35 Burst results for "Strategic Strategic Petroleum Petroleum Reserve Reserve"
WTOP
"strategic petroleum reserve" Discussed on WTOP
"The house is sent to senator bill that seeks to lower gas prices by increasing domestic energy production. WTO Capitol Hill correspondent Mitchell Miller reports the legislative debate is very different than it's been in recent years. This will be a two minute vote. There were a lot of votes before the final House vote on the energy Bill. That's because for the first time in 7 years, a rules change approved by Republicans who now control the house allowed for amendments to be brought up on the floor, and there were plenty of them. More than 50 in all. The amendment is not agreed to. Liaison one 99, the nasr two 29, the amendment is not agreed to. One of them was proposed by Virginia Democrat Abigail spanberger, whose amendment would have banned oil drilling off the Virginia coast. I'm deeply concerned about the environmental impacts that offshore drilling could have in Virginia over the last several decades we have made tremendous progress in the restoration of the Chesapeake Bay, virginians do not want to risk a disaster like the deepwater horizon spill. That spill in the Gulf of Mexico is the largest marine oil spill in history. Like most of the amendments, it was voted down. But supporters of the modified open rule say it allows for more debate and gives lawmakers a better opportunity to offer up their proposals. Opponents say it can also extend debate too long and hold up the original legislation brought to the floor. In this case, the bill was backed by Republicans, and it was eventually approved. The yeas are two 21, the Nas are two O 5, the bill has passed. The legislation would restrict the president's ability to release oil from the strategic petroleum reserve, tying releases to a corresponding percentage of federal land that would need to be opened up to oil and gas exploration. Majority leader Steve scalise and Republicans argued that President Biden released oil from the reserve to lower gas prices for political reasons, not an emergency. This president has raided more than 40% of America's strategic reserve. The legislation isn't going to advance in the democratically controlled Senate, but Republicans say it reflects what will be a continuing effort to challenge President Biden and Democrats on energy policies that they believe are hurting American consumers through higher costs. On capital hill, Mitchell Miller WTO news. 6 people died in upstate New York, Saturday when a tour bus hit a Penske rental truck in the town of Louisville along the U.S. Canadian border, the crash occurred in snow and icy conditions, photos show the vehicles may have hit each other head on. In addition to those killed police say several other people suffered serious injuries, coming up on WTO P a good night for the wizards on the road in New Orleans. Frank hanrahan has sports coming up at 8 13. When you hear diamonds direct, it's not just a catchy name
The Charlie Kirk Show
Steve Cortes: The American People Know We're in a Recession
"Is in a really tough spot. I believe that they played some games with the fed over the summer and early fall to cushion the blow ahead of the midterms. I think that everyone knows that we're in a recession, but I think there was some games also done, obviously with the strategic petroleum reserve to try to get gas prices a little more manageable because Steve, this midterm election should have been much more focused on the economy than it was, right? I mean, it shouldn't be a four seat majority. It should be a 40 seat majority given the economic catastrophe we're living through. Yes. And by the way, to that point of whether or not we're in a recession, according to CNN polling, not exactly a right wing organization. 75% of the American people say that we are in a recession right now. So the American people know this. People on Main Street regular folks know that we are in a recession. You know, whatever academic debates, the corporate media and The White House want to engage in the American people know where we are. They know where things are in their own lives. They know that real wages, meaning your income adjusted for the things you need to buy in your life, real wages have declined for 19 consecutive months. That is the worst streak in all of American history. You are working harder to get poorer every single month. And the American people clearly know that. To your point about the fed, look, the Federal Reserve is every bit as complicit in creating this inflationary madness as is Joe Biden and the Congress, you know, particularly Schumer and Pelosi. All of them share in the blame here. Now the fed I will at least say this to its credit. It seems to have found religion, but very conveniently largely after the midterm elections. So for example, just this past weekend, the president of the St. Louis fed bullard made some very aggressive comments about how much the fed needs to raise interest rates to try to rein in this inflationary madness that the fed fed chief themselves helped to create. Now, he's very late, but better late than never. And I think the fed finally has come to grips with the crisis that they help to create. And
The Dan Bongino Show
Rep. Chip Roy: We Are Empowering Our Enemies Like the Saudis
"Degree of lying from this White House is unprecedented The whipping incident inflation is transitory There are no Americans in Afghanistan The student loan program is free It goes on and on and on Now they got caught again with this illicit Saudi oil for votes thing they're trying to push before the election I mean you being from Texas That has to really piss you off considering your state is floating on a sea of petrochemicals that a Biden would get out of the darn way Texas could power the whole country probably It's got to be annoying Yeah I mean to say the least It's terrible because of what we could be doing Not just for our own country in lowering the price of gasoline and making sure that we've got reliable grids because we've got so much energy that we can produce in this country especially if we unleash nuclear as well But it's just ridiculous that we are empowering our enemies Like in what world do you the greatest country in the history of the world the strongest country in the history of the world Go and kiss the ring of the Saudis and beg them beg them to open up oil because you need it for elections We had a whole impeachment kerfuffle over a phone call Trump had with zelensky And this son of a gun literally is begging the Saudis to open up oil So we can try to save the country After by the way dumping our almost our entire strategic petroleum reserve from something like 700 million barrels were down to 300 million barrels and depleting and all so that they can try to save the election That's what they're doing to go gas prices are going down Yeah you're dumping the strategic trolling reserve while you kill our ability to produce oil and gas in this country It's absurd It's hurting our national security and it's hurting our economy And it's all for these unicorn theories of energy by the way It's just ridiculous
Bloomberg Radio New York
"strategic petroleum reserve" Discussed on Bloomberg Radio New York
"It was a tough time on global Wall Street, but nowhere was a tougher than at number 10 Downing Street. Where Liz truss is on her way to becoming the shortest serving prime minister in British history, forced to resign after concluding she just couldn't get done. What she'd set out to do I can not deliver the mandate on which I was elected by the Conservative Party. I have therefore spoken to his majesty the king to notify him that I am resigning as leader of the Conservative Party. It wasn't easy for President Biden either, as he continued to fight high gas prices for which he largely blamed the oil companies and counted with yet another release from the strategic petroleum reserve. The Department of Energy released another 15 million barrels on the strategic petroleum reserve, extending our previously announced release through the month of December. The market spent the week looking for some form of rescue from earnings, and they did get a bit of it from companies like Netflix with Reed Hastings giving thanks. Well, thank God we're done with shrinking quarters. That's a big feeling of we're back to the positivity. But Tesla didn't help much by disappointing on sales, though Elon Musk predicted it would make it up in the fourth quarter. We're looking forward to a record breaking Q four. So it really doesn't work. It looks like we'll have an epic end of year. And although Goldman Sachs earnings were a pleasant surprise, chief DJ officer David Solomon said they have a fair amount of work to do. Importantly, talent is moving around tremendously at Goldman Sachs to align behind David Solomon's new new vision. The remix. The remix. I like that. Oh boy. And at the end
The Charlie Kirk Show
Congressional Candidate Joe Kent Discusses the Economy
"Is going into a totally awful direction, Joe, one of the first things I hope you do when you're a congressman is just say no to this insane spending spree. That has no basis in economic reality. I want to play cut 49 on how economy and inflation is the top concern of voters. Play cut 49. How about this? This is a New York Times poll brand new here asking voters, what's the top issue on your mind, this election? I haven't seen it this dramatic in a poll. Add the economy and inflation together. That is 44%. We're getting close to half of all respondents in this poll saying that's their top issue. Nothing else even cracks 10% right now. Joe your thoughts. Yeah, that reflects the reality on the ground. You can look at all the fancy charts, you want all day long, but you don't need a PhD in economics to understand what gas costs just two years ago. It was under $2 per gallon out here in Washington state. And people weren't being strangled every single day. I mean, right now, as it stands, one month or more of people's wages is going to be stolen this year alone, just due to inflation. And what is the Democrats solution? They want to keep gas astronomically high. Biden is making no efforts whatsoever to give people any kind of alleviation of the problem. My opponent said she'd sign on to the so called inflation reduction act that adds on new taxes to domestic energy production. And then like you said, the out of control spending. I mean, the three major pieces of legislation that Democrats passed this last Congress, it's estimated somewhere between 6 and $7 trillion more onto our deficit on the backs of our kids and grandkids. So this is right up in people's faces and this is bringing over a lot of independents. A lot of people have never been politically engaged before over to our side because they're just hearing more of the same and they've had two years of one party control and they are absolutely sick of that. Yeah, I mean, Joe has drained. I mean, actually rated our strategic petroleum reserve. It's unbelievable. Joe Kent for Congress dot com go there and support him that is Joe Kent for Congress dot com. He's running up against the total lunatic.
