♪ it's beginning to look a lot like christmas, everywhere you go ♪ ashley: it's beginning to look a

lot like christmas. beautiful. the fox christmas tree, the tones of bing crosby, what more could you want. welcome back to "coast to coast ." i'm ashley webster in today for neil cavuto. the christmas season, oh, yes it's upon us but there is always a but, along with the holiday cheer comes a holiday grinch. the usps is issuing a warning to not mail checks this holiday season. we're going to tell you why. plus, doesn't seem like the grinch is going to stop at your checkbook. warnings of power blackouts are here for the holidays. we'll speak to a coal industry representative about the impact of shuttering coal plants on the power grid. and spending is on the christmas list for democrats as the left pushes for an all-out spending spree in their remaining weeks controlling the house. we'll talk to newly-elected republican new york congressman mike lawler on his warning on the debt. so much to get to. so little time, so let's get going. i think we need to begin first with a look at the stocks firmly in the red, near session lows,

always on fears it seems these days the federal reserve may continuing tightening until it steers the economy into a recession. fox business lauren simonetti here looking at some of the day's biggest business headlines hey, lauren. lauren: hi, ashley good to see you so investors are giving back some of last weeks gains, broad based selling today. look, markets are down on the back of stronger economic data. good news is bad news, right? services industry activity unexpectedly rose in november, so did factory recorders for october. the pair provides more evidence of momentum in the economy. that's fueling concerns that the federal reserve will continue hiking rates, just as recession is likely in 2023, and their reinstruct ever policy contributes or causes that recession. so, the fed meets next week. they are expected to raise rates again. this time, by 50 basis points instead of 75. it be the sixth straight increase. take a look now, yields rising

the 10-year is at 3.589%, the two-year is rising too, moving the opposite direction shares of tesla. what a story today. so, bloomberg, ashley, is reporting that tesla is going to cut their output this month, from their shanghai factory, by more than 20% from november. bloomberg says it's because demand is down. tesla shares are down as a result. tesla's denying the report but they aren't elaborating or saying which parts are false or why, and that's not helping them out today. tesla delivered a record 100,000 ev's from shanghai last month. you have a few things happening here. the protests you're looking at them from last week, and the week before. restricted covid policies, but beijing is also offering an ev subsidy. that expires at the end of this year, so likely demand has been pulled forward and that might be a factor in this reported production cut out of china but like i said, ashley

tesla is not doing anybody any favors by just saying the report is false and giving no further details. ashley: right. i agree. lauren great stuff as always. thank you, lauren. back with us now is constellation research ceo ray w ang and pig hedge fund manager jonathan hoenig. hello, you guys, thank you for returning. jonathan let me begin with you. i'm getting a bit tired of this whole premise of good news is bad news, because of the economy data is too strong. that means the fed are going to be more likely to keep rates higher, blah blah blah, but there are analysts out there who say take your profits now because the bears come back in force. what say you? well, ashley, there's a lot of history to that. back in the 1970s, we think of it as a terrible decade for stock but you had three pretty significant bull markets of 50% or more which had huge gains and gave back all of those gains. i think the real issue here is despite the fed's efforts inflation simply has not been curtailed. it hasn't been addressed and in

fact i think the fed is behind the curve. keep in mind, ashley, rates were rising for months before the fed started hiking rates. now even the last month rates have actually gone down about 10 %. the 10-year is from 4.2% to 5.5% so surprisingly rates are likely to drop as the overall economy continues to slow. ashley: let's bring in ray. ray? you follow the tech sector. in a rising interest rate environment, these big growth stocks get especially hard here. the yield right now on the 10- year is certainly nowhere near 4%. it is down but look at the these big tech names down again. what's your take on investing in big tech right now? are there? names in there who are very good names, getting to a price where they are hard not to buy? >> there definitely are, right? we like the microsoft, apple, tesla, amazon, nvidia, and alphabet. those are great stocks in general but they were priced very high before, right?

