UN releases video of dinosaur lamenting extinction before climate summit
OPIS energy analysis global head Tom Kloza discusses the transition away from fossil fuels on 'Your World' ahead of the COP26 climate summit.
This is a rush transcript of "Your World" on October 29, 2021. This copy may not be in its final form and may be updated.
NEIL CAVUTO, FOX NEWS ANCHOR: More tricks than treats for shoppers, with bloodcurdling price hikes, and all of this ahead of Halloween, and shippers now screaming to get goods to market.
We have got all of the gory details. Welcome, everybody. I'm Neil Cavuto, and, today, this is your scary world.
And we have got you covered, first off was Susan Li on the scare, certainly for shoppers, and then William La Jeunesse out of California on the bottlenecks that are driving, well, shoppers and shippers batty.
We begin with Susan.
Hi, Susan.
SUSAN LI, FOX NEWS CORRESPONDENT: Scary, indeed, Neil.
So we're looking at the fastest jump in consumer prices since 1991, 30 years ago, when prices went up as quickly. Headline, inflation, you're paying almost 4.5 percent more than you did a year ago. Now, if you strip out volatile food and energy, core inflation, which is the Federal Reserve's preferred gauge on consumer prices, that still went up by more than 3.5 percent, still a three-decade high.
And you have been hearing complaints from America's biggest companies about the high prices that they have to pay, and Starbucks being the latest today, with the stock having its single worst day in a year after the coffee giant said that they were making less because they have to pay more for raw materials and labor.
So when these for-profit companies pay out more, they're going to be passing those costs on to consumers by hiking their own prices. And just this week, Caterpillar, Kraft Heinz, McDonald's, Colgate, Palmolive, Del Monte among the companies raising prices, and they join Nestle, time maker P&G, Danone, Chipotle, Verizon, AT&T that have also recently increased prices.
So consumers are dealing with sticker shock when they go to their local supermarkets to buy groceries or when they fill up their gas tanks and booking vacations. Inflation, labor shortages and supply chain bottlenecks are the main reasons right now holding back the U.S. economy, according to Wall Street.
The U.S. economy only expanded a disappointing 2 percent in the summertime, with consumers not spending as much owing to higher prices and stalling jobs growth. Now, price pressures are just so high right now that even the happiest place on earth is more expensive.
Disneyland in California just this week hiking single-day tickets by five to 10 bucks. And, Neil, when Mickey's raising prices, that's really saying something, no?
CAVUTO: Yes, you're definitely right.
You know what's weird, too? We're wrapping up a month of trading, when all the major averages close the month at records. I'm talking about the Dow, which was up better than 5.5 percent this month, the S&P about 6.7 percent, the Nasdaq up about 6.9 percent. So if inflation is such a big worry, why are we not seeing it in the markets?
LI: Thank you.
CAVUTO: Didn't hear me. OK.
LI: Sorry, Neil.
CAVUTO: Thank you. I apologize for that. No, no, it's all right. It's all right.
We are following this, because it is a bit of an anomaly, folks, that all the major market averages advanced into record territory. All had appreciable gains advances in a month that's usually scary, not just because it's the month of Halloween, but look at that, all of them nicely advancing, more like a Rocktober.
But, be that as it may, the delays and the supply chain woes, they do continue.
William La Jeunesse following all of that at the Port of Los Angeles -- William.
WILLIAM LA JEUNESSE, FOX NEWS CORRESPONDENT: Well, Neil, the retailers I spoke to did not want to talk about their supply chain problems because it could affect their forward earnings or stock price.
But there are issues here affecting price and availability. We expect 46 ships here in the next three days. That's a lot, 10 percent from Vietnam, 65 percent from China. But if you really want to look at a trade imbalance, take a look at this picture here. There are so many containers here, they are literally spilling over into nearby neighborhoods, leaving truckers without chassis needed to move the new containers, hence the logjam.
Now, to solve that, the ports have imposed a $100 fee on each container not removed on time. And that escalates each day to $2, 600 each week. Now, there are 360,000 containers in Long Beach and L.A., import and export as well. And they fear that the prices are going to end up hurting consumers, that surcharge.
(BEGIN VIDEO CLIP)
MATT SCHRAP, HARBOR TRUCKING ASSOCIATION: They're just going to pass that on to the beneficial cargo owner, which eventually is going to just keep adding to the outstanding bill that the shippers have, which then just gets passed on to the American consumer.
(END VIDEO CLIP)
LA JEUNESSE: So another possible solution, rail. That can move cargo faster.
