it doesn't run on hot air spewed out by the environmental i-s, it runs on
energy and we've got to get that energy if people are going to be employed and keep from being a third world nation, let's be realistic, mr. obama. >> if only it ran on hot air. we could probably fuel the country from this show. adam, not only does president obama have to make a decision, but very, very soon. i don't see how he's going to side step this one. >> well, charles, i applaud you from trying to link us to whatever the latest whacky comment from a politician in iran made last week, even though, none of your, none of our friends here who agree with the thesis wanted to discuss iran with you. so, i'll try to discuss iran with you. i'm glad that the president isn't going to make our national energy policy based on what iranian politicians are saying. your question, should he approve keystone because the iranians might shut down the straits of hormuz and the answer to that is no. >> it's the latest of an example how vulnerable we are to oil stocked from around the world, particularly enemies of america.
>> we've known that for a long time. we continue to know it. the president and the national security agencies know it and they have a contingency plan for us. >> wait a minute, wait a minute. >> let me finish. >> wait a second. i think you're finished. i think you're finished and are you saying that because the politicians know something that they'll make the right decision? are you telling us that? >> no, what i'm saying is that it's easy for us to say, oh, this is another example of why the keystone project should be approved and all i'm saying is they have next to nothing to do with each other, we can have a conversation about keystone and-- >> hold on one second, you guys. >> all of the four of you want to have. >> how does, how does-- how does iran, and its control over almost 1/5 of the world oil supplies, the transportation of it and their threat, ongoing threat. a regime that hates us in the west and how is that not related to us wanting to be more energy independent or at
least dependent on nations that like us, that provide us with oil? how is that, you act like we're talking about-- >> and adam. >> and bubble gum. we're not. >> whenever you're ready for me, i'm happy to answer. >> hit me, hit me, baby. >> i mean, everything is related, dagen. you and i are related. we're appearing on the same television show this morning. >> oh, adam, please, please. >> at the same news organization. should we have an independent energy policy in north america that promotes north american producers? absolutely. should we pursue alternative energy in north measured america? >> adam, hold on one second, and matt, it seems maybe a little bit adam contradicted himself. he's saying we should have some sort of oil-- >> by the way, everyone is talking about the oil policy and i don't think there is an oil policy and it does feel like environmentalists call the shots no matter what the economic damage is to our countries. >> the only oil pile we rely
on people who don't like us, in other areas of the world. how is iran at least not exposed, look at nigeria, a lot from nigeria, a hot bed for terrorism as well and so many places we're relying on right now and more importantly, the whole job factor and energy factor and this is national security and this is-- >> one more thing. >> and there's-- >> aen there's epa and issue. >> there's the epa fighting to close down oil production in west texas around midland where my friends live and trying to shut it down because of a tiny lizard hardly anyone has seen and-- >> i have one more thing though that is going to be important in this decision making about this keystone xl pipeline, the price people pays, and it was a new record. and in an election year, i don't know how you side step trying to do something about
improving the amount of energy that we produce in this country or at least we get from people who like us. >> and adam, i've got to go back to you. listen, dagen, i think laid it out perfectly. it's an economic issue, it's an idea that we can get this gas from a friendly neighbor and create amazing amount of jobs in this country with just the signing of the paper saying, okay, keystone, let's go for it. >> well, i think we could have a news alert. dagen gave us a hopeful data point. if people are spending more than ever on the gasoline this year, the economy is doing better than we might have thought. >> no, gas is more expensive than a year ago, that's the point of the segment. >> gas a more expensive and pull demand back 4 to 5% in the last few months. >> here is the answer to the question, madonna made a g-- matt made a good point. we can spend in terms when we have a national security issue, that's why there's a bipartisan approach to fuels
and won't have anything to do with in the conference. >> absolutely right. we're going to leave it there. and leave it right there. spirited, i appreciate it. by the way, before you lift that glass that says 2012, did you know that more than 70 tax cuts are set to expire tonight? yikes, don't fear, the gang from forbes say they have a money resolution that will make it good at the top of the hour. up here next, paying more and getting less. when the ball drops, your health care costs go up and if it surprised, the white house isn't talking about it. in louisiana. they came to see us in florida... nice try, they came to hang out with us in alabama... once folks heard mississippi had the welcome gn out, they couldn't wait to get here. this year wagreat but next year's a be even better. and anyone who knows the gulf knows that winter is primetime fun time. the sun's out and you can go deep sea fishing for amberjack, grouper and mackerel. our golf courses are open.
