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tv   Forbes on Fox  FOX Business  June 4, 2017 3:00am-3:31am EDT

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summer is here finally and low gas prices mean more people travelling. gas won't stay lone forever. we'll go with the i share dowow epf-- >> charles doesn't have time to trash it. that will do it. >> we have among the most abun dent energy reserves in the planet, sufficient to lift millions of america's workers out of poverty. under this agreement we're effectively putting these reserves under lock and key. taking away the great wealth of our nation, great wealth, phenomenal wealth. david: protesters hitting streets after the president stayed we will exit the climate deal. and they say it will put the planet in danger. some here says it create more wealth to clean up the planet
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faster. who has got it right? let's go in focus, with steve forbes, rich, michael, is a bre sabrina and john tamny. you think it will help. how so? >> the u.s. shouldn't be doing in agreements that other countries won't abide. economic growth is the ultimate environment enhancer because it leads to wealth creation. when people are wealthy to care about people around them. the agreement was anti-wealth. david: the wall street journal it the article. the con even the supporters can see meeting all of the commitments will not prevent more than 1.7 degree celsius increase in global temperatures
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by 2100. now, .17 degrees is not a lot. is it worth the cost? >> well, listen, i don't know that i believe that. but let's just say that donald says that he wants to renegotiate this. if you don't believe in global warming or climate change, what's to negotiate? he said that people are laughing at the world, when he says stuff like that, people are laughing at him. i mean, i think it hurts our relations with our allies and that's not good for business. david: by the way, the information from that editorial came from applying epa climate models and seeing them 80 years through. the mike, the point is what the president says, if we went by the paris agreement, we had be redistributing the wealth we have and closing down our coal mines and the indians and chinese would open up dirtier coal mines and eventually because of the paris deal, the world would get more polluted, not less. >> absolutely. david, this accord was always
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about the redistribution of wealth. this was president obama's baby. that's what the man stood for. going over 80 years, do you really think you can predict how much the climate or the temperature is going to change? that's preposterous and on top of all that, the united states was going to pay a disproportionately high share of the money going to it and the u.n. is basically going to control it filled with crooks, dictators and tyrants. david: that's a great point, steve. the u.s. usually plays by the rules when we sign the accords. the rest of the world-- look at one example, by the way, there are many. but look at this, the green climate fund, we paid in a billion dollars. nobody else is paying in money or at least the big polluters aren't. think of germany, our biggest critic are the germans on this issue. the vw, volkswagen was the one that cheated on their emissions standards. >> well, the fact of the matter is the u.s. goes by the
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agreements. if we went by this one before president trump withdrew from it would have devastating impact on the u.s. economy. we're reducing co-2 emissions better than any countries in the world and this would impose billions on the u.s. economy and cost millions of jobs for no help for the economy. we'd cripple our economy and india and china would be free to pollute. david: and tom sires put in his own, and he says it's a traitorous act. >> the political environment has become so toxic, we can't have a reasonable conversation about this anymore. what's being overlooked here, this was a nonbinding agreement, right? as others have noted. what's really going to improve the environment in addition to a strong economy is the natural
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gas revolution, which is doing a whole lot more to reduce carbon emissions than anything that we signed on the dotted line about. so, i think that that's a theme lost here in all of the political rhetoric and heat. there's lost on the left, screaming about the big oil and gas companies like exxon or conoco phillips, they're going to benefit from this because they're the number one producer of natural gas, not oil and gas anymore. david: there's been an extraordinary revolution in natural gas, led to our burning cleaner fuel. let's go what john tamny said, the creation of wealth we have in this country has led to a cleaner environment. if we abided by the paris accord we'd have less wealth creation and thus, a dirtier environment. to which you say what? >> well, look, i agree with trump on pulling out of the paris accord. i think he missed a historic opportunity to explain why.