so the stocks that i'm looking at that i think are important are the ones in cybersecurity like crowdstrike, those are very interesting ones. you're also looking at companies battered especially the ai space like palantir and c 3 with upside on the other end but in general tech stocks are down because of the interest rates and free money aspect on growth and what we're watching for is really to see how earnings continue. half the stocks in the enterprise cloud space did fairly well earnings and forecasts and the other half did not and so we're starting to see a bifurcation as well. ashley: very good. gentlemen, thank you very much. we're going to have to move on but jonathan and ray, terrific stuff as always thank you, gentlemen. now on to this. newly-uncovered e-mails reportedly show twitter burying the hunter biden laptop story, and elon musk says there are more bombshells where that came from. i can't wait. let's get more now from fox news correspondent mike emmanuel in d.c. mike?

reporter: ashley good afternoon. it sounds like this is just the beginning with likely another round of these twitter files to be released soon. elon musk said over the weekend he gave sub-stack writer bury wi complete collection so weiss is expected to do reporting as is journalist matt taibbi. he laid out round one of what he learned in a lengthy tweet thread on friday and taibbi wrote twitters posts were routinely moved, noting democrat s held more clout on that front due to political lean ings of staff to make his case, he revealed this comment saying, "more to review from the biden team." another twitter employee respond ed, "handle these" during a saturday question-and-answer session, musk was asked directly about the mainstream media largely ignoring these twitter revelations. >> they were complicit in deceiving the american public, and they lied to the public. they are trying to pretend this

is a nothing-burger. reporter: also revealed the messy internal debate at twitter over censoring the new york post hunter biden laptop story. it was eventually labeled as violating the company's hacked materials policy. taibbi noted the extraordinary steps being taken to stop the story from being shared by twitter marking it "unsafe" and utilizing a special safety tool reserved for extreme cases like child pornography. musk was asked directly if he believes twitter colluded with the democratic party and the biden team in the 2020 campaign. he called it the definition of election interference. ashley? ashley: all right, mike emmanuel in d.c., mike thank you very much. fascinating stuff and our next guest says he hopes this continues to expand to beyond just twitter. let's bring in data grade ceo and former google consultant joseph toscano. joseph, great to see you. what i find fascinating by the twitter musk story is that

everything that musk does is followed under a microscope. every word, everything he does and says is reported by the media, but then he dropped some really interesting information about how the hunter biden laptop story was buried and the conversation surrounding that and yet the mainstream media at the times, the new york times, the washington post completely ignore it. >> yeah, i do think that it's great that he's bringing this stuff to light and it's very important. i do hope this continues as well i'd love to see what's been happening at facebook, youtube, at any of the other social platforms, and i also hope in the long term, that musk is open to the transparency that he's bringing to the platform for jack dorsey to apply to himself as well. ashley: do you think, you know, the liberal media, if you just want to give that broad brush, are concerned about what elon musk could do to social media,

period? >> i definitely think they are. i think that both sides of the media is concerned about what he could potentially do, because now, he has the control of it and i think that's what we're seeing right now, right? elon can open up whatever he would like to and it's up to him , where it stops and where it ends. like i said i hope that ultimately he brings transparency to his actions just as much as he's starting to bring transparency to the historical actions of the owners of these platforms. ashley: you know, joseph, it's so hard to be a gate keeper to information. you either open the flood gates and let everybody say whatever they want and you have to pass through it yourself but then of course mixed into that is all of the horrible things that we don't want out there and to be able to moderate that is remarkably difficult. is it not? >> oh, it's incredibly difficult, and i think that's going to be the biggest challenge of musk's work here is where does that balance strike, because like i keep saying, i hope he does bring the

transparency to himself and his own organization, but i'm not certain that that's going to happen, so i'd like to see how that develops first. ashley: well you know what? he said that the company, twitter, was losing $4 million a day. he's cut the staff in half. he's coming up with new ways to monetize the platform, you know the pricing for the blue check and all of this. can he be successful in that? >> you know, if anybody can do it, i do believe elon musk can pull it out, but i do think he's nose diving right now. his privacy security staff is meet chegg is not a good sign as to what he's dog behind closed doors. he has a lot of scrutiny on him as anybody with that amount of power in the world should have, but again, he's done a lot of stuff in his life that millions of people haven't been able to do over the course of decades so you're talking about a guy who if anybody can do it, it's going to be him. ashley: but you know, we should

