they so what china is doing and opec is doing and what every country is doing. we don't have a country that we do business with, where we are deal doing well. everybody takes advantage of the patsy. we are viewed as the patsy, the foolish, stupid, use any word you want to use, a real weak, ineffective group of people and group of leaders. so i think whether they have low or high unemployment, they look at the country and they see what is happening and i think that the republican candidate in the name of mitt romney is going to win. >> greta: all right. suppose you couldn't run your business enterprise at all. suppose that governor mitt romney is elected president. you could pick any job in the administration. what do you think donald trump would be best suited for and enjoy most? >> first of all, i am not looking for a job. >> greta: i know you are not. what would be intriguing to you? >> i happening i would be a great job at secretary of commerce because i wouldn't let clina rip us off and india and all of these countries that are taking advantage and very inte

they tell you, opec tells you they have to have, oh, different countries and in opec have a different price to meet their budgets. and but, it's about $100 a barrel. so they tell you that they have to have that to meet their budgets. they're going to get it. all they have to do, if they want the price up is cut back supply. and the price will go right up. so it's, count on brent north sea crude, which is opec priced, being above $100 a barrel. >> how does that influence the election in the united states? how does it influence for president obama or for mitt romney? >> you know i don't know how, you know, i don't know how it would. the, if people understand that the price of global price of oil is, is set by opec, they understand that, that the president, obama, has nothing to do wit that. but, know this. that the united states has a cheapest energy in the world. brent north sea crude is 115. we're, west texas intermediate which is our national crude price, is under 100. so it is 15% cheaper than the global price but our natural gas is 75% cheaper. you look at today's natural gas price

to react. >> do you think opec will react? because they've sort of been arguing against others in opec about lower prices and therefore they've been willing to keep production higher. >> yeah, certainly they want to guard against high oil prices that could knock the world economy into recession, and therefore into low oil demand. and yet, saudi arabia particularly wants to protect an oil price that can generate enough revenues for its own needs, which we think are around $100 or so. so, we think saudi definitely can protect the price on the down side. we are more sort of optimistic, supportive of prices at bnp-parib bnp-paribas, because we feel over the next six months, demands will be growing more than supply, so there will be greater reliance over the next six months or so. >> garreth, we're looking at a chart here of the three-month performance of nymex and brent crude, nymex down 5%, crude slightly -- i'm sorry, brent slightly firmer. where do you expect that spread, that differential to go? and is your view changed at all

we don't have to use opec oil, and we don't have to have people in the mideast.ow how many barrels -- i'm going to answer the question. but do you know how many barrels a day come through the straits of hormuz? 17 million. you know how much of that comes to us? make a wild guess. >> 17 million? >> 2.2 million. and we're sitting over here with all of our navy equipment, people, and we get 2.2 million. we could wipe that out in nothing flat. we don't even have to take anything out. >> so what is it? they don't believe you? they think you're crazy? >> probably both of those. both of those. >> and what's the third reason? they're addicted to oil! >> what? >> are they addicted to oil here? well, on capitol hill. why have you not been able to make more progress when everybody agrees with you? >> people agree with me, and i can tell you the trucks are going to natural gas. they're saving $2 a gallon. but you don't want to do, here's the weakness of the whole deal, supply is very, very good. united states. the industry's done a fabulous job. we have more natural gas than

. >> [speaking foreign language] >> the war in afghanistan has led to a surge in opec exports. as a result, heroin in karachi is cheaper than food. it has led to joblessness. >> [speaking foriegn language] >> 48 hours after calling for help, josephine mrs. the center for the first time. -- visits the center for the first time. >> [speaking foreign language] >> [speaking foreign language] >> staff at the center told me they often see patients pleading with family members. for them, it is an expected part of the withdrawal process. [both speaking foriegn language] >> thank you. >> thank you. >> [speaking foreign language] >> a week after leaving rehab, hussain says he has left his addiction behind him. but for his brother, it is not the same. hussain is convinced he is back on heroin. >> [speaking foreign language] >> treatment does not work for everyone. but the center is a lifeline in a city that sometimes it feels like it is floating on a sea of heroin. >> reporting from karachi. this week, the city of aleppo has been pounded from the ground and the air as the city tries to di

