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tv   Your World With Neil Cavuto  FOX News  March 8, 2022 1:00pm-2:00pm PST

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yingst from the front row, low christmas tomlinson and steve harrigan who are bringing us this great reporting in the midst of a violent situation. we'll continue to watch to see what unfolds. that is "the story" for today, tuesday, march 8. the story goes on and we'll continue to cover it for you. "your world" with neil starts right now. >> neil: all right. if getting out of his oil mark didn't woo him, maybe perhaps without doing with big macs in russia will. i'm neil cavuto. this is "your world." joe biden made a major pivot when he said he wasn't going to ban all oil from this country. it was sweeping and immediate and already signed. we got the britts to do the exact same thing. even though the rest of europe isn't too keen on it. all of this at a time that gas prices still advanced and oil
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prices still advanced. the hope is they won't advance as much. this as we're learning that more and more american companies are following mcdonalds and saying, well, if you, mcdonalds, are going to get rid of the big mac in russian, we at starbucks are doing the same with or lattes and coca-cola announced they're banning russia. mcdonald's plans to shout down 850 russian stores in the process. all of this at the same time we had a tantalizing offer from the ukrainian president on what might be a key concession. that's how some are interpreting a concession that might end the fighting. the fighting rampant today though. russian shelling continues to affect people trying to get out of the country. this is for the third time we've seen this type of activity. record numbers of people are leaving the country. 200,000 plus a day.
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we'll update you on that. meantime, the latest from peter doocy at the white house. this was a notable shift on the part of the president. some interpret it as a sign down the road that he might shift on something else like domestic oil production. none of that today though, right? >> a notable shift in a few hours. when with ebb heard the president explaining that he was going to cut off russian oil imports, he explained the different measures that he thought the u.s. could take to try to limit some of the rising prices at the pump. just a few minutes ago, he landed in texas and he made it sound like a lot of it is out of his hands. >> it's going to go up. can't to much right now. russia is responsible. >> can't do much right now. that's a few hours after the president said defending freedom will cost us as well and that is exactly why officials around here had been making it sound like banning russian oil imports
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was unlikely to happen. this was five days ago. >> we don't have a strategic interest in reducing the global supply of energy. that would raise prices at the gas pump for the american people. >> the president argued this morning that two big things are going to help. first, getting more electric vehicles on roads and winter rising homes so people don't have to worry about oil prices in the future. second, talking to allies about releasing 60 million barrels of oil from a joint strategic reserve. we know biden officials are taking to a trio of countries with spotty human rights records about what it would take for them to pump more oil. that's venezuela, iran and saudi arabia. >> job plans to put terrorists ahead of texas, before texas. >> the president is in texas right now. hits on his way to speak about an event about veterans that
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fell ill to exposure to burn pits. we don't know if we will hear him talk about russia. neil? >> neil: thanks, peter doocy at the white house. william la jeunesse is seeing first hand how people are reacting to the oil prices and the gas prices as high as they are. in fact, in dollar terms, the highest they've ever been. particularly painful in california where they heap a lot of taxes on top of that. william, what is the reaction there? >> well, neil, people are beginning to cut back. 6:09 in west l.a. 6:99 in mid city l.a. nationally, 4:17 a gallon. a barrel was crude was $65 when president biden took office. today it's 130. about $1 a gallon in just two weeks. that means less spending on other consumer goods and restaurants. forcing people to make choices.
