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>> the well off in this country, high gas prices are mostly an annoyance, but to most americans, they're a huge problem. bordering on a crisis. >> steve: so if that was a crisis, then what is this that we have right now? the average price for gas this week that senator obama gave his speech was 3.50 per gallon. today it is at 3.78 a gallon. in the past he's blamed big oil companies for the spike. so let's talk to the oil company. john huffmeister is a former ceo of shell oil and joins us today. good morning to you, sir. >> good morning. >> steve: okay. so the president also this week said some...

Reporter, the president said, quote, unfortunately, because of world wide demand, oil prices are going to keep going up and down until we put in place some of the energy saving proposals i talked about in the state of the union. but. >> steve: how are the policies work out for taxpayers so far? let's talk to stuart varney who replies, not so much. >> i hate to be harsh first thing on a friday morning, but the president's energy policy is a grosses failure and we're paying for it. the price of gas has doubled, gone from 1.84 to 3.78 as of right now. >> brian: i had 4.55 by my house. >> you driv...

Salmonella tainted peanuts that ultimately killed nine people. the justice department says the charges should warn the food industry to put safety first. now this morning also a consumer alert, especially if pork sausage is on your menu. smithfield is recalling 38,000 pounds of mild pork sausage. the packages contain pieces of plastic probably from workers' gloves. it was produced on january 11 and sold in 11 states and d.c. consumers should contact those stores if they want a refund. gasoline prices are still heading up. the average price is $3.78 a gallon, almost half a dollar more than ...

Gigantic margin, think we have a spending problem in this country. you say washington is on a spending binge. so going forward, once it hits, and it will his on march 1, how many people are going to actually be sympathetic? >> the amazing thing is the president's approval rating is the highest since 2009. >> that's the cognitive disdense. one of the things, of course, that really affects the economy and how you feel about it, gas prices. have you noticed that they are really high right now? they are the highest they have been in the past three years. so take a look at this. the national gas pr...

Detective and ask how so much could go so long so quickly and whether this guy is now likely to get off on a charge that just 48 hours ago looks to be dropped? new developments in the troubling trend for americans and the nation's economy. gas prices shooting up nearly 50 cents in 60 days, taking a huge bite out of americans who are already earning less because of the payroll tax we got hit with the beginning of the year. according to the triple-a, the national average for a gallon of gasoline is now, 3.78. so when your car has a 20 gallon tank it will cost you more than 75 bucks every time yo...