point out that twitter has significantly less than other platforms like facebook and instagram, significantly less users. it's really the media and celebrities use twitter, but the general public as a whole doesn't, and how much does that play into it? i mean, from the general public 's point of view they aren't really that interested in twitter, are they? >> i think that's an argument to be made but i do think that if you look into the numbers that he's, well at least he tried to expose all summer which is the number of bots, i think the way that elon wins is if he can get the numbers to the actual people, because i don't think facebook has 2 billion users, i don't think tiktok has as many users as they claim, twitter definitely is not as large but i think that's where he wins, if anything, is if he can make it more and more real people and less bots. ashley: well, it's always going to be fun to follow no matter what elon musk does. joseph toscano, thank you so much for joining us today.

>> thank you. ashley: all right we'll move on. thank you. former new york governor george pataki embarking on his fourth humanitarian aid trip to ukraine this week. his message for president biden after this. when you're through with powering through, it's time for theraflu hot liquid medicine.

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ashley: ukraine fighting back, explosions hitting two key military airfields in russia this morning, far from the ukraine front line leaving three russian servicemen dead. this , according to the russian defense ministry. joining me now, live in kyiv, ukraine, is fox news correspondent jeff paul. jeff? reporter: yeah, ashley, we had been waiting and watching for the next possible attack here in ukraine by russian forces, and after a relatively calm 12-day period, that all changed today, particularly here in the kyiv region, and as you take a look at some of these images this was a common sight throughout the entire country. crowds of people, cramming together, hunkered down after being warned of another possible massive missile attack. that's exactly what happened. in all, ukrainian authorities believe as many as 70 missiles were fired by russian forces; however, ukraine claims to have

shot down 60 of the 70 missiles fired but most coming from ships in the caspian sea but others were fired from russia's black sea fleet and we're also told russia used long range bombers, fighter jets and guided mises els. while we're still waiting on a full assessment ukrainian officials believe civilians were killed, homes were destroyed and many are without power. >> attempts to explain any logic on when they do it or what time gap irritate me. it's not trying to forecast what the psychopath will do. they are psychopaths, that's it. reporter: just prior to this latest attack by russian forces, reports started surfac ing of two different explosions at air bases deep within russia. russian media reports that one happened at a base that houses nuclear capable bombers, the same bombers that have been involved in many strikes against ukraine. three russian service members were reportedly killed and many others injured. russia claims to have these

injuries and deaths caused by debris from shooting down ukrainian-driven and controlled drones. we'll learn a lot more once the sun comes up tomorrow, ashley, but i can tell you around 40% of the kyiv region right now, without power, so it is going to be a long and cold night. ashley? ashley: very cold indeed. jeff paul in ukraine with the latest. jeff, thank you very much. our next guest, by the way, is urging the biden administration to step up usa to ukraine. former new york governor george pataki just left the war torn nation after delivering heating units to some of the hardest hit areas there and governor, thank you for joining us. describe for me the conditions from your last visit there. >> well, first of all it was cold. it's just going to get colder. you know, you see the reports of the russian targeting ukrainian infrastructure, we saw it. we couldn't get across the

border right away because the power had gone out and the power continues to go out all across ukraine. we also for the first time, we were in western ukraine, heard the air raid sirens because of russian rockets are in discriminately hitting all over the country, so it was a different trip. the spirit of the ukrainian people are still tremendous. they need help, which is why we brought in these 15 massive heat ing units to help with the winter. ashley: what else do they need, governor? >> mostly, they need heat. for the civilian population, we were doing humanitarian aid. heat, heaters and generators and we had more heaters and generate or s on the way but they also need the u.s. government to step up. you know, the congress and the administration have appropriated multiple billions in aid, humanitarian aid, to ukraine. we don't see it there, which is why we stepped into try to fill the gap, and i think it's