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vacation? maybe not. slower growth. oil is the number 1 driver of inflation, right? anything you buy, everywhere you go has to absorb that price hike. caught in the middle, consumers who crashed the gas buddy website searching where they could save a nickel or dime on a gallon of gas. >> i was at beverly hills. that was like $7.50. i drove here. i saved $3. >> i need to find another place more cheaper. we need gas. that's how we need to do it. >> for workers like me that do delivery drivering, makes it almost impossible. they're not welling to compensate for a higher wage. it comes out of my pocket. >> experts say this is driven or more uncertainty than supply and demand. refiners and producers cut back when everybody worked at home. with ukraine now speculators have jumped in. now with the u.s. banning those
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russian imports, prices here at home reflect the scramble to replace that production albeit small, with long haul truckers and family, everyone feeling pain at the pump. >> if everybody sees $4 and one month later $5, that is when it becomes problematic. because it's not just the level of increase. it's the speed with which the increase has occurred that makes it dramatic. >> so how long does this last, neil? nobody knows what we do know is prices come down a lot slower than they go up. neil? >> neil: a great report. puts it in perspective. some of those prices, yikes. a lot of times we try to get the facts right. it's not an opinion show. nobody cares what i think and nor should you. when i hear information that constantly gets out there and
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gets accepted as fact, we're just here about the facts. for some, it's like we want the facts, the drag net thing. when i hear this issue of domestic oil production and it having no effect on prices, it irks me. it time for economics 101 when it comes to oil production. people could benefit from just getting this straight. this is what got my goat. take a look. >> the 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 and balance. the keystone pipeline has never been operational. >> the keystone pipeline was not operational. >> the pipeline is not -- it was partially built. it's not really functioning.
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suggesting that changing that would lowter price of gas, i don't know that that makes substantive sense. >> all right. i have great respect for jen psaki and the people trying to push this argument that the pipeline or domestic production doesn't weigh-in on the price of oil. the fact of the matter is and she's right about this, that at the time the president essentially shelved keystone, the prospect of getting oil from it immediately anyway was remote. it was at least a year away to get some oil and years away to get the 830,000 barrels that the administration of donald trump was trumpeting at the time.we'll talk to his energy secretary about that. ebb want to stress here, oil trades on the global market like a stock. so it reacts to developments like it did january 20th when oil prices jump and continue jumps. in large part, jen psaki is say that comes out of a stocked
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economy from the pandemic. absolutely so. demand was building and supply was constrained. the markets trade on this like they do any stock. not on the news but on the impact of that news. let me give you an example. when a company comes out with big earnings, folks wonder why do the stocks sell. sometimes the guidance the companies gives gives the prospect that maybe things won't be so robust in the future. so it's trading and investors are reacting to that development. not so much the news of the moment or the past, the latest quarterly earnings, but the prospect that might not be so good. the reverse could be true. even though things that are forecasted are quite some time off. oil works the same way. it trades in the open markets just like stocks, globally
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investors sort of pick and choose what motivates either bidding up prices or staying away from it. when this president announced that he was going to stop keystone production and sent a clear signal that domestic oil production would not be his cup of tea, that prompted a lot of traders to see and bid up the price of oil in the likelihood that at least future supply would be limited. it's all about markets. there's no cabal here trying to set this. i want to be very clear about this. we're about the facts. we're about the economic reality that affects prices. now do sometimes markets go too far? absolutely. sometimes do they get it wrong? absolutely. did we in 2008 when we got up to 141 a barrel? bid it up too far too fast? well, we must have done something because the financial meltdown followed and five or six months it was down to $31 a
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barrel. you're saying neil you're boring us to tears on this. it's an important economic point to raise here. the idea of a pipeline and its affect when it's shut down, it's not the prospect of where things stand in the moment because as jen psaki said, there was no oil coming out of it. the big oil supply that would come was years off. furthermore, it was supposed to be oil coming from canada into this country meaning that it would lock in north american production of crude that we need. that was based on the notion that we wouldn't get that anymore. the markets read into that, all right, certainly a finite supply coming out of the united states. one other foot note onjen psaki before i stop lectures on this. a great deal of discussion about the 9,000 leases and contracts that the oil industry has. she's exactly right. what she leaves out is the 37,000 leases the oil destroy had just last year. it has exhausted as many of