opec can fiddle with the supply and monkey around with oil and gas prices. they are afraid of an arab spring and new revolutions breaking out over the country and that area of the world and they have to do a lot of social government spending. they want to keep depas high. what is wrong with developing what we have here in the united states? >> there is nothing wrong with it. you have to start with a point of view that it is okay to do that. and you have an exepa official saying we should crucify the oil and gas companies and on his resignation letter, president obama has been supportive of me and my work. when you have that attitude oozing out of the, it is no wonder speculators jump in the moment oil becomes reasonably priced and drive it back up. >> john what do you think? >> both sides are hopeless. we don't have a supply problem at all . we have a dollar problem and that's where rick unger is incorrect. president's can fix this. presidents that pursue a strong dollar have cheap oil. it is not supply. go back to the dollar. >> and weigh in here, mike >> i

it's not just about getting off oil or off opec.ow do we rebuild the economy, build jobs around transport because it's such a great, great driver of the economy. i think that's what people have come to the conclusion. we have lots of opportunity. natural gas has low barriers. the only bare rers are infrastructure, an easy investment for people to get behind and we are seeing that. china got out in front. they like to get out in front. once things are demonstrated and proven we are seeing three times the investment rate in china. they just got going 18 months ago. we're catching up fast. we'll see things double here. things are going well. >> my friend rick santelli did a piece about converting a truck to natural gas. turns out there are only two natural gas stations in chicago. i know you said the infrastructure is happening. chicago, real big city. they have two baseball teams and one natural gas station for each one of them. >> that's the bull and the bear story we have heard from analysts that you mentioned. we have people that s

i want to see natural gas as a major surface fuel, vehicles in this country in order to smash opec. the skies cleaner. and make it so we are energy secure. does the governor share that vision? >> he does. you know, he wants to see the market place do that. natural gas very cheap. we're seeing a lot of conversions occur. and the markets certainly getting that and they're making that happen. and he believes that should happen and we're seeing a market place work like it should work. >> all right. do you think that we are within the next five years looking at what your company has done, what eog has done, do you think it is possible our economy not our country but continent will not have to be an importer of opec oil five years from now? >> well, we're getting certainly could get close to that. i've said in ten years. north america could be energy independent. of course we've got most of the oil right now from our neighbor to the north and certainly some of from the south. that'll grow in the north, diminish in the south we think. but five years i don't think we'll be using a whole lot

chavez already declaring a three day long mourning period this is the worst accident to ever hit the opec nations industry. neil armstrong the man who once made one giant leap for mankind stepping for the first time in human history on the moon has passed away at the age of eighty two his condition deteriorated after recent heart surgery to clear blocked arteries an estimated half a billion people watched armstrong on t.v. as he stepped onto the lunar surface on july the twentieth one thousand nine hundred sixty nine. now on the threshold of the first anniversary of the fall of tripoli libya it seems to be marking the event with violence and chaos in the latest in a series of recent attacks on sufi shrines islamists are blamed for blowing up and bulldozing a fifteenth century sanctuary meanwhile ethnic clashes not. far from the capital left at least twelve people killed and dozens injured after the warring sides reportedly used anti aircraft guns against each other as follows last week's violence when an egyptian different parts car was blown off in the city of benghazi and after deadly t

already declared a three day long mourning period this is by far the worst accident to have ever hit the opec nations industry. neil armstrong the man who once made one giant leap for mankind stepping for the first time in human history on the moon has passed away at the age of eighty two as condition deteriorated after recent heart surgery to clear blocked arteries an estimated half a billion people lost on strong t.v. he stepped onto the lunar surface on july twentieth one thousand nine hundred sixty nine. all right back in just a moment with another recap of the week's top stories to stay with us here on out saying.

opec, the organization of petroleum exporting countries, has had resulting impact on prices. they replaced the railroad commission of texas as the arbiter of world oil prices. the track record of the group combined with international tensions is a major factor in the world economy. although opec behavior has supported the unusually high prices as the interest in oil futures as an asset class. this is truly becoming a factor in keeping the markets there. virtually all these petroleum products are convened by sea along with other commerce in the region. these maritime lifelines of the economic life blood on the world and are special-interest of the u.s. and its executive entity for addressing this interest, the u.s. navy. of particular concern are the three major maritime passages, the potential choke points through which all energy exports in the region. the strait of hormuz in the suez canal. more than half of the oil and gas coming out of the gulf continue around india and that to northeast asia. these are of very high interest to everyone in the world. as you are aware, tho