KOMO
"strategic petroleum reserve" Discussed on KOMO
"Administration will dip further into the strategic petroleum reserve in an effort to stabilize gas prices across the U.S., while pressing oil companies to do more to rein in the cost. With my announcement today, we're going to continue to stabilize markets and decrease the prices at a time when the actions of other countries have caused such volatility. ABC's Karen Travers and Alex stone were listening in as the president detailed these latest steps. Karen Democrats and Republicans disagree on what this is today and if it will really have any big impact. Yeah, and Alex, you heard the president there say it's not politically motivated and asking where Republicans who are questioning this have been for the past couple of months because of course this is an authorization that the president put in place back in the spring. And just to kind of give you a sense of what we're looking at here. This is 15 million more barrels of oil from the nation's stockpile. It's the last batch from an authorization of a 180 million barrels that the president authorized would be released over a total of 6 months. So this is it. And this will now come out in December. It's not a lot though, when you put it in the big context, Americans consume roughly 20 million barrels of oil per day. The White House has been insisting, they're announcing this now because it wasn't clear that they were going to actually do all 180 million barrels, but the timing is very notable, of course. We're less than three weeks to the midterm elections. Americans in polls keep saying that the economy inflation and gas prices are the top issues for them right now, but the president insisting this is not about campaign politics. This is about trying to do the right thing for American consumers. The president though acknowledging, there aren't many levers that he has to pull in order to bring down gas prices. And, you know, Alex, I know out in California, I don't have to tell you about gas prices. But they've started to drop in the last week, but the national average for a gallon of gas is still 20 cents higher today than it was a month ago. So the timing for The White House, they don't want this to become a big story over the next three weeks. That's why you see the president coming out today and talking about this. How big of an impact is this going to have 15 million barrels, as we say? It's not even a day of how much Americans use in gas. They are hoping though it's sending a message to the markets, it's sending a message to gas companies. And the other big important part of this for the president is announcing that the administration will replenish the strategic reserve one gas prices go down to $70 per barrel, as you say. And they're trying to incentivize for the domestic oil producers. Get it down, start cranking up the oil production, bring the prices down and we're going to buy it up from you. Yeah. We definitely feel it here in California. And yeah, 1 million barrels a day. What they said, Ian march. And now this being included in that, he's also Karen asking oil producers to pass along savings to consumers, but I mean, really, does that have any teeth to say, hey, be nice. Hey, help out consumers, no power behind it, but hey, you know, throw us a bone, help us out. It's a message we have heard from the president for months now. I have asked this question at White House briefings of what can he actually do to compel oil companies into any sort of action. There were meetings that the energy secretary had with some executives from oil companies at The White House. And they talked about next steps and conversations, but really there was nothing tangible that we heard came out of it. The president's message today was you shouldn't be using profits, record profits to buy back stock. You should be increasing production working on refining in order to bring down the prices at the pump. But as I said, Alex, a lot of this is more message, more rhetoric from the president, calling on these companies, giving them his advice on what they should be doing. We'll see if they heed that call. ABC's Karen Travers and Alex stone. Your stock charts dot com money update on news radio 1000 FM 97 7. So Tacoma, commercial real estate market is increasingly attracting the attention of national investors. Prices tend to
Mark Levin
Blake Masters: Mark Kelly Enables Joe Biden's Agenda
"I mean if people really do want to make a change in reverse course and send a message to Biden and the Democrats they have to vote for you and oppose this guy because this guy is one of their is one of their foot soldiers and we see them all over the country These are Democrats in the United States Senate He hasn't fought to close the border He hasn't fought against the high rise in crime He hasn't fought against illegal immigration He hasn't fought so that you have more fuel in Arizona Didn't done any of these things I assume that the people of Arizona want a fighter who agrees with them And that's your point right And tell me where you disagree with this guy Well I disagree with Mark Kelly on so much I mean he is just enabling Biden's agenda Like just look at the economy And it's like man are they are they just really incompetent Or is what we're seeing worse than incompetence right That's an interesting parlor game to play but it's like what do these geniuses think was going to happen Mark when they destroyed our energy independence Do you declare war on fossil fuels War on oil and gas in a country that's still mostly powered by oil and gas Gosh do you think that might make the price of energy shoot up And it did they took gasoline from $2 to $6 Now they want a metal because in Maricopa County it's back down in the 5s mainly because Biden is selling out oil from our strategic petroleum reserve compromising national security in a desperate bid to suppress gas prices before the midterms So they surrendered our energy independence They made energy too expensive That causes inflation in the economy And then they printed and spent $6 trillion Obviously that was going to cause some inflation So they're responsible for this We don't have to wonder where it came from It came from the Biden White House and Mark Kelly no matter what he says now he voted for all of these policies that are making Arizona family's suffer
WTOP
"strategic petroleum reserve" Discussed on WTOP
"100 points, NASDAQ down 92 S&P down 25. And the wizards tip off their new season in minutes. Tapping the nation's oil reserve. I have been doing everything in my power to reduce gas prices. Military crackdown in Russian annexed Ukraine. He did not elaborate exactly what was martial law with mean. COVID surge concerns. Quickly, this virus is involved. This is the CBS world news roundup late edition I'm Jennifer Kuiper in Chicago. President Biden says in an effort to keep gas prices steady, his administration will pull 15 million more barrels of oil from the strategic petroleum reserve, CBS Steven Portland. These move complete to draw down the president began in March. He was asked about criticism. He's doing it for political reasons. It's not politically motivated at all. It's motivated to make sure that I continue to push on what I've been pushing on. Republicans say mister Biden's unprecedented use of the oil reserve is left the U.S. vulnerable. It's at a level not seen since 1984, but the president says it's more than half full. Oil analyst Phil Flynn at price futures group says the president's plan may backfire. Decision to release 15 million barrels from the strategic petroleum reserve is really a short term band aid that is actually going to make prices go higher in the long run. Russian president Vladimir Putin says four regions of Moscow annexed from Ukraine are now under martial law. CBS's Mary aluna on what this could mean for residents. That allows the Russian military law enforcement a pretty wide set of possibilities what they can do. They can see civilian property. They can stop people for checks. They can limit their movement and however they want. They can produce a curfew. Ukraine's president is urging his people to not join the Russian army and says if they're forced into it, Ukrainians should lay down arms and come to Ukrainian positions. Near the U.S. Supreme Court building police search a vehicle arresting two people on weapons charges. CBS and Scott McFarland is there. Congressional source tells CBS News guns, including two handguns at a shotgun, were found in a white van stop steps away from the U.S. Supreme Court. An 81 year old man is under arrest on weapons charges, his adult
AP News Radio
President Biden to announce release of 15 million barrels of oil from strategic reserve
"President Biden's announcing another step aimed at lowering gas prices while fighting off criticism that he's moving simply to boost Democrats chances in next month's elections The president says prices at the pump are falling But they're not falling fast enough Families are hurting He's announced another 15 million barrels of oil while we released from the U.S. strategic petroleum reserve asked about critics saying that's a political ploy before the elections I've been doing this for how long now It's
WTOP
"strategic petroleum reserve" Discussed on WTOP
