>> no idea. we will find out. maria: yeah. i'd like to see president trump go under the hood on that one. final thoughts. >> the lights are back on in the white house. 24 hours a day, things are happening. so exciting to watch. maria: yeah. >> the one thing i'm watch watching is the phrase, common sense. common sense if government. the white house is using it, karoline leavitt's using it, the whole country is talking about. it's common sense in government -- maria: well, that's what president trump -- >> it's been lacking for is long, and i love hearing more about it. not only do i like hearing about it, i love seeing it. maria: you knoo se wants it? europe is gel ious of how effective trump can be. your thoughts. >> and yes. and i think it'll have a spillover effect to the rest of the world. doge, bottom line, is both popular, and it's effective and legitimate. maria: all right. great show, everybody. thank you so much. we'll see you again tomorrow. david asman in for stuart varney if right now, "varney & company"

takes it away. a. david: thank you very much. i'm david asman. president trump scoring two legal victories, a federal judge ruling that the trump administration can continue with holding millions in funding for if luxury hotels for migrants in new york city. remember, the money came from if usaid. additionally, a judge restored the trump administration's buyout offer to federal workers. on to the markets now, the producer price index, those are the prices that the wholesalers buy before it becomes retail, increased by a seasonally-adjusted .4% on the month. this is compared to the estimate, .43% excluding food and energy, core ppi was up in line with the forecasts. the markets have kind of digested that, maybe it's because the cpi was so much more that that a even though there was an increase in ppi, the markets digested it fairly well. they're all in the green now. the dow is up 93, s&p is up 9

and nasdaq up 66 points. on the show today, hamas reversing course, they're now saying it will release three more hostages after a president trump warned that, quote, all a hell would break out if all hostages are not freed by saturday at noon. looks like hamas if has a blinked. well, house lawmakers, meanwhile, are holding a budget mark if-up as the house freedom caucus readies its own tax plan. meanwhile, president trump is set to to meet with indian prime minister modi with new tariffs on the table. trump posting, quote, three great weeks, perhaps the best ever, but today is the big one. resip to procall tariffs. -- reciprocal tariffs. make america great again. it is thursday, february 13th. "varney & company" is just about to begin. ♪ ♪ ♪

david: a little less conversation. i think producers are trying to tell me something, don't you, lauren? lauren: maybe a little less confrontation with the court. [laughter] david: meanwhile, president trump scoring who two big legal victories. lauren, good morning. let's start with the federal buyout. lauren: 75,000 workers accepting this offer, 3% of the federal work force after a district judge in boston rules that their unions don't have legal standing to sue. it wasn't the only legal victory for the president yesterday. a district judge in rhode island allowing fema to halt payments to new york city for a program that was helderring migrants. fema -- sheltering migrant. fema clawed back $80 million in additional funding. the president calls such wasteful spending a disgrace. >> but you look at the kind of waste, fraud and abuse that this

country's going through, and we have to to straighten it out. it is interesting that when you're looking for fraud, you look at items, hundreds of items, and you'll find one or with two maybe if you're lucky. here's manager where you look at data, and they're all a fraudulent. you know by just looking at the topic. they're all a fraudulent. $9 million for somebody to go and stand in a store and see how people shop, okay? i mean, you take a look at these things, it's a can disgrace. lauren: and elon musk is taking a look at these things, and doge has until next summer if to make the government run more efficiently. david: lauren, thank you very much. charlie hurt joins me now. charlie, before we talk about the legal thing, i've got to the talk about what trump just said. you and i know washington very well. i grew up in washington d.c. we saw -- i didn't find one program, at least one big department that didn't have a lot of waste and fraud. we all knew this was the case,

right? >> yeah. and it's kind of funny, actually, the whole doge department and donald trump is doing what old reporters used to do in washington which was find all these ute ray juice -- outrageous examples of abuse and wasted money and perhaps even stealing that goes on in government. and we know it goes on, but it's like the press has been asleep for so long that they've been getting away with more and more of it. and these are just sort of -- none of this surprises us -- david: and they're juicy stories. i mean, what's really unacceptable from our perspective as journalists, they are avoiding, they've been avoiding for decades these juicy stories about corruption inside the government. >> and i think it's two to fold. one is because -- twofold. one is because they've become so jaundiced in paver of the bureaucracy -- favor of the bureaucracy, they don't want the ask tough questions, and because democrats have been in control, you know, during the eight years of the obama administration