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it's not about coal, it's about everything that sabrina talked about, a level of innovation, technology, entrepreneurship is running so fast, it's making the paris accord irrelevant. you know, even china and india are pulling out of coal and china canceled a hundred coal plants because thnology a moving so fast in fracking and solar and everything else. the marketplace delivers what we want. edon't need the u.n. and central authority to tell us what to do to get a cleaner planet. david: and what he said when he announced this, we don't want to be controlled by these bureaucrats over in europe and they, of course, they don't even abide by the rules that they demand for us. >> yeah, they just see us as a big piggy bank to finance their own governments and schemes. and the u.s. economy is strong and growing, we're exporting natural gas as we will be in a big way in a few years, that helps us and helps the rest of
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the world. technology is doing it. the theme of this panel, markets work, innovators making this positive, things happen. let it roll. bureaucrats out of the way, we'll do it. david: bruce, wouldn't you concede that if we were to abide by the paris agreement, it would cost us all a lot more money and that extra money, we usually use to control pollution. >> well, i don't know about that because listen, if this is so bad for business and bad for growth, then why is jeff immelt disagreeing with the president and why are-- >> it's political. >> the tech communities and so for. no, this isn't. there's a trillion dollars renewable industry out there and we're-- and donald is focused on digging coal in coal mines. david: sabrina go ahead. >> president obama want today reduce by 26 and 28%, one of the things is our dragging economy. we need to go with the economy,
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and allow the businesses to innovate and develop new technologies, just looking at our trend of cars, that's what the consumer wants and that's what the market is going to respond to. david: mike, the point is, again, the more we produce as a nation, the richer that we get, the more prosperous we become, the more extra cash we have to spend on things like pollution controls. >> of course. and john tamny pointed that out at the beginning. the reason why the mainstream media and the left are going nuts over the united states pulling out of the paris accord, this is one more repudiation over president obama just like over the election, hillary clinton lost and the russians did it and all of that. they see the whole obama's being dismantled and they can't take it. david: john. >> why do we have these groups in the u.s., the effect of our being the richest country in the world. they don't exist in peru or
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bangladesh. if we shrink these deals, we will not be as pro environment. david: last word from john. dash cam video catching tiger woods arrested for driving under the influence. are row mange sponsors thinking twice or betting on a comeback? we'll debat you totaled your brand new car. nobody's hurt, but there will still be pain. it comes when your insurance company says they'll only pay three-quarters of what it takes to replace it. what are you supposed to do? drive three-quarters of a car? now if you had liberty mutual new car replacement™, you'd get your whole car back. i guess they don't want you driving around on three wheels. smart. with liberty mutual new car replacement™, we'll replace the full value of your car. liberty stands with you™. liberty mutual insurance.
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you're at the top of your game.. at work or at play, you're unstoppable. nothing can throw you off track. oh hey, she's cute. nice going man. things are going great for you. you've earned a night out. good drinks, good friends. yeah, we can go ahead and call this a good night. wait, is that your car? uh oh. not smart. yeah, i saw that coming. say goodbye to her. ouch! that will hurt your bank account. you're looking at around ten grand in fines, legal fees, and increased insurance rates. i hope you like eating frozen dinners. alone. let's try this again. smart move. because buzzed driving is drunk driving.
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i'm elizabeth prann. for all of your headlines log onto foxnews.com. david: pro for tiger woods back in trouble this week, he was seen stumbling looking confused on the dash cam video. here is tiger's statement he made after his arrest. i want the public to know alcohol was not involved. what happened was an unexpected reaction to prescribed medications. i didn't realize the mix of medication had affected me so strongly. but at what point should sponsors think of dropping folks like this? >> david, i think it's tiger whose body has really broken down over the last few years,
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has a serious long-term addiction to pain killers, and then i think the sponsors would actually be helping him by dropping him. because i think if they keep sponsoring him, they'd be enabling his addiction. david: well, rich, nike is sticking with him, did he do the right thing? >> i couldn't agree more with my friend. nike has a history of sticking with people, they stuck with lance armstrong, the last person, the last company to drop lance armstrong. i agree with oz. tiger is in the deep woods here. david: again, he's not saying he's addicted to anything, even though something like this has happened before back in 2009. john, what do you think? did nike make a mistake in sticking by him? >> no, they did the right thing. phil knight has a long relationship with tiger woods. he's made it a lot of money and nike sticks by its athletes. we don't know the full story.
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what a shame if nike would have turned tail for him now. david: there have been combacks, ryan lochte, michael phelps, michael vick, i didn't think he'd ever come back from the thing with the dogs. and there are precedents for this. >> yes, it's good for nike to stick with him and they started with him and benefitted from the relationship. other sponsors want to stay on the sidelines and drop him, fine, nike with them gives tiger woods if he can come back the ability to come back. >> with tiger, he's been here before. >> nike would be within its rights to back away from tiger woods. if you live by celebrity, you die it. and it could mean no longer
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valuable. david: sabrina did i see you nodding on that. >> and nike is about living a healthy life style, and having drug and addiction a part of that, on the flip side, i actually think they made the right decision. when you're an athlete doesn't mean you don't trip and fall and their model is just do it. so hopefully he'll get back up again and that's a good image for the brand. david: we're a nation of second chances, in this case, a third chance, i guess, for tiger. >> we are. i'm really annoyed by bill's comment that it's about celebrity. tiger woods worked his butt off to be the best golfer of his team and that transcends celebrity. david: that's why he's gotten the big bucks after he's stopped the tournaments. >> he's a great hero and he has been, but that enough to keep him going forever? i'm not so sure. david: john, i do-- it is extraordinary, isn't it, that he hasn't been golfing,
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certainly not at his, at the level that he was ten years ago, for quite some time. and yet, he's still getting tens of millions of dollars. >> and that's what i think we should focus on. where is the compassion here? of course he's got all the money in the world, but we're talking about someone who is not able to do the very thing that elevates his skills. it's got to be devastated. why run on him now? i think it's terrible, especially since we don't know everything. david: mike? >> i tell you where the compassion is, john, it's coming from me who has struggled with addiction. sometimes you need to hit a bottom before you can seek the help you need and i think-- as you said, we don't know if this is a serious addiction problem, but if it is, the real compassion would be for the sponsors to walk away and to help tiger get the help he needs. david: steve, you don't want to enable somebody who has a problem, right? >> no, and i think this is where nike can make a real contribution. not publicly, but behind the scenes say, can we get this thing going again and listen to
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them longer than the other sponsor, they have the long relationship john alluded to. david: sabrina last word. >> and it's the market, so i think that nike has a great story. david: and the cashin' in gang ready at the bottom of the hour, what have you got. >> talking the talk and walking the walk. president trump on fair trade and paying their fair share, why taxpayers might be loving his tough love. the hillary clinton blame game continues. what she says cost her the election this time. >> we'll be watching. up first, some venezuelan protesters turning their anger from their socialist government, to a new target here in the u.s. we'll tell you who and why we'll tell you who and why coming up next.
