Transcripts For FBC Varney Company 20170828

It is raw and, yes, it is sometimes inspiring. Your money is affected. Refineries are shutting down, and that is cutting the supply of gasoline. Prices are rising. How many drivers nationwide will gas up as a precaution today . Just like they did after katrina. And, yes, there is a political element as well. President trump says he will go to texas tomorrow. Should he go in the middle of the rescue operation . He will want to avoid the negative publicity that greeted president bushs flyover after katrina. There you have it. Cando texas, perhaps the most dynamic state in the nation, hit with a catastrophe. President trump faces his first Natural Disaster. Watch it here. Varney company is about to begin. Stuart you are going to be seeing a lot of video like this on the lefthand side of the screen and a lot of weather maps like one on the righthand side of your screen. More rain is coming, and rescue operations are, indeed, underway. I should tell you, it is still raining in houstonen x the rain is actually houston, and the rain is actually moving to the east towards louisiana. Nine trillion gallons of water have inundated houston. We are told it could rain all week. Take a look at this. A before and after picture from a highway in houston. On the left, dry as a bone. Look at it. On the right, submerged, a raging torrent. More on all of this in a minute. But first, i want to bring in President Trump, lets talk about that. President trump is set to visit texas tomorrow. Tomorrow. That is still in the cards. Dont know where hes going, but hes still scheduled to visit texas tomorrow. Come in mike brown, former fema director. Should he be going to texas at a time like this, mike brown . Stuart, good to see you. I think the question that the secret service, the White House Advance Team and fema are going to have to answer is where does the president go. I dont mind the president going to texas tomorrow, but he has to stay outside the perimeter of houston. If he goes to Corpus Christi, he goes to rockport, he goes to some of these places that are further south along the gulf coast, thats fine. But right now we still have or fema still has rescue efforts going on throughout the entire houston metropolitan stuart should he take a fly over, mike . When george bush took a flyover of new orleans, theres that famous picture of him looking out of the window of either the helicopter or the plane, and that was used against him. What happens if President Trump does a flyover theres the picture on our screens right now. He caught hell in the media for that. Should the president , President Trump, do the same . No. But heres why. Yes, its fraught with political problems, but right now there are all of these i mean, if you imagine the entire city of houston, all of Harris County, it is like a controlled air Traffic Control area. And so what the president needs to do is to keep marine one, air force one out of that area because that will shut down operations. And i can recall during katrina saying, look, i do not want to shut down operations. I was assured by the secret service that it wouldnt, but theres still a bubble around marine one. So i think what President Trump should do is go to rockport, go to Corpus Christi where the storm actually made landfall, because there are now Recovery Efforts going on there. But stay out of the area where response is still going on. Stuart got it. Now houston is the fourth largest city in the united states. Right. Stuart its growing rapidly. I think its got the best growth rate of any metropolitan area, and this morning its paralyzed. Do you think that the damage so houston will be greater than the damage that katrina wrought on new orleans . Unequivocally. Because to your point, think about this from a business point of view. If you took houston, its the 25, 25th largest gdp in the world. So its like a mini country. And it is entirely shut down right now. You know, most of the jet a fuel manufacturing goes on down there. Major refineries down there. And then when you think about just the size of that gdp being shut down, and if you look at the video that fox business and ores are viewing others are viewing or showing, you look at all of those homes, that water, as you pointed out, its going to rain continually for several more days. There is water in those homes that is up to countertops or higher. That water will take days, if not weeks to recede. And the damage to businesses, the damage to homes, i think, is going to be so extensive over such a wider area that this will way surpass katrina in terms of cost to the economy and in terms of cost to the taxpayers. Stuart mike brown, thank you very much, indeed, for being with us today. Good to see you, sir. You bet. Stuart lefthand side of your screen, dramatic scenes of rescue, turmoil, flooded streets. And as we were saying earlier, some of this video is inspiring. Those First Responders are out there risking life and limb to rescue people by the thousands. 30,000 people are in shelters as we speak. And let us not forget, their own homes are probably flooding as well, so it really is a heroic effort. Stuart yeah. Now, look at dow futures. Were going to open higher. You may be surprised at that. Maybe some investors think a catastrophe is stimulative in that all kinds of tens of billions of dollars are going to be flooding in to be spent in that area. Maybe they think thats good for the economy, i dont know. But dow futures will open higher. The price of oil will actually, it is down. 47 a barrel, down 35 cents. Theres plenty of oil. Its gasoline and how to refine it, how to refine the oil into gasoline. Right. Stuart that is the problem. If you look now im sorry, liz, i didnt mean to interrupt you. 1. 7 4, thats the wholesale price of gas, i believe that translates into a gain of, what, 10 or 15 cents per gallon at the retail level for you drivers, the pump prices up 1015 cents. Yeah. Stuart let me go live to houston, jeff flock i believe hes knee deep in water. What have you got to tell us, jeff . Reporter ive got some good news for you, stuart. If youre look down the road here, this is a part of houston that yesterday had about seven feet of water in it. And today the water has dramatically gone down despite the fact that were still getting soaked out here. Yeah, youre right, were still almost knee deep in water, but yesterday look at these homes yesterday, already damaged by flood waters kicked in garage doors and the rest and, you know, theres water damage all over the place in here, and as i said, its still raining. In some of the areas, the bayous because theyre releasing water from those reservoirs that they need to release from because theyre worried the dams are going to give way those are still rising waters. But this neighborhood, fortunately, already the water going down. But were still getting hammeredded by rain, and they say its going to get worse. A little good news, a lot of bad news stuart jeff flock, well take, if theres any good news, we, sir, will take it. Back to you later. Jeff flock, thank you very much, indeed. You know, anybody in our audience who has ever had water in the basement knows this is and theyre talking about water moccasins and alligators and wildlife being flushed off the habitat. Great story of a guy caught a massive fish by hand in his living room. Yeah, absolutely true. [laughter] stuart we can raise a smile on occasion. Yes. Shows you how bad it is too. Stuart let me put that graphic back up again. These are refineries knocked out of action by harvey. 15 of americas Refining Capacity is gone, a quarter of the Oil Production from the gulf is gone. Six Major Oil Companies have closed their refineries, exxon, shell, phillips, new star, valero. Scott shellady is with us. All right, wholesale gas prices up about 4. 5 as we speak. Im told that translate ares into a 1015 cent per gallon rise nationwide at the pump. Is that accurate, scott . Yeah, i think thats accurate. Its on the low end. It could actually be a little bit more. And you know what it really is going to come down to is, basically, this storm and what its done to the price of gasoline will be a shortterm tax on the residents in the u. S. , and thatll help get us through it. Ultimately, this will abate, but right now were going to see a shortterm tax on gasoline probably when we dont want to see it. Stuart am i right in saying itll take several weeks to get the supply back up to normal. Weekings as opposed to months, right . Yeah, itll take weekings. And the good news here is we are very resilient, stuart. To come back in weeks is still a big story, and thats great. Like i said, therell be a shortterm tax, well all get through it, but right now its going to hit when it hurts the most. Stuart explain why the price of crude oil is down this morning. Well, we take that oil and refine it into gas, and thats what we need in the short term. It takes a while to turn oil into gas, and all the while were sitting on a ton of oil. That cant help us right now, so thats the problem. We need something to help us right now. Weve got a limited supply of it. And theres a lot of it, were still in a supply situation, its not a demand situation, its keeping things kind of keeping the lid on things, and thats why youre not going to see oil rally. Stuart briefly, can you explain why the stock market is going to open higher this morning . Identify got to tell you ive got to tell you, stuart, seeing all the pictures and the good news story, theres a resiliency to america in the face of some of these tragedies, all of these tragedies. And i sometimes think these things flow through into the stock market. And so the stock market will act resilient as well. Theres going to be a little bit of a feelgood factor. Youre going to see money flow that way, but ultimately when it comes to initial jobless claims, theyre going to spike in the short term, but when you take a look at the whole country as a whole, these things as far as affecting gdp dont really come through. Stuart scott, thanks very much for joining us. Well see you again at 9 30. All right. Stuart dramatic images to show you including this. Truck driver rescued from his cab. They plucked this man out of ten feet of water at great risk to themselves, by the way, but they got him out. And later this hour a father of five, including three baby triplets, theyre riding out the storm. They are stuck in houston. Theyre going to tell us their story on the air this morning. Youre watching harvey coverage on Varney Company. Its time to rethink whats possible. Rethink the experience. Rethink your allergy pills. Flonase sensimist allergy relief uses unique Mistpro Technology and helps block 6 key inflammatory substances with a gentle mist. Most allergy pills only block one. And 6 is greater than one. Rethink your allergy relief. Flonase sensimist. Stuart theres an underlying story here about whos bearing the brunt of underwriting Flood Insurance. Ashley . Well, you cant get insurance from most of the major insurers, so that means this is really a water event, and the federal government is going to take the bankrupt of those insurance claims because there is some Flood Insurance in the secondary insurance market, and thats a big gamble for those companies. Thats why the government tends to cover what Flood Insurance there is. So its going to be a huge amount of money stuart i dont believe that money is in the budget. No. Stuart which they have to pass. So wheres it going to come from . Stuart when does it get put into the budget its 25 billion in the hole, that program. Stuart righthand side of your screen, the movement going towards new orleans . Yes. Thunderstorms and tornadoes potentially spinning toward the coast. The president has issued Emergency Declaration disaster areas for five louisiana parishes, sos this is an area that is now on tornado watch today. Stuart and there are more refineries in louisiana. Thats correct. Stuart in that area too. Why is the stock market going to open higher this morning . What is with that . Most people would tune in saying this is a catastrophe, fourth largest city in america underwater. Some time. Obviously, the markets are looking beyond this, stuart. Stuart now, the president is due to start his barnstorming tour, i believe he starts in missouri, and that will be the day after tomorrow. Thats still pretty close to the, still the impact of harvey. Yeah. Stuart do you think maybe his message is watered down a little . Ot tax an economy into prosperity, and when you look at this devastation, cutting tax rates would accelerate the Recovery Efforts dramatically, it would bring the. Stuart i just want to lay something on real thick here, art. Our own janice dean is saying this storm, harvey, is shaping up to be the worst flooding ever in American History its amazing. Stuart and it will dump more run than any other previous storm in American History. Thats the size of this disaster. Any comment . Well, yes. Its an enormous disaster, and, you know, thats why we have to focus, laser beam focus on how to accelerate the recovery in texas. And that really requires Government Action not by spending theyve done, i think, a pretty good job, stuart, with fema and all this in helping that. I mean, this is beyond the pale disaster. But whats really important now is to think of how do you accelerate that recovery in texas and to make it happen faster, not slower. And to my way of thinking, getting burdens out of the way of people who want to recover is really the key. And thats really maybe even having a tax holiday for six enormously beneficial thing to accelerate this recovery. Its going to be a long haul before this is recovered. Stuart and they are a resilient people there in texas. They are. Ive got two children living this. Stuart have you really . Yeah, ive got one in austin and one in san antonio. Stuart okay. Best wishes to them all. Art, thanks very much. Thank you. Stuart now, lets see where we are. Were going to be bringing you all through the david owe as dramatic as this. This is video as dramatic as this. This is dickinson, texas. Thats a live shot yes, it is. That is a live picture right there. Its still coming down by the bucket load. Thats extraordinary. All right, well be back. More video like this and an update on the market. Nah. Not gonna happen. Thats it. Im calling kohler about their walkin bath. My name is ken. How may i help you . Hi, im calling about kohlers walkin bath. Excellent happy to help. Huh . Hold one moment please. [ finger snaps ] mmm. The kohler walkin bath features an extrawide opening and a low stepin at three inches, which is 25 to 60 lower than some leading competitors. The bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. Kohler is an expert in bathing, so you can count on a deep soaking experience. Are you seeing this . The kohler walkin bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage. Everything is installed in as little as a day by a kohlercertified installer. 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Switch and you could save 782 on home and auto insurance. Call for a free quote today. Liberty stands with you™. Liberty mutual insurance. Stuart even though houston, texas, is underwater this morning, a catastrophic flooding situation, the stock market will open higher this morning. Gasoline prices up and so, too, are stock prices. Joining us now is the Houston Police chief, art acevedo. Sir, welcome to the program. Thanks for very busy time for you, we appreciate you taking time for us. Was it a mistake not to order the general evacuation of houston late last week . Oh, lord, you know, a lot of the, you know, the back street quarterbacks, i absolutely support the decision of our mayor and the county judge to not evacuate. Where do you take a region of 6. 