"IBW local 26, where electrical contractors come to grow. Good afternoon, I'm Sean Anderson. I'm Hillary Howard, Mike, Jakarta, says our producer. Our top story is gasoline prices, you may have noticed they're moving back up again. While President Biden is now out with his latest efforts to keep pump prices stable. He's announced another 15 million barrel release from the strategic petroleum reserve. The strategic petroleum reserve is more than half full with about 400 million barrels of oil. That's more than enough for any emergency drawdown. With my announcement today, we're going to continue to stabilize markets and decrease the prices at a time when the actions of other countries have caused such volatility. But the energy information administration says the 15 million barrel release would not even cover one full day's worth of oil in the U.S.. The president denies it's a politically motivated move just weeks before the midterms and Democrats are taking heat over inflation. Now the latest developments in the war in Ukraine, Russian president Vladimir Putin has declared martial law on the four illegally annexed regions of that country. It will go into effect tomorrow, but there are some concerns Putin may call for an attack on other countries. National security correspondent JJ green is headed to Eastern Europe for a security conference. He joined us earlier to talk about all this. The more he loses control, the more he seeks to grab for it, and there are some open discussion about will he now think more directly about using an a tactical nuclear weapon. He really doesn't have many options left in Ukraine because everything he's done has failed. Today's announcement follows several days of Russian missile and kamikaze drone strikes across Ukraine that's knocked out power and water to many areas. Meantime, some Republicans are questioning how much the U.S. is supporting Ukraine. And the top congressional Republican is warning that aid for Ukraine will come under closer scrutiny if the GOP retakes house control of the house. WTO's Mitchell Miller's on Capitol Hill. Conservatives like Virginia congressman bob good have made it clear they're skeptical about spending billions of additional dollars for Ukraine. No Republican should give one more cent to a government that doesn't care about our border, but once it sent $12 billion more to secure the border of Ukraine. And the house's top Republican, Kevin McCarthy, tells punchbowl news that if Republicans retake the house, they won't provide a blank check for Ukraine. McCarthy, who could become the next Speaker of the House, says he supports Ukraine's efforts to defeat Russia, but he says there has to be financial accountability. On capital hill, Mitchell Miller WTO, B news. British prime minister Liz truss has only been in power for a few troubled weeks, her latest setback, the resignation of her interior minister. And it puts her under more pressure from her own Conservative Party to resign. This
The Hugh Hewitt Show: Highly Concentrated
America Must Return to Energy Independents
"You know, one of the things leader McCarthy, that Katie Britt, who's about to be the next senator from Alabama, so excited for her to be in. One of the things she and I were just talking about is this choice that so many parents are making around the country. Women like me who are making the choice about filling their gas tank full of gas or going into the grocery store and filling up the cart of groceries. You know, we had energy independence under president Trump. We had all the supply that we needed. And now we see Biden begging allies Friends enemies for more supply for more oil supply. How can we force this administration to stop releasing 15 million more barrels of oil from the strategic petroleum reserve as they announced yesterday? How do we force them back into the energy independence that we had under the Trump administration? Well, that's putting the whole country at risk. That was designed as strategic reserve was designed for an emergency time period. He's using it trying to manipulate an election. Nothing to do about the market itself because he's gone after the energy in America. We should make put safeguards in that because we do not want to jeopardize. What if we had a hurricane? What if we had a situation that went further when it came to war or others? He has just jeopardized the American people. So we're going to have to safeguard that that you can not use that for your political gain. It would be used what it's supposed to. But we also have to go back and build what we need in America. You know,
The Charlie Kirk Show
Biden Administration to Tap Oil Reserve Again Ahead of Midterms
"Joe Biden to announce release of 1510 to 15 million more barrels from the emergency oil reserves for the midterm elections. Oh, so Joe Biden can just rob the strategic petroleum reserve without refilling it and using our own oil and natural gas for political purposes. Where's the Republican Party on this? It's coming out today. Joe Biden to release even more barrels of oil from the federal government's strategic reserve to keep gas low before the midterm elections. You see, they know something's happening. Every single poll shows the complete and total collapse of the Democrat party. Now, is it going to play out? I don't know. Is it a guarantee red wave of course? We could be surprised, by the way. It could be that we get complacent and you don't get your 30 friends to go out and vote. It could be that we just kind of phone it in and there could be a lot more abortion voters than we realize. But I'm starting to see a bubbling up effect. I am starting to see poll after poll trend after trend. For
WTOP
"strategic petroleum reserve" Discussed on WTOP
"Sports. Top stories were following for you tonight on WTO. President Biden is promising to reinstate federal protections to abortion access. If Democrats control enough seats in Congress next year, polls show that will be difficult in the house may not even happen in the Senate. A 24 year old Dale cityman is accused of killing the four people. He lived with yesterday. Now David main is charged with four counts of second degree murder. Prince William county police are still working on a motive for the killings, some of the victims, but not all had been shot to death. Igor donchenko, the primary source for the infamous Trump Russia dossier, was acquitted today of four counts of lying to the FBI. It's being called an embarrassing defeat for special counsel John Durham, he has taken two cases to trial both have ended in acquittals. Stay with WTO for more about these stories in minutes. President Biden now responding to recent oil production cuts announced by OPEC plus nations. Here's CBS News correspondent John Dickerson. The president will announce he is releasing 15 million barrels from America's strategic petroleum reserve in an effort to bring those prices down, but to put that in context, the U.S. uses nearly 20 million barrels of oil every day. The president also plans to announce more oil sales or possible in the coming months, the strategic petroleum reserve is at its lowest level since 1984 with roughly 400 million barrels of oil. Ten 18. Traffic and weather on the 8s and when it breaks, we're back with bob himmler in the traffic center. Oh no, they are working both ways on two 70 near route 85 at Bucky's town. You're getting by a single final to left in each direction around the work zone. And they're also working on 95 in both directions near the Voldemort beltway. South of town, south of cayden, you're getting by to the left past those work zones tonight. Meanwhile, Baltimore, Washington, Parkway also has road work near one 95 single left lane is getting by and 50 westbound approaching bay Dale driving toward the severn river bridge single right lane is getting passed. It works on green belt road at last report still closed in both directions, west of good luck road with a serious crash in the investigation, and in Virginia 95 northbound, you've got construction down to a single lane after centerport Parkway on the northbound side. X of one 36, single left lane gets by southbound 28 down to a single aim at the right approaching 66. Back on the beltway in Maryland, there were a couple of work zones now inter loop in Montgomery county after Connecticut avenue to right lanes get by and they're also working once again past Andrews on the outer loop after route four, getting by two lanes to
Bloomberg Radio New York
"strategic petroleum reserve" Discussed on Bloomberg Radio New York
"228 130, which is our House view, then I don't necessarily see a demand collapsing, and then it's all about supply. Bloomberg best, Bloomberg's best stories of the week, powered by 2700 journalists and analysts in more than a 120 countries around the world. Big week for crude oil with some huge gains earlier in the week, amid the ongoing volatility, and Saudis energy minister, prince Abdullah's has been Salman with us after OPEC plus announced the latest round of production cuts. In order for us to be attentive, we have to certainly be assertive, preemptive and we have to be proactive. Saw these energy minister prince Abdul Aziz bin Solomon. Meantime, Christian Malik, analyst at JPMorgan, tells Bloomberg's Tom Keene and Lisa Brahman. There's a lot of pressure on the oil prices to rise from here, including. Capacity is short Tom. We're seeing a repricing of oil to the marginal barrel and it's away from out there. It's away from OPEC and it's going back into control of the majors who are representing some of between 35 to 40% of the world's oil. And then on spending, they're not investing at these levels, which then begs the question, what price will they spend? Will they grow their production? And reinvest into those long-term projects. And I think we're going to need a significantly higher price, which in some ways is potentially what I think is trying to do. They're trying to defend. But the backing. The trying of OPEC, I have the memory of 1986, oil plunging 24% is my quick mathematics. How close is the cartel to a 1986? I think in terms of how close they are, that will all depend on how demand response to the current price. And we know that there are looking for a higher price potentially closer to where their fiscal break-even czar ultimately is not just the break even of the countries. It's also what they want in terms of defending social reform and we know there's a lot of issues at the moment with the high energy prices. So that price level versus what the U.S. wants suggests there's arguably a price war that's emerging between these two continents, but in the end, if demand can respond at 228 130, which is our House view, then I don't necessarily see demand collapsing. And then it's all about supply. It's a supply driven crisis, which is ultimately where our supercycle thesis projects for the next 5 to 7 years. Where are we in terms of the U.S. as a swing producer at this point, given the lack of investment in the shale patch and just generally throughout the energy sector? It's interesting. It's like it's being dismantled. It's part of rusted. You put it back together again. It's just not as effective in terms of productivity in terms of production, volumes, and ultimately they've got used to returning cash and getting more popular with Wall Street. So you have to sort of think about what price they need to cover. They're all their CAPEX. All their cash return as well as a price they can necessarily see much bigger volumes of growth with all the money in the world. And that's much higher. This closer to age to $90. So we're not seeing as much volume growth this year close to 700, 