reporters asked almost zero questions in washington. they didn't want to challenge anything under the obama regime. david: yeah. they went native, you know? you live in washington, d.c., you go out and have drinks with with people who work in government, you become friends, you want an invitation to a white house dinner and that sort of thing -- >> yeah, you don't want to bite the hand that feeds you. david exactly. >> and if you're talking about your sources, you don't want to go after them. but that's like reporting 101. of course you're going to go after your own sources if they do something right. david: -- something wrong. david: right. talking about the people in the middle of this, senate minority if leader chuck schumer did finally admit, he was shamed into admitting that government does is have some wasteful spending. let me roll that tape and get your reaction. go ahead, roll it. >> the bottom line is simple. everyone knows there's waste in government and should be cut, but doge is using a meat axe, and they're getting tipping thises that are efficient and

effective -- thing things that are efficient and effective. if you want to make cuts, do it through a debate in congress, not lawlessly by just implementing that. david: come on, man. [laughter] i can only use that old biden expression. if he knew there was waste, why didn't he and his fellow democrats do anything about it? and, frankly, republicans as well. if. >> that right there was the waving of the white flag. chuck schumer admitting that it is indefensible. democrats have no ability to defend this stuff. and so they're acknowledging this. and here's the other thing, what you just said is exactly right. you know, you can't now claim to be on the side of what's right and good after protecting what's wrong and bad with for as long as chuck schumer has been protecting it. by the way, if there is valuable spending, and maybe there is, i don't know, if there is valuable spending in there and you care about that valuable spending, then the best way to protect

that valuable spending so to not let billions and billions of dollars get thrown away on things that the american people don't want. if to you want to protect your ability to do good things in government, then don't do a bunch of bad things. but democrats have led the way in failing to do that. david: i hope i don't reveal too much, but charlie hurt, just so you know, lives outside of the beltway. he lives in a state close but far enough away so he never went native. >> that's right. but i did my time. [laughter] david: yes, you did. you were there. thank you, charlie. we'll see you on the weekend, on "fox & friends". >> good to see you, david. david: we have the latest read on inflation at the producer level in this morning. lauren, take us through it. lauren: confirmation of what we saw yesterday with consumer prices. this is wholesale price, hot in january. overall a, up .4% on the month, 3.5% on the year. both hotter than expected. if you take out food and energy,

the core prices, monthly in line, up .3%. but look at that annual number on the right, 3.6%. so, yeah, inflation is still a problem, and we're starting new year with the problem. david: lauren, thank you very much. ryan payne is with me now. ryan, the fact is that it's much worse. what donald trump has inherited is much worse than the numbers that we were looking at before. it makes a lot of people wonder whether those numbers were cooked. but this is a much worse situation than most of the people, i think, in the marketplace knew. >> i think it's underappreciated, the fact that inflation could reaccelerate here. you know, maybe shame on jerome powell for saying they were basically beating inflation, they want to get to 2%? now it's over 3%, way, way above where the target is. and the fed was cutting interest rates. but that's a whole other story altogether. i think there's three variables that you've got to keep your eye on, and this is one of the reasons i think inflation could be high or. number one, if you're starting to look at the goods economy,

we're starting to buy more goods again. you saw that yesterday in the cpi number. that's inflationary. if you add add tariffs on top of that -- david: let me just stop you. i know you have got a third. but if the tax cuts are extended and if the incentives from deregulation included into that tax equation, we will have more goods in the economy. we will have more productivity. that's always what happens when you give the incentives to the productive class. so won't that be helping inflation? and also, of course, the doge cutting that's going on. >> i think it's a great narrative, but you have to remember we have a labor shortage in this country. to bring manufacturing back with the snap of a finger is going to to take a lot of time. wage inflation is going up as well because we're down to 4% unemployment. baby boomers are retiring in droves. i know you're not yet, david, but that's a big issue. and the other unseen or unsaid thing is china could recover here. and if they do, that brings up

commodity prices, oil prices which are all very, very inflationary. so i think you have a lot of risk. and i would say most portfolios aren't positions for more inflation. david: i have always been told to focus on incentives. if there are negative incentives in the economy, you will have an economy that's not growing as fast. we're going to see so many new incentives with the deregulations and the tax cuts and everything else. the main cut being that a 15% corporate rate for companies that produce in town. so that is, i think, beginning to to make a big difference. >> i like what you're saying, but the fact that you have robotics, automation, you're going to see more artificial intelligence used in businesses that are going to make them more priskt, in fact, we're going to get the a point where i go to chatgpt, say something really smart about a inflation to david asman if on set here, it's going to sound very good. david: you're very smart without