5 Million People . Where do you send them . Especially in a state that is so prone to flash floods on our highways. We havent been able to get resources here because highways have been blocked throughout the state of texas. So i dont think they understand the complexity, they dont understand just how widespread this entire emergency has been. Theres nowhere to take them. Stuart there is some talk this morning of opening up a dam to release more water, a controlled release of water which actually will raise the water level in southwestern houston, thats what ive been hearing. Can you confirm that, and you tell us if the people in southwestern people are now trapped . Well, no, our colleagues at Harris County has been, theyve been effectively going to potentially affected neighborhoods to evacuate them, theyve been working on that for several days. These dams cant handle the volume of water thats on the other side of it, and unfortunately, if we dont open it up and try to do a controlled release, we have a catastrophic failure of that dam, it would be the damage would be beyond the wildest imagination. So there will be a release. We anticipate additional flooding not just from the dams, but also from all these rivers and tributaries that come into houston trying to get over to the gulf that are yet to come. This emergencys far from over. Stuart are you comfortable with all the resources that youre getting from the feds . We are, the state and the federal government and cities throughout the country are sending resources. You know, our mayor was talking the boston mayor called him yesterday, and theyre sending search and rescue teams, new york city, california, oklahoma, louisiana. Again, the challenge has been that a lot of them have not been able to get through because of the widespread flooding throughout the state of the texas. So again, those that think we could have somehow magically evacuated 6. 5 Million People in this region and 2. 3 in our city dont understand there was, that was humanly not possible. Stuart chief, you make a lot of sense, and we appreciate you taking time out an extremely busy and pressed situation. Thank you all. Have a great day. Stuart well be back just a moment from now, opening of the market. Where to get in. Where to get out. If only the signs were as obvious when you trade. Fidelitys active trader pro can help you find smarter entry and exit points and can help protect your potential profits. Fidelity where smarter investors will always be. Its a highly contagious disease that can be really serious. Especially for my precious new grandchild. Its whooping cough. Every family member, including those around new babies, should talk to their doctor or pharmacist about getting vaccinated. Stuart if youre just waking up, just joining us, youre going to be seeing pictures throughout our program of houston underwater. There is real drama opening up for us this morning. The stock market is opening this monday morning with Hurricane Harvey or Tropical Storm as it is now harvey as the backdrop to todays trading. And look at this, we are going up right from the opening bell. You may have expected a downside move. This catastrophe in houston, not so. We are now up 35 points in the first 20 seconds worth of business, and i see an awful lot of green on the lefthand side of your screen. How about the s p and the nasdaq, both of them those indicators are hire as well. Thats the kind of video that were talking about. That is dramatic, indeed, from dickinson, texas, and thats a live shot. On the righthand side, the price of oil is down. You may be surprised at that as well. There is a surfeit of oil, its the gasoline we lack. Oil drillers on the upside, almost all of them. Theres only one on the downside, and thats not much. Got to explain that one for you. Generac is a hurricane stock, its up. Home depot and lowes, they provide the Household Goods which you need to replace the damage. Both of them up very nicely, thank you very much. Now, the airlines, focus in particular on United Continental which has a big hub in houston, and that hub has at this point is closed, okay . And we have united on the downside not by much. We actually have a gain for jetblue, and thats about all in the airline stocks. They are mostly lower this morning. All right, monday morning, whos with us . Ashley, liz, of course, keith fitz, scott shellady. Keith, why is the market opening higher on a day like this . The irony, stuart, is we mow all about hurricanes by virtue of the news and the media stream. What we dont know about is terrorism, so traders have learned to live with stuff like this. Stuart okay. Scott, whats the impact on the price of gas . Short term, long term. We hear i know its going up right now. Whats the greatest impact . Well, once we get these refineries back online, stuart, thats one great thing about american ingenuity, well get them back on line faster than anybody else in the world, and obviously the price will come down. Making oil into a gas is a process. Processes take time, thats why we dont have enough gasoline right now. Its going to spike, but it will come back down, its just going to be a shortterm tax. Stuart put some numbers on it. When you say a spike, 10, 15 cents a gallon shortterm up . I think that youll probably see a little bit more than that as folks kind of stockpile because they wont realize that, ultimately, this will correct itself. It could be closer to 20 cents, but it wont last forever. Stuart okay. Keith, im wondering if the president s barnstorming tour which starts tomorrow in support of tax cuts, hes doing it regardless of harvey. Is that a plus for the market . You know, for me personally i dont think so, and heres why. I think the president needs to act president ial. I think youve got lots of people in need, and you need to have somebody in command. If i were him, i would be in texas immediately. The barnstorming can wait. Stuart what do you say, art . The barnstorming tour is still a positive . Well, the tax cut is still as important as ever, if not more important. I dont know whether the barnstormings the right thing to do or not but, boy, the Corporate Tax rate reduction is the key to recovery and prosperity in this country. Stuart three and a half minutes into the trading session this monday morning, and the markets, the stock market is up. Weve got a 34point gain for the dow industrials, 21,848. In a separate issue, we have the web site, the news web site axios which reports that President Trump wants tariffs on china. There are reservations about that from gary cohn, senior economic adviser, and others. Nonetheless, axios says thats what President Trump wants. Keith, what do you say about tariffs on china . I tell you what, that is such a dumb idea, you dont even know where to begin. [laughter] they produce so much material for us and, you know, thats going to hurt the average american, not help the american. So politically, you want to grandstand, you want to barnstorm, fine. But that is going to come back to bite you in the wallet and badly. Stuart liz . And itll hurt Tech Companies in the Financial Sector that wants to get into china. China has erected massive barriers to companies struggling to get into this gigantic marketplace. China has notoriously shut down anybody coming in when these actions take place. Stuart its a bargaining chip though, isnt it . Retaliatory. When obama threatened it, china slapped tariffs on tires and the like its a nowin situation, ill be honest with you. These big Tech Companies are not getting anywhere in china. Throw tariffs in the mix, and they definitely wont get stuart keith, do you think it could be a bargaining chip of value . I think ash and e. Mac are spot on. This is so dumb, you dont even know where to begin. [laughter] stuart okay. Five minute into the session so dumb you dont know where to begin. [laughter] we got the message loud and clear. [laughter] art laffer, why dont you comment on this. Well, i would. This is my area of specialty, and protectionism never works. If it worked, north korea would be the most subservient nation on earth. Theyd love us, and weve just done nothing but bad harm whenever we try to put in protectionism. Its the wrong thing to do. Stuart all right. Let me sum up the Market Reaction so far this monday morning. We have the stock market up 34 points on the dow industrials, we have the price of oil, surprisingly, down about 30 cents a barrel. And we have the wholesale price of gasoline up roughly 4. 5, 5 which translates to a 1015 cent gain at the pump for you. Thats the nationwide average for now for regular, 2. 36. Amazon, theres always an amazon story, and theres one today. Lowering prices at whole foods which they now run and own, and the price cuts start today. I think, keith, that this is the antiinflation effect. Im sorry, i want to go to art on this. This is the antiinflation effect of the internet, isnt it . Well, it may be that, but what it is is a signal to me to buy jenny craig. Stuart what . [laughter] jenny craig. When you cut food prices, im in my element. There i go. But then ill need jenny craig. [laughter] seriously, its been a longstanding thing in the u. S. To see Higher Quality food. If you take me back 70 years, to the end of the 40s, stuart, and you go into a Grocery Store and look at what you can get for what price you pay, it is just amazing the Technological Progress that we have had in the most mundane of all products, food. And if you go into any of these modern, hightech food stores, its just incredible, the variety and the quality that one can acquire. And its just part of the longterm trend of lower prices and better quality, and i think its just amazing. Stuart kale on sale [laughter] i just invented that. Very good. Stuart another corporate story, expedia. Look at that stock price. I believe its lower today because their ceo is going to uber. That yeah. Stuart thats a job nobody wants, but he does. What a dark horse, came out of no where. I think we learned this as the announcement was being made, but the employees are being told first. Hes a 48yearold iranianborn former ceo of expedia. We heard about meg whitman, we heard about, of course, jeff immelt from ge. Those candidates met over the weekend, but it was mr. Khosrowkhari who came through as the dark horse. Hes got a big road ahead of him, huge losses at this company. Theres the lawsuit from alphabetgoogle on patent theft, alleged, tarnished brand, low morale, you name it. Good luck on this one. Its not going to be ease easy easy. However, saying all of that, do you know how many people use uber . Yes, they just need to find a way to make money. Stuart expedia really liked him. Yes, they did. Barry diller really liked him. I mean, this guy was great at expedia. Hes been there since 2005. Stuart monday morn, this following the catastrophe in houston over the weekend, were up 25 points. Looking down the road, and thats what the market does, maybe the market sees a great deal of money being spent to rejuvenate houston. Maybe thats a long shot, but the market is up in the very early going this morning. I should also tell you that the price of gasoline at the wholesale level thats the story, the price of gasoline. Now, this is the at the pump price, 2. 36, the national average. At the wholesale level, its rising sharply. Weve got a 4. 5 gain for the future price of gasoline. Its 1. 74, 4 higher. That will translate eventually to a higher pump price. Were figuring roughly 10, 15 cents per gallon, maybe a little more at the pump. My question is why have we not yet seen driverses lining up at pumps all across the country filling up every vehicle that theyve got . Thats what they did right after katrina. Anecdotally, ive not come across any of that thus far theyre not going to do that for 15 cents extra on a gallon of gas. Well see how it develops, but its not the iranian oil embargo. Stuart i think its the supply of gasoline thats the problem, not so much the price. If you look at that weather map, bottom righthand corner of your screen, the rain, the storm is heading east going towards the other refineries which are in louisiana. You cut off supplies from there, and you further restrict the gasoline supply in america. You would presumably expect supply problems to your gas station that is true. Yeah, that is true. Stuart we havent seen those lines yet. No, no. Stuart and we dont want to encourage that. We dont know the full extent of what this storm has and will do still. Stuart thats right. What an extraordinary start to a week. Youre watching it on fox business. I have to say thank you very much, indeed, to scott and to art and to keith. All sections of the world covered right there with those three gentlemen, the united states, the west coast and london. [laughter] what a show youre watching. Still ahead, the congressman representing Corpus Christi will join us. He voted no on relief for Superstorm Sandy four years ago. Were going to ask him about that. Plus, janice dean joins us with the latest on the storms track. What a show. Well be back. Stuart a very modest gain in the aftermath of harvey on the stock market, that is. Were up 15 points. I want to go straight to the new york stock exchange. Nicole, the impact on retailers, please, tell me. Reporter a lot of these retailers, stuart have, obviously, stores down in texas. Looking at a mixed bag right now. Dillards about 20 are down in that area, roth stores about 14 . Also watching stein mart and jcpenney slightly to the downside. Walmart, target, some of the names that also have exposure. Sams club, not only, obviously, merchandise, but food retailers, watching anything related to food. Sprouts has about 15 of their stores, walmart almost 13 . And those are trading to the downside. So well see what the impact is going forward. Back to you. Stuart nicole, thank you. I want a Weather Forecast for south texas, and who better than janice dean whos got it dead right so far . Storm totals so far, please, and how much more is coming. Reporter over 30 inches of rainfall, stuart, over the last couple of days, and you can see the worst of it in the shaded, the light pink here is where weve receive ised over two feet of rainfall. And an additional 1824 inches on the way. Historic amounts. If we get over 50 inches, thatll be the biggest rainfall event from any Tropical Storm we have ever witnessed in the u. S. So pasadena, sugarland over two feet, houston hobby, 24 inches and, again, the rain continues. As long as the center of circulation is west and south of houston, we have the potential for heavy rain to set up in and around the houston area. The heaviest rain now moving towards louisiana. And theres the track. Finally, as we get towards the end of the workweek, well see the system lift north and eastward. But for now over the next 73100 hours, were still going to deal with the threat for heavy rain. Also want to point out the threat for severe storms. These are tornado warnings now moving into louisiana, and some of these outer bands could see anywhere from 46 inches ap hour. So not only the net for tornadoes, but were going to see the flooding threat heading towards louisiana, coastal louisiana. So thats going to be a concern. Taking a look at forecast totals for the area that have received epic amounts of rain, so houston anywhere from a foot to 18 inches. We could see a bulls eye of another additional two feet north and east of