35 Burst results for "Opec"
Hello Jimmy Carter 2.0: Pelosi Wants to Regulate Gas Prices
"Turning to another person who needs two channel George Costanza, that would be Nancy Pelosi. Speaker of the House, saying, in her weekly address, that she intends to introduce legislation that would allow Biden to set gas prices. Are we going back to the 70s? I mean, Jimmy Carter, where are you? What we're going to ration? Gas? We're going to set prices. That's your answer to this energy crisis? It's worth just taking a little teeny moment and having a little econ one O one session with all of these lawmakers because they don't seem to understand that supply and demand are correlated. And the pricing and incentives are also correlated. So if prices are capped, do you think anybody wants to be in this industry? Do you think businesses are going to want to drill more, knowing that they can't make more? Depending on whatever the price should be in the open market for oil? No. Of course they don't. And so it means you're not going to have enough supply, which is going to keep prices consistently high. OPEC knows this. OPEC chooses not. To pump more oil because it wants to keep prices high. So we're going to say, okay, we're going to cap prices, which is actually going to disincentivize corporations from wine to be in this business. And we think that's going to be the answer.
Montage: Every Excuse Leftists Are Using About Rising Gas Prices
"I'm going to work like the devil to bring gas prices down I will do what needs to be done to reduce the price you pay at the pump Even if we drilled as much as we could The price of oil is still set globally This Keystone pipeline it would take years for that to have an impact on prices There's an impediment to production in the United States and it's called the bankers on Wall Street Oil prices and gas prices are famously something that is largely outside of the direct control of any political figure The price of oil is very much dependent upon the global supply And that's manipulated for price by countries that don't always have the same values that we have That is the consequence of thus far The refusal of Russia or the OPEC nations to pump more oil The gas prices of course are based upon a global oil market That oil market is controlled by a cartel That cartel is OPEC Certainly we all want to keep gasoline prices low But the threat of the crisis the climate crisis certainly can't wait any longer The significant reason why freshers are up Is because of COVID affecting the supply chain Inflation in prices and housing and in gas is because of deficit spending that's Trump's fault The invasion of Ukraine and the volatility of the oil market is no excuse for excessive price increases profit padding or any effort to exploit American consumers The current spike in gas prices largely the fault of Vladimir Putin Putin's tax that's really Putin's gas hike That's his gas hike Are you guys just going to start blaming Putin for everything Food price hikes at the pump Putin's price hike here at home Putin You should be blaming Putin if anybody for this and to not blame Putin first of all is denying reality and second frankly I think is un
Candace Owens Shares Her Perspective on the Russia-Ukraine Situation
"More Candace. Welcome back to the program. Thanks for having me. How you doing? I'm doing great. So walk us through your perspective on the Russian Ukrainian situation. How should we be thinking about this? It's a really wild perspective to have that people should not be discriminated against. And it's crazy to me that especially following the aggressive two year Black Lives Matter campaign. This is something that even needs to be said considering we just had the entire world marching hands pretending that discriminatory practices is what was plaguing western society. And yet this breaks out this war breaks out between Russia and Ukraine and everybody gets on board. Absent any facts, by the way. The entire western narrative is let's keep people extremely ignorant with propaganda. And just use emotional engineering when it comes to discussing the issues at hand. I mean, to see the press first and foremost reporting that Putin just woke up one day, right? And this is how stupid it's like telling a story to a toddler who woke up one day, didn't take his crazy pills and then decided to bomb Ukraine. Does that even sound like a serious foreign policy perspective in terms of what's going on in the eastern quarter? Of course not. But this is what they're asking Americans to believe. And unfortunately, ignorance is not a defensive strategy. So ignorance is the strategy that Adolf Hitler and his propagandist employed in World War II and they thought they were winning the war until the very end until they realized they weren't wearing the war. And so even if the truth makes you uncomfortable, it's important that it's discussed from a security perspective so that Americans have a realistic idea of how secure we are right now in terms of what's going on in the western corner and the answer in my opinion is not secure at all. We're not secure at all because it has never been the circumstance that America can't get OPEC to pick up the phone. You know, for America to be calling the leader of Venezuela and asking about oil, which by the way is nonsensical, giving the fact that you're saying Putin is a horrible person. If Putin's a horrible person, wouldn't you think that also the leader of Venezuela, they've been starving at citizens locking them in the country. Would also fit under that category. So it's been, it's just been a lot of nonsense and the left is being played with ignorance. And what we've been just trying to inject across the board is just a more sober analysis of what's happening, which of course includes a realistic discussion about
Average US gas price rises 22% in two weeks to record $4.43
"The average price for a gallon of regular grade gasoline nationwide has shot up to a record high I'm Ben Thomas with a closer look the new average prices for forty three that's a twenty two percent increase over the past two weeks a whopping seventy nine cents the fuel price analyst trilby Lundberg says diesel is up even more the dollar eighteen per gallon and that diesel hike will further feed inflation the diesel fuel impact on consumers are so extreme the publisher of the Lundberg survey notes oil prices were already going up but Russia's invasion of Ukraine in the sanctions that's prompted especially with the combination of the banned by the US on imports from Russia are driving this price surge because Russia is the second biggest exporter of oil after Saudi Arabia and it follows a sustained period of curtailed global output or some OPEC members unable to keep up with production targets and the decline in US production Mr whether gas prices pause a little ago yet higher Lundberg says the only unlikely thing is for them to grow up right now I'm Ben Thomas
Joe Biden Joyfully Says Gas Prices Will Go Up
"Want you to hear Joe Biden. I want you to study his answers. Study, you know, we always love to watch body language, right? We all do this. We watch body language. We listen to the inflection in somebody's voice, listen to Biden, asked about which direction gas prices are going to go and listen to how almost joyful he appears when he says they're going up. Gonna go up. And do much right now. Russia's possible. Now, here's a fact today it's Russia's fault, according to Biden. And his acolytes. Before that, OPEC was to blame before that, it was because of the virus. You see gas prices have been going up for a year. What changed a year ago? Well, our energy policy, and we all know it, everybody knows it. Everybody knows it.