And by opening a new express direct cargo train next week to Salt Lake City, officials here hope to cut by 300 the number of truck trips each day with one outbound train.
(BEGIN VIDEO CLIP)
NOEL HACEGABA, INTERMODAL ASSOCIATION OF NORTH AMERICA: The only way that those boxes will get to the heartland and the Midwest, where the larger markets, are via train. And so rail is extremely critical for the supply chain and also for the economy.
(END VIDEO CLIP)
LA JEUNESSE: So there are still major worries here on the front end. You still have that traffic coming, obviously, from Asia.
Now, on the back end, not only do you have labor problems at the warehouses, Neil, but right now it is taking three months to get an exam at the DMV to even get a trucker's license -- Neil.
CAVUTO: That's incredible. You mentioned that earlier. It just blew me away.
William La Jeunesse, thank you very, very much.
So, the logjam pretty much continues. Can we spread the wealth and rely on other ports? Can we do anything like that to ease this congestion?
Let's go to Tom Cole, the House Rules Committee ranking member in Washington, Oklahoma congressman, kind enough to join us.
Sir, good to have you.
I do want to address what your Democratic colleagues are trying to come up with to grab more spending, but none of that will address some of these problems happening at these West Coast ports. And I'm just wondering whether that has to be reprioritized now.
REP. TOM COLE (R-OK): Oh, well, frankly, you put your finger on a real problem in Congress, Neil.
And thanks for having me on, by the way.
CAVUTO: Thank you.
COLE: The Democrats aren't focusing on what's important in the country. There's no focus on the border crisis. There's no focus on increasing inflation. There's no focus on shortage of labor. There's no focus on the slowing economy.
And there's certainly no focus on the supply chain. You have got a group that is -- quote, unquote -- "functioning" and thinking about the problem. That's a lot different than action.
I mean, what we're seeing up here is Democrats pursuing a very liberal, very reckless agenda at a time when we need to focus on problems that are more immediate, more pressing, and, frankly, much more important to the average American.
CAVUTO: We are going to be talking to a Democratic congressman about this in a second.
But I'd be curious to get your views on talk right now among progressives in the Democratic Party to combine those two large infrastructure packages. Certainly, the bigger one is more like a climate change and spending package, rather than an infrastructure-only package.
But it's annoyed some of your Republican colleagues, I'm told, who would be almost certain no-votes, even if they were predisposed to voting for the infrastructure-only. Is that true?
COLE: It is. This link -- yes, that's absolutely true, Neil.
This linkage of the two bills has, frankly, cost Republican support. Now, let me be clear, I don't like either one of them. The infrastructure bill, which is supposed to be paid for, actually adds $398 billion to the debt, and, frankly, has a lot of pretty questionable provisions. But it's the better of the two.
The second bill, the reconciliation bill, is really way out there in terms of spending. It's changing every day. There's -- it's going to be a lot more expensive than the advertised cost. But progressives are trying to use a bill that they support, the infrastructure bill, to bludgeon more moderate members into supporting a bill that some of them don't support.
So, it's really been turned into a sort of blackmail instrument inside the Democratic Party.
CAVUTO: Do you have a sense that your Democratic colleagues are going to come up with something in the next couple of days, I mean, any whisperings from them where they're reaching agreement?
I know you're not part of that, but are you hearing anything that looks like they get this done? Because, as you know, we're another few weeks away after that hitting this whole debt limit thing again. So priorities are in order. What are you hearing?
COLE: Well, my instinct is the merry chase will go on for a while longer.
That is, look, they can pass the infrastructure bill whenever they want to. There's more than enough Democratic votes, if they will actually vote for something they support, instead of use it as a bludgeon against their own colleagues.
In terms of the reconciliation bill, I think that's still a work in process. It's not going to be solved next week. The Senate -- the key senators that they need -- and that's Manchin and Sinema -- have not yet agreed to the deal.
So I think, as long as they hold out, and they're still negotiating, you won't see the infrastructure bill. So I expect this to stretch for several more weeks.
CAVUTO: Several more weeks. All right, we will watch it closely.
Congressman Cole, very good seeing you. Have a safe weekend.
Want to go right now, fair and balanced, to Congressman Ro Khanna of the beautiful state of California, kind enough to join us.
Congressman, what's your read on this and where and what progress your Democratic colleagues are making?
REP. RO KHANNA (D-CA): Well, look, I respect Representative Cole. I just have a different view.
I believe we're very close to having both bills pass. We will have a significant investment in infrastructure, including our ports, to deal with...
CAVUTO: When you say both bills pass, sir, does that mean they will be handled separately, and your preference is for that, not to combine?