appropriate to take a deep look. all this money that congress is appropriated, where is it going? is it actually getting out the door? is it getting in the right hands but you know, we just saw how terrible "the situation" is there. the quicker the better. the way it's going to end is if you crane has the ability to prevent russia from continuing to make these horrific attacks on civilians and on infrastructure. ashley: do you think the european countries could also do more to help on the humanitarian side? >> absolutely. you know, you see some of the videos of the 15 giant heaters we brought in. any one government could do 10, 20, 100 times what the little pataki center is doing but we don't see that aid. in fact, i had breakfast a couple months ago with president zelenskyy's wife and asked her what they needed and he said heaters and generators so with our small charity at the pataki center we're going to continue to try to do what we can be hopefully those countries step

up and fill that gap. ashley: can they get through this winter, governor? we know what the russian tactics are, to blow up as much infrastructure as possible. not the power out and essentially use mother nature's freezing cold temperatures to really demoralize the population , but you say they are still resolute and they will get through this. you believe that? >> absolutely. they are extremely resolute. nothings changed. we were there a couple of weeks after the war started and you had that sense that we're going to do whatever it takes to win. i had that same sense this saturday. they still have that same resolution and by the way, president zelenskyy to help with this cold winter, has created what he calls resiliency centers where people can go if they don't have heat in their home or apartment. if they don't have electricity, where he will provide heat and electricity and a number of our heaters are going to be used to heat those resiliency centers, so we're proud with what our little group has been able to do

ashley: lastly, and very quickly , governor, why is this so important to you? >> well, i think it's a simple case of good versus evil. you know, this was an unprovoked invasion by putin. his allies, look at his allies getting help from north korea and iran. this is a question of does the west have the courage to stand up to naked aggression against a friend of the west of america or seeing what happened in afghanistan when the going gets tough are we just going to pull out? we can't do that. ukraine has to win this war. ashley: we'll have to leave it there. good place to leave it former new york governor george pataki. thank you so much, sir, for joining us today to bring us up to speed on what's going on on the ground in ukraine. thank you so much. >> thank you very much. ashley: let's move on. thank you. democrats are pushing for more spending as they finish a lame duck session in congress, but with our debt rising, my next guest says congress needs to reign in that spending. new york congressman-elect mike

lawler joins me next. ♪

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ashley: breaking the budget while they can. democrats pushing for more spending before republicans officially take control of the house. fox news white house correspondent peter doocy joining me now, live from the white house with more. peter? reporter: and ashley, its been interesting to watch the last couple days because there are some republicans pushing just for a short-term funding bill, just to kick things until january when they take full control, but the democrats who are still in control for another couple weeks are trying to stuff a big budget with everything they want while they can.

>> we need to fund our government operations which includes, as you mentioned, covid relief dollars as well as ukraine aid. that's an important piece, and time and time again, we've heard recently now where republicans now want to condition ukraine aid so we can't have that. we need to make sure that we're doing everything we can to stand up to the authoritarianism of russia, and make sure that ukraine has the resources that they need. reporter: the "wall street journal" is calculating huge roughly 10% increases over last year's spending for defense items and non-defense items and that is going to require raising the debt limit which will require some room deal-making. >> obviously the debt limits an issue and there's going to be times where i hope that we don't get in a position like we did with that failed experiment in october of 2013 where we shutdown the government for a long period of time, because the great philosopher, that didn't end well. reporter: and republicans can't

really do anything about this until the beginning of next month, so there are democrats trying to make their mark with the power of the purse while they can, and it looks like that's going to be the big fight the next week and a half or so. ashley? ashley: spend, spend, spend. peter, thank you so much. appreciate that. let's get reaction now from new york republican congressman- elect mike lawler. you know, mike, the biden administration has increased spending by over $4 trillion. now they want to stuff to peter doocy's point stuff even more spending items in the bag before republicans take control next year. i mean, this has got to stop, right? it's just not sustainable. >> oh, it's totally un sustainable and when you look at our national debt and the fact that it's over 30 trillion, you look at the fact that the biden administration has increased spending by over $4 trillion since taking over, there's a reason we're dealing with record inflation and that has been a