houston. Not only the houston area, stuart. I mean, Southeast Texas into louisiana getting record, epic disaster flood totals. Stuart extraordinary. Thank you very much, indeed, janice. Im staying on harvey. Wring in Congress Bring in congressman blake farenthold. Sir, you voted no on sandy relief some years ago. Now what happens with the relief that you want from the feds for this . Listen, im not opposed to disaster relief, i never have been. The sandy relief bill was, had more pork in it than a bacon factory. They had funding for things as far away for alaska that wasnt even touched by sandy. That was not a vote against disaster relief, that was a vote against pork barrel spending. Stuart President Trump is going to visit texas tomorrow. Dont know exactly where hes going or what he will do when he is there, but do you want him to come . Do you think this is a good time for him to come . Well, in Corpus Christi were not in the middle of the disaster, were starting to go through the recovery phase. But weve got lawyers very near areas very near us that were heavily damaged. I think its important that the president see whats going on so we can be sure the federal resources are available. Conditions havent cleared in houston yet, so, you know, probably not appropriate for him to go up there, probably not safe for him to go up there. But i do think having your own eyes on the devastation that i have seen is important. Stuart the state of texas is not on trial, but its been looked at very closely, how it responds to this. President trump is being looked at very closely, how does he respond. How do you think the two are doing so far . I think its doing phenomenally well considering this is an unprecedented storm. Normally are, a hurricane will come in, blow through and be gone in a couple of days. This storm will not go away. Its been pounding us since saturday. Stuart can you describe Corpus Christi for us . I mean, now you can have a look at what has happened. Describe, please. Corpus christi has actually dodged a bullet, but 30 miles across the bay in port aransas, its pretty much every boat in the harbor is sunk, buildings destroyed. The National Guard is stopping people from coming in unless youve got a port aransas address on your drivers license. Rockport, about 40 miles away from Corpus Christi, also devastated, no water, no sewage, no electricity, no Grocery Store. Theyre completely dependent on Water Supplies from the government, and its tough. Ill be visiting, again, by helicopter, i believe, with Governor Abbott and senator cornyn this afternoon to see how theyre doing. But when we tried to drive there the other day, we got about threequarters of the way there, you had mobile home parks destroyed. There wasnt a sign up on the street. The cell tower had wires still flapping in the wind. Its not a pretty sight. Stuart congressman blake farenthold, youve got a busy day, a busy job. Thanks for taking time out to be with us. Thank you very much. Thank you, stuart. Stuart two stories were following, of course, the market, and yes, that dreadful flooding. Next, a father of five including three baby triplets, hes riding out the storm with his family. As of last night, they were staying in their home with 22 inches of rain still to come. He will join us momentarily. A programming reminder, please. Im going to host lou dobbs show tonight. That will be 7 p. M. Eastern time. Dont miss it, please. Ill be on the air at seven tonight live on the dobbs show. I know when i hand them the keys to their first car its gonna be scary. But i also know that were gonna have usaa insurance for both my boys. Its something that theyre not even gonna have to think of. Its just gonna be in the family. Were the tenneys and were usaa members for life. Itwhats possible. Nk rethink the experience. Rethink your allergy pills. Flonase sensimist allergy relief uses unique Mistpro Technology and helps block 6 key inflammatory substances with a gentle mist. Most allergy pills only block one. And 6 is greater than one. Rethink your allergy relief. Flonase sensimist. 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Im going to try to get his attention. There is water filling his cab. Incredible kudos to these two sheriffs deputies who are risking themselves on this boat in very deep water to pull this driver to safety, and here he comes. Stuart well done, everyone. Thats live drama unfolding on live tv. A local reporter at khou helping to rescue that stranded trucker. Look at him, you can see him crawling out into the rescuers arms. Good stuff. Nwo look at this. Khou studios are located in a flood zone, and they flooded during the live coverage. That reporter you saw earlier, she was the only person on the air for that station for quite a while [laughter] they got set up on the second Floor Conference Room and carried on. Great stuff, well done, all concerned. You know, thats some inspiring video, ive got to say. It is. Its the human drama and the heroics from people who put their lives on the line. Yeah. When Mother Nature comes in, human nature steps up. Stuart its good stuff. Go back to that question, why wasnt houston evacuated . Yeah, thats right. We saw this in hurricane rita in 2005. What happened was people got stranded in their cars, more rain, more storm surges came in, people were flooded in their cars as they were trying to evacuate. People died in their cars, there was medical episodes, so there was a concern that it could turn into a parking lot with three Million People trying to leave. Stuart thats what the police chief of houston told us just moments ago. You know what he said . Where are we going to put em . Stuart right. Trying to escape at the same time and then get caught in the storm. Stuart thats a fatherly good reason, ive fairly good reason, ive got to say. Perfectly acceptable. Now, the later story thats developing is that weve got a controlled release of water from two reservoirs near houston. Right. Stuart they want to avoid the dams breaking which would inundate houston with even more water, but it does mean the southwestern part will get even more water because of this controlled release. Nothing you can do about that. The authorities are doing for the greater good. Thats right. Stuart yes, indeed. Now, we were going to have Jeremiah Johnson on the phone with a live report from him and his family. Hes the professor at houston baptist university. Hes trapped in his house. He has five children including trip relates triplets, baby triplets. He was going to report to us on the phone. Thats a beautiful family. Yeah. Stuart he was going to report what was happening to him and his family. Weve just heard that he is being evacuated as we speak. Wow. Stuart its happening right now, and thats why the gentleman, the professor, cannot get on the air with us. But well get him on the air, well have him tell us his story as soon as we are able. And, yes, well be back with a whole lot more. Youll see a lot more inspiring video from the lefthand side of your screen and the passage of the storm as it heads towards louisiana. Not good news. Well be back. Stuart harvey is a test. Can texas handle this catastrophe . And how will President Trump handle this first disaster of his young presidency. The state of texas and president will not want a repeat of katrina which was a physical, pr disaster for new orleans and president bush. Texas has a reputation for a cando state, dynamic, efficient, booming. So far governor be a so the has been in charge and on top of the problem. He marshalled resources and lee ais with a feds. Texas is republican state. Democrats will be eager to find fault. President will visit tomorrow that carries risk. He could be criticized getting in the way, bringing the baggage of the presidency into heart of rescue operation. If he does a fly over, he risks looking like president bush who was savaged for looking down on the stricken new orleans. No matter what he does the left will surely find fault. The president has an advantage, his chief of staff is general kelly, until a few weeks ago was in charge of fema who was handling deplaced people. He is from the military and deployed a squadron of helicopters to the area. Texas is living up to the reputation as a state that can do what has to be done. The president is front and Center Getting all the federal hope the Lone Star State requires. Of course there is Political Risk. But if there is a demonstration how america respond to disaster, i think were doing okay. The second hour of Varney Company is about to begin. Stuart the stock market opened higher this monday after the harveys effect on houston. Now we turned lower, just 13 points. Just below 21,800, just at it. The price of wholesale gasoline is up. That is because refineries are closing. Some pipelines are shut down. There are questions about the supply of gasoline. The price is going up at the wholesale level t will likely rise 10 to 15 cents per gallon to you at the pump all across america. That will happy fairly soon. Back to Hurricane Harvey, Tropical Storm now harvey. President trump heading to texas tomorrow. Joining us on the phone Lieutenant Governor of texas, dan patrick. Sir, where will he go in texas and could he just be getting in the way of rescue an recovery. Stuart, my good friend good to be with you under these circumstances. I dont want to talk about politics, stuart. Were focused on saving lives. We have maybe the largest disaster in American History in our hand, first of all in terms of the president i did talk to the governor last night. As of last night im not still aware where he may fly into. To be candid they may have made that decision. Right now were focused on helping neighbors and friend of the we kel come the president. He has done a terrific job at this point working with Governor Abbott who has done a terrific job. Our state has responded. We have overwhelming issue to deal with. Texas has a can do spirit. You bet. Well get through. I want to give you a sense of this, look at clock on the wall, look at middle of the clock that is houston, north of that is a city called conroe. That would be 6 00 midnight would be gal vest ton. All that consider all the city, west side of houston would be nine an east side would be three. All of that is covered with water, stuart. All of it. Stuart amazing. Were pretty much paralyzed. That 200 miles, that 200 miles is from where the storm hit. Like the storm hitting your studios in new york and boston would be flooded. We will get through but it will be tough. Stuart wellsaid, sir. Lieutenant governor, the first lady will go with the president tomorrow to some part of texas. I want to bring up the, there has been some criticism maybe houston should have been evacuated. The mayor did not issue an evacuation order. This morning the citys police chief on this program said, look, you couldnt evacuate the place, where do you put all those people. Do you think is was the right decision to hold people in place. Stuart, im focused on saving lives, not politics. A lot of interviews, updating folks, youre my good friend. I will not get into that stuart. This is not the time to let us into the political debate. I will not let the media get us into that i mean that with all due respect. Certainly, when the governor said if it were him, he lived in houston or corpus he may find Vacation Days and move out. I think that was a good suggestion. Im not going, secondguessing will be done later. Right now, there is an issue, whether it was evacuating all those people or what you will do with them now. Were getting help from dallas and san antonio. Stuart, i want to get back to something. We have a flotilla of ships coming in, privateowned vessels from louisiana, other states, across texas, not near the storm, coming hundreds of miles with their ships, they are going to neighborhood, house to house, trying to rescue people who are elderly. Women who are pregnant. With Young Children, trying to get them out. Right now it is all about, even when you rescue these people, stuart, their first reaction is thank, god im alive. Lives are precious. Not even furniture. That can be bought. You can repair a house t will dry out. Politics will be politics. Right now life is important. Texas is pulling together as one in a, were pulling together as one. We have a cando we will do. Stuart throughout this interview weve been running i think is inspiring video. People coming together to rescue, save lives and help those clearly in need. It is inspiring story from the can do state of texas. Thanks for joining us. Lieutenant governor dan patrick. Appreciate it. Always appreciate you, stuart, thank you. Stuart want to bring in kirstin tate, contributor with the hill. Kirstin you are now in austin but you live in houston. What have you heard about your home back in the city where you live . You know, most of my houston friend, stuart, decided to stay in the city and kind of ride out the storm. And the stories im hearing from everyone down there are just heartbreaking. People are stranded in their homes with no food or fresh water. Floodwater is rising up to highway signs in many cases. Infrastructure is down. People cant get through to nine web one, so you have families literally, huddling on their roofs, praying that someone will come save them while their houses are flooding. Lives read reports that burglars are going on ransacking houses because there are no cops available to stop them. It is devastating. Stuart what about your house. Do you have any information about are where you live . I dont know. I dont know what i will go back to. It is very scary. The important thing im safe. My friends are speaking with are safe. Some have family members they cant get in contact w there is complete confusion. Stuart when did you get out . I left on friday. Im a yankee, stuart. Im from the northeast originally. I dealt with snowstorms and blizzards. I never dealt with a hurricane like this. I almost didnt leave. As my family and i were driving out, the rain was coming down so hard barely seeing out of the windshield. The remember last thing i saw was a kitten huddled under a overpass. There are animals out there. It is very sad. Texans are strong. Theyre going to get through this it will take more than a storm to get the good people of texas down. Stuart you will not going back anytime soon, are you . Almost certainly going to be weeks before you can get back, is that correct. I have no idea how long i will be here in austin. Again the important thing im safe. I got to tell you though, stuart, im amazed how unprepared the city of houston was to deal with this catastrophe. The mayor could have issued a voluntary evacuation, giving people several days to exit. He didnt do that he told people to stay. Made no provisions for people underprivileged, no options. People are suffering. People could have left did not. Im disappointed with that. Stuart we had the police chief of houston on the show this morning. We put that question to him, why didnt the mayor order evacuation of the city . His response was, where do you put them . There are 6 1 2 Million People in the houston area, where do you take them to . What do you do with those people . If you ask them all to leave, you do face the prospect of some people being in grave danger in their cars, as the floodwaters rolled over them. I mean, you can see the mayors point of view, surely. That happened in hurricane rita. That is what happens with mandatory evacuations. Im not saying he should have done that. What i believe he should have done issue a voluntary evacuation. People who do have place to go, who do have family in the other parts of the state, urging them to leave, several days in advance, giving them time to get out. That is what should have been done, not telling people to stay put, that was irresponsible in my opinion. Stuart i will come back on that because the authorities in middle of last week didnt really know for sure the extent of the catastrophe that they were facing. It really became a more apparent as a forecast 11 30 eastern time on thursday. That is when we started to cover it as potential 25 inches of rainfall on houston. Look, kristin, thanks for joining us. Youre in a tough situation right there. Come on back, inform us how youre doing, if you ever get back to the house to tell us what the damage is. Thank you very much, stuart. Stuart very much appreciate it. A corporate story now. Were a financial program. Corporate news is there for us. Amazon, you might want to know this, lowering prices at its whole foods, what you call it subsidiary . I dont know what to call it. Lowering prices at whole foods today. Kale getting cheap. Liz changing whole foods whole paycheck reputation. Breaking analysis from morgan stanley. 