800,000 barrels, similar to next year. And I think that's the key. So right now, if you're not seeing production increase and you're actually seeing production cuts at OPEC plus, where does the marginal stopgap come in? We talk about the strategic petroleum reserve and how much the U.S. has already drawn down on some of those reserves. The world is short energy. Across all fuels. And that's what we've been talking through this year. The key here is that the marginal jewel, if you like, is oil, then so they like saying to your customers that have a good news and bad news. The good news is I've got oil, you know, still got some energy. The bad news you're going to have to pay a lot more for it. Christian Malik analyst at JPMorgan with Bloomberg's Tom Kean and Lisa bromwell. And Damien corville and head of energy research at Goldman Sachs is also bullish on oil, and he tells Bloomberg's Kathleen Hayes oil prices will rise unless. Significant economic hard landing remains to bearish risk to oil prices here. And absent that risk, the market at $90 is already pricing weak economic growth. So we really need that sequential slowdown. All the developments we've seen on the supply side at this point, very much such a stage for what we believe will be higher prices into the end of this year. So really I would focus on that economic sharp slowdown as the one risk to the bullish half a million. It has to be a meaningful slowdown from. All right. So what does this mean for investors? And that question has many angles because you might say, oh, energy companies. The Giants, you might say, well, it's going to mean that macroeconomic things look a little better for the oil exporters. How do you answer that question? That sergeant of you that oil prices are not high enough to balance the commodity market. Let's start there. Demand has outstripped supply pretty much continuously since May of 2020. And with this cut and the winter seasonal demand, inventories will continue to fall. So we do need higher prices to solve this deficit. So that's the commodity. Ultimately, what stops the increase in commodity prices for the years to come has to be more supply. I think that's the defining driver of higher prices for the last couple of years. We don't have enough investment in new productive capacity. So you could think of oil prices as negative to the macro in the short run. But if no one's growing capacity, it's an even bigger headwind to economic growth for the years to come. So that means the equities also will have to appreciate. They will be the driver of that CAPEX investors will be allocating to the sector. So our strategies are overweight, the energy equity sector, and we're polished the commodity itself. Debian corville, head of energy research at Goldman Sachs, with Bloomberg's Kathleen Hayes. And coming up, LGBTQ+
Bloomberg Radio New York
"strategic petroleum reserve" Discussed on Bloomberg Radio New York
"128 130, which is our House view, then I don't necessarily see a demand collapsing, and then it's all about supply. Bloomberg best, Bloomberg's best stories of the week, powered by 2700 journalists and analysts in more than a 120 countries around the world. Big week for crude oil with some huge gains earlier in the week, amid the ongoing volatility, and Saudis energy minister, prince Abdullah's has been Salman with us after OPEC plus announced the latest round of production cuts. In order for us to be attentive, we have to certainly be assertive, preemptive and we have to be proactive. Saudis energy minister prince Abdul Aziz bin Salman. Meantime, Christian Malik, analyst at JPMorgan, tells Bloomberg's Tom Keene and Lisa Brahman. There's a lot of pressure on the oil prices to rise from here, including. Capacity is short Tom. We're seeing a repricing of oil to the marginal barrel, and it's away from a bit. It's away from OPEC and is going back into control of the majors who are representing some of between 35 to 40% of the world's oil. And then on spending, they're not investing at these levels, which then begs the question, what price will they spend? Will they grow their production? And reinvest into those long-term projects. I think we're going to need a significantly higher price, which in some ways is potentially what our bank is trying to do. They're trying to defend. Right. But the backing. The trying of OPEC, I have the memory of 1986, oil plunging 24% is my quick mathematics. How close is the cartel to a 1986? I think in terms of how close they are, that will all depend on how demand responds to the current price. And we know that there are looking for a higher price, potentially closer to where their fiscal break evens are, ultimately, it's not just the break even of the countries. It's also what they want in terms of defending social reform and we know there's a lot of issues at the moment with the high energy prices. So that price level versus what the U.S. wants suggests there's arguably a price war that's emerging between these two continents, but in the end, if demand can respond at 228 130, which is our House view, then I don't necessarily see demand collapsing. And then it's all about supply. It's a supply driven crisis, which is ultimately where our supercycle thesis projects for the next 5 to 7 years. Where are we in terms of the U.S. as a swing producer at this point, given the lack of investment in the shale patch and just generally throughout the energy sector? It's interesting. It's like it's being dismantled. It's parts of rust. You put it back together again, it's just not as effective in terms of productivity in terms of production, volumes, and ultimately they've got used to returning cash and getting more popular with Wall Street. So you have to sort of think about what price they need to cover. They're all their CAPEX, all their cash return, as well as a price that can necessarily see much bigger volumes of growth. With all the money in the world and that's much higher, this closer to 80 to $90. So we're not seeing as much volume growth this year close to 700, 800,000 barrels, similar to next year. And I think that's the key. So right now, if you're not seeing production increase and you're actually seeing production cuts at OPEC plus, where does the marginal stopgap come in? We talk about the strategic petroleum reserve and how much the U.S. has already drawn down on some of those reserves. The world is short energy. Across all fuels. And that's what we've been talking through this year. The key here is that the marginal jewel, if you like, is oil, there's a bit like saying to your customers, but good news and bad news. The good news is I've got oil, you know, still got some energy. The bad news is you have to pay a lot more for it. Christian may look analyst at JPMorgan with Bloomberg's Tom Keene and Lisa bromwell. And Damien corville and head of energy research at Goldman Sachs is also bullish on oil, and he tells Bloomberg's Kathleen Hayes, oil prices will rise unless. Significant economic hard landing remains bearish risk to oil prices here. And absent that risk, the market at $90 is already pricing weak economic growth. So we really need that sequential slowdown. All the developments we've seen on the supply side at this point, very much such a stage for what we believe will be higher prices into the end of this year. So really, I would focus on that economic sharp slowdown as the one risk to be bullish. It has to be a meaningful slowdown. All right. So what does this mean for investors? And that question has many angles because you might say, oh, energy companies. The Giants, you might say, well, it's going to mean that macroeconomic things look a little better for the oil exporters. How do you answer that question? The view that oil prices are not high enough to balance the commodity market. Let's start there. Demand has outstripped supply pretty much continuously since May of 2020. And with this cut and the winter seasonal demand, inventories will continue to fall. So we do need higher prices to solve this deficit. So that's the commodity. Ultimately, what stops the increase in commodity prices for the years to come has to be more supply. I think that's the defining driver of higher prices for the last couple of years. We don't have enough investment in new productive capacity. So you could think of oil prices as negative to the macro in the short run. But if no one's growing capacity, it's an even bigger headwind to economic growth for the years to come. So that means the equities also will have to appreciate. They will be the driver of that CAPEX investors will be allocating to the sector. So our strategists are overweight, the energy equity sector, and we're bullish the commodity itself. Debian corville, head of energy research at Goldman Sachs, with Bloomberg's Kathleen Hayes. And coming up, LGBTQ+
ToddCast Podcast with Todd Starnes
Sen. Bill Hagerty: The Challenges of Talking to Democrat Senators
"Bill, when you talk to your fellow senators on the Democrat side of the aisle and I talk to a lot of Republican senators and House members, very few of them are actually talking to people across the aisle because there's really nothing they can offer that is worth a conversation. But do you hear from any of the senators from these blue states? I mean, Joe Manchin sold out his state for a promise that Schumer broke. I mean, you've got senators in Louisiana that are oil producing states. Do they do they even try to excuse what this administration is doing? You know, it's really challenging. I saw that today, Chuck Schumer came out and said, we're going to pursue notepad, which is allowing the organization of the OPEC states to Saudis the UAE to be sued in U.S. antitrust courts for price fixing. That's the solution to the fact that rather than pumping more oil and gas to make us more dependent on them. They decided to pump less. And he's going to be very tough. He's going to be bipartisan in terms of imposing that solution. But he doesn't mention the fact that it's his own administration that took us from energy independence less than two years ago to a position where we're now on our knees begging the Saudis a bit bigger than the UAE to put more oral and they're flipping their nose at us. And saying, you know what, we're actually going to cut back on it. We're going to drive prices even further through the roof. We're going to take your own strategic petroleum reserves from you and we're going to sell it back to you at a higher price.