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those leases as they can. oil guys want to make money. god bless them, that's their right. some of those leases they don't see as productive or could take longer to bare fruition. but they prioritized enough to take close to 40,000 leases on land and whittle it down to 9,000 today. that's all i wanted to relay here. the real story. who motivates pricing. it's fear and greed and anticipation, sometimes it's right, sometimes it's wrong. but then there's the facts. here to help elaborate on them, gary kaltbaum. the bottom line is this. we have looked at oil from the prism of limited supply at least coming from this country or not as much supply. now we're frantically trying to replace oil from russia with other nefarious alternatives. the bottom line, it's about supply that could be a lot bigger here that we're not
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tapping here. right? >> neil, in the president surprised the markets today and said we have changed our stance and we're going to make sure that we are producing 13,14 million barrels a day, you would have seen oil drop 15, 20, maybe $25 today. why? traders and investors and speculators are leaning big time long right now. they would have to switch gears immediately and the short sellers would come in. instead, the same old same old and to use the excuse that oh, it would take time anyhow. meanwhile, they're touting electric vehicles to all which will take decades to all. so the illogical continues to rule. the lower income and the lower middle class income families right now are being crushed. yesterday on my radio show, i
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spent three minutes listing 150 products that are made with petroleum. the list is 8,000. that includes solar panels and things like that. i do not think this economy and families can stand if we continue with a 124 oil that we're at right now and looks like nothing is going to be done here in the us and we get to turn to wonderful human beings like mr. maduro in venezuela. . >> neil: that is a little weird. certainly coming out of the pandemic, you'll see oil prices rise. you're going to a comply that is moving. things will jump. that will happen. i get that. the ukraine situation took that to a new level of crisis. the fact of the matter here, there would be very little damage done just acknowledging that maybe it's time for a pivot, maybe it's time to explore u.s. options here. there's plenty of them. maybe it's time to get the pipeline started again so all of
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that oil from alberta, canada makes its way here to fill up the supply side of it. the issue now going forward, whether you agree with that or not, is what happens next. because oil prices still climbing. a gran today, gasoline prices still climbing. the fear is, gary, they keep climbing like that, it's going to cause a slow down in and of itself. stag and stagflation hits us. that is going to bring lower prices. by then, we're all in a recession, right? >> yeah, we're seeing it now as i look at the market. the airlines and cruise lines and travel that were coming out of their bear market because coming out of the pandemic just tanked to new yearly lows. i have to talk about the leadership. a big part of any leader is to be flexible when things change. this president just has his feet in cement. he refuses to change with the fact that we're at $124 oil.
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we don't know what happen -- >> neil: you think he signals that he might? one of the reasons briefly for a market turn around from when we were down over 300 points is that maybe, maybe this pivot on russian oil when he first said no oil from russia was not an option and now it is that this might signal he might be more open to this? you don't think so? >> i sure hope -- looks like they're a determined bunch while all this is going on yesterday, mr. buttigieg, vice president harris, were out talking about electric vehicles and just shrugging off oil companies. i got to tell you, the permean basin in west test, they have 250 million barrels of oil there. there's a ton of oil here. we should be doing it, be
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worried about oil going forward later. fine. right now you have to take care of americans and americans are suffering in droves. we haven't seen prices go up. what will happen the next two weeks from the last two weeks with wait tell you see eight and $9 in california. no fun, my friend. >> neil: all right. gary kaltbaum, thanks very much. one last boring academic point that i'll raise with you before we get to rick perry. it's about supply and demand. what is left out, anticipated supply and demand just like it's about future guidance when you weigh whether you should buy or sell a stock. the markets are convinced there will be limited supply. that is the issue. now, if you open up future potential supply, the markets could pounce on that and think it's honky dorie. again, it's about that basic math. it's about understanding how the underscoring company is doing.