KHANNA: That means that they will have a separate vote.
CAVUTO: Right.
KHANNA: So, if a Republican doesn't want to vote for universal preschool, they can vote no on that, and they can vote yes on infrastructure.
They will have a separate vote, but they will move around the same time. And the reason for that is, that's what the president wanted. I mean, he came to the caucus. He put up two fingers. He said he wants both bills to pass. It's what he campaigned on, the Internet to rural America.
CAVUTO: But something fell through.
I just get the impression, I don't know, did something fall through? Was the president not persuasive enough? Is there still disarray? There was talk on again and off again that there might be an infrastructure-only vote last night. That frittered away, that Nancy Pelosi just can't get the votes there.
And so things are being shelved willy-nilly. The two sides are fighting. What's going on?
KHANNA: I know the media loves that story.
But I think the president was actually very clear. He came. He said, look, we have got about a week to 10 days that are really going to matter for my presidency. This is consequential. I need your votes, I need your votes on both bills. Here's why the infrastructure bill is good. It's going to mean more money for ports. It's going to deal with supply chain disruptions.
It's going to mean Internet for rural America. Here's why the Build Back Better bill is good. It's going to mean universal preschool for everyone. It's going to mean child care is covered. It's going to mean massive investments in solar and wind. And I want your support for both.
And we're going to get there within 10 days. I mean, it's something that will get done.
CAVUTO: So, you think we're going to get there within 10 days, and this idea that this could drag on indefinitely is wrong.
But the impression was yesterday before the president jetted off to Rome that something was going to start happening within 24 hours. That didn't happen. Why?
KHANNA: You know, Neil, that's because -- and you know this. You have covered the Hill a long time.
Members start leaking. Everyone wants their own view, I'm not denying that there's some members in our caucus who would love to have the vote on infrastructure happen. And so they built that up. And the media ran with it. But that wasn't the president's view. And...
CAVUTO: Well, the media is also running with the story that -- Congressman, that the progressives are ruling the roost here, and maybe potentially grabbing potential defeat from the jaws of victory.
What do you think?
KHANNA: That's not true.
Look, if the progressive position was we're going to insist on the original number and not accept the president's framework, that would be fair. But the progressives have said, the framework is good. We are willing to compromise. We are willing to vote yes on what the president wants.
Senator Manchin, Senator Sinema are saying, let's continue to good faith have the negotiations, wrap it up. That's what progressives are saying.
If this takes another 10 days, why is that the worst thing? I mean, don't we want to be careful and really get all the details right, and then deliver this for the American people?
CAVUTO: You know, I know you're in the House, Congressman. And you wouldn't probably want to weigh in on particular senators, but some of your colleagues have said of Kyrsten Sinema and Joe Manchin that they're not even real Democrats, and why are they even in the party?
Do you share that frustration?
KHANNA: Well, I have never been critical of Senator Manchin. We disagree, but he's been a straight shooter.
I have been critical of Senator Sinema. But it's not for me to say what party she should be part of. That's for her and the Arizona voters to say that. And it'd be highly presumptuous of me to say, so I...
CAVUTO: Well, what is it about -- what is about Senator Sinema? Is it her views on not wanting to raise the income rates and resistance to the Medicare expansion? What is it that particularly gets your goat about her?
KHANNA: You know, the thing that I had criticized her for is that she didn't appear on shows like yours, and she didn't talk to the media, and there wasn't a sense of transparency of where exactly she was coming from.
I believe now she is making more statements. I have heard that she's saying she's on board with the framework. So that's progress.
But I guess my view is, whatever your views, you have an obligation to take tough questions and share it with people. And that was my frustration in part of the process.
CAVUTO: All right, Congressman Khanna, thank you very much. Good seeing you again.
KHANNA: Always good seeing you.
CAVUTO: All right, in the meantime here: How important is this final vote, getting this package through nationally?
To Democrats, you hear it pretty much across the board, very important. But it could be crucial even a couple of days out to those two crucial races in Virginia and New Jersey.
Why that might be the case -- after this.
(COMMERCIAL BREAK)
CAVUTO: All right, well, it's looking dicey on the bigger spending bill, but, right now, the important one that a lot of Democrats want to see at least done and signed, sealed and delivered is the infrastructure-only bill. That could at least show that they have got something, particularly crucial ahead of the election just days away in Virginia and New Jersey.
Rich Edson right now with more on that out of Norfolk -- Rich.
RICH EDSON, FOX NEWS CORRESPONDENT: Hey. Good afternoon, Neil.