Inference: 'Thunder out of China' Details Fauci's Support for Gain-of-Function Research
"Anthony Fauci's been the director of the U.S. National Institute of allergy and infectious disease That's nigh aid since 1984 Over the last few decades he has expressed his support for gain of function research on numerous occasions In a 2011 op-ed for The Washington Post co author with Francis Collins the director of the NIH between 1993 and 2019 they made the case for viruses engineer quote engineered and isolated biocontainment laboratories As a means to identify quote genetic pathways by which such a virus could better adapt to transmission among people The benefits were not elaborated in detail the authors simply noting that quote important information and insights can come from generating a potentially dangerous virus in the laboratory The OPEC concludes with a brief consideration of the risk involved Now the following year Fauci published a paper in total research on the highly pathogenic H 5 NI influence of virus the way forward Again making the case for gain of function research In his commentary Fauci acknowledges the question of whether quote knowledge obtained from these experiments can inadvertently affect public health in an adverse way even in nations multiple time zones away He then invites the reader to consider a hypothetical scenario concerning an important gain of function experiment involving a virus with serious pandemic potential Performed in a well regulated world class lab by experienced investigators The information gleaned from the study is then used by another scientist who doesn't have the same training of facilities and is not subject to the same regulations Here's what he writes In an unlikely but conceivable turn of events what if that scientist becomes infected with the virus which leads to an outbreak and ultimately triggers a pandemic Many ass reasonable
Kevin McCarthy Has a Clear Vision for Republicans' Messaging in 2022 and Beyond
"But across the country, as we look at this, one of the things I'm concerned about is that Republicans in certain areas will be ours and say, I'm gonna get a lead, 'cause I'm not a D and I'm not Joe Biden. Kevin, you and I have had many conversations. We've traveled the country together. I've been in leadership meetings with you. And one of the things I know about you is you like to sit, you like to plan, you know, you gave books to his friends. What is your vision in this election cycle coming up so that Republicans are not just simply saying I'm not Joe Biden? And I'll get Joe Biden when I get in. I think we gotta be better than that. And we've got to be done. How do we do it? We got to let people know what we are for. And the one thing all the members in conference are working on this. And then there's a lot of different people out there. Like a Jim banks you should watch. He's a rising star as well. You all know at least stefanik. She's very impressive. Gary Palmer. But the thing I would tell you, we're all in task forces. I think elections are best when they have contrast. You know what the Democrats have done, what will Republicans do? On the very first day, we'll eliminate proxy voting. So people have to say, bills have to go through committee. We'll secure the border, take away these executive orders of the moving through. We'll stop the runaway spending. We'll focus on American energy, make us energy independent on the past, we are going. So it'll lower your gasoline price. We won't be beholden to the OPEC. We're going to make sure that the elections are secure in the process of where you go. Not defunding the police, but actually providing them greater resources. So America becomes safe and secure on all neighborhoods. We're going to make sure parents have a say in the kids education. We've already introduced a parent's Bill of rights. This is just to start at the very beginning and what we're doing is having all the members work together. The last thing you want to do is get elected and try to figure out what you're going to do. No, let's tell the American public. This is what we will do, hold our feet to the fire. And let them make a
"opec" Discussed on The Doug Collins Podcast
"Couldn't export oil. And so those two things really helped create a foreign market for oil and help us to sell more oil here and be less dependent on foreign oil. So those drove American energy independence, I don't think without these things, we couldn't do sanctions on Russia. We couldn't do this. Ill fated, but Obama deal on Iran. We couldn't push back as much on these other countries. If we didn't, if we didn't have more of this energy independence, I think it's really been great for us. And it really helps us foreign policy wise and also just to have cheaper gasoline at the pump. Well, in that it brings this good 'cause I was there when we lifted that export ban and it was the Texas folks in particular, but also North Dakota. I mean, you know, Oklahoma, all these areas began to have this resurgence. Not only in the all, but also the gas side, the natural gas. Yeah. Why now it has become again with the Biden administration and to not be overtly political, but political in this sense this idea of the climate change issue and everything else. We're reversing the gains of the last few years. Absolutely. Look, this administration look, I think we're getting the government we deserve a little bit. But Biden said on day one, he's going to cancel the Keystone pipeline. He's going to ban fracking on federal lands. He stopped issuing permits for offshore drilling in the gulf. Well, you know what all these things do is they push up the price of gasoline at the pump and the price oil. So I think we're reaping what we sell here. We've also got an administration. He's releasing oil from the strategic petroleum reserve. When China's adding to theirs, you know, I don't know how that makes sense for anybody. And then the Biden administration, this really gets under the nerves of people in the energy industry. When Biden says, hey, look, the price of gasoline is too high. OPEC, will you drill more oil? Well, I mean, I literally want to throw my hat right now. You can't, if what we want is lower gasoline prices, and we want to drill more oil. Why wouldn't you want that done in western taxes, western North Dakota in western Pennsylvania where the American economy can benefit? Why on earth would you want it from OPEC? I mean, it boggles my mind. This is a question because you follow this from a public policy standpoint and you follow up close in your own industry. That one is for one who claims to be people for us, America, you know, we want jobs for Americans has become a it's become more of a tagline than it has a reality, but do you see this as being pushed in the Biden administration, Biden himself being of a different generation, but not, you know, basically his frame of reference would be OPEC. But the people in his administration, what are you sensing from the Department of Energy? I mean, I know what we see in Congress. Is it the ideologues inside this and the climate issue, or is it just a simple lack of just understanding of the industry and Nolan gas field? I think they actually understand the industry. I think it's the idol of ideologues in the idea of placating the progressives on this climate change stuff. And, you know, to me, and I do a lot on this congressman. I think that we've really got to be honest with people about, look, everybody wants clean water. Everybody wants clean air. That's not a question. Where the rubber hits the road to me is we've got to be honest with people about what it's going to cost to get there. And what it's going to do to energy costs for consumers, we've got to be honest with people about the guy buying a $100,000 Tesla, getting a $7500 tax credit versus the guy that's struggling to afford a $50,000 truck. What are we trying to achieve here and where are we trying to go and I think that that's that's the problem with this administration is they don't, they're not leveling with consumers on to get to carbon free to get to carbon neutral. This is what it's going to cost us. This is what we're going to have to do and to me that's where all this climate change stuff needs to go. Hey everybody, it's another amazing podcast today we had Dan talking about is in the middle of talking about energy talking about our inflation. He's talking about capital investment. He's talking about the uncertainty that's out there every day..
"opec" Discussed on Bloomberg Radio New York
"From Bloomberg television Here's Danny burger Over join now by Louis Dixon senior analyst at rye said energy It wasn't that long ago that we're talking about perhaps triple digits when it comes to oil prices Now we're in a bear market driven by some of those virus fears How does that flip change the potential outcome of OPEC's decision In the last two weeks we have seen a tremendous and colossal shift in the market sentiment and that really has been too big sort of bearish surprises for OPEC And that's starting with the U.S. led SPR release And now with the variant and so while the negative market risk of at least 70 million barrels per day of the coordinated SPR release is sort of a known risk the big unknown risk here is the Omaha variant and how much it's actually going to shift consumption of oil products due to travel restrictions and lockdowns and this is still a big unknown And until we really get the hard data on the efficacy of the vaccines against the new variants and this is data that OPEC plus will not have in front of them today It's going to be very difficult to know how to head in the oil market in the coming weeks Here more conversations like this one on Bloomberg television streaming live on Bloomberg dot com and on the Bloomberg mobile app Or check your local cable listings If we get to next spring and inflation is still over 4% and we've ended our taper and that's where we are I think the fed I will not be on the committee at that time but I think fed would have to say seriously this has run too high for too long And we need to start using other tools Random whilst there the Federal.
