talking about a balance sheet that has doubled to $9 trillion at the federal reserve just since the pandemic began. dagen: the fed is going to screw this up. mark my words. maria: we'll see about that. we're expecting the fed to raise rates by a quarter of a point and we'll get that news tomorrow at 2:15 p.m. eastern thank you so much dagen mcdowell and steve forbes for joining us today market is up 145 on the dow. "varney" & company begins right now. david: i love dagen mcdowell she's right to the point, maria great to see you thank you very much good morning, everyone i'm david asman in for stuary varney it is day 20 of russia's invasion of ukraine and the brutal assault continues residential apartment buildings in the capitol of kyiv engulfed in flames meanwhile the secretary general of the u.n. warning nuclear warn is within the realm of possibility. ukraine's president is urging russian troops to surrender, this as peace talks between russia and ukraine are set to resume today.

let's take a look at the markets as maria was just saying futures are jumping, with lower oil and the producer price index climbing less than expected last month. the dow is up pre-market 150, s&p up 24, and nasdaq the greatest percentage rise of the day up 105 in pre-market activity. take a look at the 10 year treasury. that is down a little bit as people go to treasuries the rates come down, down four basis points but it is still up above 2% for a 10 year. oil dropping below $100 a barrel , because of a china covid slowdown, they will useless oil if that slowdown continues and word of the new talks between ukraine and russia. meanwhile, the white house using tik tok influencers, so-called, to push their message that putin bears all the blame for rising gas prices. we'll see how that works out and that's not all.

some democrat lawmakers blaming big oil companies for the higher prices, and they want them punished. they introduced a bill that would levy a huge new tax on so called windfall profits remember that one? we've got a big show ahead mercedes schlapp, congressman dan crenshaw, brian kilmeade, and former governor mike huckabee, they are all here it's tuesday, march 15, 2022 "varney" & company is about to begin. well, russia's assault on ukraine has now entered day 20 and now russian forces have hit civilian buildings as they advance on the capitol of kyiv. lauren? what are the key updates? lauren: thousands of civilian casualties obviously here, as it's day 20. ukraine is reporting more air strikes on an airport in the west, heavy shelling on north east of kyiv, and attacks

on the southern town of makaliv. the shelling is so intense that tonight kyiv will impose a 35 hour curfew going until thursday and then you have this dramatic show of unity. the leaders of nato members poland, sloshing vein yeah and the czech republic, they are traveling by land to the center of kyiv and they are going to stand united with ukrainian president zelenskyy. david: wow. lauren: that is arguably the strongest show of nato allegiance yet, right and reports say they will then present ukraine with the support package. i also want to tell you about this. there was seven hours of talks yesterday between top level officials of the u.s. and china, those talks happened in rome. they were described as constructive, but really, we're learning very little about what happened during seven hours so the u.s. did, we're told, ask china, were you asked to provide military support to russia and an economic lifeline? david: good question. lauren: the u.s. also warning if china does any of those things they will face consequences and

i don't think china is in a position to have economic consequences. beijing says look, we're neutral but they refuse to call the invasion a war, and they've also refused to join the western sanctions against putin. david: a lot going on. lauren: china is telling it. david: lauren thank you very much well the white house is considering a potential trip to europe for president biden, however white house press sec jen psaki says nothing is confirmed. roll tape. >> well, we are, of course closely engaged with our nato partners and european allies, as you've heard us say a number of times, about the next steps in diplomacy whether that's providing additional humanitarian or security systems or the mechanics for future conversations, but there's not been any final decision about a trip. david: no decision. let's bring in mercedes schlapp, maybe in two weeks, we're hear ing. what's everybody waiting for , now is the time to be there, no? >> you said it, david. it is the waiting administration this is what they do. they have not been on offense

when it comes to russia. they've been too soft on dealing with putin. they don't really quite know how to deal with putin's aggression, and have really allowed probably the other nato leaders to take a more aggressive position. look, kamala harris was in poland, she was very ineffective she didn't show strength in terms of her leadership. it was a lot of giggling, a lot of laughing, and really not substantial, i think, in terms of providing solutions. at this point, i think it's going to be very interesting to see what, if biden decides to go to europe. i think at this point, it be very important for him to show up, meet with the nato leaders, and really have a plan in place to confront and deal with putin. i remember when i was at the white house with president trump , you know, he would call the world leaders. he wouldn't let it just go for weeks and weeks without having some sort of progress made in the phone call. david: mercedes you mentioned leadership and that is really the key here.

putin has been taking the lead and biden's just been following putin's actions. here is what our friend larry kudlow said about leading from behind last night. take a listen. larry: grow quite weary and indeed get kind of angry that every time vladimir putin makes a threat, president biden and his minions immediately look for a desk to crawl under. biden's rattles and nuclear weapons and the administration just goes oh, no, oh, no, no, we'll never do anything. it'll be nice, just once, if joe biden said that the united states has the nuclear force to destroy russia, and that putin ought not to forget that. david: what do you think, mercedes? >> well, look i think there's an interesting conversation happening right now between what you would say the neocons and those who are very concerned about escalating any sort of

invasion or the process in place, for example, the no fly zone where you see the nato allies, many of them, forest own yeah saying yes, let's put in the flow fly zone, other nato allies and america saying no because they are worried this would lead to a full fledged war so that is where i think there's a lot of this tension that's happening, which is how far can you go beyond economic sanctions and providing humanitarian relief to try to stop putin, because the reality is, is there is no stopping putin and they don't want to escalate this into a nuclear war scenario. we just, you just reported about the united nations saying that it is in the realm that there could be a nuclear war. that's, you know, talk about the destruction of the globe. that's where it would end. david: well, i think larry nailed it. just lead, don't just follow what putin does. lead, for god sakes, lead. mercedes we've got to leave it there i can talk for hours with you thank you very much for being here appreciate it. >> thank you. david: we have breaking economic data, the producer

price index, lauren breakdown the numbers. lauren: we're seeing double-digit gains wholesale inflation rose 10% on a year-over-year basis, monthly inflation did less and it rose just .8% in february from january. the data is old. it came the week before putin invaded ukraine, so you had 10% inflation before the war. david: right. lauren: then you had the big energy and commodity spike, we'll see that in march. david: kevin kevin hassett said weeks ago we were already at double-digit inflation and he was right and more than what was indicated there let's check the futures, we do have a rise in the futures as a result of the talks going on in russia, and ukraine, but again, this is very discouraging news on inflation. david nicholas is here. david, you know, you have the fed meeting today and tomorrow. they're talking about a quarter. what is a quarter percent interest rate rise mean when you have double-digit inflation? i don't think much of anything at all, do you? >> david, spot on.

it really doesn't mean anything. the feds just don't have the tools to fight the current inflation that we're dealing with. raising 25 basis points, that's not going to get americans back to work, right? that's not going to fix the supply chain disaster that we're dealing with. that's not going to fix production issues that are affecting so many companies across the u.s. , so what 25 basis points is trying to do the fed is trying to discourage borrowing because right now borrowers are being paid with inflation running at 7% it's really cheap to borrow so they are intentionally trying to stop consumer spending, they are intentionally trying to slowdown the economy but there's really not a good, the rule of the sevens, volcker raised rates , took it up to 20% what does that cause, david? sent us into two recessions in 1980 so there's no good outcome. david: do you know what they are doing, they're forcing consumer toss pay for government spending. government debt, they don't have to pay the race with interest rates so low they can afford to carry these trillions of dollars

of debt, but the consumer is forced to pay for irresponsible government spending. that's what the fed is doing and that's terribly irresponsible i think. >> david spot on. they are putting this on the backs of the american people when all this money was flowing around last year and consumers were excited about their stimulus checks they were getting in the mail, there was a caution saying look we have to pay this back and probably paying it back exponentially more than the funds we are see ing so david you're spot on. we're seeing it right now and it's important because who gets hurt? it's not the politicians in washington. david: not at all. >> it's the american consumers and small business owners. david: the consumers should not be bailing out this irresponsible government spending and that's what's happening and the fed is enabl ing the politicians to get away with it and it's very irresponsible. david nicholas thank you very much appreciate it. well, senator joe manchin is breaking from his party yet again, it's not just bbb. lauren he's shooting down president biden's fed pick, right? lauren: yeah, sarah bloom raskin