And this election has had a national flavor to it, President Biden campaigning for Terry McAuliffe earlier this week in Northern Virginia. It will be Vice President Kamala Harris here in the southeastern corner of the state in Norfolk, a Democratic stronghold. And they're going to try to get their voters out here.
Some Democrats have said that the concept or the idea that the Congress could pass the infrastructure bill and the social spending bill could give a boost to the Democratic candidates here in Virginia and in that gubernatorial race in New Jersey.
So we asked both Virginia candidates about this. McAuliffe told us that effect, he thinks, is overblown.
(BEGIN VIDEO CLIP)
FMR. GOV. TERRY MCAULIFFE (D-VA): I think significantly overblown. Nobody, nobody has asked me about what's happening in Washington. I mean, they don't blame us for it. They're really looking at local issues.
GLENN YOUNGKIN (R), VIRGINIA GUBERNATORIAL CANDIDATE: I just think what we're seeing in Washington today is the exact example of Terry McAuliffe and Joe Biden's runaway tax-and-spending philosophy.
And we have seen it in Virginia. I mean...
(END VIDEO CLIP)
EDSON: President Biden's approval rating in Virginia is underwater.
And McAuliffe's numbers have followed that trend. The latest FOX News survey puts Republican Glenn Youngkin at 53 percent to McAuliffe's 45 percent. That's an eight-point advantage. It's outside the poll's margin of error and also a flip from just two weeks ago, when McAuliffe was already ahead by five.
Now, part of the dynamic here is, the state is reporting that there have been nearly a million votes already cast in this race. Early voting started in mid-September, back when the polls were much better for McAuliffe. In New Jersey, also an early voting situation there, but not quite as long as this one, that only started on September -- or October 23 on Saturday -- back to you, Neil.
CAVUTO: All right, Rich, thank you very, very much.
So, just how crucial is what's happening in Washington to what will ultimately go down in both these states, Virginia and New Jersey, on Tuesday?
Who better to ask than the brainiac pollster of brainiac pollsters, Frank Luntz.
Frank, good to see you.
How important is this whole spending debate in Washington to either of these states?
FRANK LUNTZ, POLLSTER: I don't think it's going to make an impact. In fact, I look at it in the other direction.
If the Republicans managed to beat the equivalent of an incumbent in Terry McAuliffe, that's going to be a signal to everyone who studied elections over the last 25 years. Virginia is a bellwether. Virginia is a leading economic indicator in politics.
If the Republicans can win there, despite McAuliffe's spending advantage, and despite him having already been governor of Virginia for four years, that tells me that we should be all running over to London to place bets on the Republicans in congressional races in 2022.
Now, it is true that the dysfunction in Washington spills over to Virginia. It is also true that anywhere up to 25 to one-third of the Virginia vote works either in Washington or the suburbs of Washington. That said, this race, as McAuliffe says himself, is very much a local race.
Education is playing a an outsized role there. And I'm watching the polls. One last point, Neil. The candidate that has the momentum is about 80 percent of the time that candidate that wins, and in every survey -- none of them have the margin that the FOX News poll has, but every survey shows Youngkin gaining over the last 10 days.
That suggests he's probably got an 80 percent chance of winning this election.
CAVUTO: So let's switch to New Jersey right now. And, of course, there, the polls are a little wider in the incumbent governor's favor.
But what's fascinating about New Jersey and what's happening -- it's the bluest of blue states, but the governor has come down mightily from the 26- to 30-point advantage you have in the summer. And what's really interesting about New Jersey is, any Democratic governor has tried to get reelected, the last time it's happened is back in 1977 with Brendan Byrne.
And I'm wondering why that is. The governors who have been reelected, at least in recent history, Chris Christie, Christine Todd Whitman, why is that? What's going on in New Jersey that we should watch, maybe not overthink? What?
LUNTZ: Well, New Jersey is a Democratic state, and it votes Democratic in every presidential race. It votes Democrat in statewide offices except for governor.
And so it is so hard for a Republican to do well. That Republican has to be different. Christine Todd Whitman brought over moderate voters. Chris Christie brought over blue-collar voters, working-class voters, and they have to have this ability to extend their appeal across the traditional Democratic lines.
Now, the problem here is that, yes, the votes, the margins have come down. But it is so hard in New Jersey for a Republican to get those last 3 or 4 percent. Virginia is a Democratic state and has been in presidential races for the last two decades. But, on statewide races, they still vote Republican. New Jersey does not do that.
It's been a long time since he jersey elected a Republican to the Senate.
CAVUTO: Yes.
LUNTZ: And Chris Christie was just -- he was his own guy. And that's not - - I don't believe that's what is going to happen.