OPEC+ sticks to modest boost in oil output despite omicron
"OPEC OPEC and and the the oil oil producing producing allies allies have have decided decided to to maintain maintain the the amount amount of of oil oil they they pump pump to to the the world world I'm I'm Ben Ben Thomas Thomas with with the the latest latest OPEC OPEC and and allies allies led led by by Russia Russia are are sticking sticking with with the the pattern pattern of of steady steady modest modest monthly monthly increases increases in in awhile awhile releases releases an an increase increase in in production production of of four four hundred hundred thousand thousand barrels barrels per per day day for for the the month month of of January January the the pace pace has has frustrated frustrated the the US US and and other other oil oil consuming consuming nations nations amid amid rising rising gasoline gasoline prices prices the the decision decision comes comes despite despite pressure pressure uncertainty uncertainty of of the the global global economic economic recovery recovery with with the the emergence emergence of of the the Omicron Omicron variant variant of of the the corona corona virus virus Rystad Rystad energy energy projects projects if if Omicron Omicron triggers triggers new new lockdowns lockdowns demand demand could could drop drop by by nearly nearly three three million million barrels barrels per per day day early early next next year year crude crude oil oil prices prices fell fell with with news news of of the the variant variant and and then then again again on on the the OPEC OPEC plus plus decision decision not not to to curtail curtail production production I'm I'm Ben Ben Thomas Thomas
FTC Should Investigate the Democrat Party for Anti-Competitive Behavior
"This is absolutely outrageous So the Biden administration Biden Harris and the rest of them They're going to make the price of fuel even higher They're going to reduce the domestic supply even more Even more As they write a pry bar the Biden Harris administration is recommending Congress hiked the cost of oil leases on government lands from 12.5% to 18.75% The 6.25% point royalty rate increase in oil companies contradicts the administration's promise to lower gasoline prices Biden Harris administration have asked OPEC to increase oil supplies They asked the Federal Trade Commission to investigate oil companies for so called anti competitive behavior How come nobody can investigate the Democrat party And the federal government and the bureaucracy for anti competitive behavior That's what they're all about That's what they're all about
Remember When Biden Killed Domestic Oil Production to Rely on International Sources?
"Joe Biden came in and immediately killed the Keystone XL pipeline killing thousands of high paying union jobs It's about energy and dependence And then he okayed the Russian oil and gas pipeline going to Germany because that helps out Russia and Putin Remember Hunter Biden got three and a half $1 million from the wife of the mayor of Moscow but pay no attention to that That's not a news story No controversy there He okayed the pipeline had undermines NATO because NATO was stood up was created the North Atlantic Treaty Organization to stare down and oppose Russia and the Soviet Union And that's Vladimir Putin is doing what he can to reconstitute the Soviet Union which he called the collapse of the Soviet Union The greatest or one of the greatest tragedies of the 20th century All that good stuff So he's helping out Russia and Putin and undermining NATO by okaying the gulf what Nordstrom two pipeline And undermining the United States and energy independence by doing away with the Keystone XL pipeline and all those thousands of union jobs They lie to you about how many jobs were involved And no there were only 7 jobs They literally came up with ridiculous numbers like that Well now a new story popped yesterday not because of the funnies at The Washington Post or anything But a memo was uncovered And the Jake Sullivan the national security adviser to the current president of the United States On the need for reliable and stable global energy markets And now you see the Biden White House is going to OPEC The organization of petroleum exporting countries And that would be Saudi Arabia to Venezuela and a number of countries in between And they're asking OPEC to increase
Why Are Republicans Putting Up With This Energy Crisis?
"In Sturgis, Michigan, it is $2 89 cents a gallon. I guess that's better than in California. What is the Granholm plan to increase oil production in America? Oh my God. That is hilarious. Wood that I had the magic wand on this, as you know, of course, oil is a global market. It is controlled by a cartel that cartel is called OPEC, and they debated decision yesterday that they were not going to increase beyond what they were already planning. Incredible. The cliche would take would be, that would be to let them eat cake responsive it. And by the way, the commentator wasn't going for it at all. He asked a very serious question from Bloomberg, and she just starts cackling and laughing. Like, oh yeah, like I could control that. They destroyed the Keystone XL pipeline. They remove fracking and fracking licenses and leases. So incredibly arrogant. And I've called for this for quite some time. We have to tell Republican governors to disobey Joe Biden and resume construction on the Keystone XL pipeline immediately. We've said this on the show for a while. I say this when I travel. Let's just put it into a piece. Have I wrote that PC? I don't think I have yet. I can't remember what we're doing anymore. Write the piece. I will write the piece this week. We'll get it done. And it's very simple. It's that wire Republican governor's putting up with this. Republican governors could fix the energy price crisis now. And people say, well, Charlie, the federal government says that we can't do that. Oh, you mean like how San Francisco, Los Angeles, Portland and Seattle? They say they don't want to enforce immigration law, and they allow rapists and murderers to go free without giving them to immigration customs and enforcement. You mean like that kind of disobeying with the federal government? You mean like Colorado, Nevada and Washington and Oregon, saying they're going to legalize marijuana against federal drug law? You mean kind of like that? No, I'm saying that it's long past time that we start to put our country first and say, Joe Biden, thanks for playing, man. You're destroying our energy grid, gas prices are going up in one of the most expensive winters on record. We're going to build the Keystone XL pipeline. And we're going to force you to bring federal agents in and arrest them, but that would require. Let's just put it nicely. Courage
OPEC+ keeps cautious oil production despite Biden pressure
"OPEC and other allied oil producing countries have decided against boosting production despite a global surge in prices and demand I'm Ben Thomas with the latest the White House says the global economic recovery should not be imperilled by the mismatch between the supply and demand for oil none the less OPEC members led by Saudi Arabia along with non members led by Russia are sticking with their plan for cautious monthly increases in production in an online meeting OPEC plus approved an increase in production of four hundred thousand barrels per day for December in the plan calls for adding the same amount to the market each month into the next year Saudi Arabia's energy minister says that underscores the group's commitment to market stability the National Security Council says OPEC plus seems unwilling to use its capacity and power at a critical moment of the global recovery US oil prices have eased somewhat this week after hitting their highest level since twenty fourteen oil was up trading at more than eighty one dollars a barrel after the OPEC plus decision that's down from a peak of eighty five dollars last week I'm Ben Thomas
"opec" Discussed on Oil and Gas Startups Podcast
"Looking out we're gonna we're gonna them from crisis going out. Yeah yeah gotcha. Gotcha will do this. i wanna i wanna put you on the spot again. Give me one or two. Yes give me a give me one or two interesteing tales of opec either in the past or maybe what's going to happen next year opec intrigue maybe something. We haven't read in the newspapers somewhere. All right well let me just tell you. Bout around opec meeting. Let me just warn everybody. So you know the the media interest in opec is pretty intense in here. You go to these meetings. In the hotel i stay is where the where the saudi delegation stays. So you go down into the lobby. In their fifty to a hundred reporters are waiting to catch a citing the saudi oil minister and so but so much that you read in the media and that you hear on. Tv's false so just is not happening so usually when you go into an opec meeting this a lot of discussions be in advance before anybody even shows up in vienna and then there's more meetings and then by the time you walk into the opec meeting hall. It's pretty much done deal. Everybody you know. Nonsense logos it's down and and they get a deal done and so normally that's how things happen now in over the course of the last couple of years it's gotten very heated because there's been obviously you know. Iran has a different point of view and there was the difficulty between saudis and russia. But so just as an example of how bad the media is covering these meetings. I was with my daughter in vienna shoes visiting me and we were actually meeting the saudi oil minister in the morning before he went to the to the to the opaque meaning. And so we were just chatting with him and we left his sweet and we walked back down to our room and we And the tv was on in the room with cnbc on it and so he.
