35 Burst results for "Strategic Strategic Reserve Reserve"
Mike Gallagher Podcast
John James Lays a Great Agenda, But Attacks 20 Dissenting Republicans
"Things. John James, he's the congressman elect from Michigan, one of the finest outcomes of the November 2022 election was when John James won, he, of course, is all on board with Kevin McCarthy, very impressive speech yesterday on the floor, and I give him credit. Here's what he sounded like. We will counter the socialist movement of envy and confiscation with a conservative movement of access and opportunity. We will stand on the right side of history again. We will end the growth of government and we will stop 87 thousand new IRS agents from picking through your pocketbooks. We will secure our energy independence. We will ban the sale of petroleum from our strategic reserves to China. We'll establish a bipartisan select committee specifically to keep our eye on the ball in China. We'll address the crisis of the border. That's killing Americans by the day and improve both our safety and our nation and our dignity for those who come here in search of a better life for impressive congressman elect from Michigan and good for him. Laying out the Republican agenda as he should. And then, of course, he talks about the 20. We're still stuck at the starting block. The American people have told us by putting a Republican majority here that they want Republicans to lead and they want a government that works and doesn't embarrass them and we are failing on both missions that must change today. Here we go. I mean, come on. Congressman? Nobody's been embarrassed. You know what's embarrassing? Not acknowledging the popularity of these 20 Republicans.
WLS-AM 890
"strategic reserve" Discussed on WLS-AM 890
"Going to make a massive purchase at that price to refill it. This is how dumb this guy is. Now, if I haven't convinced you yet that Biden's a moron, there's probably not much I can do. But proving to you at a minimum, if you think this guy not a moron, proving to he's a colossal fraud. And so are the Democrats. Queue up for me this flashback clip here. From March 2020, Donald Trump, this is from the file drawer, Donald Trump was right again. Here's cut for. Here's Donald Trump in March of 2020 when oil was $24 a barrel due to the COVID lockdowns, the fact that nobody was driving. Now, Donald Trump had what, at the time, is very smart idea. Because the way the pipelines work, again, I'm not an oil engineer. I did an externship in my MBA program with an oil company for but I don't claim to be an oil engineer, but I do know a little bit about the business. Enough to tell you this. You can't just shut down oil pipelines, folks. It doesn't work that way. You can do significant damage to them. You have to keep oil flowing. You can reduce the flow, but you can't shut it down. You can, but you risk damaging it. So one of the problems we had during COVID and why some of the options prices for oil and derivatives one negative is that everybody basically stopped driving at the same time. Remember the lockdowns? I mean, you were driving on the street. You're the only person out there. We went from X amount of oil consumed to X minus a factor of millions. The oil needed a place to go in the pipelines. You can't just shut it off. Work that way. It's not a light switch. Oil went down to $24 a barrel. That is ridiculously low. For a commodity like oil. So Trump had this idea and he gave this speech while in order to keep it flowing and I've got an idea. Let's fill up the strategic oil reserves super cheap. You may be saying that sounds like Joe Biden's plan later on. Just not super cheap at $70 a barrel. Basically, Donald Trump wanted to do it for about a third less. Let's play Donald Trump first and I'll play for you. I'll read for you the Democrat reaction. In case you're under any illusion, Democrats are not hypocritical clown like frauds. Check this out. Based on the price of oil, I've also instructed the secretary of energy to purchase that are very good price. Large quantities of crude oil for storage in the U.S. strategic reserve. We're going to fill it right up to the top. Saving the American taxpayer billions and
WTOP
"strategic reserve" Discussed on WTOP
"Taken a bit of a roller coaster ride these days, midterm elections are coming up in just three weeks, so President Biden is trying to move those prices down by releasing a lot of government reserve oil, analyst Phil Flynn, part of the 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. On the COVID front, three vaccines in all available against the omicron of area at White House COVID response coordinator, doctor Ashish jha. Because of the rapid viral evolution, if we do not keep up vaccinated last year, I got infected in January, I'll be good. We're going to see a pretty significant wave of infection. CBS News brief, I'm Tom Foden. Speaking of the guest situation, congressional Republicans we hear this week are critical of President Biden's latest effort announced this week to bring down the prices. I believe he'll pee Capitol Hill correspondent Mitchell Miller, Thursday morning. This is a political emergency to the Democrats. That is why he's using it. House minority leader Kevin McCarthy, charging that the president's decision is all about trying to protect Democrats ahead of the midterm elections. And he maintains that lowering the reserve leaves the U.S. at risk in the event of a major natural disaster or national emergency. We would not be prepared. He's already used one third of it. He's put America in jeopardy. McCarthy speaking on CNBC, The White House says the decision reflects the president's pledge to do all he can to bring down gas prices. On Capitol Hill, Mitchell Miller WTO B news. Campaign 2022 continues on WTO P this morning, we're less than three weeks away from the midterm elections and there are increasing signs of an uphill battle now for Democrats. A new poll from The New York Times and see in a college shows that Republicans have a slight edge
