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Bulls & Bears | Cavuto on Business | Forbes on FOX | Cashin' In
Bulls & Bears
This past week's Bulls & Bears: Gary B. Smith, Exemplar Capital; Scott Bleier, HybridInvestors.com president; Tobin Smith, ChangeWave Research; Pat Dorsey, Morningstar.com; Eric Bolling, FOX Business News, and Marc Lamont Hill, Ph.D., Temple University.
Trading Pit: McCain v$ Obama: Which one would slash gas prices?
Gary B. Smith: Neither is great, but Obama is the greater of two evils. His idea of bringing down prices is to tax the oil companies. Oil companies need to increase oil output, not pay more taxes.
Marc Lamont-Hill, Ph. D.: Obama will lower gas prices in the long run. He wants to decrease America's demand for oil and create alternative fuels.
Tobin Smith: America isn't the only big consumer of oil, so the U.S. can't solve all the problems. McCain won't let chaos happen in Middle East — unlike Obama, who wants troops out of Iraq in 16 months. That's when you'll see $250 per barrel oil.
Eric Bolling: Gary B. is right; a windfall profit tax on oil companies is a bad idea.
Scott Bleier: Oil is a supply issue. McCain would drill and be more pragmatic.
Pat Dorsey: Obama's windfall tax is ludicrous. However, his supporting alternative energy is good. McCain has not been open to that idea.
Massive Food Fallout in the Midwest: Higher Food Prices Across America?
Eric Bolling: Due to all this massive flooding and loss of crops, we are going to see higher food prices.
Gary B. Smith: Wheat was a crop that was flooded out in 1993. Prices were actually lower from 1992 to 1993.
Tobin Smith: The world is competing for all this stuff unlike 1993. With all this ethanol gone, it's going to add to gas prices. No one's figured that one out yet!
Pat Dorsey: This is going to impact food prices. Corn is very important in food markets.
Scott Bleier: Double whammy because speculators are making prices go higher, too. But it will fix itself.
Stock Exchange: Pat's $ouvenir $tock$
Click here to watch the segment in its entirety.
Gary B's Gift: Canadian Natural (CNQ)