big driver of it and so from my vantage point, voters, this past november, voted to end one party rule, and they voted to stop this agenda dead in its tracks, and so i'm not in favor of a omnibus package that would fund the biden administration's priorities in perpetuity. i think we need to have a more balanced and measured approach and i think the new congress, taking office january 3, should be dealing with the budget going forward, so i think, you know, the biden administration and the current democrat-controlled congress needs to slow their roll just a bit here. ashley: well how successful do you think they will be to jam in all of these things they want to fund before the end of the year? of course the gop would like a short gap spending measure that would just get us through the

end of the year before the gop takes over. how likely is that? >> well, i think obviously, there's negotiations ongoing, but i think it is incumbent upon all members of congress to seriously look at this and the challenges that we're facing this is unsustainable for the long term. we cannot continue to print new money and borrow and incur more debt at the rate that we have been doing over the last few years and so i think everybody needs to be sober about this , and serious, and we should be looking towards a continuing resolution to get us through the end of the year, but certainly, not a omnibus package that would include, you know, billions upon billions of dollars in new spending to fund the progressive agenda. ashley: when you guys take over in the new year, i want to change to this subject about how gop leader kevin mccarthy who wants to take over the speaker

ship position. you say the party should not be held hostage i think is the word you used by just a handful of members who would like to see someone else other than mr. mccarthy take that role. how much damage could kind of a messy showdown create for the party? >> well it's a total distraction from what we were all elected to do which is number one to stop the biden agenda dead in its tracks and number two, to advance the commitment to america, and the reality here is this. the overwhelming majority of the republican conference supports kevin mccarthy and i said yesterday and i'll reiterate today. i will only be voting for kevin mccarthy for speaker, so to the handful of my soon to be colleagues trying to hold the rest of the conference hostage, this is ridiculous and it needs to stop. the conference has spoken and we have to work together to represent our constituents and serve the american people and

focus on the issue at hand which is chiefly getting our out of control spending under control and stopping the biden agenda. ashley: we'll leave it right there. republican congressman-elect mike lawler from new york. thank you so much. >> thanks for having me. ashley: thank you. now this , the federal government slamming everyday americans with audits, yet a huge government agency repeatedly flunking trillion dollar auditeds of its own. oh, the hypocrisy. fox business gerri willis is here to tell us exactly what the heck is going on, gerri. gerri: ashley, absolutely. when it comes to financial oversight by the government, well only the little guys seem to have their feet held to the fire. the irs warning its cracking down on individual tax payers this year as it attempts to sniff out even small amounts of income earned from part time work, side gig, selling goods.

now the threshold will be 600 bucks. receive that amount or more and you are required to report the income for tax purposes, filling out a 1099 form, getting paid via venmo and paypal, well that's no excuse, as the government is requiring these apps to report details to the government. now while individual taxpayers are being reminded to watch their financial p's and q's the pentagon is showing a complete lack of fiscal discipline, failing yet another audit. its fifth consecutive by the way as congress is poised to approve its $847 billion budget. how out of control is the dod? well its never passed a comprehensive audit with flying colors. the pentagon comptroller says that the agency only managed to account for 39% of its 3.5 trillion in assets. that means $2.2 trillion has been left unaccounted for. bottom line, it seems government is more interested in tracking

the defenseless, rather than defense. ashley? ashley: very good. very well-put gerri. great stuff, thank you. all right moving on now. the grinch could be stealing your checks this holiday season. say what? authorities warning criminals are iing your mailbox for their latest scams. we'll be right back with what you need to know to protect your money, next. ♪ you're a mean one, mr. grinch, you really are a heel ♪ what should the future deliver? (music) progress... (music) ...innovation... (music) ...discovery? or simply stability...