of course, this country tends to act in its interest, unanimity will not act in opec's behavior. the track record of the group in line with various wars and international tensions have resulted in higher prices and is a major factor in the world economy. with high impact and high interest world leaders. opec has blamed a new factor in the past decade, which has supported the unusually were on a historic basis, high prices would be interesting will futures is an asset class and world financial market. i believe this is truly becoming a factor in keeping the markets up. u.s. policymakers have achieved only spotty success in moderating oil price fluctuations. supply and demand for oil and gas will continue to be at or near the top of economic concerns regardless of declining u.s. imports from the region because of worldwide energy needs. virtually all of these are conveyed by sea, along with other commerce in the region. these commercial lifelines are the economic lifelines of the world and special interest of the u.s. and its identity for addressing this interest, the u.s. navy. of

are they manipulating the price, op opec?or their country first, the nation second and the world third. i don't see anything being done that will offset the strength of this cartel so we're at their mercy. >> when you look at where oil prices have gone in the past couple weeks, is that a function of what opec is saying, is that a function of an expectation of qe3? it's a function of what? >> they have some of the best competentists in the world in the opec cartel and know what's going on around the world, they talk to everybody all the time. the one thing that policymakers always miss, they miss the effect of natural oil decline on the ongoing marketplace. we've seen prices recover a bit, not that the world economy is recovering all that much, but we've seen it recover a bit because demand is still there. we're going to use 84 million, 85 million barrels a day, even in this environment, and everybody worries about the upside, and there's no plans anywhere to deal with the upside from a public policy standpoint. companies of c

. >> there is neither sneezing at opec or lighting fires out at refineries. you know?e day after the fire, a gallon of gas went for $3.85. today, a more than 30 cent rise per grade. it's excruciating at the pump. but what about those behind the wheel for a live something. >> this is mosha saying has to charge passengers more with the rising cost of gas. >> and that depresses business. they think wait a minute. why are you raising prices on me? >> what can you do? >> pray to god we get prices down. >> some are praying and others are escaping. early. beating this labor day weekend rush, no matter the coast. >> my sister is paying and she's working. >> triple a estimates three million people will be driving. >> and thank you,. >> we have learned a convicted serial killer was temporarily released to help search for his victim's remains. wesley shermantin is on death row for speed freak killings that took place in 80s and 90s. he was giving map taz led to the repains. new searches could open as many as 72 mittsing person cases. >> five people under custody tonight after an

the state is producing more oil than ecuador producing so much oil it qualifies as an opec member. give the states more power to access the resources they have. the more access they have the more it gets to market and goes hand in hand. high prices, it worked for natural gas. let it work for oil. sandra: you don't have to teach me that. jobs are crucial aspect of this. romney says the key skilled pipeline will create three million jobs but approval of the keystone pipeline is one aspect of the new energy plan. more drilling and fewer federal regulations. i am curious if there was anything in the plan you didn't like. >> i would like to have seen more renewables. my biggest knock on the current administration is they play a zero game where regardless of price dictating how supplies get into the market. all options should be on the table at this point. i did not see anything detailed in the romney plan. i would like to see more investment, more research into the feasibility of renewable deciding which renewables work but at the same time not to the detriment of other resources of the

mostly they blame the it on companies and opec companies but they say gas prices as a symptom of a badne that is not doing well and one that is potentially getting worse. anything that seeds their disenchantment with the status quo is pa bad for president obama. >> neil: the irony of the argument if it improves the prices could go higher? >> perhaps. but if unemployment were to drop suddenly, gas prices wouldn't be that big of a deal. but unemployment stays quite high and keeps feeding the notion that economy is in trouble, gas prices are doing the same thing. >> neil: everyone mentions the possibility of a slow down with inflation, something we wo we used to call stagflation. we are nowhere they're that now. do you worry about that or is it coming up in fears among those you poll? >> voters currently more concerned about unemployment. they are concerned about the economy getting better. they are not worried about inflation. >> neil: so bottom line they look at an economy that ain't delivering the goods, right? >> right. they see an economy they need to get better. they look around the

hey, wait a minute, we are still importing dirty opec crude. why would we take clean natural gas and send it out of the country? that tells you there is no plan. nobody has sat down, understood. they ought to call a summit and bring together -- >> there you go. there's a plan. >> yes. >> why don't you do that? >> you could do that. >> i already know what to do. hell, i don't know a summit. i know what to do. about. >> you you're saying you they need a summit, and you could contribute to it. >> they don't pay any attention to me. >> great to see you. >> thanks. >> t. boone pickens. >> good to see you. >>> some of the heaviest fighting in syria broke out this morning in the capital of damascu damascus. government officials fired on rebel positions on the same day the last u.n. monitors left the country. >> reporter: activists reported heavy fighting once again on the outskirts of damascus, the western suburbs. that i say that helicopter gunships, tanks, and mortars are being used. they say that government forces are advancing into the neighborhoo

