good evening, everyone. i m tom foreman in for erin burnett. outfront tonight, iran s big power play. the new threats, the new fears, and how they could dramatically change the cost to you for a gallon of gas. if you don t think you re going to see $5 a gallon by summer, the iranians may be telling you to think again. oil prices rose monday to a nine-month high after tehran announced it was cutting off oil exports to britain and france, threatening the same to six other european countries. oil is iran s lifeline. it makes up for 80% of all its exports with the top customers being china, which gets 22% of the crude, the eu, which takes 18%, then japan, 14%. india, 13%. and south korea, 10%. so if those are the customers, why do we care? most of our oil comes from canada, saudi arabia, mexico, venezuela, and nigeria. we care in america because oil is an internationally traded commodity and when the supply is interrupted anywhere, it causes shock waves everywhere and iran knows
the new threats, the new fears, and how they could dramatically change the cost to you for a gallon of gas. if you don t think you re going to see $5 a gallon by summer, the iranians may be telling you to think again. oil prices rose monday to a nine-month high after tehran announced it was cutting off oil exports to britain and france, threatening the same to six other european countries. oil is iran s lifeline. it makes up for 80% of all its exports with the top customers being china, which gets 22% of the crude, the eu, which takes 18%, then japan, 14%. india, 13%. and south korea, 10%. so if those are the customers, why do we care? most of our oil comes from canada, saudi arabia, mexico, venezuela, and nigeria. we care in america because oil is an internationally traded commodity and when the supply is interrupted anywhere, it causes shock waves everywhere and iran knows it. outfront tonight, iran expert ashman of the new america foundation, and former military intelligen
or 20 years. i got interrupted, talking too much, but dung was talking about rare earths back in the 70s. yeah, the middle east has oil and we have rare earths. guess what china is doing in saudi arabia right now? they are putting solar panels, enabling saudi arabia to desalinate water with solar energy. now you go figure. i mean, they have become the biggest partner of saudi arabia right now. i mean, heaven forbid, once they get enough military might there, we re going to lose all clout in the middle east. meanwhile, you look at the american political debate, the american political debate doesn t include a talk about debt restructuring or a conversation about job creation and on the scale as it were, and the fact of the matter is the government couldn t create 30 million jobs. the creation of industries is the only thing that will create 30 million jobs and what you ve said is we want the president to hire 30 million people. it s piercing the veil of innovation with that type of th
really faced with a national calamity if this country goes into default i think is very shortsighted and hurting the republicans in my judgment a lot more than it will the democrats in the long run. it s hurting the stock markets and 401(k) s because they are dithering. laura: alan, do you think the president has led in this crisis. yes, absolutely. this is a right wing talking point that somehow the president hasn t led. he has tried time and time again to reach out, bring people to the white house, negotiate a deal. have a larger deal so don t have to do it again in three months. of course he has led. laura: i think there are s. a lot of democrats who think he hasn t led including joe marchible. not this one. is he a conservative democrat in a conservative district. laura: heaven forbid. we appreciate it lanny and alan. thank you. laura: we will awaited this press conference from democratic leaders coming up here on the o reilly factor. do you not want to miss the d
really faced with a national calamity if this country goes into default i think is very shortsighted and hurting the republicans in my judgment a lot more than it will the democrats in the long run. it s hurting the stock markets and 401(k) s because they are dithering. laura: alan, do you think the president has led in this crisis. yes, absolutely. this is a right wing talking point that somehow the president hasn t led. he has tried time and time again to reach out, bring people to the white house, negotiate a deal. have a larger deal so don t have to do it again in three months. of course he has led. laura: i think there are s. a lot of democrats who think he hasn t led including joe marchible. not this one. is he a conservative democrat in a conservative district. laura: heaven forbid. we appreciate it lanny and alan. thank you. laura: we will awaited this press conference from democratic leaders coming up here on the o reilly factor. do you not want to miss the d