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>> and for the rest of you, jury duty, jury duty, blackmail, pink slip, eviction notice, jury duty. ashley: well, yeah, he's a mean one. scammers looking to be the grinch this holiday season. the u.s. post office warning americans to be on the lookout for crooks aiming to steal checks from mailboxes. joining me now to talk about this fox news correspondent eric shawn. eric? reporter: hi, ashley. well, you said it. the grinch could be stealing your christmas checks. criminals engaged in what's called mailbox phishing. >> where are you going? >> well there you see it.

confronting a man, well there you see it, one new yorker confronting a man who was allegedly mailbox phishing and this happened late at night, apparently slipping his belt coated with some sticky stuff through the narrow mailbox slot in an attempt, it seems to pull out the envelopes inside. the nypd has been plastering signs on some mailboxes, warning people about the trend. earlier this year, here in new york city, a ring believed responsible for stealing more than $100,000 worth of checks from mailboxes was busted by cop s. one victim is isabel vincent. two checks she once mailed were fibrinned right out of a mailbox , altered and cashed for more than $1,500. >> don't do it. don't pop a check in the box. go personally to a post office, and okay, it's a little bit of extra time, and you don't have the convenience of doing it in front of where you work which is where i used to do it but at least you know and you have, you

know, trust that your check will make it to its destination. reporter: the u.s. postal service says mail theft is a nationwide problem and in santa monica, california boxes were bashed into steal mail. new york postal inspector told us that the good advice is to go to the post office so you don't get hooked. >> every blue collection box on the street corner has a time on it when that box is swept. we're asking customers to put the mail-in that box before that collection time. if mail sits in that box overnight, it could be stolen. reporter: in chicago a couple weeks ago a mail carrier was actually robbed of his mailbox key at gunpoint. that gives thieves access to lots of mailboxes, so they don't have to go fishing for the checks, so watch out if you mail checks this holiday season. ashley, back to you. ashley: it's amazing what people do. great information, thank you

very much. as we know, holiday shopping now in full swing and retailers are still dealing with a crime spike ink across country, and we all pay the price. fox business jeff flock is here now to explain. hey, jeff. reporter: it's amazing what people do. you are absolutely right, ashley this is, you know, we talk about the big stores, the big box stores getting hit. what about the mom and pops like this. this is called the miso boutique, a men's street wear clothing store. $18,000 to install these heavy metal grates, so the thieves don't bust in because they did, three different times. in fact now, i think you got to get buzzed in. can i get in? yeah, mohammed will let me in. three different times they knocked over this place, kicked in the windows. you put up the grates and how did they get that? >> they used some kind of mechanism which was like a lift to lift up the gate, and they

came in and with the extra security that i spent a lot of money on and still broke in which was astonishing. reporter: as i said, high end street where ashley what they sell here, of course it makes you a target. the thing is, we've got pictures by the way of your security camera. you caught these guys in some ways in the act in stealing this stuff. you went to court and what did the guys get? >> one of the gentlemen that was caught at the scene red handed and he was handed a $250 fine. reporter: that was the penalty? >> that was the penalty for breaking in and causing damage upwards of $10,000 in merchandise stolen worth $40,000 reporter: that's amazing and this is driving people out of business, ashley. it's not only here in philadelphia but in portland, a store called reigns pdx, were hit 15 different times. a sign on their door says due to constant and unrelenting

criminal behavior, we have decided to close permanently. you said i'm not going away. by the way, you've been in business three years, and this is the first time you've had any kind of a crime spree. >> yeah, this is, and it seems like it's, you know, not stopping anytime soon. the first time it happened was six months ago and then its been constant break-ins or attempted break-ins and so much we can only do, you know? we could secure our place, we installed security cameras, gates, but at the same time, that's not keeping the criminals away. reporter: yeah, mohammed said that he spent a month sleeping in the store every night before the grates were installed just to try and protect his place. got a six-month old daughter at home too, so you know these are mom and pop stores. this is pop right here, and moms at home. it's not the big box store. they got maybe big pockets. but the small stores, really

heart goes out to it. ashley: yeah, and when there's no consequences, the criminals of course will keep stealing. great report, jeff, and thanks, mohammed, thank you for sharing his story with us. great stuff. all right, coming up, our next guest warning to americans this winter, thanks to all the uncertainty in the oil market. that is next. ♪ we all have a purpose in life - a “why.”