, senator manchin can't support the nomination for vice chair for supervision of the federal reserve because he's concerned she does not want , "an all of the above energy policy" meaning she doesn't support fossil fuels. in the past, raskin suggested withholding capital to energy companies, to fossil fuel companies. critics, including manchin say that politicizes the fed, these are 10 year terms you don't want to do that and it hits economic growth which we are seeing right now. david: absolutely we need domestic oil production, not domestic oil punishment, which is what we're seeing from the federal government. thank you very much. let's get a quick check of the markets. the futures are actually doing pretty well right now. there's a slow down in the rise of oil a lot has to do with what's happening in china where they are dealing with covid their economy is slowing down bringing down the price of oil and we also had that news on possible talks between russia and ukraine. all of the markets are in positive territory right now. it's early in the day markets

haven't even begun to trade but nasdaq is now trading over a percentage point gain, 132 right now positive on nasdaq, again we'll see what happens in about 18 minutes when the markets open meanwhile the administration using tik tok influencers, so-called, to spread their message that putin bears all the blame for high gas prices. roll tape. >> why is gas so expensive? i had the opportunity to ask the white house why gas down the street is $7 and here is what they said. russia is one of the top three producers of oil and is actually their number one revenue source. david: it has nothing to do with the war on fossil fuels by the biden administration. brian kilmeade has a thing or two to say about all of that, coming up, and the white house warning that there will be consequences if russia uses chemical weapons in ukraine stopping short of drawing any red lines, is that enough to deter putin and why are we always leading from behind?

waiting for putin to act before we react. i'm going to be asking military expert danny davis, right after this. we have to be able to repair the enamel on a daily basis. with pronamel repair toothpaste, we can help actively repair enamel in its weakened state. it's innovative. my go to toothpaste is going to be pronamel repair.

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enia and czech republic descending on a ukrainian capitol the prime minister as well as the deputy prime minister along with the s lovenian minister, the goal is to express support from the european union. meantime, with the russian offensive pending kyiv mayor kli tchko imposed a day and a half curfew starting 8:00 p.m. local time, the residents are prohibited from moving except to go to bomb shelters and kyiv is europe's forward operating base of freedom and ukrainians will not give it up. president zelenskyy continued to engage psychological warfare sending a message to demoralized russian troops. >> russian constructs listen to me very carefully. russian officers, you've already understood everything. you will not take anything from ukraine. you will take lives. there are a lot of you, but your

life will also be taken, but why should you die? what for? i know that you want to survive. therefore, i offer you a choice. on behalf of the ukrainian people, i give you a chance, a chance to survive. >> and an uplifting note, if there is one. you know the people in the town of mariupol have been pounded with artillery for 10 days-plus without food, without water, without power and they've also been unable to escape as repeated attempts at cease-fires all fall apart under russian artillery and other types of russian fire. well a convoy of 160 civilian vehicles today made it out of mariupol. the number of refugees is bearing down on 3 million with 2.96 million people escaping over the borders of ukraine. david? david: unbelievable and it is a great and uplifting point too that the european leaders are coming to kyiv in show of support. that is a very strong showing.

mike we've got to leave it at that good to see you my friend, take care. well the white house is dodging questions about where the u.s. is drawing its red line for russia's actions in ukraine. watch this. >> is there a concern that if we don't draw the line at something like chemical weapons it'll make it easier for actors to use them in the future, they will just go unpunished? >> well i think you heard the president say on friday there be severe consequences and the world would respond, if they were to use chemical weapons. david: let's bring in danny davis, he's a retired lt. colonel. danny is the white house're fuse all to draw a clear line in the sand emboldening russia even more? >> you know, the emotionally unsatisfying answer is yes, that's the thing and i'll tell you why, because the last thing we want to do is see this war expand. the idea and it makes sense on one level you want to physically punish putin and say we're going to strike you like we did with a

lasad in syria on a couple occasions because of the use of chemical weapons. that won't work here, because putin is not going to "get the message." he's going to retaliate in kind. he's shown that through his career that he will do that and we do not want american troops in syria, perhaps where the russians have aircraft or in poland where we have troops very close to where that strike the other night. we just can't risk escalation because it could spiral out of control and that does nobody any good. david: no, i understand but you know, during the obama-biden administration we saw red lines, you mentioned syria. remember when they drew a red line in syria? >> right. david: they went over the red line, and we did nothing. >> 2013. david: i want to talk about the mercenaries that russia is using, not only foreign mercenaries but also this vagne r group they used in syria and trump targeted them and killed over 200 of them and now they're in ukraine. how much damage could they cause >> yeah, they are augmenting

their regular forces also with some irregulars from syria who are skilled in urban warfare and so that kind of gives you an idea of what they're thinking but it definitely adds more capability to the russian forces and something that they rely heavily on. i think the vagner group is growing even bigger than that organization when trump targeted them. david: well trump targeted them and took out over 200 of them and that put a real crimp in their style for a couple years, right? >> it did, yeah. it was a big hit and it set them back operationally for quite a long time in syria, it did. david: it did indeed. lt. colonel danny davis great to see you, sir thank you for coming in appreciate it. >> thank you. david: now, this. goldman sachs pulled out of russia last week, but lauren the ceo david solemon doesn't think that it's wall street's job to crackdown on russia? lauren: he made a comment to time magazine, but so goldman sachs is keeping its market- making business in russia , so it l be able to serve as a market maker, right,

between the buyers and the sellers. like citigroup, like jpmorgan, goldman said we're going to hold on to our banking license in russia. it's very hard to get , it takes a long time to get and the ceo says look, isolating putin in russia, it's not the job of any bank particularly not our bank, and that's why they're keeping a limited presence there. that's the justification. david: yeah, their decision we'll see how it works out thanks lauren. let's get a check of the futures looks like it's going to be a positive day as the market futures are up quite a bit, nasdaq has been flirting with the 1% markup 105 right now, dow jones up over 170, little less than that, and s&p up 25. the opening bell is next.

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at vanguard, you're more than 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. david: well let's get right to your money, and bring in jim low ell, my old buddy, jim great to see you the fed of course kicking off their two day meeting today. i want to put forth a theory that i just mentioned that what the fed is doing is so irresponsible, they are keeping interest rates artificially low. we just got a double-digit figure of inflation, and a quarter interest rate rise is going to do nothing to kick down

inflation from those levels. they're keeping it low because they want to bail out the deficit spending by the politicians, because they don't pay any big price if interest rates are low. am i off or what? >> well, in fact, the politicians pay a big price if that deficit spending faucet gets shut off too soon, they are relying upon it at least in part as we went our way to what's going to be a very contentious mid-term. look the fed put a massive safety net underneath the economy, underneath the markets but just because there's a massive safety net doesn't mean we're going to land in that safety net. we could miss it by a mile. what the fed is going to have to do is i think starting tomorrow, chair powell is going to really have to take a much-stronger stance. not just against the things that we know aren't working well in the world, from russia all the way through to inflation, but also deliver a plan of attack that is believable and that is on-scale. david: but a quarter percent interest rate hike is not believable. i mean again, the consumer, the

consumer is paying a price in inflation, a huge price in inflation for keeping those interest rates artificially low, and all they do is bail out the deficit spending politicians. >> no question about it, my son sent me a snapshot of the price it was just to fill his car with gas out in denver, colorado and was wondering if he would ever make it home again so these are real and material issues from food to energy, and of course the housing market has been hyper-inflating over the last decade as well, so we need the fed to really step in, not just put a frame around this thing but as i said, deliver a viable and believable plan of attack. david: well what's unbelievable is the administration blaming everybody else it's the oil company's fault, it's putin's fault not my fault for my deficit spending that doesn't cause inflation. >> well, listen. anyway you wanted to define it, inflation has been running rampant for well-over a year, we have been way to late to ride to

any measurable kind of rescue whether it's from poll think makers or from the fed, they are going to have an uphill battle, no question about it, but hopefully that battle begins tomorrow. david: is it possible that we could see more than a quarter point raise? >> it is possible. i thought odds favored it before >> [opening bell ringing] >> but it is possible. david: right. jim lowell, great to see you my friend thank you so much as always, your brilliance is noted here. that's for sure. let's take a look at the markets , you see green on the screen, only two dow stocks in the red right now, it is a very positive opening on the dow it is opening 230 points right now on the dow jones industrial average let's switch to the subpoena by the way only two red in the dow. the s&p is up even greater percentage wise, up about three- quarters of a percentage point, up 31 and the nasdaq tech heavy is the best of all three indexes, up close to a full

percentage point, you've got microsoft, apple, alphabet, amazon, they are all posting gains right out of the bat, and susan is with us. >> good morning. david: good to see you. >> you're pretty happy with the microsoft rally today, close to $300 but look, everyone's watching the federal reserve as they start their two day policy meeting today and then tomorrow, we're expecting the cruise control announcement of 25 basis points, that's the hike we're expecting in interest rates and i think that 10% producer price increase this morning pretty much consolidates that, but i would say that the wildcard, david, is ukraine and how that impacts a path of growth for the u.s. economy. you know the fed will also release the gdp inflation forecast and the last time they met the last forecast they had in place for gdp is 2.5% growth this year, most believe that's going to be sub-2% especially with what's happening in ukraine david: they are also saying 2% inflation which is way off. >> goldman already cut their forecast down to 1.7 for gdp, 35