ToddCast Podcast with Todd Starnes
Sen. Bill Hagerty: Losing Our Credibility With Bad Energy Policies
"The disaster that we've created with energy policy where the president had to go hat in hand to bed the begged the Saudis for relief, which they've now decided they're going to cut the oil production by 2 million barrels a day. We could be producing about a million barrels a day with the Keystone if we hadn't had that shut off by this administration. First thing when they were in business, we're not going to release even more from our strategic petroleum reserve. Diminishing by another 10 million barrels, putting us at the lowest level since the early 80s with that reserve, we're losing not only the economic clout by not being energy independent, but as you've seen again as being an ambassador in being involved in the foreign arena for a long time, we lose our political clout and our foreign influence cloud as well. That's absolutely true. We were in a position under the Trump administration where we were actually net energy exporter, Steve, and when I was ambassador Japan, I urged them to make billions of dollars investment, which they did to import U.S. LNG. So we've taken a real turn for the worse. From our national security perspective. And if you look at this administration's cow towing to these killers overseas, they're going hat in hand to Venezuela begging Maduro. The negotiating with the Iranian. You know, it was an embarrassment a national embarrassment when Joe Biden goes over to meet with the Saudis to beg them to pump more and they turn around and OPEC decides what we're going to pop a couple of million barrels left. Take that. And you know what's even more insulting, Steve, and this is gotten very little notice in the media. But you mentioned that Biden has been unloading the strategic petroleum reserve. He's doing that because he's got a political problem. This isn't strategic from a national security standpoint. This is strategic for may November election standpoint. That's why he's unloading our petroleum reserves now to try and hold down gas prices to try and get his ratings back up in time for the midterm elections. He's
ToddCast Podcast with Todd Starnes
Thank the Biden Administration for High Gas Prices
"What we've seen in the last several weeks is gas prices have come down a little bit. Now the Biden administration is trying to take credit, claiming that there are a buck 30 less than they were at the high. Yeah, well, there are bucked 50 higher than when you took office you moron. And why did they go up because as soon as Joe Biden took office, he turned the spigot off of the Keystone pipeline, made it more difficult for energy companies to get natural gas to get oil. Declared war earlier on coal companies has been shutting down coal plants and coal production. Meanwhile, you've got China building a hundred. A hundred new coal facilities while we're closing them in this country. While Europe is getting ready to freeze to death during the winter months. The Biden administration created the energy crisis and then tried to blame it on Putin when the prices had already gone up substantially when inflation had already risen dramatically before Putin ever did anything in Ukraine. So the Biden administration has been trying to blame everybody and then started releasing oil from our strategic petroleum reserve. Just to temporarily lower the gas prices, and it worked a little bit over the last month. But now the Saudis are getting ready to cut production by two million barrels per day. Keep in mind the Keystone pipeline would have been about 883,000 barrels per day, but we turned that off. So about half of what the Saudis are reducing, we turned off. And then we're releasing another 10 million barrels from the strategic plutonium reserve again putting us deeper in the hole. Just to give a temporary respite at the gas pump, but it's not going to work.
The Hugh Hewitt Show: Highly Concentrated
Biden Taps Into Strategic Reserves to Slow Rising Gas Prices
"Now, I want to talk about the strategic petroleum reserve. The president has ordered the release of still more of our strategic petroleum reserve. One of my my friends online. Jerry Hendrix tells me, look, no one is talking about the damage being done to the salt domes where the oil is stored by the massive drawdown. We may actually have to move to a new storage facility because of the steepness of this drawdown and the resulting calving of the salt domes. I just can't believe the president is getting away with so naked a political stunt as taking strategic petroleum out to buoy Democrats hopes, but the price rises are too high. Nevertheless, it ought not to go on rebuked. No, it's not and it has not and it will not. And that's one of the things that will look into and conducting oversight hearings when we went back control of the Congress. Because these strategic controllers are not the political petroleum reserve. That was created years ago for something like the Arab oil embargo back in the days when we were much more dependent on foreign oil than we have since become. Or for instance, if you had a hurricane the size of Ian had not Florida, but just Gulf Coast and taken out refining capacity for the country. It wasn't designed to help the Democrats deal with the short term political problems, their own policies have created. Look, they want to do this. They want gas prices to be 5, 6, $7 down. And they just don't want it to happen in an October for an election year. So even Joe Biden realizes this is politically inconvenient. And
The Hugh Hewitt Show: Highly Concentrated
OPEC Cuts Oil Production As Gas Prices Rise in US
"Top of that comes the announcement from OPEC plus, it's not just our gulf state allies and friends. It's Iran. It's Russia. It's Venezuela. OPEC plus is cutting oil production. The consequence of that is, of course, rising gas prices here. President Biden moved to release more of our strategic petroleum reserve, which is truly a bad idea. The strategic petroleum reserve is for war, not for presidential, not for off year elections. That's why he's doing it. But it's not going to help. It's just not going to help. U.S. gasoline prices follow crude higher, according to The New York Times. Gas prices rose for a 15th consecutive day on Wednesday. Propelled by the turnaround in crude oil prices, The Wall Street Journal headline U.S. gasoline prices are climbing again and may get worse. Maintenance at fuel making plants more demand for gasoline and tight fuel supplies that contributed to a run of increasing gasoline prices a gallon of regular averaged about $3 and 83 cents on Wednesday. Today is Thursday, so expect it to be more expensive. I'm saying we're going to get to $4 gas by the end of next week and probably $5 gas by the election.
WTOP
"strategic petroleum reserve" Discussed on WTOP
"Game at bet MGM. This is WTO news. Well, it looks like higher gas prices may be on the way the OPEC plus alliance of oil exporting countries deciding now to sharply cut production to support stacking oil prices. This move could actually deal the struggling global economy another big blow that raised politically sensitive pump prices here in the U.S. just ahead of the key national elections, the midterms. This morning's up closer. Global heads of energy analysis for the oil price information service on what the alliance is doing right now. First of all, they're not actually going to cut by 2 million. They pay lip service to that, but they've been under producing by about three and a half million barrels a day. So the ability to cut is hindered. And it's actually going to be about 900,000 barrels a day. However, that leads to some interesting chess moves with the strategic petroleum reserve. We've been releasing about 1 million barrels a day and that will continue into portions of November. When it ends, it ends and you lose another million barrels a day. I don't think you're going to see this manifest itself in a spike in gasoline prices this month, but I think it's something to put aside for the spring. And you will see higher prices in the spring. You may have to worry about heating oil. You have to fuel and diesel in the next few months. The Biden administration is also talking about the possibility of a ban on American fuel exports as a way to protect domestic energy supplies. How likely is that to come about? Opinion here is that that's not likely and it's just jaw boning to try to get refiners to voluntarily reduce some of the stuff they're sending overseas. Europe needs a lot of our product. So it would be difficult to cut them off with some sort of controls. Latin America might be sort of the loser in all of this because we shipped probably about 1.6 million barrels a day of diesel and 8 or 900,000 barrels a day of gasoline, mostly to Latin America. But the oil price information service
Mark Levin
What Is the White House Doing About Rising Gas Prices?