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ashley: now this. strange story, two power plants in north carolina damaged by gunfire that led to mass outages fox news correspondent jonathan serrie is here with the latest on this story. jonathan? reporter: hi there, ashley. investigators have yet to determine a motive and they say no individual or group has come forward yet to claim any responsibility but the sheriff down there in moore county, north carolina, says make no mistake. this was a targeted attack. gunfire severely damaged equipment at two electrical sub stations saturday evening knocking out power to more than

40,000 customers. the outage occurred around the time of a local drag show that faced protests from about i -lgbtq activists that fueled speculation on social media but investigators say they have not found any evidence of a connection between the drag show protests and this unprecedented attack. >> we're very united here in moore county, and we're not going to let this hold us back and i can promise you to the perpetrators out there, we will find you. reporter: because the streets are dark, local authorities imposed an overnight curfew. they opened a shelter at a sports complex where people could stay warm and local schools canceled classes today. duke energy says many residents could remain without power through thursday because the damage requires extensive repairs and large pieces of equipment need to be replaced entirely and ashley, throughout the day, i've been checking power outage.us, according to

this website, more than 35,000 customers in moore county, north carolina, remain without electricity. that's more than half of the customers in that region, ashley. ashley: hopefully they can find whose responsible. jonathan thank you very much. by the way with the uncertainty in the global energy market on the rise experts say americans are at risk of winter power blackouts. our next guest predicts that potentially long blackout periods ink across u.s. could be possible, especially if coal plants continue to be shutdown. joining me now is west virginia coal association president, chris hamilton. so chris, those are some pretty, you know, the winter months was not even officially winter yet and already getting pretty cold out there. how much of a risk is it, that we could see blackouts in some parts of the country. >> well, we think there's a fairly high risk that that's going to occur this winter. we're right in the midst of a reliability crisis as we sit here today.

there's two things converging simultaneously. we're trying to force feed or in fuse major new levels of renewable power into our grid and electric system while at the same time, we're shutting down these coal-fired manufacturing plants around the country at also an alarming rate so on one hand you're trying to expand a renewable portfolio on the grid while at the same time, you're closing base load generation facilities which are designed to keep the electricity reliable and flowing on a 24/7 basis. ashley: yeah, this is something, i mean, obviously the administration has essentially declared war on the coal industry and i was just looking last year. coal was used to generate nearly 22% of the nation's power, of the power in this country. that is a lot and it takes a lot to replace it. i mean, have they really thought

this through? >> no, they have not thought it through. in fact, they are being warned almost on a daily basis by our grid operators around the country and basically held accountable for ensuring the reliability. they have issued the department of energy, our white house, president biden, and his inner circle warning after warning that we're moving too fast, the grid cannot withstand it. it's extreme lighterage ill as we head into the winter months, and if we have a severe prolonged period like we've had over the last couple of years, its always been our coal plants that kind of pulled everything out and rescued the grid at the last moment and a lot of those plants just aren't working today and a lot of those mines that feed those plants a continuous supply of energy and fuel are not working today, or at some level of austerity, so we are headed for an energy crisis. we saw rolling brown-outs and a

few blackouts state of ohio, texas, california, this summer, you know, because of the high heat, so this winter, we're heading for a similar situation. could be a lot worse. ashley: very quickly, 30 seconds , chris. it must be very frustrating that they're shutting down the coal industry here while china continues to open new coal mines >> hey, china has announced a variety of new coal plants and some degree of construction that equals all the plants we have across this country, and we continue to shut plants down about another third of our plants have announced closures here over the last seven or eight years so we are within the reliability crisis. ashley: chris hamilton, thank you so much. we'll have to leave it there, sir, but thank you for joining us and we appreciate your input on this issue. we don't want blackouts over the winter but they could happen quick market check as we head to the break.

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ashley: i couldn't turn the markets around but if anyone can it is charles payne. take it way. charles: i can but it won't be today. thanks, ashley. good afternoon, everyone, i'm charles payne. this is "making money" and breaking right now, there is sort of a moment of truth for this bear market rally