"opec" Discussed on Oil and Gas Startups Podcast
"And they're like they're like my college football picks but the The the the buzzer starting to hear. Is we really are setting up for la nina Situation this winter which just means colder weather generally in the northern hemisphere which is where the people are and where industrial stuff is so. That's that's kind of the one thing. I think i see out there. That may be good Could trip us up. Yeah no that's exactly right. I mean the national weather forecast that has come out saying law. Lena probability has risen and that would be for colour winter and so so there's obviously a lot of switching that can be done from natural gas back to coal in some countries to oil in some countries you know all these different Generation units have different mechanisms to switch feedstock. But yes if you do see industrial activity fall off dramatically because there is not enough power to keep the lights on in the heat on and so they shudder in activity industrial activity that could cause big recession. We just saw that. The chinese numbers came out the other night Their gdp numbers were much lower than expected because of the blackouts that were there and there is a lot of high frequency data which is suggesting that the uk for example. Lots of different countries are dealing with that right now. So that's definitely a potential risk going to put you on the spot here. So what's kind of the oil forecast and go out kind of beyond at least this year. So so maybe even get us into twenty twenty three. What are what are you saying that oil prices are going to do so as opec always says we not forecast crisis. We forecast inventories but the inventory levels. Basically hundred percent correlated with price level. So that's when they're telling you that they're forecasting inventories they're really telling you that. Forecasting prices but so. I don't forecast so when when they ever say it's not about the money it's about the money. Yes yeah exactly. It's about inventories means it's about price. So i think we will see over one hundred dollars crude this year. But i think that will be the I think that that'll be the top of the cycle. So i think next year. We'll see prices come down again but like you're saying usually. The forward curve is a horrible predictor of price. But i do think that we're going to be at an elevated level of.
"opec" Discussed on Oil and Gas Startups Podcast
"Saudi arabia who's the largest in the ended defacto leader of opec saw that it was no longer the largest oil producer. The us became the so producer. So people kept saying opaque doesn't really matter adding the ten others to opec plus russia and kazakhstan allow other smaller producers into mexico so altogether. They've increased their production numbers but the key is not really the production because they still account for Apted actually look at the numbers. I'll look at them really quickly here. Because i've totally forgotten but So opec itself is now producing just slightly under thirty million barrels in opec plus slightly over fifteen million barrels so altogether. Let's call it. Forty five million barrels out of a hundred million barrels total. The key is that the spare capacity in the rest of the world is basically non-existent in control all of spare capacity. So opec's goal is to stabilize the oil markets. They they don't say so in their mission. But it's always better if they stabilize the oil price at higher level that lower level and so they take off an ad supplied to the market when they feel the market needs it and they have the ability to do that because they have spare capacity whereas most other oil producers. Don't have any spare capacity. That's interesting that you bring it up. I was talking to somebody this morning. And the person was on and on about the trouble with the world When it comes to oil and oil supply was under investment by the united states etc. And i kind of said. Hey aren't you being really narcissistic here and saying it's all about me. The united states. Because i think all the shale revolution did is. We talked ourselves into for call at five to seven years that we truly were the marginal producer we were the low cost producer in the world and at the end of the day. We screwed it all up and we figured out. We generated a lot of oil but we weren't as cheap as we thought we were and so it all comes down to saudi arabia and the excess capacity that they have and so i actually think our public companies are being rational these days by metering out capital being careful with what they drill. Because i think we're back to the old world where we're price takers from opec and.
Democrats Ensure We Rely on OPEC, Overwork Our Electrical Grid
"That in the face of inflation and economic dislocation was putting people out of the work through nonsensical mandates banning products because they use fossil fuels like certain types of automobiles And here we are energy independent and actually unilaterally ensuring that we would rely on OPEC again I predict there's more to come folks depending on how long this goes on I predict this is going to go on Unless we have a change of leadership in Washington D.C. in which case we will have brown out some blackouts As they push more and more products to use electricity and the electrical grid is incapable of handling it all These people are not good planners They're not they're not experienced in economics They're not experienced in the private sector We have relatively young marxists like AOC and even old marxists ideologues like Bernie Sanders who are pushing the agenda That's why your gas prices are going up That's why they're shortages That's why we have inflation That's why they push massive tax increases That's why we were energy independent ten months ago and we aren't today Just a matter of time
Democrats Ensure We Rely on OPEC, Overwork Our Electrical Grid
"And we didn't have an administration that in the face of inflation and economic dislocation was putting people out of the work through nonsensical mandates banning products because they use fossil fuels like certain types of automobiles And here we are energy independent and actually unilaterally ensuring that we would rely on OPEC again I predict there's more to come folks depending on how long this goes on I predict this is going to go on Unless we have a change of leadership in Washington D.C. in which case we will have brown out some blackouts As they push more and more products to use electricity and the electrical grid is incapable of handling it all These people are not good planners They're not they're not experienced in economics They're not experienced in the private sector We have relatively young marxists like AOC and even old marxists ideologues like Bernie Sanders who are pushing the agenda That's why your gas prices are going up That's why they're shortages That's why we have inflation That's why they push massive tax increases That's why we were energy independent ten months ago and we aren't today Just a matter of time
Jen Psaki Pressed About Relying on Foreign Oil Versus Domestic Oil
"Jen Psaki was asked at a White House briefing today Well gas prices Why are you relying on foreign oil Why don't you just tap our oil Cut 9 go One quick question on gas prices What it has some reporting that shows a lot of American consumers we're talking to have started to come in for the rise in gas prices to registration policies that fossil fuels For example a pause on federal leasing on land and water And so my question is why people learn on production at home with American companies and instead ask OPEC for more production with production is perhaps not as environmentally regulated Is there any consideration perhaps being given to this keeping in mind rising gas prices Well we are in touch with we are not a member of OPEC as you all know We are in regular touch with OPEC and we have also raised issues of supply in meetings that members of our national security team and others have had She's missing the point Fact she's contradicting the point That's the questioner's point which is why you rely on
Star Gymnasts Give Chilling Testimony on FBI Mishandling of Larry Nassar Case
"Our listeners. There will be descriptions of sexual assault here so if you need to skip ahead. Now's the time but with that. Let's go to christine brennan sports columnists with usa today. Abc news contributor. And she's actually been covering the story since it broke which is years now right christina. What stuck out to you about this testimony yesterday brad. The power is in the platform. A lot of what was said by. Simone biles and allie race men michaela maroney and mcnichols. A lot of it has been in reports or has been printed in newspaper stories and online it. Some of it was new but a lot of it wasn't. I've had to be taken in an ambulance. Because i pass out and i'm so sick from just the trauma and it might not even be after a hearing like this it just hits me out of the blue to have us be reminded of the horrors of larry nassar to see these incredible women especially simone biles. Everyone just watched her six weeks ago in tokyo and all that she went through there i worked incredibly hard to make sure that my presence could maintain a connection between the failures and the competition at tokyo twenty twenty that has proven to be exceptionally difficult burden for me to carry. It is a reminder That that this denver goes away. Never goes away for them and though it in that means it shouldn't ever go away for us and they're survivors of larry. Nassar have a right to know why they're wellbeing was placed in jeopardy by these individuals. Who chose not to do their jobs to date. No one from the fbi. The us opec or usa. G has faced federal charges. other than larry
OPEC Steadily Adds Back Production as Economy Recovers
"OPEC and its allies are adding more oil back to the market as demand recovers from the worst of the corona virus pandemic the group known as OPEC plus which includes the oil producing cartel and allied nonmember countries led by Russia have agreed to gradually increase production sticking to plans to add back four hundred thousand barrels of oil per day starting October first the group made deep cuts last year as demand for fuel plummeted with the pandemic prompting lockdowns and travel restrictions OPEC's de facto leader Saudi Arabia is looking to avoid a sudden price drop from adding too much back too soon so the group is moving gingerly as it restores production while prices had dropped ahead of the meeting but rose after and finished the day little changed I'm Ben Thomas
"opec" Discussed on Oil and Gas Startups Podcast
"National security advisor. Jake sullivan on the need for on the need for reliable stable global energy markets. And i'm going to read this out loud in case you haven't logged into. The white house looked at it but basically he says this is quote higher. Gasoline costs if left unchecked risk harming the ongoing global recovery. The price of crude oil has been higher than it was At the end of twenty nineteen before the onset of the pandemic well opec plus has recently agreed to production increases. These increases will not fully offset previous production cuts that opec impose during the prion democ until well into twenty twenty two at a critical moment in the global recovery. This is simply not enough. President biden made clear that he wants. Americans have access to affordable and reliable energy including at the pump. Although we are not a party to opec the united states will always speak to international partners regarding issues of significance that affect our national economic and security affairs in public and private. we're engaging with relevant opec members on the importance of competitive markets in setting prices competitive energy markets willinger reliable and stable energy splice and opec must do more Recovery so this is the. Us white house. The the biden administration calling on opec to increase output. Because they are seeing pressure in prices. Now i am. It is not a stretch to say that this is these. These price increases and inflation in the us in particular is what's driving this so it is not just oil prices. And we've talked about this in previous podcasts. I've talked about this law in presentations. In encountering talking with folks on phone and in in the industry this is one of the first times we've seen especially in my lifetime. I'm in the past twenty years that we've seen inflation high inflation so high food prices high High cost of living a high cost of wage increases in tandem with high oil prices. So we didn't have these levels of inflation necessarily all for all components. Won't we had seen really high oil prices before. And so i think these two things are really weighing and they know the administration knows that this is definitely going to impact on consumer sentiment. And it's definitely gonna impact actually help people feel about the ministration. How will the doing so that was a plea by our nationals secretary National security advisor. Jake sullivan on the need for reliable and stable. Global energy markets necessarily. There's a response in the press briefing which we'll get into because it was talked about opec was talked about quite a bit length so what was also interesting is albert government if you go on their website..