% probability of a recession but here is the good news for the stock markets at least is that stocks have gone so cheap, have you looked at the stock buyback by corporate? a record pace this year, which sets a floor for stocks, 238 billion spent by corporate in the first two months of this year, and have you looked at the treasury yields in gold and that tells you they are coming down, that maybe, maybe interest rates won't go up as much as people have anticipated. david: beware of catching a falling knife. that might be some of what's going on here. meanwhile let's see the price of oil way down, oil stocks are following suit, and susan, a lot of it has to do with what's happening in china right their covid problems? >> right also hedge funds have been unloading some of their oil contracts as well. they have been hitting the sell button because they are looking to raise cash somehow. you might as well cap out on profit, so yeah, we're sub-200 right now for west texas, pretty much back to the levels before the ukraine invasion, so that's a swing of 35 bucks for the past

two weeks, talking about volatility. you mentioned the chinese lock down, which means less demand, hedge funds have been selling those oil contracts to raise cash in this sell-off environment. the occidental, may a in know, halliburton all down today. david: a lot of chinese companies are selling off, right >> that's right so cheapest is 2016 and it brings up the question, do you want to catch a falling knife, pan in selling the worse since 2008, alibaba, jd.com, you have a multitude of factors here threats of delisting from the u.s. markets, a doubling in china covid cases, and shutdowns in mega cities like the silicon valley of china, shin zin, $ will hurt the supply chain and that might pressure beijing to ease up on the tech clamp down and maybe turn off the stimulus spigot, and beijing spent over $600 billion to prop up their economy. david: it gives us a little

political leverage in their dealings with russia too if we want to take that route we'll see if they are start enough to do it. take a look at tesla raising prices again but the stock is up about 2% is this for all models by the way? >> pretty much across-the-board , so i would say tesla is a recovery stock today, because it is sub-800 level that we haven't seen since the early fall days. now that inflation pressure means you're going to pay more for your teslas and remember that elon musk already set the stage for this tweeting that tesla, spacex will be impacted by inflation, high raw material costs and logistics, so all models across-the-board, the 3, the s, the y the x, they are all going up by a few thousand dollars to over $10,000, that's the top end range. david: $10,000 more, goodness gracious. >> and the $148,000 model. david: like you do. >> it really depends on the model and what performance you're going for the cheapest

model 3, the cheapest tesla car starts at under $45,000, not exactly the mass market $35,000 car that elon musk had promised, right? david: no, no, and he feels more comfortable in that $100,000 range to tell you the truth. take a look at the airlines, they are all in the green right now as the pandemic behind him? >> yup, so delta, united, southwest all raising their sales outlooks, same as air travel is rebounding from that omicron slump to start this year , so we're not exactly back to 2019 levels they are saying three-quarters or 75-80% of 2019 travel trends. now, oil prices coming down i would say is helping the sector rally today look at the 10% gains there, you did have jet fuel hitting 2008 highs last week and you're up 35% this year , which is a single- biggest expense for airlines so if oil comes down that helps them and their bottom line. david: now there's a software company, is it kupa? >> yeah. david: all right, huge plunge, 24% down what's going on?

>> it's like copa cabana, but with a u. so weak investor sentiment and type of environment we're in so if you miss you get punished badly, so they produce software that analyzes expense data companies to better right size what they are spending on down after forecasting sales well- below wall street forecasts , and now i also want to show you one of my favorite stocks up there because i don't know if you have grandkids yet, but -- david: i have one. >> kids video game maker roblox , they have 55.1 million daily active users in february, that they just announced so that's up by a quarter from last year, and they are guiding for over $200 million in sales, just in the month, so think of 28 days and a shortened february up by a quarter which is pretty impressive and roblox most of their users are below the age of 18 which means they have a long pipeline of stick inness and usage. david: my grandson is one - year-old so i think he's a

little young for that, susan thank you very much. take a look at the dow winners, boeing is up about 2.5% that is part of the big reason why the dow is up so much right now, big oversized part of the dow is boeing. s&p 500, united airlines we've been talking about those airlines they are really kicking it, delta, american, southwest, alaska, they are all up at least 6%, some in the 10% range, and the nasdaq winners if we can switch over to tech we've got the ross stores up two and three-quarters of a percent, starbucks, marriott -- >> an upgrade from benchmark to buy. david: a lot of reasons but nasdaq is doing particularly well, i believe it's up over a full percent right now. coming up president biden says he welcomes ukrainian refugees to this country with open arms, roll tape. >> welcome ukrainian refugees, should welcome them with open arms if they need access. david: but guess what that's not the case at our southern

border where ukrainians are reportedly being turned away while millions of others are being flagged right through. and an act of bravery a woman working at one of russia's state -owned tv networks look at that crashes her own air to protest putin's war on ukraine, we'll tell you what happened, next. and the anti-fossil fuel talking points you've been hearing for years from the left and from president biden even before he was president, congressman dan crenshaw says all that script was actually originally written by the russians, so that they could increase their market share infos ill fuels. he's here to sound the alarm, right after this.

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david: well, the average costs now, average for a gallon of regular gas is $4.31 of course

it's much greater in other parts of the country. grady trimble is in shiller park , illinois, with the very latest. grady how are drivers handling the high prices? reporter: and this is one of the place, david, where it's higher, 4.73 just came down $ 0.06 since we've been here this morning so i guess that's good news but right now, drivers don't have much of a choice but to pay the higher prices. i did just speak to a gentleman pumping gas here though, who told me at some point if these prices keep going up or even if they come down a little, but stay high, they are going to have to cut cost in other parts of their budget and that's the concern now that it's not just filling up your tank that's going to cost you more, but that the prices of just about everything else are going to keep going up as well. we're already seeing start of that with uber and lyft. lyft confirmed to fox business that tacking on a temporary fuel surcharge after uber made a similar move last week. we don't know how much that fee is going to be for lyft but each

uber trip will cost you 45 censor 55 cents more depending on your location and each uber eats order will go up by $0.35 or $0.45. grubhub also announced its increase in pay for drivers but didn't say whether it would pass that cost on to customers. you mentioned the national average for a gallon of gas today $4.31, that is up substantially from a week ago. it is down slightly from yesterday though, and from the record high on march 11 of 4.33. triple a though says that even as oil prices come down and gas prices will probably come down with them, the market is still volatile, david, so we could see another surge as soon as this week. you just don't know where oil prices are going to go. david: riders don't want to pay more but you've gotta have a lot of heart for those drivers, those uber and lyft drivers are paying a high premium, a big cut out of their pay day comes from the higher gas prices grady thank you very much appreciate it. now let's bring in congressman

dan crenshaw, one of our favorites here republican from the great state of texas where he's broadcasting from. congressman you say this administration's war on fossil fuels has actually been a part of russia's strategy for year, explain. >> well, right. look it stands to reason for anyone whose paying attention that the russians don't like american natural gas, they are the biggest competitor. we've taken a large part of their market share, and so they see all these radical environmental groups, that operate within the united states , that hate fossil fuels, they are ideologically opposed, worship the solar and wind power and the russians say well why don't we fund them because they seem to be doing our work better than we could possibly do it, and the more we dig into this , you find, for instance that there's a shell corporation in bermuda called kline limited which primarily funds organization in san francisco called sea change, which then turns around and funds a lot of groups that you would know like sierra club, for instance and so the energy and commerce

committee was investigating that as we speak though we've just started that investigation we've sent out letters to all groups demanding that they come forward and be transparent with their funding. it goes back further that in that. you know in texas, we lost a big deal with france, big natural gas export deal with france because the french said all of a sudden the carbon footprint is too high. come to find out now there's allegations that the russian gas got to them and said no you need to buy ours and russian natural gas is produced much dirtier than u.s. natural gas but it's these radical environmental groups pushing this and i'm not the only one saying this. there's been reports from the nato secretary general, even hillary clinton admitted this was happening that anti- fracking propaganda was largely funded by the russians, that senate foreign relations committee has done reports on this , of course my own energy and commerce committee is doing a report on this , so this is not a big secret. it just has not been well publicized. the people need to know that anti-fracking propaganda that