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
Dennis Prager Podcasts
Biden Announces Release of 15M Barrels From Oil Reserve
"So just like to bring to your attention, that the president of the United States who is daily does something horrible to hurt this country. It's a very sick estate of affairs. I must say, so the latest is, I want to get the release of, I'll just look this up. Biden, let's see, probably release oil reserves. So you have to understand, this is what this is the result of what the environmentalists, the this cult has done by having us go from net exporter to having to import from Venezuela, a police state, a communist police state. And constantly going into the oil reserves of the United States that's for emergency. Biden to release 15 million barrels. This is just the latest. He just did this similar amount the other day. 15 million barrels of oil from the national strategic reserve. That is for emergencies. So let me ruin this country further. That is how the man wakes up every day because he is a nothing who is a tool of the left and it would be no different if Kamala Harris from president or any other Democrat I could think of. Maybe Joe Manchin or Kristen sinema being president would be different, maybe. 99% of the Democrats would do the exact same thing Joe Biden does, which is why I talk about Joe Biden almost never. I talk about the left and the Democratic Party.
WABE 90.1 FM
"strategic reserve" Discussed on WABE 90.1 FM
"And I'm Lakshmi sang. Former president Donald Trump is scheduled to sit for a deposition today in the defamation case brought by writer E Jean Carroll. NPR's Ilya Merritt's reports a case concerns Carroll's claim that Trump sexually assaulted her in the 1990s. In 2019, while Trump was president, Carol went public with her sex assault claim, Trump shot back that it was a lie, and she was quote, not my type. Carol sued claiming reputational harm. Trump sought to delay being questioned under oath, but the judge ruled against him, writing the defendant should not be permitted to run the clock out. Carol's civil lawsuit is scheduled to go to trial early next year. It's not clear whether the deposition will ever become public, since leaving The White House, Trump has been questioned under oath in at least two other legal proceedings. Ilya Merritt's and Pierre news, New York. More volatility on Wall Street is all three major market indices trade in negative territory and Pierre's David gura has more. Treasury yields are still high. The ten year is trading above 4%, reflecting continuing concern about where the U.S. economy is headed as the Federal Reserve continues to raise interest rates aggressively to fight high inflation. Public companies are reporting earnings for the third quarter Tesla after the closing bell. Netflix shares have been trading higher after it announced an uptick in subscribers, and JetBlue's takeover of spirit airlines has been given the go ahead by spirit shareholders. David gura, and PR news, New York. Human Rights Watch says that Russian forces tortured Ukrainian detainees, and the eastern city of izium, NPR's Frank ordonez reports the group describes, beatings, electric shocks, and waterboarding. The watchdog group identified at least 7 locations in the recently liberated city is soon, including two schools where survivors had soldiers had detained and abused them. Human Rights Watch investigators spoke with over a hundred people in assume who were there during the Russian occupation of the city, 15 of those described being tortured, almost all of them knew a family member or friend who had been tortured. The city served as a regional hub for Russian forces during the 6 month occupation, its liberation helped mark a big shift in the war when a Ukrainian counteroffensive took back thousands of miles of territory. But in assume and other cities, they discovered horrible acts had taken place. Franco ordonez, NPR news, kharkiv, Ukraine. At The White House today, President Biden condemned Russian president Vladimir Putin's declaration of martial law in four regions of Ukraine that Russia illegally annexed recently Biden made the comments after formally announcing his latest action to temper high U.S. gasoline prices that have contributed to inflation, Biden said his administration would release 15 million barrels of oil from the strategic petroleum reserve in December. This is NPR news. Ukrainian religious leaders have resolved to mark this year's Christmas on December 25th in addition to the traditional orthodox state, in January, from Kyiv NPR's Julian haida reports at its latest move to culturally distance Ukraine from Russia. Ukrainians
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,
WTOP
"strategic reserve" Discussed on WTOP