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so oftentimes you'll hear stocks trading on a price to earnings multiple. that sounds like goop, but is the stock price justified by the earnings that you can see going forward. it the going forward part that is important. if you believe that amazon will continue to make money hand over fists or apple will make money hand over fist, then you're basing it on future expectations that that business will continue and worth buying. contrary to that, if you're looking at oil and think is supply is limited and not as much out there, you weigh that and say, well, if it's going to be in scarce supply, i'm going to bid it up or the idea that it should be bid up. that has been happening. not exclusively because of production in this country. other events that have been very, very big and have obviously moved us in a way that no republican or democratic president could deal with. the reality though is the market is saying we have our doubts about the future. in this case, when they have
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their doubts, they're more inclined to bid up the price than cut the price. so the former energy secretary of these united states, rick perry. secretary, good to have you. are you getting a sense from the biden administration that because of this change on now banning all of vladimir putin's oil when he said he was only open to a partial ban that he just might, he just might pivot on domestic production? >> neil, let me just share with you that was a really great segment. the american people really needed to hear that economics 101 class, if you will, to understand what is going on. you get more of what you incentivize. it's really that simple. whether you're a governor or the president of the united states or whether you're running a
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company somewhere. if you overtax, overregulate, overlitigate, you'll get less of that. if you free up the market from the overtaxation, the overregulation and little suggest to you that's what's going on here. the president gets up and says one thing. then his cabinet goes off and says something not on line with that at all when you think about the idea that we're going to have electric cars that will take care of the gas prices. that is a disconnect. my hope is that mr. biden, president biden, will in fact see the error of his way, will pivot. i don't think the market believes he will. i don't any those around him are getting signals that that's what he's going to do.
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but the fact is, we have the supply in this country. if we could see from this administration clear evidence that all the gas companies can make a profit and there's nothing wrong with that, the island that they're not going to go take leases, buy permits that are not profitable. makes all the sense in the world. but jen psaki to say there's 9,000 leases out there. well, if they can't make money or if you go invest i don't remember money there and because the government regulations are slow-walking permits or what have you and all this is happening -- >> neil: so what you're saying, secretary, as the background noise, that dog don't hunt. kidding. now i'm beginning to wonder here. if it looks like this doesn't changed and we stick to these
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levels, you know, oil could go prohibitively higher. we know from experience, secretary, that, you know, it gets to a point where it's so high that people -- it's like -- it creeps into every facet of the economy and all of a sudden we have a recession or worse, a meltdown. that was a big, big story back in 2008 and 2009 when we went from $140 oil to about $30 a few months later, the financial collapse didn't help matter any. but it's all about how much we can take this, absorb this and consumers can deal with this. what does your gut tell you? >> i wish i could tell you $200 oil was not in our future, but i can't say that. when i see what's going on in ukraine, the absolute island that we are -- we're out bargaining with mad men, whether
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it's in iran, in venezuela, russia is sitting down at the table with us, dealing with the iranians at this particular point in time. that makes no sense to me at all. so i said in an earlier interview when you deal with mad men, when you spend that much time with mad men, not only is it a bad look, you have the potential to become one yourself. i just think it is in the u.s.' worth interests to be sitting down with venezuela, to be sitting down with iran, to be trying to negotiate with these individuals at this particular point in time. when the fact of the matter is the answer is the right here, right in front of us -- >> neil: being too stubborn, right -- and i mean, you've been an advocate. you were all in on all energy
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ideas. states like louisiana, i had senator cassidy on earlier today talking about they're big in to wind and all of these other things as they'd are natural gas and major player in that field. they're all in on all ideas. it's not coming necessarily at the expense of green or traditional. it's all in on everything so that we have everything. why can't we just do that? >> that would be a good idea, neil. >> neil: all right. rick perry, a pleasure seeing you again. the former energy secretary of the united states. longest serving governor of the beautiful state of texas, i might point out. we can go back and forth debating the high oil prices. in ukraine, there's more urgent matters like life and death. let's go to benjamin hall in kyiv right now with the latest. benjamin? >> hi, neil. across this country today, far more tragedy. one hand, we saw humanitarian aid unable to get to the people that need it.
