• With: Donald Trump

    This is a rush transcript from "Your World," March 15, 2011. This copy may not be in its final form and may be updated.

    NEIL CAVUTO, HOST OF "YOUR WORLD": To my exclusive chat with 'The Donald', who says that the markets prove it: This thing is bigger than Japan.

    (BEGIN VIDEOTAPE)

    DONALD TRUMP, CHAIRMAN & CEO, TRUMP HOTELS & CASINO RESORTS: Japan is really -- it's been a linchpin, and hasn't been doing so well over the last 10 years, frankly.

    But it has been a strong player and a big player. And when you see what's happening, and ultimately what could happen to nuclear energy in terms of a worldwide feeling, is not a good thing.

    CAVUTO: Are we overreacting, Germany sidelining some nuclear reactors, E.U. reconsidering it, Joe Lieberman in this country saying maybe take a look at new licenses?

    TRUMP: Well, when you see what's going on in Japan, certainly you can't say overreacting, but, look, nuclear is a way that we get what we have to get, which is energy. I think that probably there's not an overreaction, but we have to be very, very careful. I worry about terrorists. I worry about other things beyond just that. We have the earthquakes. Now, New York has been fairly earthquake-free and certain other areas, but you also have them in California. And, certainly, that's a ground zero-type site.

    We have to be very concerned. I'm in favor of nuclear energy, very strongly in favor of nuclear energy. You know, it's sort of interesting.  Somebody was explaining if a plane goes down, people keep flying. If you get into an auto crash, people keep driving.

    There are problems in life. Not everything is so perfect. You have to look very carefully, though, at really taking care; have the best, the best people in terms of safeguards for nuclear energy. But we do need nuclear energy, and we need a lot of it fast.

    CAVUTO: But if you're Saudi Arabia or you're OPEC and you're looking at this, you're just rubbing your hands together.

    TRUMP: They are absolutely salivating. Now, who knows how long they're going to be around? They're only there because of us.

    It always amazes me when they raise the price. You know, they raise the price. Nobody ever talks to them. Nobody ever says you are not going to do this. It really is. But they must be...

    CAVUTO: So, you're saying that's them raising the prices, not the markets and fear leading the price?

    TRUMP: No, it's not the markets. It's OPEC.

    Look, I have been hearing about speculators. I know speculators.  They only wish they had that kind of power. They set the price of oil. If they did it in this country, it would be called an illegal deal. It would be illegal. They'd go to jail.

    (CROSSTALK)

    CAVUTO: So you think they are deliberately colluding to do this?

    TRUMP: Well, of course. It's OPEC. I mean, that's what they do.

    (CROSSTALK)

    CAVUTO: Donald, if they overdo it, they could shoot themselves.

    TRUMP: Twelve guys sitting around a table, and they are having an absolute field day, because we have nobody to go and call and talk and say, fellows, you are not going to do it. If you do it, you have got big, problems.

    They wouldn't even be there, except for us, Neil. Without us, they wouldn't even exist.

    CAVUTO: But what do you think they think about our reaction to go slow on drilling here, even in the face of this?

    TRUMP: I think it's -- I think it's incredible that we are going slow on drilling. I think it's beyond anything I have ever seen that we go slow on drilling.

    And there are always going to be problems. You are going to have an oil spill. You are going to have this. You clean it up and you will fix it up and it will be fine. And people have already almost forgotten...

    CAVUTO: Well, the Gulf thing was more than a little deal, though, right? Right?

    TRUMP: It was a disaster. It was a disaster. It got solved.

    CAVUTO: But do you think, without that, they would be rushing more...

    (CROSSTALK)

    TRUMP: No, I don't think they would. I mean, it's amazing.

    CAVUTO: Oh, so that's an excuse?

    TRUMP: No. I just think -- I don't think they would.

    It's incredible that we're not going -- I have people in the business who say, it's impossible to get a permit to drill. So, you can imagine how hard it is to get nuclear and other things. But they say it's almost impossible.

    And the Saudi's -- I have so many friends over on the other side. They are salivating. They can't believe that this country -- if you look at certain things, like natural gas, we're the Saudi Arabia times a hundred of natural gas. But we don't use it. There so are many different ways, beyond the nuclear.

    The nuclear really does have its issues; let's face it. I mean it's not a pretty sight, when you look at Japan and you see what is going on. It does have issues.

    CAVUTO: Right.

    TRUMP: You look at natural gas, we have more than anybody. We are the biggest. We don't use it.

    CAVUTO: This president lately, in all seriousness, Donald, has gotten some criticism for how he has reacted and what he has done as this earthquake news has been unfolding.

    Now, presidents are entitled to their weekends, of course, but reports that he was golfing, going to a Gridiron dinner as we're getting more serious reports out of Tokyo.