our bed and breakfast have special rates. and migrating waterfowl from all over make this a bird watcher's paradise. so if you missed it earlier this year, come on down. if you've already been here come on back... to mississippi.. florida... louisiana... alabama. the gulf's america's get-a-way spot no matter where you go. so come on down and help make 2012 an even better year for tourism on the gulf. brought to you by bp and all of us who call the gulf home.
>> good morning, everyone. live from america's news headquarters, i'm jamie colby. president obama using his weekly radio and internet address to thank congress for preventing year end tax increases and says that much more needs to be done in the new year. >> i expect congress to finish the job by extending these provisions through the end of 2012. it's good to see members of the congress do the right
thing for millions of working americans. meanwhile, georgia senator, johnnie isaacson, outlining his for 2012. saying the number one goal easier to create small businesses by tax reform, slashing government regulations and energy security and urging fellow lawmakers to put the economy ahead of next year's elections and get back people work. i'll tend you back to cavuto on business, thanks for keeping it on fox. >> three days until the big day in iowa, who are you going to watch? >> cavuto of course. on the fox business network, with special guest herman cain. iowa's governor and president obama's former economic advisor and republican congressman alan west and the donald himself. >> tuesday night 8 eastern, wait a minute, if you don't get fbn-- >> demand it! >> a new year and a new fee for president obama's health
care law come january 1st, health insurance plans will pay a research fee as part of a plan to figure out what treatments work best for patients and matt, you say there's more evidence that this obama care thing is going to cost us so much money and give us less health care. >> yes, and the money part obviously is charging health insurance and that's to be passed on to you and i, easy to figure out and affected in a way that we get treated for sick or not sick. what they're doing, they're rationing and they're going to what doctor, what hospitals, for each condition and in a way, that hit us right away next year, but down the road suddenly, if you want to get a certain type of procedure done. they'll push to a certain type of doctor and it's more out of your pockets and ends up more money out of our pocket for health care. >> dagen, it seems like another layer on what's already an arcane system. >> well, it's only, it's worse from one point because glenn, this is one of those things that is buried in the health care law, secondly, as medicare and medicaid get bigger and bigger and bigger,
there's going to be pressure put on the government any which way it can to limit what you are covered for, procedures, drugs, you name it and the only upside is the quasi government agency and you know how slow the bureaucracies move and let's hope it takes years and years and years. >> and i hope it doesn't take us years and years to get up with some of the improvements we might need. >> the problem is as my smart friend dagen knows, they're going to start charging us money for the procedure of doing the tests before they start doing the tests. and the fees are going to start kicking in immediately. so we're going to start starting to be charged for getting nothing. and you know, the medical care in this country is an incredible mess, i don't know how anyone can cleanse the aegean stables, a mythology preference, i have no idea, it's a total mess.
>> another myth, adam, the health care law is going to change and make things better. it feels like every day, that's not true. >> why am i always last, by the way? >> you'll be first next time. [laughter] >> and i'm happy to be fourth. and first of all, and this is going to, this is sarcasm, i'll advertise that right away. i agree it's a terrible idea for us to research what the best forms of treatment are. that would be a poor use of our money and of course, a good use of our money and secondly, and this is a serious point, matt. it's completely irresponsible to bring up this word rationing. all insurance is rationing. and that's what private company health care plans do as well. they say you can only go to this doctor, this treatment is approved, that treatment is not approved. and that's the way-- >> and that's the way it works and that's the way it works and you're scaring people by using the word-- >> that's out of line. it's socialism. we're going to have european health care soon. >> you're throwing out labels
and scaring people and they should be scared on where the health care goes. >> adam, it's the difference in people's minds of private versus government. this is a government mandated group and the government mandated comparison testing and insurance companies do their own comparative studies and it's private and it's my choice, my choice which insurance company i go and use and when you deal with medicare and medicaid, it becomes worrisome for people. >> remember, dagen, remember the debate when this was going on in congress and people didn't want the government to change their medicare plan. because, that's their medical insurance. the goal of this legislation is to give more people medical insurance. and if you're going to give them insurance then you're going to force them into a box and-- >> and hold on, because, ben, if we put a lot more people in, millions more people, then that does mean less care for everyone.