"You got guys who actually have years and have experience and thought we have that accountability factor within everybody and I think that's a beautiful thing. And check out my preview at WTO P dot com. Dave Jackson of util peace sports. The top stories we're following for you this morning on WTO P, new today, Russian president Vladimir Putin declared martial law early today in the four regions of Ukraine that Moscow illegally annexed. Putin did not immediately spell out steps that would be taken under martial law, which he said would become effective tomorrow, draft legislation indicates restrictions on travel and public gatherings may be imposed along with tighter censorship. President Biden today is going to announce the release of 15 million more barrels of oil from the strategic reserve, the action comes as part of the administration's response to recent production cuts by OPEC plus nations, The White House is keeping options open to make additional releases this winter. Stay with WTO for more on these stories and just minutes. British and Austrian scientists have developed a more accurate test for a type of cancer that kills 4000 American women every year. The new test detects the cell changes that immediately proceed cervical cancer with more accuracy than existing procedures fleeting to hopes of ever earlier lifesaving treatment. It can also pick up DNA markers for some other common cancers, and the researchers hope it could someday also be used to predict breast, womb, and ovarian cancer. Vicki Barker, CBS News, London. Coming up in money news. The idea is down, but just 30 points. Another big name in national landing. I'm Jeff claypool. It's 9 48. Traffic
WCPT 820
"strategic reserve" Discussed on WCPT 820
"This is AP news. I'm Rita foley. This morning Russia's president Putin is declaring martial law in parts of Ukraine, the Moscow and next. Putin didn't immediately spell out the measures that will be taken under the martial law, but the Russian legislation envisages it may involve restrictions on travel and public gatherings and tighter censorship, as well as giving broader powers to law enforcement agencies, Putin two has granted emergency powers to the heads of other Russian regions. The moves are the latest sign fighting in Ukraine isn't going Putin's way. I'm Charles De Ledesma. The White House here is Americans complaints about those high gas prices. President Biden is expected to release additional oil from the nation's strategic reserve to spur production and lower gasoline prices. Top administration officials say President Biden will announce the release of another 15 million barrels from the strategic oil reserve as part of the response to the OPEC plus nations making production cuts. White House press secretary karine Jean Pierre responds to people who say Biden's action is an election ploy. Should the president not do everything that he can to lower prices, should he not continue to keep his promise to give American people a little bit of breathing room? Tim McGuire, Washington. A new poll shows that many adults are pessimistic about the state of the U.S. democracy, only 9% think democracy is working extremely or very well. That's according to our new AP New York center poll, 52% say it's not working. Well, in Paris, a woman is under arrest charged with torture, murder, and barbarity in the killing of a 12 year old school girl. The child's body was found inside a plastic box in a Paris courtyard. The Bergen airport in Norway shut down briefly this morning after area residents spotted at least one drone nearby. This is AP news. A big new study shows there are race disparities in fertility medicine. The AP's Julie Walker, with this information. According to a large study of U.S. births published in the journal pediatrics, black white disparities exist in fertility medicine and are reflected in life and death outcomes for babies. It's the broadest look yet at racial gaps for women who use IVF infertility drugs, researchers found higher death rates for infants born to black women who used fertility treatment compared with white women, infant deaths are rare, reasons for poor outcomes unclear. Black women who used fertility treatments may not be getting
WTOP
"strategic reserve" Discussed on WTOP
"A statement from the commander said actual evidence of the case will show no reason for the snyders to sell and they won't. He's already Houston now after their 5 what have the guardians they will play the Astros that I gave one of the ALCS Phillies at two zero one of the Padres last night on the strength of homers from Bryce Harper egg Kyle schwarber to the wizards. They want to be better on defense. A gentleman Tommy shepherd. It all starts containing the ball. And I think Monty Morris, delon Wright bring a lot of that activity to the perimeter for us, Bradley Beal, now especially where he can share the load scoring at the one hand he can come down and be the defender we know he can be. And Bradley Beal is all in. Michael Jordan has the best quarter, you know. I don't fear anybody because I trust the work that I put in. Do you trust the work that you put in your trust your process, you trust coaching the system, you buy into it as a team? Check out my season preview of WTO P dot com wizards and pacers tonight. Dave Johnson WTO sports. The top stories we're following for you this morning on WTO, President Biden is set to announce the release of 15 million barrels of oil from the U.S. strategic preserve today as part of a response