you hear can come from russia. david: now since you're part of the minority, you don't have subpoena power, is that correct, so you can't get as much as you could get if you guys were in the majority, right? >> that's exactly right. we do need to win the majority to have that power. david: yeah. i want to ask you about venezuela if i can. i don't understand this administration's pursuit of venezuela filthy dirty oil, i used to cover latin america. there's no oil company in the world dirtier than petevesa, and they are only producing less than 700,000 barrels a day, that's just about equal the domestic consumption in venezuela. they give some away to cuba and they don't even have much oil to give us. why are we going full speed ahead and engaging a narco dictatorship for somethi ng that they don't really have much of? >> right, and their infrastructure to explore and

drill oil & gas has been largely decimated because of the fall of the country, of course and there's plenty other places to look. mexico obviously has large reserves, colombia, ecuador, other places to look and also right here, domestically in the united states. david: that's the main thing. >> right. david: and by the way -- >> you could actually allow these to leases to go. david: instead of releasing the oil and natural gas here, there's this new proposal for a so-called windfall profits tax which equals about 100% of their profits over the past couple of years and that would decrease domestic production even more, so we're doubling down on our penalties against domestic consumption and production. >> right, and so they do all of these things, they double down on penalties, they punish the oil & gas industry and then biden turns around and says why aren't these greedy profiteers just producing more? well they aren't producing more because you put such a chilling effect on their industry. investors won't invest on an

industry that might be taxed or regulated out of existence. they aren't investing in an industry that can't get the leases it needs to start those drilling. you know, look i also debunked the lies the administration told about the 9,000 permits out there. that's a misleading number. it takes a lot more than just a permit to start drilling. a lot of pieces of the puzzle have to fit together. you need the additional leases to get your rights away figured out, your environmental permits. it doesn't all just happen at once, and so these companies are going through those motions as we speak, they have about two years to do it when you get a lease approved but we're also at the height of permits being utilized over 75%, so it was a very misleading comment and i don't understand even in the midst of all of this and all the pain at the pump, this administration continues to be 100% against our domestic oil & gas industry. it makes no sense. david: you also by the way need a pipeline to put that oil or gas into and they are eliminating a lot of the pipeline, dan crenshaw great to see you, sir thank you for

being here, appreciate it. well former special operations intel analyst brett velakovich is working day and night to help rescue americans stranded in ukraine and he will join us live from the war torn country with an update right after this. alized. based on your goals, whatever they may be. all that planning has paid off. looks like you can make this work. we can make this work. and the feeling of confidence that comes from our advice? i can make this work. that seems to be universal. i can make this work. i can make this work. no wonder more than 9 out of 10 clients are likely to recommend us. because advice worth listening to is advice worth talking about. ameriprise financial. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today.

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david: time to bring in former military intel analyst and drone expert brett velakovich, who is speaking from the region. brett, you are in ukraine, you're working to help rescue people, you're just south of kyiv. what's it like exactly where you are? >> well, my current location i'm in a safe house right now. we had a bunch of air sirens today, but you know, the fact is i'm still okay, just another tuesday in ukraine, so a lot more people, i'm sure, are in a lot more dangerous places than i am and i'm supporting an organization that's made up of ex-intelligence and ex- special operations personnel extracting stranded americans and allies, project dynamo. these guys are an incredible organization that over the last couple weeks has already extract ed over 200 american allies, ukrainian women, children, and elderly and there's still hundreds of americans still trapped throughout ukraine and they have no idea what to do or where to go.

the situation on the ground is terrible and the humanitarian crisis is only increasing. david: brett, i can't express my gratitude. i mean, i don't have anybody there, but i've known people behind enemy lines, and what you're doing is god's work. god bless you for that. how much longer are you going to stay, do you know? >> stay as long as i can until we get as many people as we can out and that's getting more and more difficult, quite frankly. russia is exacerbating the humanitarian catastrophe all across the country. they are targeting civilians and evacuation routes that were previously clear. people are very afraid to move, and so as a result, project dyna mo team has to go deeper and deeper into the country as russia continues to take more terrain so it's getting quite frankly more and more dangerous for us as the risk continues to elevate every single day. we had a case that we've been looking at very hard right now, of an individual that is literally surrounded by russian tanks right now, one tank on each side of the street. the russians have been trying to get into this house unsuccessful ly. his neighbor literally was

without water and tried to go get water and was killed immediately, so he's stuck and that's the current situation here is many cases, these refugees and folks all across the country it have no electricity, no heating, food, water. people are literally melting snow to drink water or drinking water out of the sewer, gas stations aren't opened, stores limited supplies we're seeing homes unoccupied being looted by russian troops, and unfortunately, i think it's going to continue for the foreseeable future until we, you know, the war starts to calm down. david: brett, you are in our prayers, hang in there, brother, god bless you, and god bless your work and we wish you the very best. you're doing god's work appreciate it. still ahead, brian kilmeade, governor mike huckabee, jason chaffetz and bill bennett, the 10 a.m. hour of "varney" & company is next. ♪♪

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dave: it is 10:00 eastern time. let's get to your money. the markets are all trading up a nice healthy game. oil is down, good news for most of us except those in the oil industry. 7.5% as a result of what is happening in china. also talks between russia and ukraine.

the 10 year yield is down 6 basis points, trading to percentage points on a 2-year that coin. it is well below the 40,000 per coin. democrats losing from public fury over rising energy prices are pushing a plan for massive tax on domestic oil companies. they claim the revenue from those taxes would be sent in checks to people as quarterly rebates. they call this. it is a winning issue. what do you think? >> will drive prices higher. it is a ruse to try to distract from the basic policies of the biden administration that shut down the ability to expand and

drill and develop our own united states-based energy. dave: we will have less domestic production, 80% dependent on fossil fuels and have either a shutdown in a lot of energy production or higher energy prices than we have now. this is not a windfall profit tax but kill fossil fuels in the united states tax. >> that is exactly right. investment like circuitry, you have so many on the far left including biden and harris pushing radical green ideas. they set out when they took over this administration to drive energy prices higher, they campaigned on it. they believe high-energy prices are good for the environment and drive a move to green energy. this is their goal. they achieved it and the

american people understand that. dave: 70% disapprove of the way vladimir putin is dealing with inflation. to fossil fuel production in the united states. it is not working. but the lure of money is pushing the windfall, alaska, taxpayers, they don't use that, it does sound like a bit of in allure, that do that. >> they redistribute that money. governors have to deal with this. gavin newsom and others say let's suspend the tax and drive prices lower.

develop energy products that are here, basic economic supply and demand, an increase in supply, we can do that. stuart: i switch back to the war and what is happening in russia. we hear about ukraine. a russian tv newscast. she worked for the company and was protesting the war in ukraine, chanting in russia, stop the war, don't believe propaganda, they are lying to you. is this symbolic or could the protests in russia grow? >> they could grow. the ability to communicate around the globe with social media is pervasive. this woman is missing now. that's not surprising. the consequence, don't think things will go well for her personally.

the people in russia and china and others can see what's going on in the world. look at what elon musk and others are doing is a concerted effort to get truth out there and it works. dave: congratulations to elon musk, appreciate you being here. the fed is moving today and tomorrow. >> the quarterdeck is all but guaranteed to gauge how policymakers will attain raging inflation. the fed is so far behind the curve, the economic models are dated. they overestimate the growth of federal spending and underestimate the tax cut.

the market is pricing in 6 quartered plan points. at the end of the year, the fed rate is at 13/4 and 2%. that is low but it is lower than we are now, can we handle it with recession talk because of inflation. dave: it would be well below inflation and the only way to do that is to put interest rates above inflation. thank you very much. scott, i want to talk about this new windfall profits tax, and and the deficit spending in washington, and not working hard enough on killing inflation.