a.i. you don't need the a.i. ryan payne, good to see you. coming up, the white house is defending the president's use with of tariffs as a negotiating tactic. listen. >> far too many nations around this world have been ripping off the united states of america for far too long, and that's why the president believes in this will be a great policy that a will benefit american workers. david: to that point, president trump says today we will see a new round of sweeping reciprocal tariffs. we're going to be asking art laffer what he thinks about that. and democrats are ramping up their crusade to get elon musk out of the government. listen. >> if you were trying to the conduct audits and figure out where the waste, fraud and pubes is, i don't know why you would -- abuses is, i don't know why you would go to some tech -- [inaudible conversations] david: of course, they're calling out -- they're calling musk nefarious for point out the waste and fraud in our government that even schumer admits is going on. senator marsha blackburn will respond to that. and president trump confirming he spoke with vladimir putin about ending the war in ukraine. coming up, we'll ask congressman pat pat fallon on how soon he

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♪ if. ♪ david: a busy day around the world for the trump administration. defence secretary -- defense secretary pete hegseth is going to be holding a press conference to discuss the future of our role in nato. lucas tomlinson joining me now from brussels. what are we likely to hear from the defense secretary? >> reporter: well, the theme over the past two days here at nato headquarters in brussels, david, is the united states, the trump administration and the defense secretary, pete hegseth, want nato to spend much more on defense and take on the threat from russia and also prepare for

what happens post-potential peace deal with ukraine with. i spoke to finnish defense minister earlier who said that they think russia, even if there is a peace deal, could be spending time over the next 2-3 years to rearm a x and nato needs to be prepared for that. right now russia's cranking out more armaments in three months, david, than the entire nato alliance makes in a year. bringing it right back here the nato, as you can see there, secretary hegseth in his first photo with his fellow nato defense ministers. of course, the 3 2-nation if alliance. he's telling them they need to be more lethal and not a diplomat ific club which if you saw the coffee bars here, you could understand what the defense secretary is talking about. in his remarks on ukraine yesterday telling them they can't join nato, don't expect to reclaim the handicaptured by russia -- land captures, he was asked does this represent a betrayal, and this is what he told a reporter when he was asked that -- >> there is no betrayal there.

there is a recognition that the whole world and the united states is invested and interested in peace, a negotiated peace. as president trump has said, stopping the killing. >> reporter: hegseth also met with nato secretary-general today who's been alongside hegseth urging nato to spend much more on defense. about two-thirds of the 3 2-nation alliance spend the required 2% of their gross domestic product if on defense. as you heard from president trump, he wants that number to be at 5%. the u.s. right now is at 3.4 percent. i mentioned i spoke to to finland's defense minister. he told me, this is his warning about russia. >> they have every five years they have attacked some country. so you cannot believe putin if he says, oh, this is lasting peace. >> reporter: so there you heard it, david. the finnish defense minister saying you can't trust putin so

is, clearly, there's beginning to have to be what officials say trust but verify with any potential peace deal with the russians as it goes to the ukraine war. david: absolutely. lucas, good to sew you, my friend. thank you very much. congressman pat fallon joining me new. i just want to ask you, congressman, about what pete hegseth said about the ukraine should have no hope of winning back all the a territory that russia has taken from it. what do you make of that? >> i think that's reality, quite frankly, dade. it's unfortunate because -- david. because putin was clearly the aggressor in 20 22. militarily, even the crepe -- can ukrainians are realizing they can't regain this territory. it's going to have to be a diplomatic solution. putin's got to remain popular in russia so he can prevent a coup. long story short, what it's probably going to look like is crimea is recognized as part of

mother russia and parts of eurozone ukraine -- eastern ukraine, but then we have peace in ukraine, and i think they won in a a lot of ways. they showed the nation they were tough as nails. david: i want to move on to to a trip that the president's taking to saudi arabia. his first foreign trip in 2017 during his first term was also to saudi arabia, and that's where he is meeting putin. why saudi arabia as the place to meet putin in. >> i think just the shore up ties with the various strategically-important countries in the world. i know china's been trying to gain their influence there, so that's not a bad choice, quite frankly. and it also shows we produce -- unfortunately, we consume more oil than we export and produce. saudi arabia is part of peck, and of course, russia's a petro state. maybe it's a little bit of that too, divide and conquer. david: final one, congressman. we know that iran is behindmost