"opec" Discussed on WSJ Opinion: Potomac Watch
"Because i think to face up to it would be to challenge some of their some of their key policies. Well bill brings up this statement about opec plus and it is. I thought it was really remarkable. It's from national security advisor. Jake sullivan on wednesday. In here is what he said. Higher gasoline costs if left unchecked risk harming the ongo be ongoing global recovery He went on to say while opec plus recently agreed to production increases. These increases will not fully offset previous production cuts at opec plus and so he saying it's not enough and kim. I would throw out that. Some of the members of opec plus include such responsible global citizens as russia. Yeah i mean this is remarkable by the way. Just just think about this. Here is the biden guy. Saying fossil fuels are essential to economic growth. Really okay well. This is what a lot of republicans have been pointing out to the biden administration. Sense a came in trying to combat which has been what has been one of the most aggressive anti energy and ministrations in the history of the country. You know just. Since taking office this administration has killed the keystone excel pipeline is cancelled oil. Leasing in alaska his suspended oil leases on federal lands It just recently increased the fuel. Mileage standards for cars It's been using the endangered species act as a way to tie up land and therefore to further reduce drilling on private lands especially in the west And so you know. We have the united states Which is prior to this. Pandemic had become the world's largest oil producer Thanks to a lot of innovation But under biden policies were essentially Making that harder to do And now turning practically begging for opec plus including all of you said like those responsible players like russia and iran to send to pump more there and send their fossil fuels to us so either you believe that climate is a global problem and everyone needs to do something different Or you understand. That energy is a vital part of the economy and you allow people to do it responsibly. everywhere But these these these two messages from biden from mr sullivan are completely at odds with one. Another and that's not unnoticed. That's not gone. Unnoticed by american allies including canada. Here was the the statement from the premier of alberta jason kenney he said the same us administration that retroactively cancelled canada's keystone pipeline is now pleading with opec and russia to produce an ship more crude oil unquote and and bill was also notable that this statement about came right after the big climate report from the united nations And i i mean..
"opec" Discussed on WSJ Opinion: Potomac Watch
"Opinion pages of the wall street journal. This is potomac watch. Welcome back kim. i mean what. What's your view of of. How biden is attacking this issue so far or what he should do in response to these inflation concerns. Well at least for now. He's trying to pretend it doesn't exist. I mean that's why we have the transitory comments that are out there. You also quite remarkably have the administration suggesting that some of the policies that are coming down the road including yet more spending Is somehow going to remedy this. Which is It's crazy talk because again if the issue here is a supply problem and you are flooding zone out there with yet. More transfer payments and money and thereby stimulating demand You're not gonna make the problem better. You're gonna make it worse You know. I think one of the other things too is all of this biden. Talk is sending a signal political signal to the fed that the this administration berry a firmly does not want them to raise interest rates Because they know that's gonna make it harder for them to sell their spending. Things are going to become more costly And you know you have fed chairman jerome powell who his term is going to expire. He'd probably like another run. The fed's not supposed to engage in politics They're supposed to make decisions on the merits but we all know that this creeps in And so let's see what happens in september when it's going to have its next meeting There are some signs that they may have to taper But the white house so far is closing. Its eyes to this or suggesting remedies. That aren't going to help whereas it's not doing anything that might make a difference including pulling back on the spending lever. The fed does not seem so far at least inclined to change. its course But bill about this as a wild idea if we're worried about the cost prices in the economy rising. Here's something president could do by himself. You could take tariffs he could take. Trump's tariffs off of for example steel aluminum coming in from american allies Those lower prices would filter through the economy as as manufacturers bought lower-priced metals And then sold their products at lower prices. I mean there's there's something to me. That seems like a an obvious solution. I'm not sure how huge of an impact that would be but it would be hard to argue with the number of open job openings. That exist out there that that would be harming manufacturers at all. I think yeah. I mean i think the the rest of his constituency in the democratic party Might not go along with that. I mean they haven't been that enthusiastic about free trade. But i think you're right there inefficiencies but that we could address in some of these ways to mitigate what's happening but instead what looks like we're doing crazy things like Curtailing fossil fuel production down the road while begging opec to pump more so that we could lower our prices here The i think part of it comes from the Unlike you they they don't want to admit the basics of the problem that it that it is a problem they kind of recognize it but they can't face up to it..
"opec" Discussed on WSJ Opinion: Potomac Watch
"My wife had sent me to the supermarket and i got you know a few items that if you would ask me without. I didn't look at the price if you had asked me. I would say it's twenty twenty five bucks and it was closer to fifty bucks and so many people were repeating the same thing i mean. People are noticing. And i think that's why the the biden administration's claims that does not anything to worry about. I think that's going to be harder and harder to maintain. Because i think people are feeling it in their ordinary lives in the kind of things you point to kyle. I think suggests that we're going to have more of it. That is not remember so few people predicted that we would have what we're having now right. We were told it wasn't a problem and so forth. I think we're going to have more of it down the road. I don't see how we avoid it. The question then is whether it becomes a self fulfilling prophecy to some extent. I i mean. I look at the business pages and there was an interesting story. I think it was last month. About japan outlay mexican grill saying that. They raise their menu prices this year by around four percent and after that sales went up and he the the leaders of the company said they hadn't seen real pushback from customers They think they have real pricing power. That maybe they didn't before. And so the danger kim it seems to me is that if that becomes the new normal for people one percent here. Three percent there Then the result of that is if you think it's coming next month in the month after when your annual review comes around You're asking your boss for a raise. You're gonna demand at least what you think. Inflation is going to be And then the circle just goes around and around again. Yeah that's that's one possibility. And certainly that's a very interesting anecdote. And i think that one issue though is is that the way people react to inflation obviously Changes based on. What kind of product. You're looking to get especially those that are More of an option versus those that are a necessity so You know. I i don't eat it chipotle. Every day maybe it's just so good people are willing to pay for percent more for their burritos But but but it's also one of those goods that you could potentially forgo..