CAVUTO: Yes, he was definitely -- no, you're right. He was definitely an anomaly.
Real quick take on how important these two contests are to teeing up the midterms. Do they have that effect, or do we make a bigger deal of it in the moment?
LUNTZ: We will make a bigger deal of it, except that it is the greatest indicator.
If Virginia goes Republican, you can -- you can't bet on it, but that is a great indication of what's going to happen in House races, because Virginia is three different states. It's Washington, D.C., it's Richmond, Virginia, and it's South Carolina.
And if the Republicans get a majority there, it says that Republicans can win nationwide. And, by the way, Neil, it is going to be a wakeup call for Democrats that their spending is too much, their tax increases are too much, their programs are too much.
Even though that's not been an issue in Virginia, there is a sense that people are fed up with the government, they're fed up with Washington, they're fed up with Richmond, they're fed up with their own government, and they want elected officials who listen to them for a change. And that's why I think this election is so important.
CAVUTO: All right, we shall see, well, 72 hours or so to go.
Frank, good catching up with you, Frank Luntz, following all those developments.
By the way, in case you didn't hear, the FDA has indeed authorized Pfizer's COVID-19 vaccine for kids as young as 5. Are you in? Would you do this for your kids?
We will get the read on how important it is or maybe not -- after this.
(COMMERCIAL BREAK)
CAVUTO: All right, here's an interesting statistic on Halloween.
A record $10 billion will be spent when all is said and done before the last little ghosts leave Sunday night. Why is that?
After this.
(COMMERCIAL BREAK)
CAVUTO: All right, we got the OK from the FDA today that, if you want to get your kid vaccinated, and Pfizer's vaccine is out there for kids as young as 5, have at it.
Now, of course, the CDC has to weigh in on all of this.
But let's get to Dr. Bob Lahita, the director of St. Joseph's Institute for Autoimmune and Rheumatic Diseases, what he makes of all of this.
Doctor, good to see you again.
DR. BOB LAHITA, ST. JOSEPH UNIVERSITY HOSPITAL: Good to see you, Neil.
CAVUTO: So, let's get to the notion of kids as young as 5 getting vaccinated. Where are you on this?
LAHITA: Well, I think it's a great thing; 28 million children between the ages of 5 and 11 are out there; 25,000 pediatricians, hospitals, pharmacies, community centers, school clinics are all geared up to give the kids the shot.
Fifty percent of children, you know, Neil, are asymptomatic, but they can still transmit the virus. So we're worried about Thanksgiving and Christmas, when the little ones get together with the big ones, and the big ones are all vaccinated and the little ones are not.
So it could be a very interesting situation.
CAVUTO: So, early, on in the COVID rise, Doctor, I remember a lot of people say kids are not carriers. They didn't put it so bluntly.
But now there is a concern that they could be, and hence this push to get them vaccinated, not only for themselves, but obviously those around them. What changed?
LAHITA: Well, we have always worried about this young population.
And you know that these children have always been liable to be infected. They're usually asymptomatic. And teachers, for example, and people in schools are concerned that the kids can transmit the virus from one to another and certainly to their adult teachers.
And if the teachers are not vaccinated, they're at significant risk. So, in week one, which is next week, 15 million children, using smaller needles and usually about one-third of the dose -- that's 10 micrograms, instead of 30, which is given to adults -- these kids will get these shots.
Now, good luck and hoping that the parents come forward with them. About 30 percent are enthusiastic. And God knows what the rest of the population feels about immunizing little children.
CAVUTO: You know, where are we on this right now? I know cases have dropped precipitously in the country, I know down about 20 percent in the last 5 weeks. So that is encouraging.
Globally, it's a different stories, as you know, Doctor, where spikes in countries like Russia and much of Eastern Europe are at all-time highs. So, lay out how the fall and winter look right now.
LAHITA: Well, in the wintertime, we worry about surges of this virus. It's very true that people gather in warm places.
And we're -- we have a large number of people in our population who are vaccinated. And that's very comforting. Of course, like you mentioned, in Russia, they're having a tremendous spike right now of deaths, daily deaths, and other parts of the world where the vaccination rates are less than 30 percent.
Here in America, we're over 75 percent vaccinated at this time, which is good news for everybody, particularly in the metropolitan areas. So I'm looking forward to a very healthy holiday season.
CAVUTO: Knock on whatever.
Dr. Lahita, great seeing you again. Thank you so much.
LAHITA: Thank you, Neil.
CAVUTO: All right, we have a lot more coming up, including how we're looking kind of, oh, I don't know, like the dinosaur era again when it comes to priorities on climate? What?