of the mischief that's been going on in the middle east. mischief that's too light a word, i understand that. but the "wall street journal" is reporting that israel is considering strikes against their nuclear facilities. of course, they don't have the bomb yet, but with apparently they're getting close. what do you make of an israeli strike against iran? >> i think we should give them american fuel. i mean, that's our red line as well. president trump's made that a very clear, he will not tolerate a nuclear-armed iran, and neither will israel. we can't. they're the greatest sponsor in the world, the greatest state sponsor of terror in the world. you can see it with hezbollah, the houthis, a hamas. i'm very glad they lost their partner in syria, and we need to have them reeling and not leaning in and trying to become a regional superpower. david: finally, we do have time for another one, hank goodnesses. hamas -- thank goodness. hamas blinked. now they're apparently willing

to talk about giving more hostages and perhaps even do so. what do you make of that? this is another win for trump foreign policy, is it not? >> david, are you tired of winning? because i'm not. this has been incredible. this is the best first month of any presidency, any term, any administration, i think arguably in history. he's done so much is. it seems as if president trump's not got more accomplished in four or five weeks than joe biden did in four years. a. david: gotta leave it at that. pat fallon, thank you so much. absolutely, god bless you. house democrats have are reintroduced legislation on reparations. lauren, who's pushing this? if. lauren: some members of the squad including presley, booker and and lee are. hay describe the white house's anti-dei push as continuing the systemic oppression of black people, and they're fighting to stop it. >> our government has a moral and legal obligation to the right those wrongs, and reparations are a necessary step

towards achieving justice. >> white supremacy is rampant in this country. just look at the current administration administration and our own legislative body. now more than ever we must if acknowledge and repair those harms. lauren: but even in california two reparations bills didn't even get across the finish line. they didn't even make it to governor newsom if's desk. david: they're asking for $20 million just to study the issue -- lauren: lauren and they've studied for years. david: guess who's going to get the money? if i'm sure friends of a lot of the congress people that are for that. check, the futures, we got the ppi report, the producer price index, the wholesale prices before they reach the consumer. they were up more than expected, but for some reason the dow is all in the green. the tow is up 113, s&p up 11, nasdaq up 67, maybe they thought it was going to be worse than it was. the opening bell is next. ♪ ♪ -- said you'd never if smile

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♪ chocolate fundraiser. with the chase mobile app, things move a little more smoothly. ♪ deposit checks easily and send money quickly. ♪ that's convenience from chase. david: checking the futures, the ppe, producer price index, came in worse than expected in terms of inflation being higher than

expected, but the market has absorbed it, they've digested it well, the futures saying that the dow will be up about 115 when we open, nasdaq will be up about 62. we'll see if that happens. d.r. barton joins me now. it looks like going to be choppy at least until things settle. of course, with donald trump you don't know if they'll ever settle exactly -- [laughter] but there are a lot of things the market is still parsing out, whether we're going to get tax cuts extensions, exactly how tariffs are coming down. have i got it right in. >> i think that's a really good observation, david, in that everything that comes out of the administration is potentially market moving. and we've seen it over and over again. i think you're right about the ppi number as well. it was a little hotter, cpi a little hotter yesterday. the market has digested it, it popped down early yesterday and recovered. i think we're going of to have one of those really jagged type,

volatile, up and down moves with a little bit of a bias to the upside for the first half of the year. but i think rate increases are off the table for right now for the short term. david: and i notice that your stock picks are all commodity-based. i mean, you have john deere, farming company, you know in they put out tractors and are focused on agriculture. and then you have freeport-mcmoran which is, of course, a gold stock, right? >> well, yes. deere, absolutely love deere. really a high flier right now, and investing in things that are going to make food for us is a long-term defensive play. freeport a copper minor also a, david. buy it on the dip -- miner. finish. david: d.r., good stuff. appreciate it. premarket activity showing a