"Jean Pierre Jean Pierre what the hell is your real name I don't even know what's your full name Corinne Jean Pierre whatever So she's on Air Force One at a press briefing today and I thought somebody asked a pretty good question Cut sex go One in here You said yesterday that we're not going to be considering new releases from the strategic petroleum reserve So what is The White House planning to do to keep gas prices from spiking So as you know we've been working on this for months The president has made taken historic steps to keep gas prices down So here's so gas prices we have seen increase in the west and the Midwest in recent weeks Because of specific refinery issues we've called on those refiners to operate safely but quickly come back online and they're not going to do anything And now they reverse course an hour later they are Tapping into the strategic petroleum reserve so they can get their little heroin high But this is big big big big big trouble ladies and gentlemen That's what it is
The Dan Bongino Show
Karine Jean-Pierre: Biden Is Not Responsible for Gas Prices Going Up
"Peter doocy asks a perfectly sensible question yesterday of a Korean champ here And he says listen this just seems kind of strange You know gas prices temporarily slowed down a little bit They dropped a little bit and Joe Biden was in front of the cameras taking a victory lap as if his anti gas anti oil products excuse me policies at anything to do with it It just seems insane right Now that gas prices are going up again is he responsible for that A Korean championship Psaki would have given a better lying answer Queen John pierce is not very good at this Here take a listen You said the president was responsible for gas prices coming down Is the president responsible for gas prices going up So it's a lot more nuance than that right Peter you know this There have been global challenges that we have all have dealt with when I say all meaning other countries as well have dealt with since the pandemic There's been pandemic and there's been Putin's war And Putin's war has increased gas prices at the pump We have seen that over the past several months And what the president was able to do he took some historic steps when you think about the strategic petroleum reserve and making sure that we were able to do everything that we can to bring that cost down for American families Give them a little bit more of a breathing room And we saw that We saw that every day this summer over a saving American families over a dollar per gallon And so that is what the president is going to continue to stay focused on our American consumers how do we continue to keep to keep prices down That's why we did the inflation reduction act That's why we talk about the chips act All of these things are going to help Americans here
The Trish Regan Show
Trish Examines the Risk to Our Markets in the Coming Months
"Anyway, I want to get to what Stan was saying there with my friend Joe kernan at CNBC at a conference that they had recently take a listen to this because this is a guy who's seen it all a brilliant investor. Here's what he thinks. I will be stunned if we don't have a recession in 23. Don't know the timing, but certainly by the end of 23, I will not be surprised if it's not larger than the so called average garden variety. And I don't rule out, not my forecast, but I don't rule out something really bad. Why? Because if you look at the liquidity situation that has driven this, we're going to go from all this QE to QT, we're following an asset bubble, we've been doing all this running down on the SPR, which is now that's the strategic patrol in reserve. He's talking about the strategic petroleum reserve, and he's pointing out the Q T, which is the quantitative tiny. In other words, the fed is sucking all this money out of the system and he goes on to explain how many mistakes Janet Yellen made in all of this, but you've been spending so much money for so long and now you're doing the reverse. How do you not have a recession? But I think my friend Neil, we'll talk to him a little bit. In a little bit, I think he would argue this has been a long time come a long time coming because even before 2020, you had an extraordinarily aggressive fed. And it makes it so that we're facing a more catastrophic type of environment.
The Trish Regan Show
Top Bank CEO Declines Radical Climate Demands From Rep. Tlaib
"Go for it. Go do all the green energy stuff you want, but don't simultaneously destroy the foundation of America's middle class in the process, which is something that the CEO of JPMorgan, Jamie Dimon, said quite eloquently as he confronted Rashida to leave on Capitol Hill last week, listen to this. So no new fossil fuel production starting today. That's so that's like zero. Well, I would like to ask all of you and go down the list because again, you all are agreed to doing this. Please answer with a simple yes or no. Does your bank have a policy against funding new oil and gas products? Mister diamond. Absolutely not, and that would be the road to hell for America. Yeah. That's fine. That's why sir, you know what? Everybody that got relief from student loans has a bank account with your bank should probably take out their account and close their account. The fact that you're not even there to help relieve many of the folks that are in debt, extreme debt because of student loan debt and you're out there criticizing it. Okay, so that was a bit of a non sequitur. We went from, you can't fund fossil fuels, how dare you, he said, well, if I didn't, it would be a road to hell. Which he's right. We'll get into in just a second, but I can't help but notice she went straight from that to student loans and you got to cancel your student loan and a JPMorgan checking account or something. Which is a whole other topic, right? Because I think that many of us feel quite strongly that this student loan giveaway is just another inflationary tactic by this administration to try to buy votes, especially with a group of people that they're not doing very well with. But what Jamie Dimon said, was that it would be the road to hell and the reason it would be the road to health for America and we're already seeing evidence of this is because people can't afford $10 gasoline and when you look at the numbers and you consider the fact that this SPR strategic petroleum reserve is at the lowest level it's been at since 1984 and we haven't even begun the pain of what's coming this winter when Russia comes offline, we could have a lot more problems ahead and gas prices will most likely continue to escalate
The Trish Regan Show
The President Doesn't Understand Basic Economics
"Recent comments by the president. For example, what he was saying out there over the weekend referring to gas prices. Here we go. And in 41 states, plus the District of Columbia, the average gasoline price is less than $2 and 99 cents. Not exactly true, in fact, it actually took CNN to have to come out and correct him on that one. There's nowhere in America right now. Not 41 states actually nowhere. Where gas prices are less than $2 and 99 cents. Now maybe he gets his twos in his threes mixed up, The White House had to come out and change the record, set the record straight on that in the transcript. But it's not that he just doesn't know the price of gas, nationwide, which, by the way, is $3 and 68 cents a gallon right now. It's that he is taking credit, repeatedly for things by just messing up his numbers whenever he seems to think it's worthwhile to do so, listen to him here. Gas prices. I know I got criticized for going to the stockpile. Well, guess what? Gas prices are down. A dollar 30 a gallon. Well, maybe in the last couple of months, but if you actually really want to think about that, gas prices are up a dollar 29 about a dollar, 30 cents. He came to office. In January, January of 2020, the national average was $2 and 39 cents a gallon. Now it's 360 eight. Which do you prefer? He's very proud that he's gotten the numbers to come down recently. That was in part, of course, because he went and tapped something that is not supposed to be tapped. And now I got criticized for going to the stockpile. Well, guess what? Gas prices are down. You got criticized because there's something called the strategic petroleum reserve. That stockpile is strategic, meaning it's there if the security of our energy supply is in fact threatened, and it turned out our energy supply security was not being threatened, but politically speaking, the Democrats were. And he's going to
The Doug Collins Podcast
Is There Hope for the Future of America? Dr. Mike Burgess Weighs In
"Hope not that we're going to turn the conservatives will win back the House Republicans will win back the house and hopefully the Senate that at least can put a damper on some of these things and moving forward because I mean, we went through an administration that frankly just does it seem to care. Just your last hot take on that. I mean, what's the feeling right now in D.C.? Well, if the election is about security, if it's about immigration, if it's about border security, if it's about cost of living that has been out of control for months and months and months, I think Republicans have a good have a good shot. There will be a lot of effort on the other side. A lot of time and effort spent on trying to make the election about other things. But look, the president in his 60 minutes interview the other day said, oh, inflation is just an inch up. I'm sorry. It's an inch, but it's a puncture wound, and it's hurting American families. And they're dealing with it every day. Sure, gas prices have come down a little bit because you exhausted this strategic petroleum reserve to artificially depress the price. That's going to run out about the same time that we come into this fall election, but that was that was the strategy to deal with inflation is let's just buy down gas prices with our strategic petroleum reserve, but every other price, every other pocketbook issue is hitting people and sitting them pretty hard. Supply chain continues to be a problem. I don't know about where you live in Georgia but I'll tell you in north Texas. It's not unusual for me to go into my neighborhood Walmart and see a lot of things that are just not available. A lot of empty shelves that has been going out at one point. You said, well, that's a pandemic. President said the pandemic's over. When are we going to start to find the goods we need on the supermarket shelves? So these are these are big questions that people who are going to the polls as follow are going to have to answer if you let yourself get distracted by something that it's not about. And that's what the Democrats are going to try to do.
