President Biden's EPA unveiling the toughest ever car emissions rules that aim for sixty seven percent of all new cars to be electric by two thousand and thirty two. It comes as a new poll shows nearly half of Americans say they're not likely to buy an electric vehicle as their next CAR. Reporter: KIVEN O'RE CHAIRMAN OF OLEARU VENTURES HAS PLANS TO BUILD A NEW OIL REFINERY IN AMERICA. HE JOINS US NOW. WE'LL GET TO THE OTHER REFINERY IN A SECET BUT PUTTING ASIDE PEOPLE DON'T SEEM TO WANT EV. PUTTING ASIDE THE FACT, THOUGH WE HAVE NO IDEA HOW THE ELECTRIC GRID IS GOING TO HANDAL ALL THIS. MY BIG WORRY KEVEN, THIS FORCED TO MAN IS GOING TO DRIVE UP THE COST TO THE AVERAGE AMERICAN MAKE IT IMPOSSIBLE FOR THE AVERAGE AMERICAN TO BUY. WHAT IS NOW THEIR SECOND MOST EXPENSIVE ASSAENT. 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, in my opinion as investor, more. In ten years from now, will the globe meet need more oil? My answer is more. Now if you're going to use oil to get energy independence, you have to have some way of refining it. We haven't built a new refinery in America in decades. And the refineries we have are old technology that aren't necessarily that clean. There's all kinds of new technology that's requesters carbon makes production of oil, distill its diesel, jet fuel, etcetera, much more productive and much cleaner. And where you can find this out is just go China. They just commissioned a fourteen billion dollar refinery. So they have a view that they want energy independence. They have to import oil, but they have to refine it. Now, I don't know about the issue around eliminating hydrocarbons from our economy. I think that's to see. I think it's admirable, but it's unrealistic. And I think what 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. I mean, it's gonna cost what, fourteen billion dollars. That's That's what we do in our our pastime. That's what Kevin O'Leary does this pastime. I love it. Total O'Leary does, mister Munson. I do have to get to this though. Companies are now sourcing jobs to foreign countries due to labor shortages. So ten to twenty percent of US service support jobs could move overseas in the next decade. So, Kevin, what happens to America if these companies just keep outsourcing these jobs? It's the market being the market. The fact is, and, you know, if you go to New York city, which is a good place to use as an index, about forty percent of those office seats that we're being sat in pre pandemic are empty. There's lots of ghost buildings where you have empty floors. That's just the reality of the market. What happened is most companies, both global and domestic, have figured out during that three year period, that you can actually outsource jobs and have people working remotely and the people themselves, including in New York state, they don't wanna come into the city. So this is a phenomenon that's happening all around the world. It's not a big problem because a lot of the jobs that are created here are being done at a lower cost, and we talked about the globalization. It's not true. What's happening now and even in my companies over fifty of them, about forty percent of the seats are no longer in headquarters. But the great outcome of this, and I've 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 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. There you go. My guess is that O'Leary's not gonna move his oil refinery to California, New York. Maybe Texas. We'll see. Kevin O'Leary, THANK YOU, Fox and Friends begins right now. Have a good day. I'm Steve Ducey. I'm Brian Kilmeade. And I mean and click here to subscribe to the Fox News YouTube page to catch our hottest interviews and most compelling analysis.