100-point gain on the dow, just about 120 points right now. most of the dow 30 are in the green. some are in the red. we'll get into who's who. let's switch over to the s&p. we have plus on the s&p, it's the up about 13 if points right now. not a big gain. fractional gain but, still, it is up over 6,000 points. and the nasdaq, tech-heavy stocks are doing pretty well. highest percentage wise of what we've got in the markets right now. it's up 51 points to 19,701. let's look at the big tech stocks if we can, some specifics. we've got three in the red, amazon, microsoft, meta are in the red, but apple and alphabet -- well, alphabet just went into the red as well. apple is still holding on to a gain. we've got taylor riggs with us this morning. good morning, taylor. >> good morning. lauren: david: let's start with robinhood. >> revenue more than double thanks to crypto trading around the election.

crypto revenue jumped 700% -- david: unbelievable. >> phenomenal fourth quarter. david: and cisco also reported earnings. >> this is an a.i. story that continues to power this stock higher. a.i.-fueled spending on networking is really helping them. they also raised their 2025 guidance up to $56 billion. they said as a.i. becomes more pervasive, they are well positioned to help customers if scale and network. that. david: and we just heard about john deere. they had some earnings reports before the bell. what do you think? >> they did. better than expected but the stock is down 5 president because they're still -- 5% because they're saying some of the big ag sales might still decline by about 30% in fiscal year 2025. large ag equipment makes up about 45% of their sales. there is some tariff exposure as well that they're trying to weed through. that taye a david and i usually use avis, but hertz has news to report. [laughter] >> probably good that you don't

use hertz, the shares are down13%. david: ooh! what happened? >> they purchased all those evs, and they're till trying to sell those off a because, news flash, no one really wants an ev all the a time, especially when you're in a rental car company from hertz. so they're trying to get rid of those evs and get back to basics. the turn around, they hope, to be completed by the end of the year. ca. david: they've got a tough row to hoe. wendy's. they're down a little. >> 32%. this is the return of the -- 2%. this is the return of the value meal. it's the same story. they actually had higher revenue, customer traffic and spending. same-store sales up 4.3%, well ahead of expectations. i'll dig into it more. david: i've never had a pair, but crocs. >> ditto. david: you've never had a pair in. >> no. i think with gen-z, it's all the a rage. the young kids, today love it. david: look at in this. 19%. >> people love the tock to. up 19%.

revenue beat estimates thanks to demand in north america and china that where we thought there was a weak chinese consumer, and their hey dude brand is in the middle of a turn-around a. they had stabilizing -- david: it's call called jude? >> yes. hey dude. david: i'm showing my age here. [laughter] unilever. >> a little weaker forecast, subdued start to the year. they also own an ice cream brand that includes ben and jerry's. dade dvd oh, i didn't know that. >> the upa date on the spinoff from that, they're going to delist it and doing a new listing, i should say, in amsterdam, london and new york. but they did see, overall, they do see a challenging consumer environment ahead. david: all right. ge health care. >> all right, ge health care. it's the medical imaging company, right in shares are up 6. they had better results, better guidance. revenue goes up to $5.3 billion. they have good momentum and back

orders. david: yeah. it's such extraordinary technology they have there. and molson coors -- [laughter] i love molson coors. >> well, you're not the only one because beer demand is back. a lot of people had gone to beer because wine and spirits were more expensive, and in this challenging inflationary consumer environment, people are going back to beer. they said that coors light and miller lite is seeing a good turn around and they're seeing sales -- david: and mg america resorts sorts. >> yeah, are you a gambler? david: new york i'm not. but they have some great reports. >> up 15%. international revenue was really strong. listen to all these price targets. citigroup up to 50 from 48. stifel up to 50 from 47. wells fargo goes up to 46 from 44. david: that's incredible. so if it hits those marks and you're buying in now, you're going to be making money. >> there's some good upside. david: all right. more earnings reports, ap love

aren? >> this stock was up 700% last year. david: unbelievable, but look at this, a 35% pop. >> up 35% today. this is, i mean, you tell me, a marketing software company. the that sounds pretty boring except we're getting really good updates on their gaming revenue business. they're planning to sell off their mobile gaming business, so analysts like jeffreys are saying we were kind of skeptical, but now that we have a plan, advertisers might be more willing to advertise in the mobile gaming sector to. david: and going the other way, reddit. what happened there? is. >> so this is interesting. they're seeing slower than expected user growth. they highlighted that that google has changed the the algorithm that when you type in search results, people aren't being directed to to reddit as often, and it is impacting them. ten -- i'm sorry, 101.7 million daily active users, that was well below what analysts wanted of 10 so 3.8 million -- 103.8