10 discount. How amazon could break even. This is what amazon does. It will cut into the profit margin, raise own costs to get customer loyalty, more customers in the door. Youre right, beef, salmon, cucumbers that you like, you could see maybe 10 , 15 discounts t could go even deeper as amazon tries to getten more prime members, new prime members. Stuart delivered to you, for free, discount, on kale i will probably take it. Liz two bucks for 8dollar delivery. Stuart dont mean to lighten up the mood. Very sad story for those involved. Nonetheless there is other news. Well bring it to you. Coming up harvey a political test for President Trump, will he be under fire no matter what he does when he heads to the region. The left wants it that way. Theyre all over him. Trying to be political. Stay with fox business. I will be up late tonight. Whoop tee do i will host lew dobbs show 7 00 tonight. All the way through, please. H. Every family member, including those around new babies, should talk to their doctor or pharmacist about getting vaccinated. Im vern, the orange money retirement rabbit, from voya. Im the money you save for retirement. Whos he . Hes green money, for spending today. Makes it easy to tell you apart. That, and i am better looking. I heard that. When its time to get organized for retirement, its time to get voya. Stuart big board shows a very modest loss. Were down 16 points. Pretty even split between winners and losers on the lefthand side of your screen. Now this. Protests turn violent over the weekend in berkeley, california. Started peacefully with an antimarxism rally. Then antifa counterprotesters showed up and the violence broke out. Come on in, scott year, columnist with the daily caller. Who started the violence. It was antifa, like usually occurs especially with protrump rally. There were reports that was white supremacists, altright, no. These were standard trump supporters. Leader of the rally was nonwhite himself. Ant antifa clearly started the violence and police let them and beat anyone who was identified as trump supporter. Stuart community. Berkeley, are all conservatives white supremacist. Essentially to these leftist, violent leftists anyone who voted for trump or is republican is a nazi who deserves violence. Doesnt matter how, what your skin color is. There is even last week in houston a africanamerican man who was a, not houston, excuse me, phoenix, an africanamerican man supporting donald trump who was attacked and called a nazi. Doesnt even matter what your skin collar is, or ethnic background as long as youre a trump supporter youre a white supremacist. Stuart Sherrod Brown slammed President Trump, basically equating the president s words with hate speech. Roll tape. Democrats will stand up to hate speech. Whether it is coming from the president or whether it is coming from the klan or nazi, antisemites and racists in virginia and the 35 organizations identify in ohio that are hate groups. We are the party of justice. Stuart senator brown just tarred president bush, im sorry, president bush with the hate speech label. What do you say . They try to say this to everybody. Hate speech is Political Tool for silent anyone they disagree with. Anything offensive you say about immigrants, bus about anything can be labeled as hate speech. Using this label is easy for them to shut down speech they disagree with and all it is is and intimidation tactic to shut down republicans and anyone on the right who disagrees with their policies. Stuart how would you define a white supremacist today. To the left, anyone who voted for trump. Anyone who has problems with Mass Immigration or multiculturalism. Anyone who does, who fits all those categories would constitute a white supremacist. They throw it around recklessly to the point the term no longer has any relevance. Stuart this violence is not going to stop, is it . Not at all. Antifa is boldened at a stage we could never imagine in few years past. With the media promoting this idea you should punch and kick, do anything bad to people who are considered nazis, there will be more ant fifa violence in the future,. Stuart simply not reported that way period. It is not. I read all the reporting over the weekend t was not mentioned. Not properly. We appreciate you being with us, scott. Great stuff. Thank you. New orleans is so far spared the worst pro harvey although it is approaching. The city is on alert. Stuart what is this about pump failures . Key turbine that burned, supplied energy for pumps. Stuart in new orleans, to get the water out if it comes in . Liz exactly right. Now they have a number of pumps still out of commission. The president has just about an hour ago declared a state of emergency for the entire state of louisiana. There are tornadoes potentially spinning towards new orleans, in the middle of harvey. Certainly thunderstorms as well. So theyre on tornado watch as well. Now they just reupped and revised their expected inches of rainfall to 25 inches right now. Stuart for new orleans. For southwest louisiana. Stuart southwest louisiana, 25 inches of rain. Liz there is concern that could overwhelm the citys drainage system which is not as up to speed as houstons. Stuart janice dean said on our air, that harvey will deliver more rain than any other storm in American History. Ashley think about that. Hurricanes normally blow through and gone in couple days. This one wont go away. The big story is water. Liz important point ashley just made. Stuart this thing hovers until the end of the week, thursday, friday. It keeps on raining. Extraordinary stuff. How about this . New mandatory Evacuations Ordered in parts of texas this morning, parts of houston, that is. As levels in a local river reach record levels. Well take a live look at houston in a moment. Hi, im mindy kearns. Its great to finally meet you. Nice to meet you too. Your parents have been talking about you for years. Sorry about that. Theyre all about me saving for a house, or starting a college fund for my son. Actually, i want to know what youre thinking. Have a seat. Knowing that the most important goals are yours. Multiplied by 14,000 financial advisors, its a big deal. And its how edward jones makes sense of investing. con artists. theyll try anything to get your Medicare Card number. So they can steal your identity, commit medicare fraud. What can you do . Guard your card . Guard your card . Just like your credit card. Nobody gets my number, unless i know they should have it. To protect your identity, new Medicare Cards without Social Security numbers will be mailed next year. Visit medicare. Gov fraud stay sharp people stuart houston, seen of catastrophe, look at that on the lefthand side. Jeff flock is with us, literally driving through high water. What are you seeing, jeff . Yeah, we thought we would do, what weve been doing, stuart, which is give you a tour along the streets of houston this is what people are dealing with in the city right now. There is water everywhere. Although, i got to report to you, as i told you last hour, as much as there is still water in the streets, take a look what is called rays bayou out to the right. This is one of the bayous everything drained into. This overtopped the banks and flooded this entire community that surrounds me right now. The water has gone down, looks pretty bad and still difficult to drive n it has gone down considerably where it was yesterday. We had the fullly washer on sunday night. That really caused a mess. Were still getting rain as perhaps you can tell. Not as intense. As long it stays not intense they can keep up with it and well see water come down. Theyre still releasing water out of those reservoirs, and so, that is potential problems. All of this was flooded yesterday. There was no power of any of these buildings around here. At least weve got the bayous down, essentially the drainage system for houston. So that is good news. Look at this, look at water on the streets . Isnt it incredible . Stuart yes it is, jeff flock. That is very good view what it is like driving around in houston this morning. That is a better part of where the flooding is going down. Ashley that is the good part. Stuart that is the good part, if you want to say it like that. The rest of the city is waistdeep. Jeff, stay right there. Well be back to you shortly. Well tell but the price of gas. It is rising at wholesale level. That means you will pay more at the pump, very, very soon. Back in a moment. Rethink whats possible. Rethink your allergy pills. Flonase sensimist allergy relief helps block 6 key inflammatory substances with a gentle mist. Most allergy pills only block one. And 6 is greater than one. Flonase sensimist. From godaddy in fact, 68 of people who have built their. Website using gocentral, did it in under an hour, and you can too. Build a better website in under an hour. With gocentral from godaddy. Stuart modest loss for the stock market this morning. Down 32 points for the dow as we speak. Big tech names always center of attention. Four are higher. Microsoft the only loser. By then only 14 cents. There you have it, state of the market. Now, special guest by phone, Jeremiah Johnson, professor at baptist university, father of five, including three beautiful triplets. Sir, the last time we heard from you were being rescued from your home in houston. Tell us what happened, please. Take us through it. Thanks, stuart, and great to be on your program. I love your show. My wife and i live in for the bend county, the second most populist county next to harris in the houston metroplex. Midnight central time the judge came on said the brazos river, which is longest river running through the state of texas in any state, the brazos will hit 800 year model high. They said we have no models for this. The models that we have are 100, 500year high. The river will hit 59 feet. And it wit shake the integrity of all the levies. They said mandatory evacuation. There is a lot of mixed messages coming out of houston, stuart, which have been disappointing. One, we were told to stay put. As of midnight last night to leave. So weve been hitting some dead ends. I just had to drive the opposite way on a highway just to get back around, and we did make it to 59 west, headed towards el campo, victoria getting out of houston that is the only way out of town. Stuart did you have water coming out of the house . It was coming up to hour home, going into our neighbors home. Yes. Stuart forgive me for asking, how do you cope with five Young Children and triplets . It is our faith in god that is getting us through it. I ask for prayers for houston. Were seeing incredibly brave and heroic people. As i was driving out, there were several trucks with lifeboats driving back in. Were just taking it moment by moment right now, stuart. But it is difficult. Stuart so you drove out. Your evacuation you drove out yourself. Thats correct. Stuart where are you going to . What kind of fa vellets you actually going to . Facilities. They have been sending police doortodoor to leave now, the police say they would hit historic, this would not happen 800 years, by 7 00 p. M. Police are going house to house, telling people to leave. Some are not leaving. Some of our neighbors on our street are not leaving. And, we are, were just trying to get out and hopefully make it to dallas. Stuart you have relatives or friend, colleagues in dallas . We do. We have friend there. We have number of people since i wrote the piece for fox, people we dont even know who reached out to us. Other triplet parents, saying we have cribs, we have formula. Come here. So were good. Were good. Stuart texans are good people, arent they. They really are. They really are. I cant say enough about firstresponders in fort ben county going through. We do need prayer. It is very dire because the rain, im driving through pouring down rain on 59. Im a good aways out of houston. Nowhere to drive in houston. Unfortunately all the websites are not showing all the roads that are closed. They can not keep up with it. Stuart jeremiah, appreciate you being with us in extraordinarily situation. You will have those prayer. Thank you, stuart. Thank you very much. Stuart be well. Thank you. Stuart as you know by now, harvey is having quite an impact on the price of gasoline because it had quite an impact on refineries along the south texas coast. Look at that map. Six major refiners have been shut down. Andy lip who lives in houston, now living temporarily in new york. He joins us this morning. Okay. Here is what we heard. The wholesale price of gasoline such roughly, four 1 2, 5 . That translates 10 to 15cent gallon rise for the rest of us. Now look to the future please. We hear the storm is moving towards port arthur, where there is gigantic refinery, aramco refinery. What happens if that is shut down . What happens to the wholesale price of gas if that shuts . If that beaumont area is taken out, well see additional tencent as gallon rise, that accounts for 8 of the nations capacity. Stuart prices may be up to, 25 cents a gallon. Thats what youre looking at at the moment . Thats right. Already a week ago, the wholesale price of gasoline into the pipeline in houston is up 30 cents a gallon. Stuart that is still to come for motorists at the pump a little way down the road but what about the actually supply of it . Will we see gas stations in various parts of the country run out of gas . We might actually see that in the southeast and mid ad lan take because those are the states that are supplied from the gulf coast. But if youre in new england, new york, pennsylvania, you really dont have to worry about supply because it is coming from other locations. Stuart carolinas, georgia, Midatlantic States primarily at risk . Exactly. Stuart that is where the pipeline goes from houston directly to those states, correct . Thats right. The Colonial Pipeline which delivers 2. 