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Against the intelligence committee. >> the fact opec including saudi arabia and russia cut prices because the u.s. was producing so emergency. a piece in the "wall street journal" shows almost the entire decline in oil prices comes from ramped um u.s. production. you said, we're number one in the world. also 12 million barrels a day. in a position we've not been in since larger producer than saudi arabia and russia and have the most oil in the ground of any country on the planet. so it's us. it's not them. they have recently upped their output as has russia but this is largely a function of wh...

>> thanks. it's good to see you as well. >> the president's quoting 450 million -- >> billion, actually. >> i don't know how many jobs he's quoting. he's worried we'll lose the business to china and russia. but they don't make any equivalent to the military hardware and systems the saudis use. >> correct. and he has insisted that we've sold them or they've agreed to purchase $110 billion worth of arms from the u.s. they've purchased 14.5 billion. so that's factually incorrect. he has suggested that they've been creating jobs in the united states. we have much bigger trading partners than saudi...

Refused to take action against saudi arabia despite the cia's high confidence assessment that the crown prince ordered the murder of "the washington post" journalist jamal khashoggi. trump defended his position for economic reasons, claiming the u.s. would lose a multibillion dollar arms deal and oil prices would spike. today trump doubled down on that message, tweeting oil prices getting lower, great, like a big tax cut for america and the world, enjoy. $54, was just $82. thank you to saudi arabia but let's go lower. okay, there's a lot to unpack there. "the washington post" fact checked that...

Hardware and systems the saudis use. >> correct. and he has insisted that we've sold them or they've agreed to purchase $110 billion worth of arms from the u.s. they've purchased 14.5 billion. so that's factually incorrect. he has suggested that they've been creating jobs in the united states. we have much bigger trading partners than saudi arabia. they're very much a blip on the radar screen. it's true that they buy u.s. treasury bonds. they recycle their oil profits back into u.s. bonds on occasion. or u.s. real estate. but you know, canada, mexico, china, europe, japan all much, much bigger...

Global economic growth and a u.s. china trade war as well as a rise in u.s. oil production and u.s. exemptions to sanctions on iranian oil. the u.s. has substantially increased its domestic oil production over the last decade. take a look at that chart. that's because of the fracking revolution. and last year only 49% of u.s. imports actually came from saudi arabia, according to the u.s. administration, 40% of american oil comes from canada. so saudi arabia is not the reason for our low oil prices, nor are they paying us the hundreds of billions of dollars or creating the hundreds of thousands...