million. they're going to try to work around that. a. david: and i have to apologize to you. i asked them to turn up the heat, and then i see you're going like this, you're freezing. i'm so sorry, that's my fault. >> you're allowed. it's okay. david: we're going to see you on "the big money show" at 12 eastern time. it's now two hours long. >> stay cool. david: i'm so sorry. [laughter] >> you're fine. david: the dow is up, but it's lost a bit of its gains. it's up about 20 points. let's take a look at the dow winners, if we can. there they are, we've got cisco systems, nvidia, coca-cola, apple and home depot. again, it's lost a lot of the action that that we saw earlier as soon as it opened. s&p winners, mgm resorts, we just talked about them. tyler technologies. intel is up quite a bit. and who else do we have? caesar's entertainment. the nasdaq winners, intel again, ge health care, we talked about a.

cisco, tesla and micron tech are up and winning. coming up, the white house is pushing back at democrats saying if you want to see a real crisis, just look at the courts. >> real constitutional crisis is taking place within our judicial branch where district court judges in liberal districts across the country are abusing their power to unilaterally block president trump's basic executive authority. david: we'll have marc thiessen's take on that. and the number of known gotaways has plummeted since donald trump took office. is the main focus of the dhs now on carrying out deportations? we're going to be asking former acting dhs secretary chad wolf. and earlier this month interior secretary doug burgum signed a flurry of orders to, quote, unleash american energy. when do we start to see the effect of those orders on the price at the pump in i'm going to be asking secretary burgum. he's next.

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david: markets reacting to the ppi, producer price index, in a fairly good way. nothing spectacular compared to yesterday's freakout about the consumer price index. the dow is up by about 54, the s&p up about 3. and the nasdaq up about a 40 points. let's look at the 10-year yield because that yesterday popped big to the upside. today it's going down, it's down 6.7 basis points. had normally be a big drop, but not when you take into account how much it went up yesterday. it's now, the yield is 4.55. and crude oil is down a little bit. looks like it might be going to below $70 a barrel. it's now $70.70 a barrel.

and joining me now is a man who's very concentrated on oil, its prices and the amount of it that we're able to get out of the ground. interior secretary doug burgum. mr. secretary, thanks so much for being here, appreciate it. last week you signed your first order to, quote, unleash american energy. what are the specifics on that that order? >> well, david, step one for us following president trump's energy dominance agenda so to turn around the disastrous policies of the biden administration the last four years. the biden administration's had a whole-of-government, full-frontal attack on anything related to almost all forms of american energy. i mean, take example alaska a, an amazing resource. the biden administration if had 68 executive orders exclusively attacking alaska's ability to produce energy. it's easy to say that the biden administration actually sanction

ised alaska more than they sanctioned iran. and, of course, when they were worried about a elections, they didn't enforce the sanctions on iran. iran had their production up. places like north dakota, our production was down. they allowed venezuela that to sell back into the united states, took the sanctions off them. they drained the strategic petroleum reserve. they were managing supply by letting more foreign oil on to the market. with president trump we're going to to reverse that. president trump, we're going to put sanctions back on iran. he's going to have them back financially on their knees like before. he's going to end wars, win a nobel peace prize. but we've got to get u.s. production up, and part of that is we have got to cut the red tape that the biden administration strapped the american energy industry with. david: they were also a big, the biden administration, on cutting offshore drilling. we have seen reports. even a company like mckenzie and company did a report suggesting that, responsibly done -- and the emphasis on the word responsibly, so there

wouldn't be any oil spills. of course, accidents will happen, but very responsible drilling in the gulf of mexico could be increased an there -- an extra 2 million barrels a day. are you going to be working on that? >> absolutely. it's just unbelievable, in the last weeks of the biden administration he signed an executive order, biden did, which took 625 million acres of offshore potential off of the market through an executive order. david: yeah. >> president trump has unbanned a the ban. we're going the go back. that was biden wiping out trillions of dollars of revenue from the next generations of america. unbelievable, what he was doing, to restrict access to a balance sheet. the balance sheet belongs to the american public. david: and i've got to apologize. i said gulf of mexico, didn't i? whoops! gulf of america. but can we get that extra 2 million barrels a day from the gulf that mckenzie said we could many. >> well, we can, and we can get more from alaska, more from