3 Million Barrels a day barrels of gasoline up through houston, washington, d. C. , baltimore, that is the one were concerned about if we continue to get rain, pump stations flood, lose power, there is no supply of that system. Stuart it would be understandable if youre a driver, a motorist, a car owner, in those states, to get out now and gas up . It would be understandable, would it not . It certainly would but i would not recommend it, because right now those pipelines are operating. And so i think you should do what you would do normally. Stuart wait a minute. That pipeline is operating . It is still operating right now. It hasnt shut down. Weve had another pipeline, the magellan pipeline system, that feeds dallas and oklahoma and west texas, that has shut down in the houston area grid but two other main trunk lines leaving houston, theyre still operating. Stuart but they are unthreat . They are under threat. There is no doubt, if the Weather Forecast would approve right, we got another 16 inches of rain i would particularly be concerned where the pump stations are and incurring some flooding, the damage already been done, regardless what happens in the future, damage already done, how long does it take to repair damage already done . So refineries in Corpus Christie were looking upwards of two weeks. They sustained some wind damage. In the houston area we might be fortunate if those locations did not flood but it will still take them one to two weeks to get back to full operations. Stuart now, you live in houston. That is where your house is. I am sure you checked up on it through the neighbors. What is your situation . Ive been very fortunate right now. There was a lot of water in the street, a number of floodedout cars but as far as water reaching the house that hasnt happened yet. Stuart you put your finger on the problem. Flooded out cars. There will be thousands of flooded out cars. Car insurers will be interesting question mark if im not mistaken. Ashley a lot of claims. Stuart staying in new york for a while . Im staying here until the airports reopen and feeder roads on the freeways have gotten rid of their water. Stuart youre here for a while. Yeah. Stuart andy, thank you very much. Thanks again for having me. Stuart youre welcome, young man, youre welcome. I say the government response to harvey is test for President Trump. Joining me fox news mediabuzz host howard kurtz. Howard, its a test for the president. The left, the media will look for any chink in his armor, any mistake he might make. You agree . If he makes a mistake or doesnt set the right tone or screw ups with fema that is fair for criticism. Stuart, every story ive seen, all the major media outlets, underlying assumption trump has no government experience, doesnt have any experience with hurricane and good chance he will screw up but that hasnt happened. Stuart he has general kelly who was in Homeland Security and ran fema. He is general, knows how to marshall military assets, orders a squadron of helicopters. The people surrounding the president are the right people at this point . Well find out. You make the point there are a lot of generals at top of the administration. The unprecedented nature of torrential rains and flooding is overwhelming authorities, this will play out. President trump goes to texas tomorrow. Not hardhit houston area, someplace else to show compassion for people in the state after this incredible debacle, this incredible damage still playing out. Avoiding the symbolic mistake of george w. Bush who flew over new orleans after caterpillar. I dont think you will see katrina. I dont think they will say he passed test. More interesting for the media saying he will do it. Stuart there will be question of money. Well spend billions of dollars. It will be federal money. That money is not in the budget they have to have before the end of september. I think you will see a question about money, where is it going to come from. I think there will be critical questions asked in the media of this president. Yeah. That is the real test, is can the president , who had difficulties with both parties on capitol hill, pull together a rescue package, because there is always debates about why should all this money go to one state . Will there be offsetting budget cuts. Can he pull that off to deal with the obvious needs that will go on for years, so many people being displaced. Damage to homes and businesses. That is a fair test for the media to keep an eye on, even after the floodwaters receded. Most of the press moved on from the damage in houston and surrounding area. Stuart i have to tell you, howard, as i look into the camera right here, off to my left, i have monitor screens on all other channels. A couple of them have devoted quite a lot of space to houston. I got that. A lot of space to friday night pardoning of sheriff arpaio. It seems pejorative covering by the media anxious to get back to any negative they can place on President Trump. Look it was controversial pardon. I dont begrudge people for covering it. People saying wow, putting it out on friday night when hurricane hitting texas was way of burying it. It didnt work. I get your point many in the media would like so go back to normal political sniping. While i think that is legitimate story, maybe we could tone it down a couple days while our hearts and prayers are with people suffering in south texas. Stuart yes indeed. Howard, thanks for joining us. Appreciate it. Check this out please, texas star j. J. Watts launching a fundraiser to help victims of flooding in houston with a you caring account, donating 100,000 of his own money. He raised almost 400,000. Very quickly. Coming up, President Trump heads to the region tomorrow hoping it is not his katrina moment. The first lady will be there too. Ab were all over this one. Yeah. The world of fast food is being changed by faster networks. Data, applications, customer experience. Which is why comcast business delivers Consistent Network Performance and speed across all your locations. Fast connections everywhere. Thats how you outmaneuver. Ashley President Trump is due to start his barnstorming tour for tax cuts on wednesday, but is the timing too soon after Hurricane Harvey . Art laffer, former reagan economist, says a tax cut is what texas needs right now. Roll tape. There is nothing i can add to the analysis of devastation that has been caused but what i would say, when you want to look at recovery, stuart, the last thing you want to do is raise taxes during this recovery. This is the perfect, the perfect reason why we need a Corporate Tax rate reduction and personal individual tax rate reductions. You can not tax an economy into prosperity. When you look at texas and the devastation, cutting tax rates would accelerate the Recovery Efforts dramatically. It would bring resources elsewhere in the nation to make it happen. I think even a temporary tax cut would be an enormously beneficial thing for theli accelerating the recovery here. Its time to shake things up. With the capital one venture card, you get double miles on everything you buy, not just airline purchases. Seriously, think of all the things you buy. Great. Is this why you asked me to coffee . Well yeah. But also to catchup. Whats in your wallet . Stuart modest loss. Monday american morning after the hurricane in houston. President is checking on harvey Recovery Efforts very early in the session. Joining us rnc spokesperson, kate at this mcinerney. Do you think it is too soon for the president to go into the middle of all of this. We trust the white house. President trump has great judgment. He gave a measured response. On one hand he said i dont want to go interfere but on other hand i want to go as soon as possible for the president to be there. Stuart you think the good idea he goes, taking first lady with him . Absolutely. This is great idea. It is important to have the leader of country say, america stands behind texas, and he will not not put resources out there, its a political test for the president , how does he handle the first major disaster. Also a test for the authorities in texas. Its a republican state. Theyre faced with this catastrophe in the fourth largest city in america. How do you think the authorities in texas, the republicans in texas are doing so far you . Represented the Republican Party . Im sure youre going to say theyre doing just fine . Theyre doing great. Governor abbott is out there. Warning people to get out of harms way. Deploying tons and tons of resources badlyneeded in consultation with the president and in consultation with the fema. This is very great response were seeing. Our heart goes out to texas were seeing. Stuart the media wants to make this katrina ii. The media wants to put a negative spin. We have to stand united. Images are horrible. We have to stand united as a country. Stuart theyre inspiring to some degree, youre seeing a community, tough texans coming together to get it done. I like to see. This is inspiring. I think the Faith Community. Rick perry is saying Faith Community is indispensable to response in texas. They step up. Franklin graham is out there with samaritans purse. The Faith Community is important. Stuart change gears for a second, secretary of state Rex Tillerson raised a few eyebrows with a comment he made about President Trump. Roll that tape please. I dont believe anyone doubts the american peoples values or the commitment of the American Government other the governments agencies to advancing those values and defending those values. And the president s values . The president speaks for himself, chris. Are you separating yourself from that, sir. Ive spoken, i made my own comments as to our values as well in a speech i gave to the state department this past week. Stuart kaley that does appear the secretary of state is putting distance between himself and the president where hate speech or charlottesville statements are concerned. Look i dont speak for the state department or white house but i will say this, the Republican Party, our chairwoman said we denounce hate categorically. I encourage everyone to look at facts President Trump, 2016, he denounced White Supremacy and hate groups on february 26th, february 28th. November 2nd. Monday and tuesday after charlottesville. Consistently denounced hate. It is important for the party to stand behind the president to denounce hate with him. Stuart secretary tillerson has lunch with the president and Vice President today. Is this mending faces or clearing up the position. Who knows what the lunch is about. North korea still shooting off missiles. There are some Foreign Policy crises out there. It is important that the gop stand unified with our president. Stuart how do you like the new job. I love it. I get to sit here with you. Stuart thank you. Kaley, thank you very much for joining us. Thank you. Stuart thank you. Thousands of people, this is nice place to be stranded, thousands of people are stranded on cruise ships because of harvey. I guess that is okay. Ashley unless you are seasick the nightmare goes on. Four cruise ships are hovering around the gulf coast. All four ports are closed. Houston, galveston, texas city, freeport, and can Corpus Christie. The airport reopened as we heard they dodged a bullet from the congressman. One is back to miami. Liberty of the seas has about 20,000 passengers currently bobbing around in the gulf trying to get back on land. Here is the problem. Say they could land in gavleston. Their cars are in the car park which we know are okay but all the roads are blocked. Best go to miami to hang out in a hotel until they get out. Stuart what a difficult situation. You cant dock. You can get to your car but you cant drive the car anywhere. Ashley you cant get anywhere. Stuart that is extraordinary. Liz might as well stay at sea. Stuart tell me are we expecting yes. The mayor of houston will shortly, very soon be making a statement about the situation in houston. Specifically about the controlled release of more water, to safeguard the dams. That controlled release is going to be made. It will raise the water level in parts of houston. Well get the mayors statement on that very shortly. Were also going to bring back janice dean who is remarkably accurate her predictions what kind of rainfall harvey would deliver to south texas. She will be back with us momentarily. [brother] any last words . [boy] karma, danny. Karma [vo] progress is seizing the moment. 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Things i want to address this morning in terms of just kind of bringing, bringing everyone uptodate, i first want to start off by talking about the rescues, because thats number one priority, is getting to the people in city of houston who may remain in their homes in stressful situations. We want to get to them today. Thats our goal is to try to reach everyone today and get them out of a stressful situations. So, let me, i just want to go directly to it this morning. I know everybody is doing a lot of things. This will be a very busy day. Chief, start us off and give us a report where things are at. Yes, sir. Thank you, mayor. Good morning, everybody, so the Houston Fire Department to date in the last 24 hours we responded to over 5500 calls for service. Over 4,000 of those calls have been waterrelated incidents. The Houston Fire Department, in cooperation with the Police Department and our partners in this effort have, effected over 290 water rescues since midnight last night. So it is still a very dangerous situation out there. Were expecting more rain. Were expecting to really, the demand for our services is going to increase. We still have pending calls that we are trying to get to. We do have resources on scene now, state and federal resources. We have texas force one, and also have fema on board. We have 350 additional personnel. Were expecting another 350 in the next 24 to 48 hours which will really assist our ability and change our response profile to be able to meet the demand. Were asking the public, again, the roads are dangerous. Stay out of the roads if you dont need to be out driving around or walking around. It is very difficult to assess the road conditions. Just a little bit of water covering the roads, we dont know what impact the rain has had washing away the roads. That causes a lot of hazards. So please, if you dont have to be on the road, we recommend thaw stay indoors, that is going to be the safest, the safest thing to do. Call 911 if you need assistance, okay . 311 is another avenue if you cant get through. What we recommend is that, when you call 911, stay on the line. Dont hang up because this just creates more calls. It creates more work because our dispatchers are now calling back these numbers. So if you call 911, stay on the line and we will address your issue. Thanks. Thanks. So from midnight to where we are today, the Fire Department has rescued about 290. We fully recognize there are many other people that are out there in stressful situations and we intend to get everyone of them. Will have someone specifically talk about 911 in a few minutes. But i want to focus on the rescue portion. Thank you, mayor. Houston Police Department in tactical alert posture with officers working minimum 12 hour shifts. Were handling 6,000 calls for 911 Services Since the operational period began at 6 00 p. M. On friday. To date we have completed the rescue of 2000 houstonians, members of our community. As of this moment, at this press conference we have approximately 185 critical rescue requests still pending. Our goal today with our partners at the Fire Department, and our other partners coming in from around the state and country, is to complete rescues of all Critical Missions today. Because of weather and lighting conditions, we can not use our boats at night. Most of the boats dont have lights. They should be on the water right now. Last thing i want to mention in terms of Public Safety emergency, is the looting situation. We had four people that tried to loot and they were arrested. After these events, frequently, once especially once the Natural Disaster piece of it is active floods going on, folks move in from other states, even other cities and other regions to come in and loot and create problems. I can tell you that we do have everyone of our officers deployed and we have Police Officers from throughout the state of texas that are on their way. To actually augment our police force. Well have plenty of resources. One thing you can assure, if you try to commit a criminal offense, especially taking advantage of our citizens victimized enough by Mother Nature, be assured you will be arrested. Lastly, a lot of cars, many, many cars have been towed throughout the city and if you want to know where your car is at, even though i can tell you it should not be your priority to drive somewhere to find your car, because the weather emergency continues and threat from the weather continues you can find out if it has been towed at findmytowed or call 7133088580. 