SANDRA SMITH (CO-ANCHOR): Big day for the markets, big day for oil, big day for this country and this invasion of Ukraine. Does banning Russian imports at this point have any impact on Vladimir Putin and his next moves?
LARRY KUDLOW (FOX BUSINESS HOST AND FORMER TRUMP ADVISER): Oh, I don't think so, particularly it's perhaps more symbolic. You are talking about 200,000 barrels a day, it's not nothing. That would be refined for gasoline purposes, the rest of it would be for distillates. Look, I think it's a good idea. Anything that can reduce cash flow going to Putin and his war machine is a good thing, ok, it's a good thing. I wish we had done it quite some time ago, to be honest with you. The trouble I had with the announcement was he took shots at the oil and gas industry, no price gouging, no excess profits. What he should be doing, and he's going to Texas (he could do it today but he's not), is meeting with all the fossil fuel people, it's the greatest industry in this country, it's the greatest industry around the world, and asking them to turn the spigots on full hog, as soon as possible, and say he will cooperate by reducing these regulatory barriers that are spread across the government.
SMITH: And by the way, if you even listen to the oil and gas industry they will very clearly and happily explain how they were able to drill more cleanly today than ever before in this country, Larry.