>> part of it is they want to ruin the party. a lot of folks i'm in the camp of 3 rate hikes and a lot of folks in the camp of 6, 7 and i heard on a conference call 12 or 13 next year but i don't see how they will do that. look what the yield curve is doing and the fed doesn't want to ruin anything. we will see inflation run a little higher and hotter and longer than we would have thought but they don't have the stones to do what volcker did and impossible to surgically remove inflation without moving the rest of the economy. we run the risk of job losses. job losses and high inflation, sounds like stagflation to me. you mentioned what the fed

might be thinking or the wall street journal said. i make it easy for everybody at home. when i played football i played college football. when the coach got on the grease forward, marking the exes the xs and os. they can diagram a play. my coach would make sure to tell us all, the other team moves. the fed doesn't have the next level. they think the other team will not move and it will be touchdown every time. they think it's a dynamic market and things changed. dave: got to get you on oil, the idea of increasing domestic oil by 100% when they work everything in. what would that do to domestic

oil? >> when the government gets involved in any business they make it more expensive. got involved in fossil fuels earlier trying to push us to renewables, nobody wants to renewables and have driven the price of fossil fuel through the roof. that will be the same thing and a noble idea to make it better for us, anytime they touch anything they make it more expensive. dave: one of the supposed formulas in economics was taught to me by larry kudlow who said if you want less of something tax it more and you will get less and the last thing we need is less oil production in our economy. you are a wise man, thank you for being here. mark warner speaking out about russia's fiber arsenal. >> reporter: amazed the

russia's cyber warfare is muted. >> i am relatively amazed that they have not launched the level of maliciousness their cyber arsenal includes. in the fiber domain we are seeing videos coming out of ukraine, surprises me. the fact that they've not launched an attack where software that includes worms go from one network to another. >> russia might not want to damage ukrainian infrastructure. if they take kyiv it is expensive to rebuild and russia never thought the morbid last this long so they didn't have something coordinated in advance and never thought we would be on day 20. dave: someone will pay a price for that in the kremlin. you have some movers. let's start with walmart. lauren: they are hiring 5000 tech workers this year was i

visited the command centers in walmart retail stores and some of those stores enable the automatic checkout. retail of the future and walmart is doubling down on it, when in canada, one in atlanta. let's look at toyota. and cutting by 20%. stock is up 2% they cut the annual target. mother are not up 9%, gaining the s&p 500 getting those gains back down 3%. dave: still ahead for the week. president biden turns to tiktok influencers to help him but the blame for high gas prices. >> wise gas so extensive? i had the opportunity to ask why it is $7.

russia is one of the top three producers of oil and their number one inventory. dave: i listened to her before. the message is baked in the president's mid-time warm-up speech and nearly 3 million ukrainians have fled that war-torn country and refugees unsure where to go next. overwhelming neighborhood countries like poland. ashley webster has that report at 11:00 and ukraine's capital city issuing a 35 hour curfew as russia pushes the scorched-earth offensive on the capital, kyiv. mike tobin on the ground with the breaking updates coming up next. feel stuck with credit card debt? ♪

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dave: the markets off a little bit. at least the dow has come down from its 300 level, 154 points to the plus side. market in the green. nasdaq up 0.9%. a big drop in oil below $194.24 a barrel. that has to do with the slow down because of a covid outbreak. tech stocks doing well. amazon up 2.30. that is a gain for amazon. as russia bombards kyiv many locals fled to western ukraine and sea of azov. i understand as safe as it is compared to the capital city air raid sirens are going off.

>> we've seen the past 5 days, four days four airstrikes to specific targets, three of them military, one of the television tower. the war has come to this part of the country but we are watching the capital city, what should amount to unprecedented support from the european union, leaders from the czech republic heading to the procedure capital city. the prime minister coming to kyiv along with the slovenian prime minister, the check prime minister said the goal is to express unequivocal support for the european union. schevnko. said residents are moving except to go to shelters. kyiv is europe's forward operating base of freedom and

ukrainians will not give it up. president zelenskyy continued to engage psychological warfare on the russian troops with this message. >> >> translator: russian conscripts, listen to me carefully. russian officers, you have understood everything, you will not take anything from ukraine, you will take lives. there are a lot of you. but your lives will also be taken. why should you die? what for? i know you want to survive. i offer you a choice. on behalf of the ukrainian people i give you a chance to survive. >> reporter: we talked about the besieged key strategic city of mariupol which has been surrounded and pounded for more than 10 days. civilians without water, without power have been unable to escape because every time a cease-fire, and uplifting notes.

convoy of 160 vehicles made it out of mariupol adding to the number of refugees looking at the 3 million mark, 2.96 million refugees crossed the ukrainian border. dave: please take care of yourself. with think that is with me is the president of the ukrainian chamber of commerce and industry. u foing beinherererere are hee ap calal y capiy cay cay setet ppsu, liviesl su llilie r d r erenerer ukrai uig attacin russiassndess.ess.es fit of all, business.ne

it is a big challenge. 75% of ukrainian businesses, it is never as before and big humanitarian -- more than 3 million ukrainians abroad moving from ukraine. nearby, 7 million ukrainians from mariupol to the western parts of ukraine. it's not easy for this region. huge pressure to supplies of the system.

dave: with all of those people leaving is anybody doing the farming? bringing markets to the cities? >> the situation is different. in a city like mariupol it is impossible, they didn't see the products last more than one week to be less stable. ukrainians with the international support, with citizens. but you know the russian troops -- it is quite difficult for ukrainians to supply cities like i mentioned, difficult situation.

ukrainians looking for any opportunities to support the ukrainian this in this seat. dave: i'm sure you realize this but the whole world is praying for you and we are doing everything to get into your country. let the folks know that we are really behind you and trying to move stuff in as best as possible. >> thank you very much. ukraine fighting for democracy, freedom and the future. these are not very easy. dave: you are putting it mildly. you are a discreet man. appreciate it.

one nato member nation calling for a no-fly zone in ukraine. nicole: they say the only way to prevent mass civilian casualties in ukraine but most members of nato are reluctant to do a no fly zone because it puts them in position to shoot down russian jets and that pulls you directly into war. a member of the estonian parliament will be on the show tomorrow. leaders of 30 nato countries are discussing a brussels meeting next week. that what mark a high-level show of force dovetailing the plans to go to europe soon. united front against vladimir putin is strengthening but not deterring. dave: appreciate it. within the realm of

possibility. >> it is a bone chilling development. the prospect of nuclear conflict, once unthinkable is within the realm of possibility. dave: mike huckabee will respond to the nuclear threat in our next hour and top us and chinese officials holding a 7 hour meeting after vladimir putin calls on china for military and economic support. 7 hours. will their be repercussions for russia's only lifeline which appears to be china. edward lawrence has more from the white house next.

dave: checking markets is a good day. the indices in the green. look at the nasdaq, up almost 1.5%, up 182 points. still below 13,000 been edging closer to 13,000 at least today. a lot of it has to do with oil coming down dramatically and possibility of talks between russia and ukraine. the treasury department lifting restrictions on russians and

the president of belarus which is friendly to the russians. nicole: it is happening to past aggressions. they were connected to human rights violations and concealing events related to the death of the russian whistleblower who uncovered tax fraud by top russian officials years ago and human rights abuses leading to detainment of a civil rights advocate put in jail for a false drug related charge was the president of belarus and his wife hit with sanctions for a patronage network that benefited their inner circle. dave: a real hero in world history. top us and chinese officials held a 7 hour marathon meeting. jake sullivan calls it intends. edward lawrence, what is the administration doing to deter

china? >> stern warnings and very intense meeting, waiting to see if china's action this follow the words they told the us. the russian president, vladimir putin, asked for military assistance with the invasion of ukraine, visa and mastercard pulled out of russia, they make everyday transactions, national security adviser jake sullivan have a 7 hour meeting with the chinese counterpart, warning them not to come to china's aid. china wants to avoid sanctions by the us and others which lindsey graham is saying we have to have those sanctions ready to go. >> of the chinese to arm russia and provide assistance to get

around international sanctions. anybody and everybody, to prop up the war criminal vladimir putin. reaches the white house is offering stern statements warning china, there is no morning from the white house about us investment in china or us companies, investing in chinese companies. >> the fact that china has a conversation about helping russia. should us companies with their investments and be cautious, what is the message? can you trust the chinese? >> i don't think it is about trusts but haven't made a request at this point. >> reporter: the us trying to see what side of history the chinese want to come down on. dave: joining me is american business anchor, thanks for being here.

is china acting as a lifeline for russia? >> good to see you and something people should know is the us is a major trading partner, so is russia, doing business with them before the war started. in terms of the lifeline, not the traditional sense but historic, they've been working with china and no secret that vladimir putin and xi our friends. in response to what senator graham was saying, you tell somebody not to do something the first urges they are going to do it at the most likely scenario is they will provide, quote, humanitarian assistance. reports in the form of food to the russian soldiers, they may provide ukrainians as well.

dave: the big-ticket items. russian oil flowing to china, china must realize it could use russian oil tremendously to fuel its economy at a discount from what were those in the west -- >> chinese are major importers, one of the biggest in the world. from russia and china among different imports into china. think about it for a second. if you are one of the biggest importers of oil and gas you don't want to see prices skyrocket so from china's perspective, you will see some democratic mediation because it is not good for their country as well. dave: the bottom line is they are more sensitive to economic

sanctions, world economic sanctions. they deal with the world more than russia did. russia was a more insular economy. 50% was one products, oil, china is more diversified. the world apply sanctions dealing with russia more than the world says it should china's economy will be hurting. >> this is on a backdrop of their recovery efforts with covid. sanctions in china, very bad for china but not great for us either. i will give you a silver lining. the fact that yesterday's meeting went several hours is a good sign they are talking. publicly traditionally always tough words but privately i think you have to hope they are working things out. dave: good to see you.