U.S. Calls on OPEC and Its Allies to Pump More Oil
"The white house is urging opec to boost oil production the group announced plans in july to gradually restore cuts made at the start of the pandemic by unleashing millions of barrels of crude over the next two years but in a statement today national security adviser. Jake sullivan said that those increases are not enough. As countries around the world worked toward economic recovery brent crude fell after the white house's announcement before later recovering the bite administration's move comes as it sought to push back against concerns about inflation
"opec" Discussed on Wall Street Breakfast
"I'm your host. Steve brown our top stories today crisis for opec plus china crackdown and at record highs leading. Today's news saudi arabia and the united arab emirates headed into the boxing ring for another round on monday before opec plus called it quits on a production deal the unresolved spat between the longtime ally saw. Wti crude sore another two percent to near seventy seven dollars a barrel. Further squeezing an already tight oil market and raising concerns over inflation. Ed issues the current terms of baselines or the measure in which each country calculated production cuts. The uae feels its current level of three point two million bpd from april twenty twenty s to low and should be three point eight million bpd when the deal is extended into twenty twenty two but the saudis in russia have rejected any readjustments fearing that other opec members will issue similar demands. What's at stake. Abu dhabi attempting to force the group to accept its request or risk unraveling the alliance at the extremes of the equation. Crude prices could make an outsized move in either direction. Failure to reach a deal could mean crew could rise even higher but opec plus unity may also breakdown risking a free for all that could send prices crashing. That scenario played out last year when a disagreement between saudi arabia and russia prompted an oil price war months after the dispute was settled the uae stirred things up again by threatening to leave the cartel failing to come to a deal may provide some brief upside to the market with reports that output would remain unchanged explained analysts. At i n g however realistically it could also signalled the beginning of the end for the broader deal and so the risks that member start to increase output outlook. The tensions between abu dhabi in riyadh are going beyond oil. While the crown prince mohammad bin zayd and saudi crown prince mohammad bin salman once had very close relations to former husband flexing. Its own geopolitical. Aspirations via foreign policy moves towards countries like israel and yemen the saudis have also called for foreign companies to move the regional headquarters to riyadh many are now in dubai and following the opec standoff the kingdom move to restrict citizens travel to the uae in other news shares a global or off twenty five percent pre-market to eleven dollars and sixty cents as trading reopened after the july fourth holiday weekend. That's also seventeen percent below dis. Ipo price of fourteen dollars. Though many retail investors likely bought in a lot higher triggering. The plunge was a big data. Crackdown by beijing which ordered. Us listed chinese companies to be removed from app stores. Worldwide while existing users can still use the apps new subscribers have been halted while the chinese probes conducted. Dd said the uptake. Down in china may have an adverse impact on its revenue in china but his striving to rectify any problems improve. It's a risk prevention awareness at protect user's privacy and data security also often pre market action. Our truck hailing service full truck alliance co an online recruiting app kansan which are down sixteen percent and nine percent respectively both companies with public in the us. In june bigger picture fearful of their growing influence china is in the middle of a sweeping crackdown. On the nation's biggest tech firms. Last november beijing pulled the planned. Ipo of fintech giant ant group and in april. It hit alibaba with a record. Two point. Eight billion dollar fine over abusing its market. Dominance in may china's antitrust regulator also ordered dvd and nine other on demand transport companies to overhaul their practices ranging from price hikes to driver treatment current investigation china cyber unit is convincing a review of deedee and others to prevent data security risks safeguard national security at protect the public interest. The communist party back global times also wrote that appears to have the ability to conduct big data analysis of individual behaviors inhabits a feature that could require strict oversight by government that is highly concerned with social control. Dd is the most dominant ride hailing business. In china accounting for eighty eight percent of total trips in the fourth quarter of twenty twenty futures linked to the dow s and p. Five hundred and nasdaq are hanging close to the flat. Line following a big week for the major averages which notched fresh record highs in the wake of the us jobs report. Nonfarm payrolls for june showed a strong gain of eight hundred fifty thousand on friday but there appeared to be enough concerns to keep the fed from tapering. Its bond purchases for now while many expect the stock market gains to continue into the second half of twenty twenty. Others are more cautious. Analysts commentary the. Us economy is booming. But this is now unknown and asset markets reflected. What isn't so clear anymore. Is at what price this growth will accrue said michael wilson chief equity strategist at morgan stanley. Higher costs mean lower profits. Another reason why the overall equity market has been narrowing equity markets. Are likely to take a break this summer as things get up. Traders are also preparing for a more hawkish tilt at the federal reserve minutes from the fomc. Tomorrow could give some clues. On the direction of monetary policy as well as the tapering time-line besides the behind the scenes discussions many speculate additional remarks on qe and bottom mind could come jackson hole in august notable statistic over the past three months eighty five percent of all the quantitative easing worldwide had been conducted by the fed and the rising corona virus cases in israel where much of the population is inoculated with the pfizer vaccine suggests the jab may be effective in preventing mild illness from the delta variant. However it's still too early to precisely assess vaccine effectiveness according to ran bowser chairman of israel's national expert panel on kobe nineteen this is because exposure to the variant and the likelihood of being tested or not evenly distributed across the population while there are still over a low number of cases among fully vaccinated israelis.
"opec" Discussed on World Oil's Daily Brief
"Hello and welcome to the world. Oil daily brief podcast. I'm cameron wallace and today is sunday november. The twenty ninth and as we start this final months of twenty twenty and move on to bigger and brighter things next year. There are some interesting challenges that some of the organizations that try to put some sort of control on the oil and gas industry are facing as we start to kind of move into the next phase of the pandemic and prepare for what impact vaccines might have and what i'm alluding to it. I guess you could call it a bit of a rift within opec.
