we re at $3.52 a gallon. that s ridiculous. we re only in february. you have a number of reasons pushing that higher from refineries being shut down on the east coast, middle east tensions rising. we could maybe even see $5 by memorial day. every 50 cent increase takes $500 million out of the economy. how about since we all want to save a penny where we can, the presidents day sales, where are the good ones? big weekend for shopping. winter apparel. you re talking up to 70% off whatever is left over. i know you like to ski, maybe a winter jacket or whatever. that s heavily discounted, furniture, people spruce up their homes, up to 50% off there, up to 70% off the showroom models. this is the time of year they swap them out. exercise equipment. people made resolutions to lose weight, they want to extend the momentum.
campaign for power grab. the underwear bomber got life without parole today. farouk abdulmutallab had pleaded guilty to all charges on the second day of his trial last fall. the attempt to detonate explosives on hi body misfired on christmas day of 2009. this is an facebook simulation of what would have happened f.b.i. simulation of what would have happened if he had been successful price of gasoline went up a penny. national average is $3.52 a gallon. while those prices are going up, one plan to bring more oil to the u.s. continues to be a political hot potato. we have the latest on the keystone xl project. reporter: house democrats are trying to delay or kill the keystone pipeline with series of poison pill amendments and the republicans
little. if you have a declaration we will refine more and produce more oil domestically that in the intermediate term, a month or so could start to offer some relief at the pump. maybe. heather: could being the big word there. could. heather: thank you very much, stuart varney, thank you. bill: how does this rather impact you? about a year ago your typical american family spent an estimated $4150 on gas. that is up $800 from the year prior. families spent about 7% of their income on gas in 2011. in 2009 the average price of a gasoline was a buck 9 of. 1.96. today, $3.52 a gallon. that is an increase of 80%. heather: let s just add to the good news the united states hitting a disappointing record on the job front. according to a new report we ve seen the longest period of high unemployment since the great depression. unemployment steadily rising since 2007. the high point?
they are starting to you see agitation in ahmadinejad s announcement. eric: why is gallon of gasoline $3.52 today? dana: you are the expert. there are a lot of reasons but partly because people are nervous. eric: sanctions aren t working. switch to nuclear enrichment plans. bob: of course. the way they re working is not selling the oil. stabilization in the economy. they have had a terrible situation. it s starting to crack apart. you know what? greg: geithner and krugman, worse tan any sanctions. the economy would crumble. i m trying to figure out what is working. if that is working stop working. bob: you don t take in account the bush administration and administration both let iran know in no uncertain terms that the nuclear strike on israel you will cease to exist. andrea: in no uncertain terms? 1967 border did not bob: they don t come and tell you, andrea, that, they
in some sort of price manipulation and he said he would do this to oil companies. i ll make oil companies like exxon pay a tax on their windfall profits and we ll use the money to help families pay for the skyrocketing energy costs and other bills. ok. that s when he was a senator! now he s the president. he could probably do all that other stuff he was talking about about back then. nothing. can i point something out? for every penny per gallon on the pump, a billion dollars comes out of americans ability to spend so a $1.83 when they started. $3 $3.52 now. that s $170 billion of spending ability coming directly out of the american economy. so 83% it s gone up. more. more. it s closer to 91% or 92%. we asked folks out there in tvland to e-mail us and i got a couple of them. brian ross writes i live in tampa, i own a mitsubishi