it's great for our national security not to have to depend on opec or venezuela for our oil. >> it'so great for the big five oil companies. romney's energy plans would give the oil giants a $2.3 billion tax cut on top of loopholes that they would enjoy and take authority for drilling and mining on federal lands away from the federal government and give it to the states. not surprisingly another potential fossil fuel give away. and harold hamm and jack gerard, president of of the american petroleum institute jim talent and david williams. i'm joins by joe williams. thank you for joining me. >> thank you. he said let's put oil and gas in charge. >> that's it. he raised $10 million from big oil and then he puts out an energy plan that mention oil 154 times. and never mentions global warming even once. >> eliot: he is affirmatively acting in ways that would make it worse. am i right? there is virtual lie nothing in there to shift this away from fossil successfully and renewables. >> no, this is more drilling, more coal, and roll back regulations. he wants to roll back mercury and regulat

of course, this country tends to t in its interest unanimity will not act in opec's behavior. the track record of the group in line with various wars and international tensions have resulted in higher prices and is a major factor in the world economy. with high impact and high interest world leaders. opec has blamed a new factor in the past decade, which h supported the unusually were on a historic basis, high prices would be interesting will futures is an asset class and world financial market. i believe this is truly becoming a factor in keeping the markets up. u.s. policymakers have achieved on spotty success in moderating oil price fluctuations. supply and demand for oil and gas will continue to be at or near the top of economic concerns regardless of declining u.s. imports from the region because of worldwide energy needs. virtually all of these are conveyed by sea, along with other commerce in the region. these commercial lifelines are the economic lifelines of the world and special interest of the u.s. and its identity for addressing this interest, the u.s. navy. of par

of course, this country tends to act in its interest, unanimity will not act in opec's behavior. the track record of the group in line with various wars and international tensions have resulted in higher prices and is a major factor in the world economy. with high impact and high interest world leaders. opec has blamed a new factor in the past decade, which has supported the unusually were on a historic basis, high prices would be interesting will futures is an asset class and world financial market. i believe this is truly becoming a factor in keeping the markets up. u.s. policymakers have achieved only spotty success in moderating oil price fluctuations. supply and demand for oil and gas will continue to be at or near the top of economic concerns regardless of declining u.s. imports from the region because of worldwide energy needs. virtually all of these are conveyed by sea, along with other commerce in the region. these commercial lifelines are the economic lifelines of the world and special interest of the u.s. and its identity for addressing this interest, the u.s. navy. of

million new jobs, $500 billion to the economy, it is great for our national security depending on opec or venezuela for our oil. david: joining us now for fox business exclusive, somebody who supports this plan, brent harvey. great to see you, thank you for coming in. let's talk about the biggest of all these, energy independence by 2020. he says for the americans, i assume canada and mexico helping the united states, so all three countries operating as a unit, is that possible, energy independence for the americas by 2020? >> it depends on if we have the political will. we have plenty of energy, altogether. david: that political risk would exist, or with the senate to sign either process? >> energy is red, white, and blue. they should be about what is good for the nation. we have the energy, technology and the best environmental rul rules. david: really crack down on carbon energy. i oriented more towards killing off the energy independent? >> they're finding reasons not to do things rather than use our own resources and doing it right. it is a negative attitude. we should figure out

there is an issue of the rising of iraq within a opec context.ere is a big battle between iraq and saudi arabia under which at what point iraq should have quotas. i think the test of the answer to your question will depend on circumstances in part and critically if you find yourself in a position where the markets are oversupplied where there is the beginnings of a need to start to limit output, and at that. what iraq is going to be allowed itself to be subject to and how that impact relations with iran and the wide opec status. >> would anyone else like to commt? >> i will just say, if you read the papers the last two months, a rock's production has surpassed iran for the first time in decades. i think it is interesting, we see these statistics. i want to highlight the importance of this u.s. iraqi partnership. one reason exports have increased dramatically are the openings in the gulf. they have the capacity to export 900,000 barrels a day. because iraq has to think anymore system -- systemically, there are only able to use one spm at a time. t