"opec" Discussed on Bloomberg Radio New York
"Production cuts which came on top of the OPEC plus supply curbs will cease at the end of this month as the medical coverage that means the cartels told supply reduction this month old almost eleven million barrels a day will taper gradually in the coming months it created a better atmosphere for mold pretty get a mold understanding here yeah hope and wish that everybody conduct themselves in a more appropriate to and most of the limited way I would say not appropriate but most committed way so it said its purpose that's good morning this we're gonna come out he's the chief economist at Abu Dhabi commercial bank got Monica would you say that enough has been done from OPEC plus at this point to put a firmer floor under these oil prices I think so or anything oil prices move above forty dollars a barrel of Brent crude it's both the supply side a document from hospital so by death but also the greater confidence on on Tremont as the company's stock create clothes and the other side of the company economic activity that still remains the number of questions how that goes full lips the buildup in momentum into models but I think a big part of of the communication from the Saudi oil minister it is that they want to make sure that all countries meet that quota production costs well other than the button being on site they radiate UAE and Kuwait okay good morning tea it's Manistee thing that Darren lies perhaps part of the carrot and stick I applied by society the UAE and Kuwait when they pulled back side he's going to pull back from the acts of violence three counts that they made in June so to a certain extent this is you know a carrot and stick they they had what one point two million barrels all of additional reduction in I put yeah and I think that really shows that the educational caught reading was was hit with the news by the main uses to help rebalance the market and again if we look at the message after the OPEC plus meeting one side of it is to to increase confidence in the oil market that Jackson's extend the the initial two month production caught by another month before tapering the overall production by the group but Wilson it's it's very much that all the producers boss how flight behind making that commitment need to get to that level and the the the longer that the G. C. C. countries could produce less than that committed amount will will will allow others to to not meet that commitment so it is very much balancing bringing confidence back into the oil market but making sure they don't carry a greater burden are they happy then money so you have this whole debate as to what extent the Saudi economy is getting affected by all these disruptions one important indicators of course the three month cyber war and also the I or the United Arab Emirates in terms of the helpful financial conditions of what is your analysis what we've been looking for it because he is the cricket team in the banking system if you remember the twenty fifteen to twenty sixteen I've heard the G. C. C. it's called fly again because of the low oil prices usually the quickest heating the banking sector dry out the company reporting requirements increase on this time around we haven't seen that happening making sure that the conflict between the banking sector would be one of the key pillars of the policy responses especially in the UAE patrol says in part the ingredients well you know because the liquidity measures to increase government deported sitting in the seat you eat that creep going eight coal over things and making sure that they are liquidity said bye to continue to end the real economy I'm trying to put the real economy hearing this kind of it nineteen crisis when I was not the time the cuts I mean that seems to be that the sentiment from around the world yet you look at the restructuring that sad Saudi Arabia implemented think one of my GA's yesterday said the site was essentially kitchen sinking everything that they really wanted to try and achieve under this umbrella how do you how do you analyze that kind of thinking well I believe he I mean you're looking at a space to fight they called me only one flight across the Arabian house because it makes sense the widening in the fiscal deficit so we've seen for the P. eighteen truckloads in on this week quite a help in increasing and you can't help but at the other hand you you have to balance it with providing essential support to the economy to try and limit the the extent of the ticket nineteen crisis and again going back to oil prices finding support for the oil price it's great to be central to Saudi Arabia for the hospital reduce the pace of of physical attraction for quiet at the time but that you know the government remains the key driver to mom couldn't they called me so you're you're walking in a very very close balancing act and I'm a big part of Dr Olson's bomb and making sure that there's ample liquidity in the banking system they increased injected the culprit did this man plan has that this is an area that looked very tense he asked what is going to run a number by you and in fact the Bloomberg survey suggests that for the budget balance in the twenty twenty one the forecast is for a deficit to the tune of about eight point three percent it does that add up with what you factor you we've been crunching what prompted a large deficit and we we expected to be in in the double digits we we expected to be around fifteen percent of GDP by our current estimate of course it is oil prices continue to gain momentum stocks will be critical but also one thing that will be very important if I how much is the government going to pull back spending even though they announced that the reforms inmate that we've discussed before a critical point that the finance minister has made is that actual government spending will be in line with with the budget it's about because you're going to see increased spending related to healthcare and and the support system so you know I I think that you know that that is still the law requirement for government spending awful console already implying a deeper cuts and then been mentioned by the finance minister says that holds I think he's very critical for the deficit but given level eleven and the outlook for oil this yeah I think it's double digit deficit looks likely in our view okay Monica I stern warning them on economic chief economist at Abu Dhabi commercial bank thank you for joining yes if and.
"opec" Discussed on World Oil's Daily Brief
"Production by a further twenty four percent to three point, two eight million barrels a day. Accepting such could risk of backlash from Iraqi parliamentarians and political parties not want to bow to foreign pressure. The traditional shirkers, and plus promise many times before to do better, but some some analysts are skeptical that it'll be any different this time. There's also a risk that future OPEC plus curbs could be undermined by return of Libyan oil. The civil war there halted more than one million barrels a day production, helping pick plus rebels the market. But a ceasefire on Saturday, now opens the door for gradual recovery of supply. For now at least members of OPEC, plus can enjoy the price gains resulting from the deal. The oil mark is on its way to recovery, said Ann Lewis Hill an oil analyst of wood, Mackenzie supply shifted dramatically already. Global demand is recovering to with both May and June climbing from the lowest seen in April as the coronavirus, related shutdowns continue to ease. Now on the surface. This agreement might look like more of the same old plus strategy of cutting production. But a closer look shows subtle changes that point of Saudi Arabia Russia and their OPEC plus allies adopting a more sophisticated approach. That being trying to flip the shape of the oil price curve upside down. In many respects, the cartels borrowing from playbook of the world's top central banks or policymakers often focus on interplay between long and short term investment rates. The alliance's traditionally targeted a reduction in inventories, but now it's also actively focusing not just on stockpiles, but also on the shape of the oil curve, designing policy to influence short term prices relative to those further in the future. The idea within OPEC plus is trying to push near-term or spot prices higher than forward contracts structure known among traders as backwardation. In short OPEC wants oil today to be more sought after than oil for delivery months or years into the future encouraging refiners and traders to take root out of inventories. This marked a departure from previous aims to draw down inventory, more subtle way of communicating in. The shift first reported by Bloomberg on Friday could have important implications for US shale producers who benefit from higher longer dated prices as they used them to hedge their future production. While front month West Texas intermediate remains slightly below forty dollars a barrel. The price of twenty twenty one is trading higher and the price for twenty twenty two is almost forty to fifty a barrel. Brent price curve remains in tango. The term for market where long-term oil is more expensive than short. Although earlier this week, the front of the curve briefly flipped into backwardation. This price difference between contracts for delivery now and in six months remains in tango although it has narrowed significantly over the last two months. Controlling the shape of the curve is difficult, would require OPEC plus to make short-term adjustments to its output, reacting quickly to changes in.
"opec" Discussed on KOMO
"Perfect storm if you will on Wall Street got the continued worries over corona virus we also have two major OPEC nations Russia and Saudi Arabia refusing to lower production levels even though demand is down because of the corona virus and what's happening right now is we're seeing oil prices I think they take twenty percent today when you see something like that happen investors get nervous when investors get nervous they sell and it sold to the point that it triggered the first brief stop in trading in twenty years today more than twenty years so those were automatic brakes the kick in anytime there's a swing that gets up to be a little too high for the market's liking absolutely that's what happens what happens is when we drop below and we're talking about the S. and Peter not the Dow the S. and P. when it drops below seven percent one of those automatic tripwires is activated and trading will stop for fifteen minutes that's what happened right after the opening bell today no it had it dropped thirteen percent it would have tripped another one of those trip wires if you will and if it drops below twenty percent trading would have ended for the day now that didn't happen but the market's never really recovered much from that seven percent drop in fact they closed lower than that tomorrow are the experts predicting some bargain hunting that's always a possibility when we see the market forcing the markets closed you know this low but then again you don't know what's going to happen tomorrow if you have the stomach for campus over to either to buy the dip you know a lot of a lot of experts would probably say go for it but for the average investor it's probably time to to kind of hold on right now you know that's a good point holding on for right now and at some point lease the experts are saying with all this pent up demand that they're obviously going to be some institutional traders are going to have to get their money back into the market absolutely I mean it and and that's a lot of times you know when people do come back into the market they they do it when it's it's this lo and the bilo and the you know and they wait for high but then again most of us you know are not are not that kind of a savvy investor so if you have questions right now it may be the time to talk to a financial professional find out what your risk tolerances and make changes accordingly at that point A. B. C.'s Derry helping her time now to guess the como afternoon sound bite what I want but I just stop right now holy mackerel so be the first caller to identify who sent it in with a fifty dollar gift card to Daniel's broiler the official sponsor of happy hour with the finest appetizers and drink specials from four to six.