The Larry Elder Show
"strategic petroleum reserve" Discussed on The Larry Elder Show
"We have lost respect. Remember how they talked about Trump? Trump is going to lose respect of our allies, we've lost respect and now we're in grave danger because China is on the march and you have this corrupt see now a compromise Biden in The White House that's making life miserable and really dangerous for all of us had to breitbart. Joe Biden's administration sold 950,000 barrels of oil from the U.S. strategic petroleum reserve to a Chinese state owned gas company that has financial ties to a private equity firm cofounded by Hunter Biden, this according to a Washington free Beacon report. There's all types of stuff going on right here. First off, the strategic petroleum reserve is for what? For emergencies. We don't have an emergency in the United States of America when it comes to our oil. We have a, we have an administration and a party in the Democrat party that has wage war on fossil fuels and now and now we're feeling the pain at the pump. You and I were struggling to pay our bills where struggling to put food on the table, struggling to put gas in the car and this fool and The White House is selling oil from our strategic petroleum reserve to our enemies. To our enemies, I don't like just throwing words around people call in sometimes on when I'm on radio and say trader and treason, I don't know how you defend this without using those words. This is unreal. In April, Biden's Department of Energy announced a nearly 1 million barrel sale to uni peck, which is the trading arm of sinopec. Sign a pick or cine peck is a wholly owned and operated by the CCP. So what do they do? Uni peck reportedly purchases oil from across the globe and then they sell it through their cine pick marketing subsidiary. Subsidiary. So according to uni peck's linkage page or LinkedIn page, here's what they say. Uni peck America is a wholly owned subsidiary, subsidiary of the China international United petroleum and chemical company, better known as uni peck. Uni pek is a trading arm of, currently number two, the number two largest company on the global Fortune 500 list. This in 2019. So now, Hunter Biden cofounded an equity firm that has a $2 billion stake all right, president of the United States. I hate saying that, but all right, let's use it for this for this argument, all right? The president of the United States, the most powerful man in the world. Sales oil, he won't allow companies to drill on federal lands oil and gas leases. They just pretty much shut them down for the year, right? They just shut them down. Keystone XL pipeline done millions of acres in Alaska, you know, and wore golf of Mexico. No, you're not going to do anything with that oil and gas companies. So the people in the United States of America are going to be struggling to pay for fuel at the pump. We're going to just continue to blame Putin for that. But then we get The White House gets a lot of backlash and so they say, you know what? Okay, we're going to release oil from the strategic petroleum reserve. Those of us with common sense say no, that's an emergency. We don't need to do that. They do it anyway. And then you wonder why, man, it didn't make a blip on the radar. It was only going to make a blip of a few cents anyway, but it didn't really make a blip on the radar. Why not? Because they're shipping it overseas to our enemies. Un freaking believable..
The Trish Regan Show
"strategic petroleum reserve" Discussed on The Trish Regan Show
"I want to get to oil because oil is continuing to move higher in today's market and I don't think we've seen anything yet. I actually think that oil is going to get really, really high. We're looking at about a 101 $102 per barrel right now. And that's in part, it's been eased because the president came out and said he was releasing the strategic petroleum reserve over the course of the next 6 months, which would be a 180 million barrels that would be released into the oil supply, but I'm going to tell you this, it's not enough. It's not enough, and it's only 6 months, and we've got to figure out a better long-term solution here. Because we can't be dependent on the likes of Russia. I'm sorry, but this is truly awful what we're witnessing right now. And what came out over the weekend is devastating and you can look at it in many places. I don't even want to show you. The kind of thing that makes you sick to your stomach and you think how can a nation be so horrible so horrible to its neighbors so horrible to its brothers and sisters and cousins and we see Russia, Russia is clearly capable of some pretty horrific awful stuff. So let me reiterate. We don't want to be giving them any business. We don't want to be giving them any money any any trade whatsoever in light of everything that we have learned. It's time for the United States of America to be completely self
WTOP
"strategic petroleum reserve" Discussed on WTOP
"We'll talk about the latest on what Russia is up to in Ukraine with an expert from the foundation for defense of democracies That's at 7 ten It's 7 o'clock The president moves to cut prices at the pump 1 million barrels per day Day 37 of Russia's war in Ukraine The Ukrainians appear to be clawing back territory Former president son in law testifies about January 6th This is a high water mark for this house committee This is the CBS world news roundup late edition a matte piper in New York The president is criticizing oil companies which he says are sitting on record profits He's announced up to 180 million barrels of oil to be released from the strategic petroleum reserve to try and help bring down the cost of gas I get it The president says he understands Americans feel pain at the pump My plan is going to help ease that paint today The unprecedented release of a million barrels of oil per day from the strategic petroleum reserve is designed to be a bridge mister Biden says until domestic production ramps up later this year But how much will his move impact gas prices The president couldn't say My guess is we'll see it come down continue to come down But how far down I don't think anyone can tell Stephen portnoy CBS News The White House But the decision is getting pushed back from oil industry analysts like Phil Flynn The strategic petroleum reserve is not to try to manipulate prices It's supposed to be used to put oil on the market when there's a short term disruption of supply The average price of gas is four 23 a gallon Now to the war in Ukraine President Biden says it appears Russian president Putin is self isolated and may have fired some of his advisers CBS Holly Williams is in Ukraine president zelensky's hometown She says Ukrainian troops appear to be clawing back territory from Russia's troops south of there and describes what she's seen Burned out Russian armored personnel carriers and Russian trenches whether Ukrainians said that they had captured and killed Russian soldiers and where the Russians had left behind clothing shoes cooking utensils at food including pickled vegetables and eggs and the Ukrainians actually said that a lot of that food was looted because as we've heard before the Russians do seem to be running short of food in some places Jared Kushner former president Trump's son in law and one time top adviser has appeared virtually before the committee investigating the January 6th capitol insurrection but says CBS Scott mcfarlane on Capitol Hill Jared Kushner wasn't in Washington D.C. January 6th He wasn't in the United States January 6th He was overseas on travel so it's unclear what he can offer about that morning in about that day On Wall Street the Dow lost 5 50 the NASDAQ was down two 22 S&P losing 72 points Now this hour's newscast is presented by rocket mortgage Need to know what it takes for a home loan to fit your budget and your family rocket can All right good evening It's 7 O three on this Thursday night March 31st 2022 We have 65° in Washington and we are headed down to.
WTOP
"strategic petroleum reserve" Discussed on WTOP
"Barrels of crude from the strategic petroleum reserve The move is coordinated in an effort between energy consuming nations including India China Japan Korea and the UK it's the first such move of its kind Let's talk about it with Timothy puko who reports for energy policy for The Wall Street Journal Thanks so much for being with us Timothy What effect if any is this going to have on gas prices And this might be an unsatisfying answer but we don't know Oil prices are obviously feed into gasoline but there is no direct correlation between oil markets and gasoline markets And even if the administration does succeed in driving food prices lower because they're putting this oil onto the market It could take weeks if that filters down to lower gas prices for consumers And in fact may never reach them at all So if nothing else maybe it's just a symbolic move so that the national leaders can say we're doing something about this Well analysts who are following this say that politics are certainly at play We've seen the president's poll numbers decline pretty severely This year just throughout the year gas prices have gone up Pretty sharply throughout the year as well And what we have heard from inside The White House is that has been a huge political concern for many of his top advisers And so they have been working for weeks if not months now on all types of different solutions figuring out what might be best Their options are very limited And so a lot of the analysts that we talked to follow this say from their vantage point it's pretty clear that the Biden administration is committed to at least appearing like they're doing something showing consumers that they're trying even if the ultimate effects of that might be limited How tip of the lizard to use the reserve for something like this as opposed to saving it for real emergencies which is what it's meant for Well there are provisions for emergency authorizations And I think that throughout the reserve's history is typically how people think of it And we haven't had an emergency release that has been coordinated similar to this one with many other countries in about a decade And the last time that happened and the handful of times that did happen it was either tied to supply disruptions from war in major exporting countries or from damage to the U.S. offshore network from hurricanes in the United States But I will point out that releases from the reserve have become a lot more common in recent years generally This is much larger but over the past four years you've had a series of sales from the reserves that have put even more oil on the market U.S. production has gone up a lot And U.S. politicians don't feel the need to have this emergency supply on hand So Congress's authorized sales basically just so they can raise money to pay for tax cuts and other spending So this is just another step forward in the U.S. government getting a little bit more aggressive in how they use the countries to strategic oil reserve The final 20 seconds here is there another way maybe the president or someone in government can try to bring down my gas prices Well like I said there are options are limited They have been pushing for an FTC investigation into why the oil industry isn't lowering gas prices Gasoline prices as crude prices have come down a little bit in recent weeks So that's still pending Administration officials have talked about different export bands or curtailing exports of different kinds But there's a lot of questions There's a big question about whether that would be effective and other potentially damaging consequences that might bring It's unclear if that's a serious consideration in The White House Or if there's anything left for them to seriously consider All righty thanks so much for explaining it to us We appreciate it Thank you Timothy puko reports on energy policy for The Wall Street Journal Check sports next If you don't know PPC if you don't know SEO If you don't know OTT If you don't know targeted display social media management website development You don't have to All you need to know is 2060 digital We can help you with the digital marketing your business needs but maybe doesn't understand Or have time to execute 2060 digital is a Google premier partner That may not mean a lot to you but when you consider that.