>> well, it means less care for everyone and it means there's going to be a mad house, trying to get a doctor's operate, but i don't see any moral alternative frankly to making sure that every american has nek coverage. i agree it's a mess, even more of a mess, but at least poor people who do not have nek coverage now, will get health insurance and seems the lower middle income people i should say, that has to happen and we cannot be an america that we love and are proud of if anyone is deprived of medical care. >> i think everyone watching will agree with you. and i think everyone else thought a slower approach and thought it through and been smarter. >> and guys, remember this? >> i could not agree more. >> (laughter) >> and going out to california i need 100 light bulbs, what have you got? >> and got anything bigger? >> mega bulbs. >> clear ones? >> (laughter)
>> well, the first light bulbs end tonight and the are the new bulbs threatening something other than your money? we report, you run for cover. nature made takes a scientific approach to making their vitamins. in fact, they've invested millions of dollars in studies to learn how supplements improve your health. that's why i trust nature made. the number one pharmacist recommended fish oil brand.
that kick off traditional ones starting tomorrow. and ben stein we know you've been hoarding these for a long time. right now in fact we'll show one of your light bulb closets at this moment as usual, you're looking very, very smart. and this is another thing it feels like they pushed through, ben. >> this was, i believe, a bush plan, i'm afraid and not an obama plan and not a very good idea. and i don't know which lasts longer, i know that the new light bulbs are toxic and hard to bury them and that causes severe environmental damage and don't know why mr. president obama doesn't say i'm going to ban the light bulbs, we don't want governments telling us how to micromanage our lives. that's the bottom line. >> adam, not going to go fuh
first, but second. and micro, micro, micro, micromanage them. >> and by they, you mean the department of the -- government not the democrats in this. >> and there's enough ineptitude in washington to go around. >> i think you're all anti-progress and this is progress, the way things are going and there's going to be problems. >> let there be light. and listen, why don't we burn torches in the house. realistically though, there is a serious issue here and i think that there's an issue of a government central planning and overbearing and people are worried about that. >> i'm comfortable with the government setting safety guidelines and they've been doing it for years and doing it pretty well with aircraft, and so on. >> matt made the point. these things are catching on fire and you can't throw them away, filled with toxic junk. >> there's mercury in this. >> and the mercury--
>> and just the cfl's know the in the halogen bulbs and led bulbs, i'm a nerd, i know that. >> with the government look the other way with something that's green. not regulating the green and they'll micromanage it and this is groo en-- >> ultimately if they're energy efficient and makes that much sense the american people would have moved to them without the mandate. >> there you go, ben, the free market is making the choice. >>, but they're not green. the whole thing is a fraud. they're not green. they're incredibly difficult to dispose of. >> they're much more energy efficient, they are-- >> and with the energy, if you assume that our eyesight have no value and ruining our eyesight. >> and eyesight, somehow we'll keep them on and not break them in ten years, so we can break even. by the way, call me anti-progress, but i don't like the government mandating that ethanol gets mixed in with my fuel, so-- >> we're going to leave it
>> best stocks picks for 2012 starting with adam. >> charles, the vanguard total stock market index funds. like van, i am a believer that you will probably not beat the market. and if you are not beating the market buy it and do it inexpensively. >> what is yours >> if everybody goes on i like it low fees. i will go with it. >> for those who are not afraid of the market. >> ebg shares. what this is emerging markets and it pays a diffident and we
love that. >> what about the fact that emerging markets gots eight this year. they have priced right now and price in a global recession . emerging markets should emerge. >> ben, you like this one. >> i like it very much. i am a believer in index. this is a little bit of a index. i think it is a well chosen stock. >> what is your pick for 2012. index fund. fuy. you will not beat the market over long periods of time. the market will beat you to the pulp. >> matthew, you like it. >> ben makes a great point. average investors will struggle to beat the market. if you hire somebody like us we can do that. but yourself. low fees and track the market. >> up or