"opec" Discussed on KTRH
"Posted on social media sites by people who should know better the reason the stock market took a plunge today nothing dramatically changed in the corona virus discussion the reason the stock market took a plunge today was because the OPEC meeting went so badly over the weekend and the Russians walked away from that's why they halted trading earlier that's why there was a selloff but the long term players I'm not going to give you financial advice but never ever will I do that but I will give you my opinion as to what's happening in the market my opinion as to what's happening in the market is a lot of people are frightened as people tend to do and they go oil prices down problems with OPEC coronavirus fears and there's immediate selloffs but the long term investors are going to be buying this week and I don't know how long the long term is going to take but three to six that that's my prediction with Gerry why do you think there is but let me go back for sure based on your experience as a P. would you call yourself a Pullman knowledges you said you're a long dark what what what correct I'm a pulmonologist and critical care physician all right so one of the things that keeps coming up in this is that elderly male smokers are at greater risk in people with COPD what about the corona virus is it the if you have a weakened respiratory system what about that is the problem well it was influence or any respiratory disease whether it's a bacterial pneumonia or viral pneumonia the likelihood of getting a more severe reaction when your lungs are compromised is intuitive and I think that when risk influenza coronavirus are respiratory illnesses people with respiratory diseases that have just a more difficult time fighting that off and to have more serious consequences so he is if you were predicting where this coronavirus thing goes do you think we've leveled off I mean they're they're two different questions and you kind of alluded to those one of them is how contagious is this thing and the second was you use the term virulent or deadly or dangerous so it could be very contagious but not so deadly or not nearly as contagious but very deadly and out of those permutations and combinations which where are we I'm not sure we know all our basic we there is a sense that this may be more contagious just because of how quickly it is reportedly being spread in different areas of the world not here in the United States but in different areas even that I'm not sure who's has been will well today is I don't think we have a sense yet is it more very light is it is it really more disease producing move and say employing the self and the numbers with employees are staggering we don't have those kinds of numbers with coronavirus are you making any changes in your personal life to your behaviors as a result of this no your answer but no do you think having some simple simple contagion respiratory droplet wash your hands clean services simple things are probably doing anyway and when most people are doing when there's an influenza I'll break I think those are those are reasonable but I don't really see any superb over the top when does the flu season typically start soon we'll usually starts in the United States around December sometimes early in November but around December and will make its way into early spring March April so we're not out of the woods yet well the numbers or the two cities here are posting for up to this week but we're still we still have some influence of this being reported yes I read over the weekend that on February twenty eighth the of each year the who the World Health Organization gathers together doctors from around the world and they discuss what strain they think is most likely for this year once they agree on this is the strain we predict for this year then they go back and begin building stocks of that to be ready by October to begin flu shots and that that's the reason that it's only about thirty five percent effective is they often get it wrong is that what you understand to be the case memories of the influenza isn't there this year's best gas from last year's influenza and expected or anticipated mutations of the virus that's why you typically seen forty to sixty percent success rate in some years when we got it wrong like a couple years ago at around ten percent and so vaccines can certainly help but it it's not covering everybody from the peninsula do you get the flu shot every year I do because working at hospitals they mandate that you do but two years ago I got the flu shot and then I personally got wins and and having to work through it but if I do get the flu shot because it's mandated by governmental now and the hospital mandates that any act many people working there have to have a flu vaccine do you have any I would not have normally this last year but where do you yeah the bottom line is yes I used to get a flu vaccine do you have any life hacks as two good ways to improve our immunities overall things that you actually buy into I was reading that vitamin C. is over rated that we think it's the panacea but it's not have any thoughts on that I do not think it is a panacea you know this is interesting in that you know I keep saying that word but all our medical advances we've medicine cannot cure the common cold this is certainly not the common cold but what I'm saying is that our our insights on treating viral illnesses and the medications we have for treating viral illnesses do not compare to those we have in the bacterial world we have lots of different antibiotics moulder coming out all the time but we just don't have that same capability with viruses and so we rely on our intrinsic body's ability to to fight things off why don't we have that same ability that's a good question I I know they are working on that part of it is just the nature of the virus the virus is very small much smaller particle it replicates differently than bacteria it's a really a completely different organism and it is completely different from correct seem to still seem to be the more the more logical initial approach but then we do have some antiviral things we give for influenza it is just that it really has not been satisfying however can you hang on for a minute yeah I want to ask you if you're the king president appoints you the king of our entire corona virus in anti flu.
"opec" Discussed on Bloomberg Radio New York
"Is OPEC me today they did one point seven so that the code of five in many ways the cuts one point seven in Saudi Arabia offered an additional four hundred at million barrels at if everybody complies you expect them to do more cuts in March when we're in where and when were Indiana and and much more well we have no I mean it's it's March is a long way away given where we are today and the and the level of of risk that we see in the market Saudi Arabia will certainly want to see better compliance we're getting there with a rock in the area but they're not there yet and you said to me they where they would that they had fully complied at the end of December in that state and in DC said that to me well I don't think that we see that in the publicly reported secondary source data so they're not fully combine champ but they're more complaints than they were when OPEC Matt so I think Saudi will want to see that and then what I think is out OPEC because I think we talked about last time I saw you is in a position where it needs to be more flexible than ever I am ready to respond potentially to ramp up with spare capacity put supplying the market if we do see disruptions there's another circumstance for between now and March or June they're going to pull some more supply off the market if we want to stay in this range do you think Saudis patience runs light with the under come flyers at some juncture it was apparent steak proposition really at the press conference wasn't and that's sort of a history of pack that you know Saudi is often willing to carry a bit of the burden but at some point they need to remind people and instill some discipline that they're not going to do all the work so the question is whether they would flood the market put support supply back I don't think we're there yet given where prices are and given the extent of non compliance which is not massive the thrust of your current pace is that the.
"opec" Discussed on Bloomberg Radio New York
"Thought to be real does that mean that the E is actually reducing the forecast for oil demand growth due to signs of this economics weakness around the world. So I think it is. Early to make a judgment different judgment about the revision on the oil will be releasing guard numbers shortly. But what I'm talking is. If the economic slowdown indications coming from China from the car says the telephones from data forms to construction industrial continues. And if you see a slow down from China and rest of divert, this may have impacts on our demands expeditious for this year, and maybe beyond. Okay. Do you think OPEC actually cut enough production January to prevent a buildup in surplus? Yes. Once again OPEC is anti. The plus Russia, and the others are trying to push the prices up sixty dollars a day off today, but we should not forget that the US shade is very responsive to the press changes. And maybe more importantly towards the end of this year. It will be even more responsive is it is out of the finishing a huge amount of a pipeline new capacity coming in the states and this additional capacity. The United States will make the oil industy much quicker and much Fuster vague to respond to the international oil price changes. So if the traditional oil export, this should be careful once a today, they should be careful to us tomorrow. Then this is especially. Completed towards the end of this year. How.