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the other hand, people that need it to get out and unable to do so. in mariupol which has seen heavy shelling the last week, 200,000 people remain stranded. no water, no heat, no food. looting broken out in that city. hospitals are now reporting shortages. the death toll right now is unknown. there was one successful evacuation today from the northern city of sumi. 3,500 people taken out on buses. it's the first successful prearranged evacuation since the invasion began. russia announced there will be another cease fire at 9:00 a.m. in craw yain -- ukraine in four cities. meeting this weekend as well, we expect further negotiations with russia and ukraine, the diplomatic path moving forward. for now, civilians die. rescuers are trying to get people out. in kharkiv, 27 civilians also
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killed. president zelensky speaking out to the british parliament, calls for help. >> we are looking for your help. for help of you. please recognize this country as a terrorist state. please make sure that our ukrainian skies are safe. >> and ukrainians tried to need the bombardment. young and old cross the river to get to the capitol. other people are coming to fight. 40,000 foreign fighters have come in to join the battle against the rushes. both sides seem to be watering down their demands. president zellerlier saying that he would no look for nato membership. and the kremlin spokesperson said they're looking for recognition of crimea, donbas
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and for zelensky, that he could stay in power and they want a neutrality. so a significant shift on both sides as far as the diplomatic path. it shows some progress. some desire to move forward is being made. neil? >> we can only hope. thanks. be safe. benjamin hall. the fact is that ukraine's president zelensky is open to, you know, reassessing nato and whether ukraine could or should be a part of it. it a fight that has gone on for years before this. it is maybe a potential olive branch. let's get the read from keith kellogg, the former national security adviser under mike pence. general, how significant? nato isn't that important to us. >> well, thanks, neil. before i go, look, i listened to the last segment. i'm an old old field hand. my family's business was in oil.
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fascinating to listen to your segment. incredibly well-done with the former governor as well. nato is very important. what i'm seeing in this whole thing going forward is all battles, all wars have branches and sequels. there's more branches and sequels in this than i have finger and toes. it goes back to the viability of nato, transference of polish mig 29s and trying to get them in the ukraine. putin overestimating his army and underestimating the ukrainian people. it goes on and on. fascinating to watch, let alone the economic factors with oil. i think what zelensky said is a major shift. he said i don't want to necessarily be a part of nato. that's like an olive branch to putin. we'll see what putin wants to do. putin has been so embarrassed by the role of his military and how it has performed and he has a
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firm adder is vary in zelensky who turned out to be quite churchillian, i'm not sure that putin doesn't want to go in nor the kill. putin has a problem. almost 100% of his army is pushed into ukraine. he can't get to the western part. he's going to be lucky if he finishes the the eastern part. this still has days to play with kiev. if he wants to go into a city, armies hate fighting in cities. it eats up units. the ukrainians will fight. this could be frankly the soviet union's stalingrad. this could be the russian stalingrad and fight to the death in the near term. >> neil: general, people wonder why when it comes to the sanctions, they get more painful does chester cat smile on putin's face. many respects because he has a back doorway to get the oil to
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china and india. speaking of china, sir, it is now looking at buying a stake in the russian energy giant. they are also looking at buying a very big player, aluminum company. seems like china is going to be there as a fall back for russia. if it is, should they be looking also at sanctions from us for doing business with a country and the western world have sanctioned? >> neil, i have said all along, our biggest adversary, growing adversary is china. they're showing today and their actions earlier that they're not friend of the united states. they're looking for global dominance. they're going to push it. they're frankly probably looking at putin, maybe that handshake wasn't a good deal. he's not as strong as we thought. i understand the importance of russia and what is going on.
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it's a european issue even though he has nukes. it's like i hate to tell you, it's vermont national guard with nukes and i probably insulted them. we need to focus on china. their economic growth, military growth and diplomatic growth. here's what is bothering me right now. there's diplomatic overtures by the united states. we have no relations with russia. biden has no work with -- ability to work with putin. putin doesn't like biden. so we see kline talking to macron, talking to scholz. they're excluding us. all wars end through diplomatic conclusions. we're not there yet. >> neil: general, well-put. thanks very much. one other foot note and i'll wrap up this academic argument on gas and only prices and go away. you're saying neil, you're justifying how boring you are. this is according to the
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>> neil: that was the british particlement. the ukrainian president giving a speech to the house of commons.
