Ed. Note: Another O'Reilly absurdity - In the following interview transcript, read how Bill O'Reilly and FOX News business anchor Terry Keenan and Liz Claman claim that Venezuelans have stolen their own oil from the United States. Bill says that Chavez stole Venezuelan oil - which really belongs to the US! He says Chávez stole Venezuelan oil from US oil companies which were forced to repatriate their assets to the US. In addition, the trio tries and slam Joe Kennedy as a willing "pawn" of Chavez for giving low-cost oil to the poor in the US. This is almost satire in itself disguised as a news interview. -LMB
January 23, 2008
O'REILLY: In the "impact" segment tonight, the anti-American leader of Venezuela, Hugo Chavez, is using that country's oil in a very clever way. Venezuela, as you may know, owns Citgo. And that company is donating oil to the poor. Former Congressman Joseph Kennedy is right in the middle of that.
UNIDENTIFIED MALE: There's another war going on, a silent war. Its battles are fought by children, the elderly, the poor, and the sick. It's a war against women in homes with no heat. Yet our own government cut fuel assistance. And the big oil companies with oil and money to burn all said no when we asked for help, all but one, Citgo, owned by the Venezuelan people. It's donating millions of gallons to non-profit Citizens Energy.
Some people say it's bad politics to do this. I say it's a crime against humanity not to, because no one, no one should be left out in the cold.
O'REILLY: All right, with us now to analyze, FOX News business anchor Terry Keenan and Liz Claman.
This is similar to what we just did with the homeless vets in the sense that there's a big issue here about poor people in America not being able to heat their homes. And we can't have that. But is this accurate? Is what Kennedy's saying accurate? All the big American companies said no, but Hugo Chavez ran to the rescue.
LIZ CLAMAN, FOX BUSINESS NETWORK: I think in 2006, Bill, you had 12 senators asking the top 10 oil companies to donate oil for the poor. Only Citgo, which is a wholly owned subsidiary of the Venezuelan oil company, said yes.
O'REILLY: So that's true.
CLAMAN: That side is true.
O'REILLY: All of the greedy U.S. oil companies, which I have been pounding in -- on an almost daily basis, they said we don't care whether people are cold or not. Even though they're making unbelievable amounts of money.
CLAMAN: Well, I think that their silence probably spoke volumes to somebody like Joe Kennedy. And here comes Citgo.
O'REILLY: Speaks volumes to me. And I'm not -- you know, Joe Kennedy, I just want to know the truth. But if you're making -- you know, what are they making, $40 billion a day or something, and you can't get some oil.
CLAMAN: Huge profits.
O'REILLY: Right.
CLAMAN: And getting government subsidies, by the way.
O'REILLY: All right, so that is accurate. Now Hugo Chavez, is he a good guy here?
CLAMAN: Well, he probably definitely wants to make it look like he is. I mean, here comes Citgo to the rescue. Venezuela donating millions of gallons of heating oil to he poor in the Northeast. We're talking about Massachusetts, Vermont. And a lot of these people are desperate.
O'REILLY: So he's actually doing a good thing.
CLAMAN: You could say he is.
O'REILLY: All right, what do you think?
TERRY KEENAN, HOST OF "CASHIN' IN": Oh, that's such a crock. I mean, if he's looking for poor people, if Joe Kennedy were looking for poor people, they'd have to look no further than Venezuela, where 37 percent of the people are under the poverty level. They can't get the basics of milk or eggs.
Hugo Chavez repatriated the assets of American oil companies last year. Conoco and Exxon lost billions of dollars as Chavez took all the American oil assets. That affected your 401-K, my 401-K.
O'REILLY: OK, so he nationalized all our stolen...
KEENAN: He nationalized stealing our oil assets and then giving Americans 45 million barrels, which is only...
O'REILLY: OK, let me get this straight. Don't outrun your coverage here. So you say -- there's no question both of you admit that Citgo has given oil to the poor.
CLAMAN: Yes.
O'REILLY: And the others aren't?
CLAMAN: Yes.