beijing wants to avoid us sanctions was what i've a saying? warner: we are neutral in the russia/ukraine war and there were several talks, china's foreign minister says we want to avoid being hit by sanctions which would happen if they help russia whether that be militarily or financially. financial times reports china is signaling a willingness to provide surface-to-air missiles, drones and three other types of equal into vladimir putin. cnn is reporting vladimir putin asked for food because the russian troops are hungry because of his strong and surprising defense by ukrainian forces. you have china, mostly in lockdown, sanctions would hurt them. that fear hit their markets today. the hong kong exchange, 5.7% overnight. dave: feeding the army that is

murdering ukrainian civilians does not sound like china is helping our interests at all. warner: they say we are not doing anything, whether you believe that or not, reports the russian army needs food, tells how strong president zelenskyy and his fighters are. dave: whether we need to start the army that is murdering civilians rather than hang them is up to our negotiators which when ukraine's president zelenskyy will address congress tomorrow in a plea for more american aid. it will be quite an address. what else does he need to do and what else does he need from us? the former translator will give us an update in the next hour. progressives are doubling down on their green agenda to fight record high gas prices but not all democrats are on board with the party's green push. hillary vaughan has a report from capitol hill next.

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dave: a market rally going on. dow jones industrials up 320 points. s&p up a greater percentage but nasdaq zooming ahead up 200 points. still below 13,000, inching up 12,799. oil dropping significantly below the $100 mark. the energy agency says the worst isn't over despite the drop today. >> russia is a top energy producer. if we don't use their oil rest of the world does. just today, russ's pipeline

takes gas west, it halted. to new energy sources, that includes green energy and renewables but fossil fuels from players that don't have a say like canada and brazil. something to consider. dave: don't take advantage enough of canada. gas prices staying at record highs and house democrats making the renewed push for climate sections of build back a better. hillary vaughan has the latest, progressives want the president to do this through executive orders. >> reporter: since there is not much chance of bipartisan agreement on capitol hill that would be the best option for the president but the white house did not have positive news for americans feeling pain at the pump. jen psaki saying it will get worse. >> we believe it will go up but

we are trying to take steps to make it that and reduce it. >> reporter: democrats have an idea, they want the president to bring back the climate portion of build back better that would set aside $555 billion in funding for climate resilience and clean energy. telling the president this in a letter, every day they failed to move forward, american families will continue to pay the price at the pump saying moving on build back better, the climate portion, is the only path to bring prices down at the pump. the president at a fundraiser last night told donors in advance of aggressive climate goals we will cut costs for families an average of $500 a year, not something anybody at this table worries about but when everything from the price of gasoline to heating your home goes up it is a subject at the dinner table, it is real. the president told donors he's

quicker at using what executive orders he can and one of the reasons he put a climate office at the white house is so they can advise him on what measures he can do by himself alone and what measures he needs congress to help him on. dave: i'm glad he knows one thing is real. democrats are also looking to tax oil company profits. you are in the oil field last week. what was this incredibly large tax? >> i asked that directly in the answer i got was this incentivize them to bring down gas prices. here is the ceo of the producer. >> to slow down domestic oil and gas, implement a windfall,

it is counterintuitive, to stimulate domestic production. we are pouring these wells back into the ground and that windfall profits would siphon off part of that money to cause us to slow down and not drill like we can now. reaching some democrats like senator whitehouse wanting to big oil companies if crude reaches and prices and send that to americans as rebate checks. that is what governor do some wants to do. the state legislature just turned down republicans plan to suspend the state gas tax, that is $.50 a gallon. the reason they overwhelmingly voted not to do that is oil companies manipulate the fact the $0.50 tax -- dave: they have 0 understanding of what investment is about no business sense, they are professional politicians which i'm so glad you went out to

those oilfields. >> reporter: the energy market is a regulated with environmental concerns they have to meet that they can do this pretty cleanly. venezuela can't. dave: it will kill investments. dave: an american astronaut trying to get back to earth ahead of russia space agency threats to leave him behind, new details in our next hour. america dealing with rising prices. now a un agency warning a 20% food price hike may be on the way. brian kill need is on the way. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪

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dave: we are three seconds from 10:51 on the east coast and that means brian killmeet. you have a great interview with the supermarket emperor of the new york and he told us 20% food inflation is coming down the line. it is not stopping. >> reporter: he said we should

by now, 7.9%, he says it is only going to get worse from here. when john comes to the table, the self-made success story, a bunch of stuff including condos and hotels but also refineries and he's meeting with representatives from canada and mexico and says we could fix this problem. we could have our own version of nafta between all three countries and wouldn't have to worry about venezuela or iran or the middle east, we worry about russia and he wants to put this to private business and we are 1 million barrels a day short of where we were under trump. please stop saying nothing has changed. dave: it is the war on fossil fuels causing the problem with domestic production. it's not rocket science which the president says it is putin's fault even though prices were going up before

russia's invasion was on the radar screen but now he's using tiktok influencers to try to push his line. let me roll tape and get your reaction. >> gas is so expensive, why is the united states inflation rate at or four time decade high? i asked the white house, $7 and here's what they said. russia is one of the top 3 producers of oil, the number one revenue source was this terrific fight between ukraine and russia, nobody wants to work with him on international trade. dave: she had the opportunity to talk to biden. you were just talking to those dumb oil producers who don't know a thing about the oil business. >> a good move, where do i find 18 to 25, rather than try to win them over on political speech, all of a sudden the

white house reachedes out to you. that woman has 10 million followers. but -- dave: they have a lot of viewers but the polls, 70% of the american public doesn't believe vladimir putin is the reason inflation is up. >> they are chipping away at it. when you are on tiktok, if you do that, you have an opinion about things, kardashians were the first to have a social media influencer. and if you go to tiktok, to find out about oil and gas prices you are infecting them. the big story, don't think anybody buys it. they are trying to find a spin out of it. in the big picture you look at what europe is doing.

today, ask them to pump more. they are as green as we are. they beat us to the green movement. the green party has a president in germany. dave: meanwhile we are going to venezuela. i don't know why, venezuela doesn't produce much oil, they produce 700,000 barrels a day. that meets their domestic consumption. they give some to cuba and nicaragua but none left over. >> i think it is because he says where do i get oil? iran? russia is off the table. i've got to go to venezuela. we don't recognize maduro as the rightful leader and now we meet with of them. our allies are probably flabbergasted.

you told me a few years ago, now they don't have the infrastructure to produce more. the oil exports have nationalized it. he flies done and -- dave: even in the best of times. we need you and your wisdom. still a head, the member spokesperson, and president zelenskyy. mike huckabee and bill bennett, up next.

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>> feds are trying to discourage borrowing. trying to stop consumer spending. intentionally trying to put on the economy. >> chair powell has to take a stronger stand to deliver a plan of attack that is on scale. >> the waiting administration has been too soft dealing with vladimir putin. it is going to be interesting to see if biden decides to go to europe a. >> we don't want to see this more expand. vladimir putin will not get the message.

he will retaliate in kind. we can't risk escalation because it could spiral out of control and that does nobody any good. >> so money on the far left including biden and harris pushing radical green ideas, they believe high energy prices are good for the environment and drive a moved to green new energies. as make it is 11 am on the east coast on tuesday, march 15th. i am david asman come in for stuart varney. the market slowed down a little bit compared to the dow, up 280 points. look at the nasdaq, still up one and 3 quarters of 1%, up 270 points, below 13,000 but not by much. crude oil is down almost 8% drop right below $100 a barrel. it may go up later but it is down $95 a barrel.

it is down two basis points. still trading above 2%, 2.11%. the un secretary-general is sounding the alarm on the possibility of a nuclear war. >> the others of russian nuclear forces is a bone chilling development. the prospect of nuclear conflict was unthinkable, is back within the realm of possibility. dave: mike huckabee, former arkansas governor joined me. how did we get here? it seems a blink of an eye we went from watching what putin is doing, threatening to put on sanctions but not doing anything serious until he goes in and suddenly we are on the brink of nuclear war? what is going on? >> we don't learn a lot from history, the past shows us when we have week leadership, tyrants decided is a great time

to advance and take over territory. and what is happening in ukraine. vladimir putin made a calculated decision the world would be mush and he could do that, he could keep going. he was surprised by ukrainian resistance which inspired, the us has not been the leader that emerged, and said we stand with ukraine throated. we haven't done that. dave: when donald trump killed 215 of his mercenaries in syria. the waggoner group, operating in ukraine, they are tough mercenaries, a special ops

group, in syria he targeted them, between 200, 300 of them, it was done preemptively. there is no preemptive action. the way they deal with law and order, wait until criminals kill people and arrest them. >> donald trump would speak nice of vladimir putin in public, but treat him really with toughness vladimir putin wasn't used it was president biden talks tough but doesn't respond with tough actions. saying nice things at the podium and hammering them, they are saying ugly things about them at the podium but sitting back in the chair saying do what you want to do, it might make you matter.