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helping when he said things like we would fight russia as far as the fields and the shores, even behind the scenes on back and forth on what could be peace saving gestures. let's go to jennifer griffin with more. >> u.s. officials were blind-sided by poland's offer to send their mig jets to ramstein's air force base. senior u.s. defense officials tell me that they cannot confirm the killing of a top russian general near kharkiv. this is not the safe general as the head of russia's arm forced. officials are not confirming the exact number of russian soldiers killed in ukraine despite these remarks today by the head of the u.s. defense intelligence agency add the world white thread assessment hearing on capitol
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hill. >> in open session, how many russian troops have been killed. >> with low confidence, somewhere between 2,000 and 4,000. that comes from some intelligence sources and open source and how we pull that together. >> u.s. director of national intelligence, avril haynes and chris wray said rush and other bad actors were referencing disinformation promoted by russian bots calling for domestic protest. they say it's a phenomenon and expect it to continue to be a threat. bill burns said today that ukraine has unsettled e. coli northeast president xi jinping as it has brought europe and the u.s. closer together. china is weary of possible reputational damage. russia is moving on key from three directions according to a
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senior defense official. not making much progress but it's still putin's main goal. russian fired 50 missiles in the past 24 hours at civilian centers. neil? >> neil: the longer risk this goes on, the more risk that putin gets more desperate and more gruesome. after this. ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ ♪♪ ♪♪
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i don't know. i think they look good, man. mm, smooth. uh, they are a little tight. like, too tight? might just need to break 'em in a little bit. you don't want 'em too loose. for those who were born to ride there's progressive. with 24/7 roadside assistance. -okay. think i'm gonna wear these home. -excellent choice. >> putin is unlikely to be deterred and could double down. >> putin is frustrated and could double down with no regard for civilian casualties. >> neil: that sounds like a desperate, violent vladimir putin. to the ukrainian parliament member that joins us from
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ukraine. what do you make of this? if they're right, a desperate vladimir putin will be a horrific vladimir putin as if he hasn't been already. what do you think? >> thanks for having me. well, i think he's not desperate. he's delusional. the idea that he would be greeted with flowers was ridiculous to begin with. me miscalculated and people around him do not bring him critical information or they -- >> neil: we're having some audio problems. if i could ask you very quickly, president zelensky has held out the possibility this idea of being part of nato, not being part of nato. he's kind of cool on it and wanted to relay that to russia. if your country had to give up on the motion of ever joining nato, would that be a deal
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breaker for you? >> it's in our constitution that we should join nato. but we're not invited yet or the next ten years. so it's not on the table. it was a principle position for putin to show that he can do the things that he can just invade the country and do what he wants. he wants a military victory but hi won't get it for sure. >> sandra: >> neil: so the notion that you might not ever become a member of nato but vladimir putin and his trips go, what would you think of that? >> i think that after this invasion, it's an uncertain. it's clear that russia is a threat to us. always was. it was a threat to us for generations. now we have no turning back. we have to begin by military force, military campaign. then we can be a good ally to
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nato. it's clear that the ukrainians have to fight despite russian has ten times the military budget that ukraine does. we would be a strong supporter to nato. as you see, from our military forces and how effective they are at repelling one of the supposedly greatest and most evil armies of the world. >> neil: very good point. thanks very much. we'll talk to senator pat toomey, what he makes of this overture on the part of president zelensky and whether it changes anything after this. . when you need some of the brightest minds in medicine, this is the only healthcare system in the country with five nationally ranked hospitals, including two world-renowned academic medical centers, in boston, where biotech innovates daily and our doctors teach at harvard medical school, and where the physicians doing the world-changing research are the ones providing care.
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>> neil: all right. this overture, whoever you want to call it on the part of president zelensky and ukraine saying this nato thick isn't a deal breaker, i'm paraphrasing. pat toomey of pennsylvania with us. senator, you read from some of the people on the ground including this parliament member who is putting up the good night. we're way past the whole nato thing. so if that faults on deaf ears, where are we? >> neil, with us never about nato. let's be honest. putin knew that ukraine wasn't joining nato any time in the foreseeable future. he knows that nato is not a threat to russia.