KEENAN: Yes.
O'REILLY: OK, all right. But you say that Chavez is a thief and a bandit. He stole all this oil. And now he's trying to make himself look like a good guy by giving some of it back to Joe Kennedy, who is a willing pawn?
KEENAN: Well, I'm not sure whether he 's a willing pawn. He certainly looks like it in this gambit in these ads.
O'REILLY: But wouldn't you take Kennedy running that concern? Wouldn't you take Chavez as well?
KEENAN: I guess he's giving the oil. So yes, but other parts of the commercial are not true. Federal assistance has actually gone up. And it's 26 times the federal assistance that poor people get to pay for their oil bills, which is granted to the states and they can distribute it if they want.
O'REILLY: All right, so the federal government is doing its part.
KEENAN: Exactly.
O'REILLY: It's the greedy private oil companies. Oh, I don't like them. Oh, I don't like them. OK, now ladies, what is going on with the stock market?
CLAMAN: I call it the Matterhorn from the ride at Disneyland.
O'REILLY: But let's -- look, I don't want to do the Neil Cavuto thing. He's so smart. I don't understand what he's talking about. You know, that Cavuto's a brilliant man. But everybody out there has got 401- K's and this and that. And it's down 400, it's up 300. So tell the folks what exactly they should do, nothing, buy, sell? Claman?
CLAMAN: Boy, I'll tell you something, since 1930, the stock market has been the place to put your money. Some years bad, some years good. But over time...
O'REILLY: Just leave it there?
CLAMAN: ...it's always returned more. It's called dollar cost averaging, which is a fancy way of just keep shoveling a little bit in every single paycheck.
O'REILLY: No matter what?
CLAMAN: No matter what.
O'REILLY: What do you say?
KEENAN: I say that we're probably in a bear market. Most of the world markets are in a bear market. Bear markets have violent upswings, violent down swings. At the end, you're 25 percent lower than where you began, generally. So you have to be very careful. You might want to get rid of some of your dogs when the market goes up.
O'REILLY: Those are bad stocks, not Schnauzers.
KEENAN: Exactly.
O'REILLY: OK.
KEENAN: And you might want to make a list of some good stocks, because there are some stocks that are getting cheap.
O'REILLY: All right, so prune the things that haven't performed, even in the low market, right? Now why would the market...
KEENAN: Yes.
O'REILLY: If we're in a bear market, which means that it's not a growth situation -- and I'm only saying this because I know there are people watching that don't know as much as Neil Cavuto does -- why would it go up 300 points today? Why if everybody is panicking would it go up 300?
KEENAN: Well, typically these periods we call that bear markets...
O'REILLY: Why today? Why, why, why?
KEENAN: People were buying a lot of the losers. They were buying beaten down stocks like Citigroup, the retailers.
O'REILLY: OK, so the vulture...
KEENAN: They're buying bargains.
O'REILLY: ...the people that are hovering were looking for bargains.
CLAMAN: They were on sale. Some of these stocks have gone down...
O'REILLY: On sale.
CLAMAN: ...and people panic and they say well, if it's cheaper, it must be bad. Look...
O'REILLY: Did you buy today?
CLAMAN: No, I did not buy. I was too busy working it. But if I could, I would.
O'REILLY: Did you buy stuff today?
KEENAN: No.
O'REILLY: Don't you have pinhead brokers that can do that for you? A lot of money, man.
CLAMAN: Yes, right.
O'REILLY: I bought a little stock today. I did.
CLAMAN: Good for you.
O'REILLY: I bought a little stock today. Because I do believe that in the long run, the big companies, the banks and this and that, will come back. And I -- you know, I'll sit on it.
CLAMAN: You're making the best bet.
O'REILLY: All right, ladies. Thanks very much. We don't like big oil. If you're listening, you should give to the poor people in the United States. Don't let Hugo Chavez do this.
Directly ahead, conservative talk radio in the presidential race, who is supporting whom. And later, Dennis Miller will weigh in on the right wing talkers and the Oscar nominees, upcoming.
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