(BEGIN VIDEO CLIP)
UNIDENTIFIED ACTOR: Going extinct is a bad thing. And driving yourselves extinct in 70 million years, that's the most ridiculous thing I have ever heard.
At least we had an asteroid.
(END VIDEO CLIP)
(COMMERCIAL BREAK)
(BEGIN VIDEO CLIP)
UNIDENTIFIED ACTOR: You're headed for a climate disaster. And yet, every year, governments spend hundreds of billions of public funds on fossil fuel subsidies.
Imagine if we had spent hundreds of billions per year subsidizing giant meteors. Don't choose extinction. Save your species before it's too late.
(END VIDEO CLIP)
CAVUTO: All right, the United Nations came up with this, all part of an effort right now, an anti-fossil fuel campaign ahead of a big climate summit.
Let's go to Tom Kloza, the OPIS global head of energy.
Tom, did that dinosaur when you over?
(LAUGHTER)
TOM KLOZA, OIL PRICE INFORMATION SERVICE: I don't know, Neil. There's so much disinformation right now about the energy transition that I would say no.
I think that what people need to recognize is that you can get seduced by the notion that we can move off fossil fuels in a few years. It's really going to take a couple or a few half-decades.
And what we have seen in Europe and what we have seen in portions of Asia, with screaming high natural gas and electricity prices, is emblematic of that.
CAVUTO: You know what's weird, though, Tom?
I mean, even if you're into all these alternate energies -- and I say have at it. Go full and knee-deep in all these other technologies, wind and solar, even nuclear. I mean, but don't leave out the one thing that we have abundantly in this country and now has us sort of begging with tin cup in hand for OPEC and OPEC Plus countries to increase their oil production.
By all means, have at these alternatives, but not at the expense of these traditional energy sources that had put us in a pretty good position until the last few months now that has us in hock to some nefarious characters.
KLOZA: Yes, we're still in a good position, though. I said years ago that we were the privileged continent. I mean, the price of natural gas is a fraction of what it is overseas.
And the price of things like hydrogen, which you use in the fossil fuel process, is much cheaper as well. So compared to the rest of the world, we got it pretty good. The question is, how fast do you move?
Because I'm like you. I mean, I think that if everybody had an electric car, and we had plenty of electricity at reasonable prices, it would probably be much better for global warming. But it's going to take a while to get there.
CAVUTO: I'm just wondering where ultimately this climate change push goes?
Because I think the more immediate issue for certainly many Americans who see it everyday at the pump is the price change. By all means, look at climate change, get a sense of the severity of it, I get that, but certainly acknowledge the price change you're seeing at the pump, because you can't, I think, address one without the other.
KLOZA: Well, gasoline prices are the third rail of American politics. And so that's one of the reasons why, next year, I think prices are going to be lower than they are this year.
Probably on the back channels with Saudi Arabia and some of the other Middle Eastern allies of the United States, there's a lot of lobbying going on right now for additional oil. The question is, can they convince them? And will the producers, who can make tremendous profits right now overseas and in the U.S., will they get seduced by the numbers and increase production again?
Right now, they have been very disciplined, but that discipline traditionally gives way to more robust production.
CAVUTO: Very good point.
Tom, thank you very much, Tom Kloza, OPIS global head of energy analysis, just calling for just everyone to step back, look at the overall big picture here. Don't villainize one source of power over another.
You know Halloween is coming this weekend, but there's some scary stuff, literally very, very scary stuff, going on, on Capitol Hill.
And doesn't our Chad Pergram know it?
(COMMERCIAL BREAK)
CAVUTO: So, you think spending in D.C. is scary.
Well, as our Chad Pergram will tell you, there's a lot more scary stuff there that you probably don't know -- Chad.
CHAD PERGRAM, FOX NEWS CONGRESSIONAL CORRESPONDENT: Neil, I work in a haunted place. You have been to a haunted house, but how about a haunted House and Senate?
(BEGIN VIDEOTAPE)
PERGRAM: When people come to Washington, they bask in the grandeur of Capitol Hill.
But, for this journey, we will go deep into the Capitol catacombs for tales of the congressional macabre.
(voice-over): The U.S. Capitol is a seemingly haunted place, mysterious sounds of a custodian who passed on. Some can still hear her scrubbing the floor is late at night.
Or you might hear Pennsylvania Senator Boies Penrose in a rocking chair reading the bills late at night. The military converted the U.S. capitol into a field hospital for Union soldiers during the Civil War. Some have reported sightings of those soldiers wandering the building even today.
