This is a rush transcript from "Your World With Neil Cavuto," December 7, 2009. This copy may not be in its final form and may be updated.

ERIC BOLLING, GUEST HOST: She is the author of cap and trade. Now she has got a new title for climategate. She`s calling it e-mail theft gate — Senator Barbara Boxer calling for a criminal probe of the hackers who exposed the e-mails, not the questionable science they may be exposing.

One of her Republican challengers for California Senate says, that`s the wrong move.

With us now is Carly Fiorina, former Hewlett-Packard CEO.

Carly, thanks for joining us.


BOLLING: OK. So — so, I pointed out that Barbara — Senator Boxer is more concerned with the method of which we have exposed these e-mails, rather than what the e-mails are telling us.

Do you agree or disagree?

FIORINA: Well, it may be a legal issue, but it is certainly first and foremost a factual issue. We need to know the facts.

And what I find so ironic about Barbara Boxer`s outcry over this is that, in 2008, she was accusing the Bush administration of a grand conspiracy to cover up global warming. She wanted to know the facts desperately then. Apparently, she doesn`t think they are very important right now, when they don`t support her political point of view.

The American people deserve to know the facts, whatever they are and wherever they point.

BOLLING: So — OK, so, now, let`s just take your personal situation right here. You are the Republican. You are running for the Republican nomination to the Senate.

Who are you going up against? Is it Chuck DeVore — DeVore, is that right? I pronounce that name right?

FIORINA: That`s — that`s correct, yes.

BOLLING: OK. So, I`m reading this, Carly. And I have to ask you this. You know, it`s what I have to do. He has been seen as a far more conservative — or he is at least portraying himself as a more conservative Republican — Republican than you. Do you see that as a risk?

FIORINA: Well, no, because I share the values of Republican primary voters. And anyone who knows me and my record knows that that is the case.

That is why I am very pleased to have received the endorsement of very conservative people here in California, as well as very conservative senators in Washington, D.C., and across the country. I`m a fiscal conservative. I`m a social conservative.

But I think the issue that you`re talking about today is an example of why we need people with some real-world business experience in the U.S. Senate. Global climate change, whatever the facts are, is an opportunity for mischief-making. We can create regulation or legislation that kills jobs and opportunity in this country, or we can take an approach that says, let`s make sure that we give American businesses, small, medium, and large, every opportunity to lead the clean green revolution. And, today, we are doing the opposite.

BOLLING: So, Carly, do you see — which is a bigger risk to American business? Is it — you know, is it a cap and trade bill, or is it some regulations on carbon regu — from the regulations side? Which one is more concerned, or are they both?

FIORINA: Well, I think — I think they are both extremely concern — concerning, if they are created with a view on only, what do we have to do to curb global greenhouse emissions, without knowing the facts, as opposed to being focused on, how do we create opportunity for U.S. business?

Let me give you a very clear example very quickly. In Texas recently, a big wind farm was turned up. Guess where the wind turbines came from and were manufactured? China. It is virtually impossible these days to build a new manufacturing facility in my home state of California or across this country. Credit is not there. The regulations are ridiculous. The tax burden is ridiculous.

Let`s focus on making it as easy as possible for businesses to become energy-efficient and for innovators and entrepreneurs to succeed in becoming the leaders in the world in the world in the clean green revolution.

And, oh, by the way, we need more nuclear power. We need more natural gas. We need to motivate people in a positive way to become energy efficient. All that means more opportunity, not less.

BOLLING: Carly, you ran a big multinational corporation, Hewlett- Packard.

What about these executives at AIG today that announced they may leave the company if their bonus is not protected in 2009 and 2010? How would you handle something like that?

FIORINA: Well, you know, first, I think businesspeople need to understand why the American people are so outraged by some of these stories.

I have written many op-eds on this subject. When you have executives who fly down in their corporate jets and ask for American taxpayer to — money to bail them out, of course people are upset. On the other hand, the private enterprise system works. Competition works. And we set salaries in this country based upon the private market, the free market system. When the government starts getting involved in telling people how much they can make, that is a big problem.

So, people need to be rewarded for their efforts. That is what this country is all about, but businesspeople also need to understand why taxpayers get outraged when they are making, you know, $100 million paychecks and still asking for taxpayer bailout money.

BOLLING: All right, Carly, real quick. We are running out of time. I hate to do this to you with so little time left.

You are going to have to look a little bit more conservative for your primary, and then move back to the moderate side for a run against Barbara Boxer; is that right?

FIORINA: No, I don`t think it is right at all.

I think what I need to do, both in the primary and in the general election, is make sure people understand what I am. I share conservative values. I am a fiscal conservative. And the reason that I can win in California is because the number-one issue on Californians` minds right now, regardless of their party affiliation, is jobs, and the number two issue on their minds is out-of-control federal government spending.

And, in general, California voters are, frankly, tired of professional politicians, and they would like someone with a little common sense and a track record of actually getting something done to come to Washington and help get things done on their behalf.

BOLLING: Carly Fiorina, thank you very much, former CEO of HP, also U.S. senator primary candidate on the Republican side.

FIORINA: Thank you.

BOLLING: Thanks. All right.

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