how crazy can vladimir putin get from what he already is. he is already provoked. that is what is frightening. dave: you know who president biden is hammering, oil producers, the people we need to produce more, very clear this is a supply issue, goes to venezuela, before the invasion he went to russia, when we have it right here. i don't think there's a way to turn this around and american voters eyes before the election. >> president biden has made a boneheaded decision. this is like a farmer who has a lush garden in his backyard, don't eat any fruit and vegetables, we will go to the

most expensive whole foods in the community, 20 times what is in the backyard. we have more energy in the us, oil and gas, than the saudi arabia, venezuela, we are oil and gas rich, why not turn on the spigots? not just turning them on for 30 days, we have to give a guarantee those spigots will be unregulated to some degree, 30 months or 30 years, investment required to open those spigots, they are not going to do it, if biden hits them with a huge surcharge or additional tax, talking a windfall tax, that is the dumbest thing i ever heard, i've heard some dumb things. dave: lauren talked to oil producers who said we need the profits we are making to invest.

the people in power don't understand what investment is about. it is a years long, multi-year-long process to get oil out of the ground. you have to start now and this tax would kill any investments for the future. >> it truly would. demonizing oil and gas producers of america, why should we be enriching iran, russia, the saudis, don't mind it being someone in texas because he might be generous and not only his taxes with charitable things that benefit me and people like me, way better. dave: he's going to be hiring people. good union jobs as the president said he was in favor of would be made if these people were allowed to bring the oil out of the ground and bring prices down for consumers. >> let's remember it is a global marketplace with oil and gas producers of america will

never be able to charge more than the global market will allow and if they bring it out of the ground the profits stay in the us, we become energy independent and an exporter and that is a wonderful place for america. dave: thank you for being here, good to see you. back to your money and checking the markets was the dow jones industrial average up of 300 point gain. the nasdaq is up tremendously almost a 2% gain, getting close to the 13,000 mark again. will bar rukh joining me to talk markets. next week is going to be the buying opportunity of the year, tell us why. >> we can only hope for carnage into that. talking about dynamics come this friday, futures and options and contracts expire this friday and on top of that the federal reserve.

first the federal reserve, the policy announcement may come on the less hawkish side but we are likely to hear more hawkish chirping whether it is from powell in the press conference were the days following. when we get into futures expiration it is not uncommon to see a flush out when the market is working through this. it happened in september of the past year and in january of this year, we saw these flushes that come out and the market sells off through monday and monday brings tremendous buying opportunity after the cleansing. ironically just below the surface we have a big level of support in the s&p 500 and it was a year ago the market broke above 4000. 4010-4030 is a massive level and i can only hope for the

opportunity to be buying into 4010-4030. in december 2018, march 2020, those big lows from monday. dave: we are already seeing a bloodbath with regard to what is happening with covid and you think there is more to come. >> even if they rally i don't care. i don't want to be involved with that was the rhetoric for clients going back a year. no exposure in china and i don't trust this other layer of uncertainty with china, i would rather own some other big stocks around the world and try to dabble in china. dave: you are looking at movers. let's start with zoom.

lauren: the price target, 30% upside. they see upside potential. they like going forward. delta, united, completely leading the s&p. look at these gains. they both raise revenue forecasts. when is the question. they captured 70% of 2019 levels this quarter, and single, not double digits. the stock is up but the news is unrelated. they are planning to phase out their cups, the paper and plastic cups are and i quote a

symbol of the throwaway society. you have to bring your own cup or pay to borrow one. dave: i don't know. it seems silly. more than 200,000 ukrainian refugees arrived in poland the last 3 days of the country is overwhelmed. ashley webster has a report coming up. ukraine's president zelenskyy says they will win the war. >> russian officers understood everything. you will not take anything from ukraine. dave: zelenskyy addresses the united states congress tomorrow. a 35 hour curfew, devastating missile strikes would like to open has the latest from ukraine next.

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dave: russian forces struck a residential building in kyiv igniting a huge fire. two were killed. mike tobin is in lviv. you are on. all right. can you hear me? >> the phone hung up. dave: we lost mike. let's bring in alex bill can call for a translator for victor shevchenko. we know it is always tough in a war zone.

what is it like where you are? >> hi, everyone, thanks for having me. we are on the cushion relative to other people who were unable to evacuate safely as we have. i just heard mind blowing news about the guy who was helping my mother-in-law get evacuated. he was killed a few hours ago in an attempt to evacuate an orphanage. struggling to reconcile what is happening. concerned we are safe and sound. dave: you know this very well.

during stalin's time, stalin killed millions of ukrainians, to get what he wanted which is an end to the private farming in ukraine but you have to go back to the stalin era to find the brutality we are seeing now. >> exactly. what we are observing, what is developing in this bunker, will lead to consequences. i am often asked about how things will roll out and trying to carry through the same message. don't expect vladimir putin to stop with ukraine. one of the front men in the kremlin propaganda talking on his talk show and addressing

western countries said almost verbatim don't expect us to stop in ukraine. we will go on westward and do away with your nazi intention to conquer and enslave russia. certainly not this absurd message will be very happily accepted by -- dave: beyond that there are russians in ukraine doing the damage, the russian military, some of them are beyond redemption but are there russian army members who realize they were sent under false orders that the ukrainians were not happy to see them?

>> i'm sure there are. the accounts we received from prisoners of war and the ex-russian service men who surrendered, and where they were being sent it is hard to estimate to what extent they are telling the truth. they are trying to minimize their involvement. the opening is going on, they told they would. they are not being met with flowers and otherwise. casualties are going beyond -- dave: a lot of explaining to a

lot of mothers and sisters of the people serving in ukrainian. we wish you the best. our prayers are with you. the red cross is working tirelessly on the ground in ukraine and fox corporation donated $1 million, thousands of you have done the same. contributions, you can head to readacross.org/foxforward and joined the donators. make tobin is in lviv. sorry for the false start at the beginning but you are alive. >> we are watching this unprecedented show of unity in the capital city of kyiv. remarkable the meeting is happening, the manner it is happening, it is remarkable

because the leaders of slovenia, the czech republic and poland coming to ukraine's capital by train, they will travel across this war-torn land and see the devastation of the capital city to meet with president zelenskyy, have a photo op and show there is unity between ukraine and the european union. at the same time the mayor of kyiv has imposed a curfew that will last a day and a half starting 8:00 today. the city will be locked down until thursday morning. the mayor said it is the forward operating base to freedom and ukrainians will not give it up. the city of mariupol has been under siege, people without power, without water and they are unable to escape until today, so many cease-fires of fallen apart, a convoy of 160

vehicles left the city of mariupol adding to 2.6 million people who have traveled over the borders. dave: appreciate it. the crypto forensics firm elliptic may have begun digital wallets linked to russian oligarchs. tell us what this is about. >> reporter: crypto currencies were bought with rubles, that activity tripled last week compared to before the invasion, and they were linked to russians and criminal activity, proof that oligarchs use crypto to wave sanctions but it speaks to the asset class that crypto currencies have become. we can call them many things

but right now they are a way to evade sanctions and help people, the innocent ukrainians and innocent russians. dave: there is good and bad. look at this, thieves stealing 1000 gallons of diesel fuel from a gas station in texas. we will show you how they got away with it. there's a war going on in the united states on fentanyl and we are losing that war. bill bennett served as drug czar under president george hw bush and joins me next. i promise - as an independent advisor - to put the financial well-being of you and your family first. i promise to serve, not sell. i promise our relationship will be one of partnership and trust. i am a fiduciary, not just some of the time, but all of the time.