STEVE LIVENGOOD, U.S. CAPITOL HISTORICAL SOCIETY: Some of them have continued to stay here. A lot of soldiers died here. And they were very idealistic at that point. And their spirits would be here.
PERGRAM: Joe Novotny just retired from the House after 30 years. You have seen him on C-SPAN as the House reading clerk. And Novotny has observed some weird things in the House chamber late at night after everybody else is gone.
JOE NOVOTNY, FORMER HOUSE READING CLERK: All of a sudden, in the well of the chamber, like directly in front of me, I see a man walk in front of me. And I look up immediately to see who it is. And there was nobody there.
You tell yourself, is this real? But it was -- it was vivid.
PERGRAM: But towering above all Capitol ghost stories is the legend of the Demon Cat which prowls the Capitol. It appears before national emergencies, such as when the British burned the Capitol in 1814, the Civil War, Pearl Harbor Kennedy's assassination.
Its footprints are purportedly visible in the Capitol's Senate wing, but, supposedly the Demon Cat also signed its name.
(on camera): In an obscure congressional stairwell, you will find this.
Now, does that stand for District of Columbia, Direct Current, Detective Comics, or Demon Cat?
(voice-over): In another stairwell, you will find the blood of Kentucky Congressman William Taulbee. Newspaper reporter Charles Kincaid shot and killed Taulbee there after a dispute in 1890.
Taulbee's ghost is said to lurk around the Capitol, periodically tripping reporters as revenge.
(on camera): Is that maybe why I was tripped on a Capitol stairway not far from there when I tried to get a word with Justin Trudeau?
SAM HOLLIDAY, U.S. CAPITOL HISTORICAL SOCIETY: It sounds absolutely plausible. And it sounds like you were fortunate to escape as unscathed as you were.
PERGRAM (voice-over): Holliday says Capitol ghost stories are history by another name.
HOLLIDAY: It's popular history. It's a way that people can remember, sometimes misremember. But it's a way that they can remember figures and events from the past.
(END VIDEOTAPE)
PERGRAM: Any 200-year-old building is going to have ghost stories, and the U.S. Capitol is no exception.
On Capitol Hill, Chad Pergram, FOX News.
CAVUTO: Chad's been working very, very hard. That's an understatement.
That's interesting, very, very interesting.
You know what else is interesting? We're just learning now that some major airlines, some major airlines are resuming, are resuming right now hard liquor sales. So, what could possibly go wrong?
After this.
(COMMERCIAL BREAK)
CAVUTO: All right, a couple of developments were keeping a very, very close eye on, certainly around this period, Halloween, is just how many of us are into it.
I'm talking $10 billion into it here. Some of this kind of money rivals what we spend at Christmas. What's going on here?
Abby Hornacek joins us, FOX Nation host. We got Jimmy Failla back with us, "FOX Across America," much, much more.
Guys, thanks for coming to talk about this, because I was startled, certainly, Abby, with the money we're spending. And it's particularly high among young people. So what's going on here?
ABBY HORNACEK, FOX NATION HOST: Yes, well, Neil, people just want to have fun, right?
The National Retail Federation says that over 65 percent of Americans will be celebrating Halloween. That's up from 58 percent last year. And of those people celebrating Halloween, they're expected to spend around $100 on costumes, candy, and decorations.
Now, I have spent a little bit more because I'm trying to be Jimmy Failla for Halloween, so got a really dig into the pocketbook.
(LAUGHTER)
HORNACEK: But, look, people don't just like to dress themselves up. They like to dress their pets up. And so one in five Americans say they're going to be dressing up their pet.
Then, when it comes to the candy, that's up. Or it's forecasted to be up, the prices -- or the purchases, rather, 10 percent, with 2.5 percent inflation. I know I threw a lot of numbers at you. So just mix all those numbers up in a cauldron.
CAVUTO: No, no, no. There you go.
HORNACEK: And you have a potion for an expensive Halloween, Neil.
CAVUTO: I always wonder too, Jimmy, looking at this, what drives people to go to these ends, especially -- it's the one thing dressing up and all.
When they dress their animals and pets up, that begins to kind of weird me out. But, look, whatever you're into. What do you think of this?
JIMMY FAILLA, HOST, "FOX ACROSS AMERICA": Yes.
Well, first and foremost, Abby, if you want to be Jimmy Failla, you got to be a lot worse with math than you are. Dial it back a little bit.
(LAUGHTER)
HORNACEK: I had to buy myself a cab.
FAILLA: There it is.
Neil, I have a theory that the reason we're spending so much more this year is, people don't know if it's going to get here on time for next year with the supply chain.