north dakota, more from pennsylvania. not only was he restricting the drilling, he was also restricting pipelines. we need more transportation -- david: yes. >> -- for our lng in america to the parts of america including the northeast which are still burning dirty heating oil when they could be burning clean pennsylvania natural gas. and exports, he canceled the exports. we've unbanned that, and we're beginning to be moving lng like we had the prime minister of japan here last week meeting with president trump. they want the buy more lng. we can sell emergency to our friends and and allies, and that's going to helps us -- david: and get them off of the russian habit which does nobody any good. >> yes. david: next one. this isal under your purview, mr. secretary. the president of arizona tate nat sent you a letter asking you to reverse what is called a land grab during the biden era rah of nearly a million acres in which

prevents them from exploring to drill for critical minerals, nuclear energy resources, etc. are you going to open that area for exploration? >> well, we've got executive orders and secretarial orders to review all of these land grabs that were done by the biden administration. and we've got to go back and take a look at those decisions that were made. and we've got to make sure we're consulting with the locals in these situations because you take that public land off the balance sheet, so the speak, you're depriving revenues for the state, for the tribes, for the local communities, and you're not helping the environment. because then we're pushing production overseas the countries the that don't have an epa, don't do reclamation, use child labor. if we want -- if somebody is concerned about the environment, they should want every electron, every ounce produced in the united states. we do it with more respect for the environment than anywhere in the world. a. david: mr. secretary, my

producers are going to kill me. it's got to be a quick answer. the president said on the campaign trail he would cut the price of gas -- cut the price of oil in half. that would bring it to around $40 a barrel. would companies still be producing at that price in. >> well, we can help get the price down. we think we can cut $6-8 off the price just through deregulation so we could lower the price, expect companies will still be making as much money. and then we've not to to open up new markets around the world. like i said, we're going to be selling energy around the world as opposed to our adversaries. we have got some work to do to get there, but certainly the goal here is to make sure that that -- if we lower the price of energy, we lower the price of everything. david: secretary burgum, a pleasure if to have you, sir. thank you very much. best of luck to you. coming up, the newly-minted u.s. attorney general, pam bondi, says she's ready to crack down on the fraud in our government. >> you know, people work their whole lives and pay taxes, yet they find out that they've been giving $2 million to guatemala

for sex changes? it's outrageous. david: the administration has shown it's the serious about reeling in government waste, and we're all over it. but first, the new york stock exchange is heading to texas. the nyse wants to open a branch in the lone star state. lauren has the full report coming next. ♪ you will always find my heart way down south. ♪ clothes on a clothe line hang aing in the sunshine. ♪ after last month's massive solar flare

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david: now this, the new york stock exchange is coming to the lone tar state, texas. lauren, what can you tell us about this? lauren: so the iconic new york stock exchange will soon officially relocate its 143-year-old chicago branch. its new site for digital trading will be in dallas. >> texas is emerging as the financial capital of the united states of america. and it's -- what we've seen try of after industry where texas is the jobs juggernaut of america. and right now, as we speak, we have more financial jobs in the state of texas than new york. lauren: he's not wrong. texas has over 1 million people employed in financial services and investment banking, texas.

compare that to 963,000 in new york which is home to wall street. and now the stock exchanges are following. another exchange, the texas stock exchange, will also open in dallas with plans to start trading next year. in fact, since 2019 many large corporations from industrials like caterpillar to the tech giants, oracle, tesla have relocated to texas. they're ditching the high-tax states like illinois, california and new york. so texas is becoming more -- already is -- this corporate mecca. it's home to energy giants, it's home to airlines. governor abbott says, we're open for business. >> texas is the modern embodiment of the american dream where everyone has the opportunity to succeed. and the texas stock the exchange will ensure more businesses have that opportunity. lauren: and that's why the nyse

is going there, the compete. nasdaq will open an office there. and when it comes to gdp, if texas were a country, it would be the eighth largest economy in the world. david: david it's all about a taxes. all about taxes and regulation. lauren: friendly regulation and energy. david: yep. lauren, thank you very much. still ahead, we're going to be talking to senator marsha blackburn about the doj's plan to track down and prosecute people who are leaking information that puts i.c.e. agents at risk. art laffer is going to be telling us what he thinks of republicans' plans to cut taxes and spending. indiana's governor, mike braun, will explain how he's using his own version of doge, a statewide version, to cut wasteful spend spending in his state. plus, we're going to be asking congressman jim jordan if his party can come together to get trump's agenda passed in one big, beautiful bill. the next big, beautiful hour of "varney & company" is next. ♪ ♪ i can feel it coming in the

air tonight, oh, lord. ♪ and and i've -- can

..

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