we have to stop other countries from destroying us, whether it's china, opec nations, or any other --tually any other country we deal with. you look at the country of colombia. relatively small trading partner. they use the word partner. that's not a partner. but $4 billion deficit with colombia. that's a small one. china's going to be probably close to $400 billion in deficits. we can't do it. we can't afford it. then we go, how do we pay for the deficits? we borrow money from china. mitt romney gets it. he's a great businessman. he'll change things. he's also got heart. he's a wonderful person. his wife is a fantastic person. i think it's going to be an amazing combination. >> you're talking about a shifting of the strategy, the romney campaign. you mentioned he needs to tell it like it is. is he being too soft? does he need to have more donald trump approach to things? >> he's a good person, a tough person when he has to be. i think he'll show that toughness. i think he has to show the toughness. he's a very smart guy. i just say that you have to say it like it is. the old expressi

of course, this country tends to act in its interest, unanimity will not act in opec's behavior. the track record of the group in line with various wars and international tensions have resultedn higher prices and is a major factor in the world economy. with high impact and high interest world leaders. opec has blamed a new factor in the past decade, which has supported the unusually were on a historic basis, high prices would be interesting will futures is an asset class and world financial market. i believe this is truly becong a factor in eping the markets up. u.s. policymakers have achieved only spotty success in moderating oil price fluctuations. supply and demand fooil and gas will continue to be at or near the top of economic concerns regardless of declining u.s. imports from the region because of worldwide energy needs. virtually all of these are conveyed by sea, along with other commerce in the region. these commercial lifelines are the economic lifelines of the world and special interest of the u.s. and its identity for addressing this interest, the u.s. navy. of pticula

if he is right, if we are going to see a fallen commodity prices, all of opec is going shrink. he mentioned that russia is going to be budgetary trouble. if the price of -- [inaudible] saudi arabia begin to [inaudible] the price fall below $70. if he is right, we have a situation with the oil produce ers? the middle east they are going to shrink considerable belie within the islam world. the guys going rise up are turkey which is fundamentally secular and indonesia which is fundamentally secular. if terrorist a re-- [inaudible] more than americaned a venn chirrs in europe or -- [inaudible] or any other adventure in syria. he says that [inaudible] breakthrough companies he expected in europe are the disek republican and poland. okay. not countries that you immediately think of. he finds a large number of characteristics [inaudible] different from the other guys. they don't have -- [inaudible] briefly -- [inaudible] they have the great recession in good shape for the czech republican. the reason why i think they are not to be wrong is the european banking system. i am asking the

look at what's happening with opec and energy, nobody talks to them and with all of the power we havehat's going on with our energy prices and by the way it's zooming up again and gasoline prices are going through the roof again, and i just look at the way the country is viewed from the rest of the world, and we are not viewed with respect, and that's very unfortunate for president obama, but lots of bad things are happening to our country. >> but i'm just curious, before barack obama, you were a democrat for so many years. why did you become a democrat? >> i was an independent. i was a democrat years ago, many years ago, and i also come from new york, which is largely democratic, and i've supported many democrats over the years, over the years i've supported many, many democrats, i have many friends as democrats, which i view is a positive, not a negative, because somehow there has to be a coalition formed here. you can't just have two sides. that's another thing when you talk about obama and by the way, as you know, i was never a huge believer in what was going on with president bus

take 8 million of them and go to natural gas and you'll cut opec by 75%. >> and america will become a net producer of energy rather than user of energy? >> we'll still be a user, because we want to use and work with the canadian and with mexico. a north american energy alliance would make a lot of sense and to put together mexico, the united states and canada and then we would be energy independent. >> when you look at energy plans, has america ever had an energy plan? >> no, never. we're the only country in the world without an energy plan. we use more energy than anybody else. we use about 20 million barrels a day. next to us is china. ten million barrels. we import half that we use and we import that they wroo. >> on natural gas, are you sure the price will remain where it is to make it so attractive. >> i guarantee that a price stay where it is? >> no. what's your expectation of price? >> let's get to btu, our energy value for oil and gas. it's six to one. we've never seen it, for instance, if you had $100 oil that you would have $6 gas. so we're at $3 gas. >> i read an interestin

it is great for our national security not to have to depend on opec or venezuela for our oil. i think people in nevada have a pretty good measure about how the president's policies have worked or not worked. and by the way, if i win in nevada there is a good shot that makes me the next president of the united states. so the people in nevada are going to have a big say about the direction of the country. i think though want somebody who understands the economy and has a plan to actually get the economy going again as i do. jamie: both he and president obama have been a good amount of time campaigning in nevada. and both governor romney and obama plan to spend even more time there. bill: and for good reason too when you look at unemrate in that state. jamie: those folks care. they're paying attention. bill: little more background on nevada. six electoral votes. a candidate needs 270 to win. nevada has a history of picking winners. going eight for eight in the last presidential elections. almost unparalleled in recession misery. foreclosure rates among the worst in the country. r