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(other money manager) ok, then you probably sneak in some hidden and layered fees. (fisher investments) no. we structure our fees so we do better when clients do better. that might be why most of our clients come from other money managers. at fisher investments, we're clearly different. dave: happening now president zelenskyy is addressing canada's parliament, tomorrow he will address the u.s. congress. we will bring that live. check the markets. gain on the dow and nasdaq, really pushing ahead. getting close to 13,000. let's get to high tech recovery. >> it is her search for the bottom by wall street, high-tech recovery with

treasury yields coming down a 25 basis point hike tomorrow but these stocks have been selling off 50% to 60% off of their peaks, they are down because of a rising interest rates. bottom fishing taking place here. i was going to ask about amc. i was expecting a question. amc is a movie chain operator. they are scratching their heads on this. adam aaron announced a 22% purchase with $27 million in gold and silver, quite a deviation from the theater business would dave: that is where people are going. susan: maybe it is a hedge, trying to accept more crypto

currencies, a hedge, and tesla raising prices across the board, you have to pay a few thousand dollars more for the high end from 0 to 60 in a matter of seconds. dave: inflation. one person under arrest after 5 w. point cadets overdose on fentanyl in spring break in florida. bill bennett was the drug czar, unlike the ukrainians we opened our borders to the invaders and fentanyl is pouring in. how bad is it and how do we stop it? >> it is bad, 100,000 people died, overdose or regular dose of fentanyl. we are not fighting this war at

all, the drugs go in and come in themselves. the president needs to enable us to go after them but that requires the will to take them on and take on the chinese. the chinese, west point guys trading to be officers, they shouldn't be messing with cocaine but the added danger of cocaine mixed with fentanyl. dave: the fentanyl will keep flowing in. i want to deal with another subject, the war going on and what it might escalate into and if we are prepared. the us spent we for decades, $200 billion on missile defense but a new study showing ability to defend ourselves against a russian nuclear attack is nonexistent, that's not

effective. >> we are spending money on the wrong things. and we are digging deep, we can't defend ourselves against russian missiles. they can protect 75% of their citizens. we cannot protect 70% of our citizens which they drop a bomb on dc a lot of people will die and this is a terrible thing. this missile defense, democrats are opposed and republicans didn't have it as a high priority. if you wonder why there is so much hesitancy about no-fly zones we can't protect the american people, we failed to build this missile defense. a targeted $100 billion over three years could do it. that requires the will to do

it. i don't think this president has it. dave: i remember when ronald reagan was president, he talked about missile defense, he called the plan star wars because no one believed it was effective. protected thousands of their own citizens, the missile defense system. we can have that here but takes fortitude on those willing to spend the money. >> republicans don't have it as a high priority. one of the reasons we won the cold war gorbachev was worried about star wars. he had a sense that it was bigger than it was. ronald reagan, one of his colleagues that you just won the cold war, he's afraid of star wars.

dave: here we are. final one, let's leave on a positive note, we had a change of government in virginia, governor youngcan won on the basis of education more than anything else and trying to turn around the woke system of education. how is he doing? >> he is doing well. is legislation is good. it is tough because you have teachers unions and school boards opposed. when i was secretary of education, and run for the school board. and the governors are making governments. people need to listen to parents. every parent is a teacher. >> you've got to pay attention to the school board.

no one cares what down ballot but school boards are very important. they have it. >> they've got it. as far as what is going on in some of these schools, gender discussion do you want to be a boy or girl or critical race theory, what about math, reading, history? dave: we are slipping but can turn that around. i mentioned ronald reagan, and to see you. >> the neighborhood says hello. dave: we told you about the american astronaut who needed a ride home from the space station, the press secretary

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dave: nasa has come from the astronaut on the international space station will return to work later this month. how will he get back? >> god willing he will return to planet earth with the help of russian cosmonauts at the end of the month. he is scheduled to leave the international space station later this month after boarding a russian spacecraft that takes him home but nasa says space is collaborative particularly between russia and the us but what we are seeing in ukraine makes you wonder if more goes up to space as well.

dave: apparently it does but in this case he will be back. thank you very much. poland looking for relief from the refugee crisis after half of the 2.8 million refugees have crossed the border into poland. go ahead. ashley: right on the border. you just missed a huge group of children who came from the ukrainian side into poland and this is what they see, a series of tents set up with an whole array of services, clothing, food, location services. these people are bewildered once they arrive here. i spoke to a young lady who said she has no idea where she goes from here. she's also very uncertain about the future of her country. listen to this.

>> my question is when will i go home and will there be any home left? i hope it will and of course i am -- it might be longer. ashley: the latest number is close to 3 million refugees coming out of ukraine, poland taking the lion's share, 1.81 million people. officials saying it is becoming overwhelming. i spoke to a native of kyiv who jumped on a bus bound for denmark finding a place to stay, but she said she wants to get home. take a listen. >> with all my heart, to go back home because it is my motherland. i love ukraine and i want to

stop the war, killing our children and bombing our hospitals and schools. ashley: the warsaw mayor, 60 miles to the west of here, he says, quote, it is necessary to implement a system of european and international aid. he says we are facing the biggest migration crisis in the history of europe since world war ii. as you watch the flood of people come through, lots of dogs, lots of cats, guinea pigs, hamsters, even a parent. people bringing family pets and the clothes they can take and head into poland, very uncertain future, not knowing when they will return but poland starting to ask for more help from the international community. dave: you want to bring any connection you have with you as

you escape the country. take care of your self. appreciate it. julia mindel is former spokesman for president zelenskyy and jointly now. our prayers are with everybody behind enemy lines, we heard president zelenskyy speaking to the canadian parliament, a three minute standing ovation after he spoke. to the people of ukraine know that your president is having such a dramatic effect on the way the world views this situation? >> thank you for having me. it is rising every day around the country. people appreciate the kind of leader in this military crisis we are experiencing right now

and all around the world coming into ukraine, we don't have censorship like russia does. the world is united around ukraine but zelenskyy played a major role in this unification. we are grateful for these things. dave: tomorrow he speaks before congress. >> the president is grateful for every ukrainian, the western united states, the recent decision, to help ukrainians support their army and provide humanitarian aid is super important and we see this unification and the second issue, the president is looking for any type of forum that

could solve this crisis. to hear about the no fly zone, providing us. ukrainians are being filled every day and i expect this from communication with the government, that this appointment, looking at different performance. the united states can help ukraine to find what provides security guarantees. ukraine -- i want to add -- ukraine used to be the third

nuclear power the provided -- with three government mores. and to invade ukraine, with ukraine. russia is one of the countries, invading and -- independents and democracy which will not be possible. dave: we wish you the very best. millions of people in the united states are praying for success against the tyranny from russia. >> every support that we get. dave: i understand. appreciate it. the price of coal is hitting record highs. a giant coal-fired plant in delaware is next. ♪♪

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dave: relatively clean natural gas from an anti-fossil fuel administration the gap is being filled by dirtier fossil fuel known as call.

jeff flock is in philadelphia, seeming at cross purposes here. >> reporter: some set i told you so but that is how it goes. coal is back. this plant behind me, the largest electric turbine in the world being converted to condos, one of hundreds of plants being shut but don't look now. coal is back. look at these numbers out of europe. the high price of natural gas, coal in europe increased 51% in terms of the amount burned for electricity last week alone. prices driven up, look at these numbers, third quarter of last year, $95 a ton for coal, preinvasion doubled to $186 a ton. last week it got as high as $462 a ton. the world needs coal, you talk about your past reliance on

natural gas from russia and oil from nasa -- on russia, 47% last year, came from russia. we talk to folks at the national mining association in the us. coal miners want to do more. this is a little ahead of themselves. >> turning off coal plants is like selling your house and moving into one that has not been built yet. this needs to be done thoughtfully and carefully over time. ashley: they estimate coal produces can do more to help europe. i believe you with this. in 2012 a record year for us coal exports, 126 million tons exported that year and 2020, 69 million tons.

the energy crunch is now worldwide, the us has more reserves than any other country in the world. dave: in the name of clean atmosphere, atmosphere is getting dirtier because of cold. now this was the natural gas average stands at $4.31 for a gallon of regular. americans are getting desperate. there's fuel being stolen from a texas gas station. >> reporter: they drove a minivan and put a trapdoor in it and drove over a manhole cover and drove the fuel in the station underground. three heads to the family-owned chevron, 1000 gallons of diesel. the highlight of this is when you drive through texas, the energy capital of the world, $4 a gallon diesel. what they did is wrong but if

you are talking about desperation it is happening everywhere. dave: which year did the church establish feast day honoring saint patrick? the answer after this. . .

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david: before the break we asked which year to the church establish a feast day honoring st. patrick. you're up, lauren.

>> 1508. david: i would say 1631. the real answer, is, i got it, 1631. march 17th believed to being the date of st. patrick's death date. it was more after religious holiday. it is called st. paddy's day. because of the original pronunciation. neil cavuto who knows of the original irish side of equation. neil: i wouldn't have go the it. thank you. run-up in stocks with the run-down in oil here. with today's drop in oil we're down more than 25% of highs in oil. we're up quite significantly from where we were before all of this started but the fact of the matter is that declines, the idea of a haven in oil and in gold, also comes off, and cryptocurrencies, but the big story here seems to be right now, with the federal reserve