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come on. that's not a mystery. we have nato countries that have a border with russia. they have never been threatened by the baltic country. they wouldn't be threatened by nato and ukraine and nato. that's not what it's been about. it's about him trying to expand his sphere of influence and he can't tolerate a slavic country embracing the west and thriving, which is where ukraine was. that is why he invaded. it was never about them joining nato. >> neil: senator, this other plan and some say we're distant from it where poland gets some planes and, you know, it then goes in to airspace over ukraine, how do you think vladimir putin would react to that? >> i don't, neil. i don't think anybody does. you know, we can't decide that
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there's nothing that we can do because we don't like the what you putin might react to it. what he's done is appalling. he's murdering people by the thousands. there's people leaving ukraine by the millions. this is a free sovereign country that was no threat to him. he has brutally invaded it. there has to be a very high price. he has to come to the conclusion that this was a huge mistake or it won't end in ukraine. frankly he's not the only audience here. i think xi jinping needs to be watching this play out, he has to decide that this is going very badly and maybe it wouldn't be a good idea for him to follow a model like this. i think -- >> neil: let me ask you real quickly, senator. xi jinping is willing and eager to buy russian oil if it's forren everywhere else.
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he's looking to buy their largest energy producer. if that continues, if russia find and end run around these sanctions, would you recommend taking sanctions against china? >> there's an easy way to prevent that, neil. impose secondary sanctions on russian banks. the way that works, it's a simple proposition that we establish, we, the united states. that is if you're a bank anywhere in the world, you can do business with russia but you can't do business with the united states. there's no major international banks that will do that. that's how you bring them to their knees. >> neil: you won't go after china. >> that does go after china. if the chinese banks were provide financing through whatever mechanism that they choose, they would be subject to that sanction just as any other bank would. i don't think china can replace the demand for russian petroleum
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products that the west purchases. that's part of the reason why we have to shut down our purchases of russian energy. >> neil: got it. senator, thank you. i apologize for the truncated time. >> thanks for having me. >> neil: some options for russia but not necessarily china. more after this. found out our son had autism, his future became my focus. lavender baths always calmed him. so we turned bath time into a business. ♪ and building it with my son has been my dream job. ♪ at northwestern mutual, our version of financial planning helps you live your dreams today. find a northwestern mutual advisor at
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mike? >> the mayor says it's maxing the capacity to handle them. 50,000 are arriving by rein every day. two million refugees overall have crossed to the west of this country, 1.2 million of them have gone into poland but 200,000 of them roughly stay behind in this town. a lot of them are arriving by bus and those who arrive by bus, a lot of them are stopping at the lavive arena former home to world cup soccer, european soccer now a coordination center where they are fed and someone finds the possibility of putting
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a roof over their heads and their needs are taken care of. >> the most, psychological health is bad because they saw bombs and wreckage and they are just moved in very stressful circumstances from their places of living. >> now, different structures are converted into emergency housing. in lavive we found an artists loft that became an emergency shelter. mostly women and chirp are staying as men were staying to fight. but we found one woman who has moved to kyiv and now been driven from the fighting in kyiv. >> why would anyone be deprived of their houses, their families, their dreams, their lives just for no reason?
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i don't think someone deserves it at all. >> and the prediction is we could see as many as five million refugees before this is over, neil. >> just incredible. mike, thanks for putting that in perspective. i think of the markets and say painful, nothing like that. just a thought. ♪♪ >> hello everybody i'm jesse watters along with judge jeanine pirro, geraldo rivera dana perino and greg gutfeld. 5:00 o'clock in new york city and this is the five. ♪♪ president biden finally banning russian oil as putin's warm machine ramps up attacks on ukrainian civilians. under bipartisan pressure biden announcing a stop to imported russian energy. but instead of promising to produce more oil here


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