7133088580. And lastly, i just want to on behalf of all of us, express our, just the way we feel about our community. A lot of people are us frustrat, unfortunately, trucks can only go so far in moving water, even those big trucks. And so hopefully, today well get to the rest of you. Please, dont give up on us, and none of us are going to give u. Thats our give up. Thats our goal, mayor. And the goal is rescue, and that thats the major focus of the day. Thats my directive, everyone focus on getting people where they are and getting them out of their homes or whatever their stressful situation may be. And many that regard in that regard, we have more assets that were working with today than we had yesterday, and there are more assets that are on the way. There are some that are still being slowed down because the streets were impassable, and at the same time there are a lot of assistance thats coming from outside of the city. Certainly, again, i want to thank mayor martin walsh out of boston, because hes serving down some highwater rescue equipment and vehicles, and i thank him for that. Hes also providing clothes and other things that are needed for people in our shelters. I thank him for that as well as some of the additional assistance. And thats coming from many of the mayors as well. But in terms of reaching us, 911. I know there have been a number of observations made about 911, and so i want joe lord to come and give us a status report on where we are, because were stuart Important Information just released by the mayor, the police chief and also the fire chief. 2,000 people already rescued. Rescue operations are underway, and 2,000 have successfully been brought out. There are 185 critical rescue requests which are pending. And other news just from this news conference, four people have been arrested for attempted looting. Thats the situation as just reported by the authorities in houston. Stuart lets be clear. Houston is a human story. Throughout the program we have brought you dramatic video of rescues, raging torrents down streets and texans coming together to cope. Frankly, we found it inspiring. If this is how america deals with catastrophe, we can all take heart. It is also a financial story. In short, the price and availability of gasoline is at stake. Heres the news. The refineries along the south texas coast are shutting down. 15 of Refining Capacity is out, and now the largest refinery in the country in port arthur, texas, is also threatened. Some pipelines that move the gas north are also out. Result . The wholesale price of gasoline is up roughly 35 . That translates into a 1015 sent pergallon price rise at pump. It could be more than that. But heres the immediate question will drivers around the country do now what they did after katrina; that is, head immediately to the pump to gas up every vehicle they have . It will be understandable, but it would bring back ugly memories of katrina. This is the morning after the dreadful weekend deluge. Far too early to assess the full extent of the damage. The cost of rebuilding or where the money is going to come from. Well tell you about gas prices, and well tell you about gas lines if we see them. But right now its all about rescue, courage. Its about facing disaster when it comes right at you. The third hour of Varney Company is about to begin with. Wow, look at this. Stuart lets get right to houston. Jeff flock is in the middle of it. Where are you, whats happening to you right now, jeff flock . Reporter i just heard the mayor and Law Enforcement talk about looting. Well, take a look at this, this is a valero gas station right here in houston on the southwest side, and look at this. This is what just took place. The Cash Register looted, obviously, somebody busted in here in the midst of the flood because this was underwater. They got in here and look what they did. Obviously, the storm did some damage, but they busted the window out. Look at this, glass all over the floor out here. I dont know if you can see it, lori. This is what theyre talking about, people taking advantage when this happens. An event like this happens. And heres the other headline for you, stuart. You know, we talked about the water going down, and it has in some areas, but were really getting deluged again, and thats the thing. I mean, look, the water is still here. It is going down. Look at the swirl there. You can see the swirl. Theres a drain down there, so its beginning to drain out. But i tell you, weve still got plenty more coming from above. And if that continues to happen, i dont know, its not a good situation, ill tell you that. Stuart jeff, im going to interrupt you to tell us our own janice dean, meteorologist with fox news and also on this program, she is saying that that storm hovers, stays around for another three to four days. Youve not seen the last of it where you are until the very end of this week. Not good news, jeff. Last word to you. Reporter and i leave you with this. This flood water, it sometimes looks pretty. Look whats in it. Thats oil, gasoline, theres human you know what in there. The flood water stuart right. Reporter whether it stays up, goes down, its a mess either way. Stuart this is a tough report. Thank you very much, indeed, jeff flock. All right, im going to show you whats happening on the markets. No response to harvey at all on the stock market, certainly not for the overall averages. The dow is down 14. Youve got a pretty even submit between winners and losers split between winners and losers. The dow would actually be positive if it were not for travelers, the Insurance Company, which is taking about which is sharply lower. Yeah. Stuart and which is talking roughly 23 points off the dow. Were it not for travelers, you would have a neutral, a totally neutral market at this stage. Herb london is with us, president of the London Center for policy research. The market, the stock market not reacting at all to this. How do you explain that . Well, again, youve seen a market thats impervious to many shocks, but i think we have to look at what will happen over the next four or five days. The Hospitality Industry will undoubtedly be affected. There are a number of industries that will be adversely affected. How much of an effect on the total market remains to be seen. By and large, youve seen the market as very malleable and extraordinarily flexible. Very, very different from markets weve encountered in the past. Stuart frankly, herb, i feel almost accuracy to look at the stock market, oh, whats the impact of harvey. I think thats almost a accuracy statement to make, and i wish i didnt have to do it, but nonetheless, there is no response on the stock market. But there is a response on the oil market. The price of oil is way down. Yeah. Stuart i wasnt expecting that. Look at that, 46 a barrel, down 1. 15. You want to explain that one . Well, again, what youre going to see after three or four days is the extent to which the refineries are affected. Youll start to see the price manage to go up. It will go up, theres no doubt. But its a question of how much it will go up and how many of the refineries will be affected. At this moment, its impossible to determine that. Stuart thats very true. Now, the president and the first lady will visit texas tomorrow. What do you make of that . Because here were delving into the politics of harvey. Nobody wants to make it look like a katrina ii, and the president is trying to avoid that, but does he encourage that view by going there . No, i dont think so. I think the president is displaying a certain kind of humanitarian concern, and i think its valid for the president to be there. Hes prosaiding the kind of providing the kind of leadership that texans need. Its remarkable to see how theyve galvanized in order to assist people in jeopardy. Ive seen pictures of people in assisted living facilities, in old age homes where, in fact, youve had young men going in there, carrying them out. Its a remarkable story, a story of her row women. When heroism. Youll have the say the people of texas responded in a quite remarkable way. Stuart absolutely. And i hate to have to report that isolated so far incident of looting that jeff flock just reported in that gas station right there in the middle of it all. Thats a dreadful stain on the overall story, but we should not dismiss the courage and unity of texans at this moment. Herb, thank you very much for joining us. Pleasure to be with you, as always. Stuart now, im staying on hurricane Tropical Storm harvey, of course. The storm has shut down half a dozen Oil Refineries right there on the gulf, and theres the map of the ones that have been closed. Stephen schork of the schork report to joins us this Morning Report joins us this morning. This could get worse, couldnt it . Port arthur, down goes the aramco refinery, and also if it moves east towards new orleans and towards louisiana, it also gets worse for the refineries. Give me the longterm picture. If we knock out these refineries and pipelines, how much does the price of gas go up to us drivers at the pump . Well, as you accurately reported before, weve seen about a 1520 cent pop in gasoline prices. If we go past history, for instance, 2008 with ike and gustav, hurricanes katrina and rita in 2005, certainly we could see a doubling of those prices, so another 1520 cents on top of that stuart now thats wait a second. Youre telling us you seen that price rise at the wholesale level, right . I want to know when does it hit the pump, when do i have to start paying those prices and all of our viewers . Well, its all going to depend on once the shortages begin to show up at your local gasoline station. So right now were still trying to ascertain the extent and the duration. Is so right now one out of every three barrels of Refining Capacity was in the path of harvey. Half of that production or half of that Refining Capacity is already out. To your point, if that still continues to move towards louisiana, then when we add in the refineries along the louisiana coast, were talking about four out of every seven barrels of Refining Capacity. Thats going to be a significant shortage in gasoline supplies going forward. So to answer your question with regard the how high, how soon, youll start to see it in the weeks ahead. One week i would say at a minimum. But we also have to keep in mind what time of the year were at right now. Theres going to be the issue of the switchover towards a winter grade gasoline which is cheaper to manufacture. But once again, if you dont have the refineries up and running, youre not going to manufacture the gasoline regardless of the spec. So youre certainly looking at a situation where we could be going into the fall paying considerably higher. Stuart, lets all keep in mind that gasoline prices historically adjusted for inflation are extremely low. Stuart sure. So any pop we do see will be muted, and we also have to keep in mind this is economics 101. High prices are the best cure for high prices. So we will see a significant pop in price, but theres going to be plenty of gasoline floating out there especiallying in from europe thats going to close that arbitrage opportunity and get oil and get gasoline to the market in a prompt manner. Stuart heres something that surprised me. Weve not yet, to my knowledge, not yet seen lines at the pump in the Midatlantic States. We did after katrina. People just jumped right out there and filled up every tank that they got, every vehicle theyve got. So far weve not seen that in, as again, in the Midatlantic States. Do you expect it . Well, lets see, the biggest difference between now and katrina was on the friday afternoon of katrina, katrina ma made landfall on sunday, everyone was expecting, every meteorologist thought that storm was going into the florida panhandle. That storm took a significant turn on that saturday, so it really caught the market and the industry with its pants down. We knew for over a week now where this storm was heading, so the issue of offshore production, onshore production, inland production had prompt warning, and the industry instituted their emergency protocols in a timely fashion. So they shut down in a very timely fashion. So now we just have to wait and see over the next couple of days, does this water reseed and how quickly can we get this recede, and how quickly can we get production back online. We still have plenty of gasoline and diesel fuel in the tanks at this point, so there is no pan pick right now. And were also, keep in mind, at the end of the season. Once we get through this weekend, the labor day weekend, demand begins to fall off in a precipitous manner. Stuart okay, we hear you. Stephen schork, as always, thanks for joining us. Thank you, stuart. Stuart President Trump and the first lady are expected to visit texas tomorrow. Dont know exactly where they will visit, but theyre going to texas. Joining us now is the blaze host, dana loesch. Dana, this could be this is a test, a political test for the president. Is he in charge yes. Stuart how does he look as he is in charge. He really wants to not go anywhere near another katrina moment, right . Right. Right. No, i completely agree with you, stuart. I completely agree with you in that i do think that this is i think the president s doing a great job thus far. Hes been accessible, he has i know hes been talking with governor greg abbott. Hes going to visit the state of texas on tuesday. From what i understand and, of course, im not privy to all of the everyday discussions in the governor oohs office, but from what i understand the president is going to be visiting outside of houston, although not going to houston proper because as we understand, were still dealing with a lot of flooding, we are still dealing with evacuations. So think hes going to the part of texas where Hurricane Harvey first made landfall. First off, i know we saw a lot of violence over the weekend, and thats a completely separate issue. But can i point out to everything thats been happening in south texas, everything thats been happening in houston and the surrounding areas, that is america. That is who americans are. That is what makes America Great, the help of fellow americans assisting nursing homes, children and families getting out of rising flood waters. I also read a story this morning where the Louisiana Cajun Navy is making its way to houston also. These are just a great bunch of citizens helping out Everyday Americans, and theyre coming to texas to assist. That, stuart, is who america is. Stuart yes, yes and yes again. That is extremely valid point. We should point that out. These are the great people of texas, stalwart in the face of a catastrophe. What a contrast between the fighting that we saw on the part of the left, the violence that we saw as they attacked protrump demonstrators in berkeley, california. Which is the real america . Which is the america that we are part of, dana . Ive got an answer, and im sure you do too. I do too, and its what were seeing in texas, stuart. That is the real america. People who arent covering their faces with black blindfolds, people who arent putting kerr chiefs on their held and dressing up in hot topic black hoodies. No, the people who are making America Great and the people who really just exemplify everything that is awesome about everything are the Everyday Americans that are helping out in texas whether its theyre donating, whether they are driving, helping load up and pack up food and water to take down to houstonarea residents or whether theyre coming from louisiana as part of the cajun navy with their flat boats so that they can help our First Responders navigate through the rising flood waters and save residents that are trapped. That is who america is. Stuart youre in dallas, i believe, at this moment, and thats a few hours, a few hundred miles from houston. Whats the mood in dallas . Come together, support our guys in houston . Well, absolutely. Absolutely. Were out of the flood zone. Were in north texas, and as you said, a few hours away. But its still rainy and overcast, obviously. But thats the mood in dallas. And also from all my listeners from my Radio Program all across the country, that is what im hearing from not just people around me in texas, but also elsewhere in the country. They just want to band together and help out houston residents. Thats what they want to do, they want to help. They dont want to fight and participate in the stuff weve seen in berkeley. They want to get it together and go and help those people who are in need. Stuart well said, dana loesch. What a pleasure it is to have you on the show. Congratulations. Youre a welcome guest. Always, stuart. Stuart thank you, dana. Thank you. Stuart all right. The markets show a 17point drop for the dow industrials. That is not exactly a selloff in the face of harvey now, is it . Next, janice dean give us us an update on what to expect. When will this rain stop . Dont hold your breath, is the message. Holding us back. We jumped on an ice machine and floated to them and got off and tried to help them. 