natural gas, the most abundant supply we have, that it then takes us to a point where now we become an opec and we become the lowest cost energy producer in the world, which then spurs people coming to the united states to do one thing. and that is to have their factories over here because of the low cost of energy. that spurs millions and millions of jobs across the country. just to start with that platform with romney is so positive. host: do you think you'll hear about energy this week from the republicans? caller: absolutely, i think they are going. -- ilk about going i thi think they are going to talk about it. the negativity of the press right now in terms of setting up the republican party to take a position that if they continue the convention with the hurricane going into new orleans, but that is a negative thing and that the republicans should be standing aside and canceling their convention, which i think is so ridiculous. so i am sad about that and fed up from the democrats trying to take out to the republicans just because of a hurricane. life goes on. there are all types of di

audience or republican audience or independent audience, americans don't want to be dependent anymore on opeceign oil, don't want to feel like they're sending their sons and daughters off to war -- could you talk about percentages of dependence and how that is dropping fast. >> it's already dropping. and when i talk to audiences, probably the strongest emotional response to what i say, no future president should ever again bow to a saudi king. one sentence captures the underlying american sense of there's something wrong here. we've dropped from over 60% of our oil coming from imports to around 40, on the way down to about 25 and by the end of the decade we will probably be a net exporter. we're the largest producer of natural gas in the world. in the year 2000 we thought we had a seven year supply. they were terrified. they thought they were going to go offshore, 80, 90, 100,000 jobs overseas because that's where the natural gas was. now we have a minimum of 125 year supply and that's almost certainly wrong. >> because that's assuming no as you said no technological advance. >> last week 42

>> 4.5 million is what we import daily from opec. sfwlp so three quarters of our import?rts are about 9 million. >> let's assume there's a deficit, we transfer the -- you not only create the jobs in the bachen area that boone highlighted, manned day that american heavy truck is? >> you have mandate, they up up and run. i would say give them a tax credit of 24,000 on the difference between a natural gas truck and a diesel truck and then pay for it with the user pay, just like a toll road. if you use it, you pay for it. and then there's no cost to taxpayers. well, no, no, that's not -- you're subsidizing now. i said, okay, well, forget it. it's going to happen anyway. it is happening right now. you're saving $2 a gallon on the fuel. >> given what the tax structure is on diesel versus natural gas, you are saving that. as long as you leave that economic safety net there, the payback is obvious you can't do solar. >> they won't work. >> so you have natural gas as a logical alternative. >> aren't you going to get another great opportunity as oil heads near $100, gasoline prices

. >> the guys in the opec country are happy, laughing at us. trump will be on later.love to stick it. just as high where they don't cause slackening in demand, but high as they can squeeze every last dime out of the west. i don't like that. to do god knows what with the money. you know those guys? you know. >> say no more. >> okay. >> a quick look at the ten-year right now. glad that i locked in that mortgage rate a little bit earlier. up to 1.669%. remember, barry earlier this week suggested that this will turn around the opposite way. >> mortgage on the original property or the one next door? >> this is on the manse out in the hamptons and then there is the other one in sun valley that i have to work on. >> you joke about it, that's fine. >> and i'm trying to figure out -- may have to get a separate construction loan for the one in aspen. a lot going on. and the boat -- let's not even go there. >> okay. >> let's get to the futures pits. kevin ferry joins us from the cme. you really had fun. went off, you had santelli's job, had the numbers and said a lot of things.

some reason closing down and all these businesses closing down and jobs shipped overseas and then the opecgo, i remember in '72, '73, '74 people scratching their heads saying what's happened to america? dr. sachs points out in this book the average wage for the american male has been on the decline in real terms since 1973. so we've got a debt problem, we've got a systemic problem of just massive proportions. >> i think, jeffrey will agree with me on this, that in the course of this downturn, a lot of big companies have learned to do in a way more with less. that's part of the price of this recession, is that they've learned to be more efficient in their work force, how to automate a lot more stuff, so there is a worker crisis in the country and part of it has to do -- i've talked about this here before -- with skillset. if you could go along in something in american education, go long in community colleges, we need to have a big push that's kind of pushed around the edges and it's done epped soically across the country, we need to train people for the modern work force and young people co