WILL BE PAID MORE THAN POLICE
OFFICERS IN NEW YORK CITY.
>> Todd: TO FIGHT THE RATS.
>> TOUGHEST CAR EMISSION RULES
AIMS FOR 67% OF ALL NEW CARS TO
BE ELECTRIC BY 2032.
>> COMES AS A NEW POLL SHOWS
NEARLY HALF OF MEASURES SAY THEY
ARE NOT LIKELY TO BUY AN
ELECTRIC VEHICLE AS THEIR NEXT
CAR.
>> KEVIN O’LEARY CHAIRMAN OF O’LEARY VENTURES HAS PLANS TO
O’LEARY VENTURES HAS PLANS TO
BUILD A NEW OIL REFINERY IN
AMERICA.
PEOPLE DON’T WANT EV DOLLARS AND
PUTTING ASIDE THE FACT THAT WE
DON’T KNOW HOW THE ELECTRIC GRID
WILL HANDLE ALL OF THIS.
THIS FORCED DEMAND IS GOING TO
DRIVE UP THE COST OF THE AVERAGE
AMERICAN, MAKE IT IMPOSSIBLE FOR
THE AVERAGE AMERICAN TO BUY WHAT
IS NOW THEIR SECOND MOST
EXPENSIVE ASSET.
WHAT SAY YOU, KEVIN?
>> THE WAY I LOOK AT IT IS VERY
SIMPLE.
IN FIVE YEARS FROM NOW WILL WE
NEED MORE OIL OR LESS?
IN MY VIEW, MY OPINION AS AN
INVESTOR, MORE.
IN 10 YEARS FROM NOW, WILL THE
GLOBE NEED MORE OIL?
MY ANSWER IS MORE.
NOW, IF YOU ARE GOING TO USE OIL
FOR ENERGY INDEPENDENCE SOME WAY
OF REFINING IT.
WE HAVEN’T BUILT A NEW REFINERY
IN DECADES.
OLD TECHNOLOGY THAT AREN’T
NECESSARILY THAT CLEAN.
THERE IS ALL KINDS OF NEW
TECHNOLOGY THAT SEQUESTERS
CARBON MAKES PRODUCTION OF
DIESEL OF MORE PRODUCTIVE AND
MUCH CLEANER.
WHERE YOU CAN FIND THIS OUT IS
JUST GO IT CHINA.
THEY JUST COMMISSIONED A
$14 BILLION REFINERY, SO THEY
HAVE A VIEW THAT THAT THEY WANT
ENERGY INDEPENDENCE THEY HAVE
IMPORT OIL BUT THEY HAVE TO
REFINE IT.
I DON’T KNOW ABOUT THE ISSUE
AROUND ELIMINATING HYDROCARBONS
AROUND OUR ECONOMY.
I THINK THAT’S A FANTASY.
I THINK IT’S ADMIRABLE BUT
UNREALISTIC.
I THINK WHAT A IS A GOOD
BIPARTISAN ISSUE IS ENERGY
INDEPENDENCE.
AND SO, YOU KNOW, I’M LOOKING
FOR SOMETHING TO DO.
AND I THINK BUILDING A REFINERY
IS A BIG MONUMENTAL TASK.
IT WON’T BE EASY TO DO THIS BUT
I KNOW HOW TO DO IT.
>> Ashley: IT’S GOING TO COST,
WHAT, $14 BILLION?
THAT’S WHAT WE DO IN OUR PAST
TIME THAT’S WHAT KEVIN O’LEARY
DOES IN HIS PAST TIME.
I LOVE IT.
I DO HAVE TO GET TO THIS.
COMPANIES ARE NOW OUTSOURCING
JOBS TO FOREIGN COUNTRIES DUE TO
LABOR SHORTAGES.
10% TO 20% OF LABOR FORCE JOBS
COULD MOVE OVERSEAS IN THE NEXT
DECADE.
WHAT HAPPENS TO AMERICA IF THESE
COMPANIES KEEP OUTSOURCING THESE
JOBS?
>> IT’S THE MARKET BEING THE
MARKET.
THE FACT IS AND, YOU KNOW, IF
YOU GO TO NEW YORK CITY GREAT
PLACE TO USE AS INDEX.
ABOUT 20% OF THOSE OFFICE SEATS
THAT WERE BEING SAT IN
PRE-PANDEMIC ARE EMPTY.
THERE IS LOTS OF GHOST BUILDINGS
WHERE YOU HAVE EMPTY FLOORS.
THAT’S THE REALITY OF THE
MARKET.
MOST COMPANIES GLOBAL AND
DOMESTIC FIGURED OUT YOU CAN
ACTUALLY OUTSOURCE JOBS AND HAVE
PEOPLE WORKING REMOTELY AND THE
PEOPLE THEMSELVES INCLUDING IN
NEW YORK STATE THEY WON’T WANT
TO COME INTO THE CITY.
IS THIS IS A PHENOMENON
HAPPENING ALL AROUND THE WORLD.
IT’S NOT A BIG PROBLEM.
A LOT OF THE JOBS THAT ARE
CREATED HERE ARE BEING DONTE
LOWER COST AND WE TALKED ABOUT
DEGLOBALLIZATION.
IT’S NOT TRUE.
WHAT’S HAPPENING NOW AND EVEN IN
MY COMPANIES OVER 50 OF THEM
ABOUT 40% OF THE SEATS ARE NO
LONGER IN HEADQUARTERS.
BUT THE GREAT OUTCOME OF THIS,
AND I HAVE TALKED ABOUT THIS FOR
QUITE A WHILE, IS THE
COMPETITION OF STATES.
BECAUSE NOW YOU DON’T HAVE TO
SET UP IN PLACES WHERE TAXES ARE
HIGH, REGULATIONS ARE UNSTABLE.
YOU CAN MOVE YOUR JOBS OUT OF
CALIFORNIA, OUT OF
MASSACHUSETTS, OUT OF NEW
JERSEY, OUT OF NEW YORK.
OUT OF, YOU KNOW, ANY STATE THAT
YOU FEEL DOESN’T MAKE SENSE.
I’M SITTING IN TENNESSEE RIGHT
NOW.
WE DON’T HAVE ANY STATE TAX
HERE.
>> Todd: MY GUESS IS O’LEARY IS
NOT GOING TO MOVE OIL REFINERY