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We are praying for all of our fellow houstonians and texans affected by harvey and truly inspired by the flotilla of volunteers. Points of light, all, who are answering the call to help their neighbors. We salute them. There you go. Fine statement. I want the latest on the path of Tropical Storm harvey. For that, we always go to fox news meteorologist janice dean. Janice, i am told that this flood in houston doesnt crest until wednesday or thursday of this week. Is that accurate . Reporter well, it depends on which area youre talking about, but certainly the waters going to continue to rise well into the workweek, and sometimes it takes a little bit of time even after the rains for it to crest and then eventually come down can. Its going to take weeks, weeks if not months in some areas to get the water levels to where they were before this storm hit. But look at some of these are some of the recent totals. So baytown, east of houston, still in the Harris County, close to 35 inches of rain, 30 inches in pasadena. Houston hobby, two feet of rain will. Sugarland, almost 25 inches there. This rain is ongoing. Till seeing rain in the houston area. And as long as this system, the area of low pressure, the center of it, is west or south of houston, youre still going to get those outer bands. This is still a Tropical Storm, by the way. Youre still going to see the potential for all of that gulf moisture to work its way in. Then we also have the tornado threat. We had close to 200 reports of tornadoes in and around the houston area this weekend. Luckily, we dont have any tornadowarmed storms, but look at that. See the yellows and reds you see on your screen . Thats heavy rainfall now moving into houston again, this morning, this afternoon another slug of moisture, even this evening as well. And you can see that, you know, the counterclockwise spin, were expecting the center of the some to move over the gulf of mexico, and we could bump up those winds again. But we dont think the winds are going to be the issue. It is, again, the rainfall. But we could actually see a third landfall from this tropical system around Galveston Area over the next 48 hours. So watching that, i mean, you know, the damage is already done, its just a matter of how much more can they take, and they cant take any more. River gauges, obviously, major flooding east of the houston area as well as southwest. And not just houston. I have to make mention, all of our friends in baytown and galveston, bay city, these areas are all being inundated. And the flash flooding now has moved eastward into louisiana. So watching louisiana carefully over the next few hours as well. This is the latest computer model. How much more rain are we going to see . Anywhere from, you know, 10 inches to a foot to potentially two feet in additional rainfall for this already historic region of storm, you know, storm flooding. Stuart janice, let me interrupt for a second because it was last thursday at 11 30 eastern time that you came on our air and surprised us all with the possibility of 25 inches of rain in houston. Finish that caught our attention. You were right. And youre now saying that there could be, could be another two feet of rain on top of that in some parts of this area. Reporter it is, there is the potential for that. Yes, stuart. And i have to say, the National Weather service, the National Hurricane center are the ones that we have to, you know, salute, because they are the ones that gave us those rainfall totals. We looked at them and said this cant be happening. Stuart right. Reporter but everything did verify and, unfortunately, you know, the worsts Case Scenario is unfolding for houston. Stuart more rain than any other storm in American History. Reporter yes. Stuart extraordinary. Janice, thank you very much, indeed. Reporter youre welcome. Stuart the markets showing no reaction to this storm other than a modest drop for the price of stocks, down 22 points. Its the price of gasoline that is going up. Next, the attorney general of great state of texas. Stuart it is 11 30 eastern time right here in new york city, and let me remind everyone that the catastrophe in houston is a very human story. And currently, the story is all about rescue and recovery. We bring you news from the stock market because, you know, there is a financial angle to the storm, but its not to be found in the stock market. The overall average is down a mere 22 points. I will tell you that travelers, which is an Insurance Company, is down big. It is a dow stock. And that accounts for 20 points of the dows downside move. Now, there are some stocks which we call hurricane stocks. Generac, for example, thats a generator company. Its actually down this morning. But home depot and lowes they supply the home equipment, you know, to resupply homes which have been damaged they are up, and nicely so too. The airlines, you can expect them to be down, especially United Continental. It has a major hub in houston. That airport is closed, and that stock is down about 1 along with with most of the other airlines at this point. The oil drillers, where are they this morning . I tell you now, they are down, not by much, but they are down this morning. And the price of oil . Youd expect it to go up . Wrong. It is down this morning, down significantly, 2. 5 at 46 a barrel. The problem is not oil, the problem is refined gasoline. And thats why we bring in to our next guest, because the price of gas is expected to spike. Its spiking already at the wholesale level as those refineries cut down. Patrick dehaan is with us, Senior Oil Analyst at gasbuddy and an old friend of the program. Where exactly right now, patrick, are we seeing a gas price spike somewhere . Well, were starting to see it in the gulf coast, but its only a matter of time before the ripple effects start to be felt throughout the country. The midwest will likely see a big increase tomorrow, seeing prices jump 2030 cents a gallon at a time. The epicenter is going to be the gulf coast, make no mistake. Stuart and were talking right now, today in the gulf coast region, were talking about, what, 1015 cents per gallon extra at the pump . Is that accurate . Well, were seeing that at some stations. Keep in mind some dont even have power or fuel, so thats the big eshoo there. But, yes, youll start to see that even more so tonight into tomorrow, and thats because of what youre pointing out is going on with the market. Oil down, but gasoline is up big simply because 16 of all u. S. Capacity right now is down. Stuart okay. Now, do you expect okay. We talked about 1015 cents per gallon up in the immediate future. If this refinery outage continues or extends, and it may, do we then look at a price gain bigger than 1015 cents per gallon at the pump . I think thats certainly within the realm of possibility. I think the market is expecting these refineries to be back online within the next three weeks. If anything goes above and beyond that three weeks, youll start to see future ands spot prices reacting more vigorously. So i think theres more of a risk of further upside than there is for prices to go up a more modest amount. Stuart okay. Is this a bit like katrina . You know, it is to a degree. I mean, you have a major storm wreaking havoc on an area of, you know, the gulf coast, but it isnt in the fact that weve come so far. Oil infrastructure is not quite as delicate with katrina with the exception being refiners, but the problem here is really only limited to water, not tremendous amounts of damage to oil rigs. Stuart last one real fast, am i going to see a price spike in the Midatlantic States which are supplied by that pipeline that comes out of houston which has not yet been closed . I think youll see a bit of a price impact. I dont know if id yet classify it as a spike, but thats still within the realm of possibility as we get damage assessments back from the gulf. Stuart patrick dehaan, always a pleasure. Thanks for joining us, sir, thank you. My pleasure. Stuart lets bring in fox news Political Editor Chris Stirewalt who is with us this morning. Chris, the president is going with the first lady to texas. At this point, not exactly sure where. Okay. Stuart hes taking a Political Risk by going, is he not . Well, we remember he made hay out of the fact that barack obama didnt go to louisiana last year. Stuart true. When the hurricane hit louisiana and obama said im going to stay away because i dont want to disrupt the process, i dont want to be a distraction to what theyre doing. And trump capitalized on that. He and pence went down, did the photo op to, handed out some boxes, and it probably helped trump. In this case, the role is reversed. If doesnt go, democrats will say that he is wicked, a terrible man for not going, but if he does go, theyll say hes awful for going. Because when he goes, theyll say, well, youre distracting from muchneeded resources stuart but if he goes to an area not immediately affected and not still under a rescue and recovery operation right. Stuart if he goes to an area like that, he could actually win politically by going, showing that hes in charge and handing out the goodies as a president can. I think people have overlearned the lesson if there is the greatest overlearned lesson in american politics over the last 50 years, its the katrina effect. Stuart yeah. Its been 12 years, and people are still obsessed about katrina because where and when it happened in george bushs presidency. It was you will not forgive me for saying this the perfect storm. Iraq was going the wrong way, people were resentful and katrina happens. This isnt that. And trump is going to be fine stuart but hes wildly unpopular in the media. The media will look for anything, anything at all. Its safe for him to assume that the coverage of anything he does will be mostly negative, so he can just bake that into the cake. Stuart stay there for a second, please. Ive got fred barnes with us, i think joining us from washington. Fred yes. Stuart the question is could President Trump win politically, gain ground politically by going down there tomorrow and not being part of the mess, just standing apart from it . Well, i think he can. Certainly, hes avoided the worst thing, and chris mentioned it, and that is obama not going. You have to go. And this is, you know, the biggest Natural Disaster in texas that ive ever heard of in my lifetime, and so he needs to go. And he needs to go there and go in, in thecity, go into places that are flooded, not just stand back and having something to say. Look, i mean, he has this infrastructure agenda. There are obviously a lot of things that could have been done infrastructure wise in houston that would have mitigated a little bit at least the effect of this horrible hurricane. You know, look, its a great Natural Disaster. You cant stop the weather, but there are things you can do, and he better have them at his fingertips. Stuart fred, it is also a political test of the authorities in texas which is a very republican state. How do you think theyre doing so farsome. Well, i think, look, trump is popular in texas, and he benefits from one thing that george w. Bush didnt have. Bush was dealing with a totally incompetent governor of louisiana and a crooked mayor of new orleans who subsequently went to jail. [laughter] trump is very lucky to have greg abbott as the governor, very capable, very strongminded guy whos always done a lot of things in bringing out the National Guard and so on. And theres a lot more that can be done, but just having a competent governor is a big help. Stuart chris, texas, republicans looking good at the moment . Yeah, i think everybodys executing so far. As fred points out, back in the day with ray nagin, that was not only a botch on the state and local level, but there was hostility between the locals and the feds because of the party split. In this case, everybodys singing out of the same hymnal, theyre all happy. Stuart so far would your judgment be that things are going quite well in terms of the catastrophe in houston for the republican authorities in texas and the republican president . Yeah. Everybodys doing what theyre supposed to do stuart so far, so good. Theyre meeting the usda requirement for disaster relief. Stuart fred barnes, you would agree with that . Yeah, i would. It actually looks pretty good, but its not over yet. There could be a lot more water stuart we should remember that, actually. Janice dean has been on this program, our own meteorologist. Shes talking about maybe, maybe another two feet of rain in the alreadydrenched area with 30 inches of rain. So youre quite right. So far, so good, but maybe the worst, maybe, is still to to co. And theyve still got to deal with the worst at this point. Fred . Yeah. This can be a big trump a big boost for trump. Maybe a medium boost for trump if he does the right thing. The one thing he cant do is what he did in phoenix last tuesday. Rather than just concentrate on his very correct policy in afghanistan that he Just Announced the day before, but he has to stay on the issue of the hurricane and the suffering that the people in houston are undergoing and what hes going to do about it. If he gets distracted and talks about the press and about republican senators he doesnt like [laughter] that will ruin the whole