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in applications and customer experience. which is why comcast business delivers consistent network performance and speed across all your locations. hello, mr. deets. every branch running like headquarters. that's how you outmaneuver. >> protests continuing in venezuela this week over president medura's policy. some are ticked at goldman sachs here in the u.s. the company just buying nearly $3 billion in venezuelan bonds at a huge discount. this is a transaction that government opposition members say is a lifeline to the socialist president, but sabrina, your flip side, this could actually help get the socialists out quicker. how? >> i hope so. if the meduro goes to the
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bondholders rather than starving its people, it will show them as the corrupt government as we are. i wish we'd see more people protesting in the streets about the people suffering there than the paris accord. david: steve, what do you think. >> they should be paying attention, the investors, should look at. they're calling them the hunger bonds. david: it may be a bad investment, but they're doing it hoping it make money. is it right that they're doing it? perhaps it's throwing a lifeline to a bad government? >> yeah, legally they can do whatever they want. in in case with venezuela, but morally it's absolutely wrong giving this government $800 million and that money is going to the government, they didn't buy these on the secondary market, these bonds. so they're giving a lifeline to an atrocious regime starving its people and killing its people and shouldn't have done it for moral reasons and reputational reasons for the firm.
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david: you shouldn't be restricted from doing it, but morally it's wrong. and you say? >> i'd say goldman is in the business of profit, but more important they're creating a market they can say if the modura regime continues in the socialist direction, goldman sachs will lose and it will stay away. and if it succeeds, maybe a sign they're going in the right direction. david: full disclosure, you used to work for goldman? >> yes, i did. david: bill. >> i think that goldman could get a comeuppance. and may decide 50 cents on the dollar, or it would be 50 cents on what you paid, and that could be terrible. david: could this turn out to be bad for the socialist government? >> i'm always an optimist and i think that goldman is not stupid and i think they see light beyond the maduro regime and that's what they're betting on. david: capitalism is at work. thank you, gang. coming up, a new study showing
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out half of millennials are stressing out over finances while at work. don't fret, our informers with the picks to help fix your money worries, no matter how old you are.
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>> and we'll see you there every monday morning and every day next week. we are back with the stocks to take away your financial worries even if you're a millennial. mike, under amour. >> under amour is a sponsor of jordan spieth, i think he'll have a good long career. >> what do you think, bill. >> and this is one. >> allied financial, why do you like that. >> it's online banking for millennials, worry-free for this. >> david, millennials have no money to bank with, they're living with their parents or in an apartment, too much debt. david: i'm wondering whether millennials should put money in the market. it's been record highs in the past couple of weeks, do you think it's going to stay there? >> they should put money in and curb their enthusiasm. the next 30 years aren't going to be as good for the markets as their parents. >> mike. >> no load mutual fund with someone like vanguard. david: keep it there for
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decades. >> don't look at it for the next two decades. david: for 40, 50 years. thank you very much. have a wonderful weekend. that's it for forbes on fox, thanks for watching, keep is here, the number one business blocktinues with erbolling and cashin' in. eric: president trump taking on the elites of the world. pulling out of the paris climate agreement, criticizing germany for being unfair when it comes to trade and telling n.a.t.o. leaders to pay their fair share as they stood by snickering, and rolling their eyes. many are quick to bash our president, maybe this is what america needs, a president who looks out for american workers and taxpayers. i'm eric bolling, our crew this week, mercedes, lisa booth, rachel campos-duffy. he's calling everyone out, what do you think, is this good for

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