CAVUTO: There you go.
FAILLA: So I think we're seeing a double spend. I think we're seeing a double spend on Halloween.
But, seriously, just when you thought people had enough of wearing masks. What I think this is attributable to is I think so many people just hate their lives right now and the year we have endured that they do want a little bit of escapism, and I do think that's what's going on.
That being said, your dog does not want escapism. I heard that stat that one in five people dress up their dog. The other four people care about their dog. Those Instagram likes might feel good to you, but, believe me, your dog's self-worth as Buzz Lightyear are not feeling good to him. They are plummeting.
(LAUGHTER)
CAVUTO: Yes, my dog told me: I'm not putting this on unless you put this on.
(LAUGHTER)
CAVUTO: Abby, one of the things that is interesting here -- and he raises a very good point here, that a lot of people are concerned whether they will even be able to get presents under the tree.
Now there's a real concern about whether they will be able to get their tree. So this is one thing that looks like a sure thing, so you might as well go full-throttle Halloween. What do you think of that?
HORNACEK: Well, yes.
I mean, I know my mom was like, hey, send me your Christmas list now, because there are supply chain issues. We look at Thanksgiving coming up. It's estimated to be our most expensive Thanksgiving in the history of the meal or the history of the holiday.
And so, yes, I think that people are probably just looking at what's immediately in front of them. And that's Halloween, and then it's Thanksgiving, and then it's Christmas. So they're like, let's just go all out now, just in case that shipment doesn't come over to us because of the supply chain issues.
CAVUTO: You know, guys, if you don't mind me switching gears, this caught my attention. And I thought, boy, Abby and Jimmy would be all over this development.
Major airlines are going to resume selling hard liquor as soon as next month.
So, I'm thinking about that, Jimmy, and say, what could possibly go wrong? What do you think?
FAILLA: I have -- Neil, I have a contrarian take. I actually think bringing back booze is going to help us on flights in terms of violence. Here's why.
Right now, they don't sell booze on the plane. So everyone does all of their drinking before they get on. It's like going to a college football game that doesn't sell beer, right, Neil?
CAVUTO: Ah.
FAILLA: So everybody gets on the plane at a weapons-grade level of intoxication to hold them over to the flight.
(LAUGHTER)
FAILLA: If -- think about it, Neil.
If you get on and just progressively get drunk on the way there, there's less exposure to toxic intoxication. And this is the thing. The real source of violence on planes, Neil, is not alcohol. It's not even mask mandates, as agitating as they are.
It's that there's no dignity in flying coach anymore. You're not even flying coach, Neil. You're flying assistant coach.
(LAUGHTER)
FAILLA: There's like 77 boarding classes. You know what I'm saying?
There's no room in the aisle. You got a guy next to you trimming his toenails. But you don't say anything, because you don't want to piss off his emotional support llama. If they brought back the dignity to flying, alcohol is a nonfactor, Cavuto.
(LAUGHTER)
CAVUTO: All right, Jimmy, you have some serious issues.
(LAUGHTER)
CAVUTO: But, Abby, let me ask you that.
The one thing that ticks me, angers me is the guy who puts the seat back in front of you.
FAILLA: Oh.
HORNACEK: Oh, gosh.
CAVUTO: And then it's like in your lap and all that stuff. So that could set me off.
But I'm wondering. This idea that people might drink less before getting on the plane if they know they will be able to get a drink on the plane, what if they don't? What if they just double-barreled it?
(LAUGHTER)
HORNACEK: Well, I just want to say it's impossible to follow Jimmy Failla's logic right there.
But, yes, I do think that this is a good point that he brings up. The only problem is that we get more and more flight delays because pilots aren't coming, people are going on protest because of vaccine mandates.
CAVUTO: True.
HORNACEK: So there's more time in the airport ahead of time.
But, to Jimmy's point, if they just sold alcohol on flights, like they have been since 1949, maybe people will be more responsible. I'm hoping that the basic humanity of people comes back, knowing that we're not in the height of this pandemic anymore. They're dealing probably with less syndrome of being cooped up.
FAILLA: Yes.
CAVUTO: All right.
HORNACEK: So let's hope that bringing back alcohol doesn't lead to a drunk Jimmy Failla stumbling down the aisle.
FAILLA: Stop it.
CAVUTO: Oh, we don't want to go -- no, we don't want to go there.
But I'm ready with a smartphone in case he does.
(LAUGHTER)
CAVUTO: Abby, Jimmy, want to thank you both very, very much.
So, this is something to look forward to, booze on flights. Things are getting back together in this country.
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