thing. Stuart youre looking at a live picture right now. Looks to me like a rescue or certainly an evacuation going on right there in la grange, texas. Coming to us from ktvc. That was happening live. Last word to you, please, on trump staying on message tomorrow. Yeah. The huge issue for trump and his administration is at a moment like this if he seems callous, if he seems that he is indifferent to the suffering of americans and focused on his own petty political grievances stuart well said. Chris, this is the first time you and i have ever shaken hands. I mean, this is good stuff, this is the good stuff. Im part of the club now. Yes. [laughter] stuart fred barnes, welcome. Youve got to get up here as well. Ive never shaken your hand, did you know that . Get up here, please. [laughter] thank you both very much for being with us. What was that, fred . What were you going to say . I was just going to say, stuart, you and i have shaken hands many times. Stuart okay. [laughter] im terribly sorry, fred. Very memorable moment. Stuart at my age, you forget things, okay . [laughter] its a senior moment, what can i say . Youre all right, fred, and youll be back to shake hands again. All right, were going to take you live to one of the reservoirs that theyre going to let some water out of it which may lead to some more flooding in parts of houston. Were going to take you there. This will be video you havent seen anywhere as of yet. Well show it to you. Also, top of the hour we showed you this video of looting at a gas station near houston. The attorney general of texas on that next. Potsch you each drive a ford pickup, right . in unison russ, leland, gary yes. Gary i have a ford f150. Michael ive always been a ford guy. Potsch then i have a real treat for you today. Michael awesome. Potsch im going to show you a next generation pickup. Michael lets do this. Potsch this new truck now has a cornerstep built right into the bumper. Gary super cool. Potsch the bed is made of highstrength steel, which is less susceptible to punctures than aluminum. Jim aluminum is great for a lot of things, but maybe not the bed of a truck. Potsch and best of all, this new truck is actually gary all laughing oh my. Potsch the current chevy silverado. Gary im speechless. Gary this puts my ford truck to shame. James ill tell you, i might be a chevy guy now. laughing im Nicole Petallides with your fox business brief. Taking a look at Market Reaction now. Dow down 25 points this morning after the biggest storm in 50 years, state of texas. Right now the dows down 25, the s ps down fractionally. Taking a look now, though, at how much water has a fallen, and we know that the rainfall will continue. So far the rain that has fallen in the houston area, Southeast Texas, nine trillion gallons. And thats only whats come down through noon on sunday. Keep to mind 510 trillion additional gallons could fall before things wrap up by the end of the week. Thats enough to fill the entire Great Salt Lake in Salt Lake City twice. Taking a look at insurers that have texas exposure, all to the downside. How about some of the majors, including travelers which is shaving off 20 more points off the dow. Own the things they love to do most on these balloons. Travel with my daughter. Roller derby. Now give up half of em. Do i have to . This is a tough financial choice we could face when we retire. But, if we start saving even just 1 more of our annual income. We could keep doing all the things we love. Prudential. Bring your challenges. 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Stuart lets get right back into the thick of things. Fox news grif jenkins joins us live from houston. Grif, you are at the, reservoir where there is a controlled release of water. Is that accurate . Reporter thats right, institute. You know, just thats right, stuart. Just a quick primer here, houston is one of the most floodprone areas of the country, and as such, they have a complex system of reservoirs and bayous to draw the water away. And thats why with unprecedented, historic flooding from Mother Nature that you see hitting us again now, they have made the decision for a controlled release of some of that water, because that system of reservoirs and bayous has reached capacity, it is about to go. For the First Time Ever in history, the reservoir over the top. You are looking at the reservoir right there, addicks. It appears that that bubbling water coming from the reservoir just over that grassy knoll is perhaps the controlled flow. Its, obviously, raining and i apologize for the lens, but if you look just behind us, you can see the water almost getting all the way up to the road that were on leading from that reservoir. Now, they have already, the officials there, the Harris County flood control, have said for sure we are going to have some flooding in this certain neighborhoods, and that, of course, is not good news for those that were told to stay put, not to get in their cars and leave. But some evacuations taking place. These people dont have anywhere to go, making the situation even more complex. And let me just show you something here that i know is hard to see because of the rain on the lens, but this is actually a neighborhood. You can see a limousine that got flooded out. Thats about, oh, say, three feet of water. We drove through that and nearly our car almost congressing out. But to the right konking out. Now, if that reservoir and water spills over that, those homes are going to be under epic flooding. Their going to be underwater almost immediately, and that is going to be a problem that is complicating the situation at hand as we stand here right now, stuart. Stuart grif jenkins right in the middle of it, and its not over. Thank you, grif, we appreciate it. Now, at the top of the hour, we showed you a looted gas station. Jeff flock was there. It had been the Cash Register that had been looted. It was a v. A. Lair owe station valero station, and jeff flock shot these pictures of looting that had actually taken place. Ken paxton, the attorney general from the great state of texas, is with us now. Mr. Attorney general, we also a heard from the police chief in houston that four people had been arrested for attempted looting. Whats the situation in terms of looting as we speak . Well, you know what . Its actually been difficult for people to loot because of all the water, so we havent had as many problems as you might expect. But were certainly ready for them. As you can see, arrests have already been made. Stuart have you been arresting or going after people who have been price gouging . Yes, we have. Weve had, ive had my people in the office all weekend long. Weve had over 500 complaints whether its related to overpricing on water, fuel, hotels, even bread, being charged for a loaf of bread 14. 99. We do have problems. Fortunately, were getting the word out. I dont think people always know this is a problem, that this is a violation of state law. Severe penalties, up to 20,000 per to occurrence. And if you price gouge on a senior citizen, up to 250,000 per to occurrence. So were pretty serious about this. Stuart okay. The president and first lady will be visiting texas tomorrow to see the damage themselves firsthand. Do you happen to know where they might be going . You know, im not quite sure. I think theyre trying to keep that quiet. This isnt like a campaign stop. I think hes really trying to keep a low profile. Im pretty sure the governors got that worked out, and itll definitely i dont think its going to start in houston. Its going to start in a city relatively close to houston. Stuart do you welcome his presence in texas at this time whilst you still havent seen the worst of flooding . You know, absolutely. I think itll be encouraging to people to know their leaders here. Weve had a lot of cooperation with the federal government, its been an amazing effort between the state, local officials and the federal government, like none ive ever seen before. And given the magnitude of the storm, the fact that it is lasting really for so long, its been great to have the federal government so engaged. Stuart well, the president s chief of staff is general kelly. Thats an advantage for you guys in texas, because he used to run fema, the Emergency Management association, and he was a general who knows how to martial military assets. So youve got that on your side as well. Absolutely. Its been huge. And you can tell, its making a difference. Obviously, Governor Abbott is doing a great job as well, so that coordination between him and the federal government and kelly has really, i think, been remarkable. And if you look at just, obviously, its an ongoing storm, but you look at the number of loss of life, its been relatively low for what you might have expected. I think part of that is theyve done such a good job of getting First Responders in the right low cases and providing supplies and equipment. Stuart the Lieutenant General of texas, dan patrick, was with us earlier. Youre the attorney general of the great state of texas, with us now. I want to thank both of you for taking time out to be on this program. Absolutely. Keep us in your prayers. Stuart got it. Thank you very much, sir. Weve been showing you live video from dickinson, texas, all morning. Some of the deepest flooding weve seen all day. We have a live report right from there moments from now. So new touch screens. And biometrics. In 574 branches. All done by. Yesterday. Banks arent just undergoing a face lift. Theyre undergoing a transformation. A data fueled, security driven shift in applications and customer experience. Which is why comcast business delivers Consistent Network Performance and speed across all your locations. Hello, mr. Deets. Every Branch Running like headquarters. Thats how you outmaneuver. Stuart fox news Casey Steagall reporting live from dickinson, texas, where the flooding is deepest. What are you seeing right now, casey . Reporter stuart, im seeing a ton of water, im seeing a ton of rescue boats, and im also seeing humanity at its finest because a lot of people out here are volunteers. Theres three trucks lined up at this intersection right off of i45, the major road that takes you up and down through the whole state of texas, but its closed, the northbound lanes are. You cant even access houston from where we are. Its about 27 miles as you see from the road signs that way. So look at these guys. I mean, you dont see people driving through flood waters like that too often, but they are, you know . They are just here, they are volunteers who have answered the call for help. A county judge just came up to me not long ago. He got off of an airboat and he said we realized very early on yesterday that we had such a situation that there was a shortage of boats. There just werent enough its not as if they werent prepared, its just there wasnt enough. So they put it out on social media, and people started showing up in droves. They hitched their boats to their trailers, and they came out here to help. Stuart casey, if you can hear me, casey reporter i can. Stuart i wonder if you can spot license plates on those trucks towing in boats, because we hear that the cajun navy has organized itself out of louisiana and is reporter thats right. Stuart to get to dickinson, texas. Is that what were looking at . Reporter thats right. Those are texas plates. I live here, i live in dallas, but those are texas license plates. A loot of people dont a lot of people dont know this, cajun navy, we kind of have our own version here in the Lone Star State, and thats what youre seeing. The cajun navy, weve seen a lot of disasters in louisiana, and you want to talk about an Incredible Group of people and organization. We know that they are on their way, have seen that. But literally, there are so many different places that they can go to, its hard telling where they are because, stuart, thats the other thing that i really want to explain, is that this little postage stamp youre looking at right here, this is just one intersection. And when you drive around here, you see it over and over. Five miles up that way, you see it. Four miles that way, six miles that way. You cant put it into words really. Its so widespread. And then youre seeing all of the images, stuart, coming out of houston. And to think that thats almost 30 miles up road, and here we are standing in water to our ankles. I mean, its just, its just devastating. And its probably not translating on camera, but its pouring rain right now. Stuart no, its reporter its weird. Stuart youve made the point, casey. You have made the point, and we all understand the scope of the flooding that youre right in the middle of. That is extraordinary stuff. Casey, youve got a long week ahead of you, because our own janice dean suggests theres still another foot, two feet of rain still to come where you are now. All right. Good luck, young man. Thanks for a great report. We always appreciate it. Casey steagall, everyone. Good stuff. Have you ever seen anything like this before . No. Never. Mother nature at its worst and human nature at its best with the cajun navy and other volunteers stuart im just going to break in, liz, forgive me. Downtown houston there has been an explosion which has rocked a building, and now the building is on fire, smoke and flames shooting out of it. Youre looking at it right now. We dont know the cause of the explosion. Local media says this is a law office right. Stuart this is, obviously, still a developing story. Youre looking at the video from downtown houston. That is a major fire, and its raging as we speak. Now back to janice dean who, at 11 30 eastern time on thursday of last week, correctly predicted and brought to our attention the fact that there may well be 25 inches of rain in the houston area. She was dead right. She was. Stuart and she alerted us fist to what was going first to what was going to happen. Now shes telling us, you aint seen nothing yet. That storm loops back around and maybe another 25 inches of rain the same storm could make three landfalls. Through thursday, right . Through thursday, yes. And its shifting east, towards louisiana too. And we know that the floodprone areas of louisiana are very vulnerable as well. Stuart weve never seen anything like this before. No. Stuart janice is reporting this storm may have brought more rain to that area than any other storm in American History. Its the biggest rainfall total of any storm on record in the united states. And then the next step is also louisiana, which is under a state of emergency right now. The president s declared it this morning. Stuart heading towards the new orleans area right. Stuart and we all know memories of katrina and under tornado watch as well. Stuart throughout the show, youve been seeing dramatic pictures of houston. Truly inspiring in many respects because youve seen live rescues of people under real threat, being rescued by local people. It was an extraordinary situation. Weve covered it for you. And now, neil, its yours. Neil all right. Thank you very much, stuart. I love how lizzie just put this in perspective. Mother nature at its worst, human nature at its best. I think she hit it just exactly right. And thats what were seeing right now. The Vice President will likely participate in a fema briefing, warning of more lifethreatening flooding along the way, 30,000 expected to be housed in the rescueses, well, they just keep on coming. The Fire Department to date, last 24 hours weve responded to over 5500 calls for service. Over 4,000 of those calls have been waltrelated incidents. Water related incidents. The houston fire