The Charlie Kirk Show
"strategic petroleum reserve" Discussed on The Charlie Kirk Show
"And loss are lost our capacity to be able to mine cobalt, which by the way is incredibly important. For all the green energy nonsense the other side wants to do. The times reported that Biden still controls a 10% of bhr through Scandinavia LLC. How this is not treason, I don't know. He won't be obviously won't be tried for it. Now we're too busy indicting moms that show up to school board meetings. They're the real threats, right? The article in The New York Times goes into great detail about the demand for clean energy minerals and metals. So let me get this straight. So Joe Biden says climate change is the biggest threat ever. We need more cobalt and copper. He sells the cobalt and copper to the Chinese, so then we have to go pay more for cobalt and copper from the Chinese to go fulfill his green energy demands that he himself said is a problem. The Congo has a massive depository of what is necessary for electric vehicles and battery storage. And by the way, anytime any environmentalist brings up and green energy or electrical vehicles ask them, what are you going to do with the battery once you're done with the car? These batteries are environmentally hazardous. Someone's got to have a plan to get rid of all these batteries. But who was the broker, the facilitator of all of this, Hunter Biden? Hunter Biden was working with Chinese officials to directly threaten United States security. Says in The New York Times that are competitive edge when it comes to clean energy is lost, the very same people who said that we need to go invest in clean energy. We would call it corrupt, but we know what it is. The Biden family has no interest in the actual success, flourishing or prosperity of the United States of America. They care about power and enrichment. Hunter Biden will not be held accountable for helping broker the purchase of a rich cobalt mine of $3.8 billion. It's not going to happen. We know that. Same reason that Hunter Biden's not going to go to jail for tax issues or Hillary Clinton's not going to go to jail. No, the ruling class remains untouchable. But the reason we're talking about it is hopefully that we can reinforce the truthful narrative that Hunter Biden and the DOJ and all of these interests working together they're declaring war on moms and dads at school board meetings for a very specific reason. They needed a distraction. They need to try to demoralize the American people from activism and from getting the message out. Hunter Biden firm helped Chinese company purchase a $3.8 billion cobalt mine. But Kyle rittenhouse he's the real problem. Look, everyone out there has been asking me Charlie, how.
The Charlie Kirk Show
"strategic petroleum reserve" Discussed on The Charlie Kirk Show
"Daryl Brooks, who's a pedophile, and now a mass murdering black terrorist. $1000. And the way CNN covers it, 5 people are dead and 40 injured after an SUV, plowed into a Wisconsin parade. Motive unknown. We know this guy's obviously a psychopath. You could see that in his social media posts and in his own language. And right now there are dozens of people in the hospital still fighting for their lives. And yet Kyle rittenhouse received. The full force of the prosecution of the federal government, and the federal government of the state government, and then potentially the federal government, by the way, we're going to get into that. Daryl Brooks will be a rounding error in history. Daryl Brooks ran over the Milwaukee dancing grannies. Milwaukee dancing Gran are devastated by the tragedy with the loss of life and injuries. Our group is doing that they love performing in front of crowds in a parade putting on smiles of faces of all ages. While performing the dancy grannies enjoyed hearing the crowd's cheers and applause, would certainly brought the smiles their faces and warm their hearts. Daryl Brooks goes and runs over the dancing grannies and the local color guard and the local high school marching band. And CNN says that an SUV did that. But they're not letting go of Kyle rittenhouse. We're going to go into how Jerry Nadler now wants federal charges. Against Kyle rittenhouse. They will not stop, and they will not stop because Kyle rittenhouse has now become a vindicated example of how the prosecution and the state needs to have villains to confirm their false agenda. When did we decide to stop upholding free speech as a basic right? What's playing out right now at so many big tech companies and social media sites set a very dangerous precedent. Look, it doesn't matter what your politics are, or who you voted for. Everyone should have the right to express themselves freely. Sadly, the big tech oligarchs and their monopoly has instead opted for silencing people and censorship to fight back against big tech's control the Internet, I use ExpressVPN. Ever wondered how free to access tech giants make all their money? Well, by tracking your searches, they sell you..
The Charlie Kirk Show
"strategic petroleum reserve" Discussed on The Charlie Kirk Show
"They will move on to their next thing. Front page of CNN dot com suspect and parade may have been fleeing another scene. It says here on the front page of CNN dot com. 5 people are dead and more than 40 are injured after an SUV, plowed into a Wisconsin parade. Officials believe the suspect was escaping another incident. Oh, that makes it perfectly fine. No pictures, no information around the person who did this, of course not. The Milwaukee county district attorney's office issued two counts of second degree recklessly endangering safety and felon in possession of firearm in 2020. Cash bail was originally sent at $10,000 and then reduced to 7500. Unlike some other states Wisconsin requires a payment for the full amount of bail in any criminal case. In February 2021, the state was prepared to proceed with a scheduled jury trial, mister Brooks was still in custody on this matter, and previously made a demand for a speedy jury trial. Because in other jury trials still in progress for the same court, the defendant's demand for a speedy trial could not be met. The case was adjourned and bail was reduced to $500. While the defendant posted this on February 2021, on November 5th, the Milwaukee county district attorney's office issued against mister Brooks, a charge a second degree reckless endangering safety. His bail, $1000 cash bail. The state's bail recommendation in this case was inappropriately low in light of the nature of the recent charges and pending charges against mister Brooks. The bail recommendation in this case is not consistent with the approach of the Milwaukee county district attorneys. Oh, well, blood's on your hands, Milwaukee county. It's that simple. He post bail gets a car and runs over children. The office is currently conducting an internal review of the decision. To make the recent bail recommendation of this matter in order to determine the appropriate next steps, yeah, right? What was Kyle rittenhouse's bail? $2 million. Car written house who acted in self defense had opposed the $2 million bail..
WNYC 93.9 FM
"strategic petroleum reserve" Discussed on WNYC 93.9 FM
"Income planning build a plan for income that lasts fidelity brokerage services LLC member NYSE SIPC I'm David brunch the Biden administration announced this morning that it's going to release tens of millions of barrels of crude oil from the strategic petroleum reserve It's a bid to push down soaring gas prices and in a first the U.S. is getting a host of other countries to also tap into their emergency pools of oil Marketplace's Nancy Marshall guns are here with the latest The White House says the energy department will draw down 50 million barrels of oil from the strategic petroleum reserve 32 million barrels will be released in a kind of swap where oil companies take crude but are required to return it with interest The Biden administration says this drawdown will lower oil prices by correcting a mismatch between the supply of crude and demand which is increasing as the economy recovers from the pandemic And the U.S. and other countries turn this into a kind of team effort Yeah President Biden convinced other big oil consumers to do the same thing So countries like China India Japan and South Korea will also release oil The president has pressured OPEC to boost its production to increase supply and drive down prices OPEC refused So the administration turned to the stockpile and The White House says the president quote stands ready to take additional action if needed It also insists it still committed to its clean energy goals Crude traded in New York is now down three tenths of a percent about 76 50 a barrel when might this drift into lower prices at the pump We're not going to see an effect right away The energy department says it takes 13 days from a president's decision to tap into the reserve for the oil to actually enter the U.S. market All right Nancy thank you Let's do the numbers The Dow future is up slightly three points The S&P future is pretty close to flat The NASDAQ future is down to.