The 70s that wiped 2 3 of the value of equities. That was then. Is it now . It is hard to say but early indications no. Whats remarkable here my friends, as we look at these numbers how tame they are, considering what is going on. If this were to have occurred back in the 70s and the Worlds Biggest Oil producer which saudi arabia was at time, so much of its oil sidelined we would be in deep you know what. So far does not appear to be the case. Price Futures Group Senior Analyst phil flynn at the cme. Phil, it is remarkable, you know . It really is and you really got to credit the u. S. Energy industry, donald trump and his Energy Policies allowing u. S. Energy producers to do what they do best, that is producing energy. It raises concerns when you listen to the democratic president ial candidates and their Energy Policies what a different story this might have been if we had a democratic president right now. It could have done a lot more damage to the u. S. Economy because these are ca
Money. Iran is denying responsibility for the Saudi Arabian oil field attack that disrupted 5 of the worlds daily oil supply, sending oil prices sharply higher. President trump tweeting, remember when iran shot down the drone saying it was in their airspace, it was nowhere close. They stuck strongly to the story knowing it was a very big lie. They say they had nothing to do with the attack on saudi arabia. Well see. After last night saying that the u. S. Has quote, reason to believe we know the culprit and are locked and loaded depending upon verification. Secretary of state mike pompeo calling our allies to hold iran accountable but just now how much International Support have we gotten despite this brazen attack . I want to bring in fox news security analyst walid phares to bring it down. Geopolitical implications since saturdays oil field strikes. Where do we go from here if indeed iran is responsible . Iranians made a very clearly know they intend on doing so. Remember when we shut
General motors negotiations resuming next hour. The strike coming as gm faces declining sales and is closing plants with uaw leadership while facing an fbi corruption probe. Have news on vaping, opioids and chinas economy as well but im david asman in for stuart today. Good monday morning with varney co. Start right now. David lets get right to oil. Studies have shut down 5 of the production after two drone attacks. West texas crude and brent crude surging on that news over 10 . Here are dow components exxon and chevron free markets. They are unchanged but those situations could change dramatically when you have the opening bell. Stocks are a big along with the entire Energy Sector of the orbit here is President Trumps latest tweet on the subject because we have done so well with energy over the last few years, thank you mr. President , we are a Net Energy Exporter and now the Number One Energy producer in the world and we dont need middle eastern oil and gas and in fact, we have very
Hopkins. The president tweeting out the following. Quote, because we have done so well with energy over the last few years, thank you, mr. President , we are a Net Energy Exporter and now the Number One Energy producer in the world. We dont need middle eastern oil and gas and in fact, have very few tankers there but will help our allies, end quote. So has the rebuilding of our fossil fuel industry made mideast crises like these easier to handle . What do you think . I mean, opec used to call the shots in middle eastern terror, middle eastern disruption used to have a major disruption, even back in the 1980s, in our own economy. Certainly in the 1970s, especially when the environmentalists, the epa started. Thankfully because of the fossil fuel industry, the innovation, fracking, all the deregulation thats come across, terrible events like this will have ultimately a de minimis impact on the energy that powers our modern american lives. I agree. We are less dependent on foreign oil but
it looks pretty. griff: clear skies come i think. lisa: when adam was talking earlier, 73 in miami, although it is not too bad in new york today. griff: it is getting warmer. katy perry, three days away from the new year. joey: that is right. griff: exciting. lisa: very much. we are also seeing chaos play out at the southern border as starting the mic startling new video with migrants to break into a texas ranger s home. it is not the first time this has happened on his property. joey: meanwhile el paso migrant crossings are dropping dramatically. this is why. the national guard put up razor wire fencing. griff: lucas live with more, hey, lucas. illegal border crises plummeting with the mile-long stretch in el paso eight days after the texas national guard reinforced the barbed wire fence. u.s. forces expanding the perimeter after texas governor greg abbott adding more shipping containers to the border. arizona was using the same strategy until sued by the