to recent production cuts announced by OPEC plus nations. The release is also seen as the Biden administration pulling out all the stops to lower gas prices ahead of the midterm elections. The strategic reserve now contains roughly 400 million barrels of oil. The D.C. council voted to allow non citizen residents the right to vote in local, but not federal elections. The vote by the 13 member council was 12 in favor and one absent council member Vince gray was not present for Tuesday's meeting. An estimated 51,000 residents in the district are non citizens. Mayor Mariel Bowser is expected to sign the measure. Stay with WTO for more on these stories in just minutes. Well, the navy has picked a site for a proposed national museum of the U.S. Navy, officials say they want to build a facility just outside the navy yard in southeast D.C.. To build on that site, the navy would need to buy condemn or a trade other land for the 6 acre parcel, just northwest of the navy yard. In a draft environmental impact statement, the navy says taking over that real estate will also solve security concerns. They are worried about the potential of visual surveillance and acoustic and electronic eavesdropping if a planned private development moves forward on that same parcel. It's 6 18. Traffic
WTOP
"strategic reserve" Discussed on WTOP
"WTO P, the political future of House speaker Nancy Pelosi could be at stake in the midterms, no matter which party wins control of the House, WTO's Mitchell Miller has more now from Capitol Hill. Some moderate Democrats in tough races like Virginia congresswoman Abigail spanberger have called for new leadership within the party. Speaker Pelosi downplays her concern about that. I say just one baby. Just when that's what you have to say to win fine. Pelosi, speaking on MSNBC, says the party won't do anything to undermine those lawmakers efforts to stay in office. Democrats face long odds in trying to retain power in the house, and Pelosi hasn't said what she'll do if the GOP takes over. Looking forward, she says she understands the need for generational change. But in some cases, there's no substitute for experience. On Capitol Hill, Mitchell Miller WTO. Meantime in Florida Republican senator Marco Rubio and democratic challenger Val demings took part in a debate, hosted by WFLA. The two politicians traded barbs on several issues, including inflation, gun violence and immigration. Demings a three term congresswoman and former Orlando police chief spoke out in support of federal laws to protect voting rights. We should not just protect the right for a few people or the privileged few, we should protect voting rights for everyone. And we need a federal law to keep everybody accountable. Rubio wants the federal government to stay out of the election system. The public has to believe that the elections were fair and balanced. And that's what I've always been in favor of. But what they want is a federal takeover of the elections. I do not want a federal takeover of our election system. I oppose it. And they each accuse the other of being an extremist on abortion rights. The Biden administration is set to announce the release of 15 million barrels of oil from the U.S. strategic reserve. The move is in response to recent production cuts announced by OPEC plus nations. The White House has more oil sales are possible this winter in order to bring prices down. The president will speak about gas prices and the draw down from the strategic reserve today that reserve contains roughly 400 million barrels of oil right now its lowest level since 1984. This special master reviewing the documents taken from Donald Trump's Florida home has provided an update to lawyers on both sides of the case. In a status conference held by New York federal judge Raymond deary, Justice Department officials argued that deary's appointment restricts its investigation into whether former president Trump mishandled classified records by mister Trump's lawyers say the probe warrants a special master's appointment. CBS News correspondent Scott McFarland says dearie is working with fewer documents than originally estimated. Revealed today in court, there are about 21,000 pages of record seized. That's far less than was initially estimated about one tenth the amount initially estimated. So the judge has some of 21,000 pages to referee here. A member of the oath keepers has the extremist group was ready to use any means necessary to stop the certification of the 2020 presidential election. Jason Dolan took the stand to testify against oath keepers founder Stewart Rhodes, who's facing charges of seditious conspiracy and other charges stemming from the January 6th attack on the capitol. Dolan was the first oath keeper's member to testify as part of a cooperation deal with prosecutors in hopes of getting a lighter sentence. Meantime roads attorneys suggest they'll try to paint the cooperating oath keeper witnesses as liars who flipped under pressure from the Justice Department. Indianapolis Colts owner Jim Mercedes says there is merit to remove Dan Snyder as owner of the Washington commanders, making him the first NFL owner to publicly state that his controversial counterpart should go. Snyder's status has been widely debated for years amid several scandals and investigations into workplace conduct in Washington, removing Snyder requires 24 votes from other NFL owners, Ursula says removing Snyder has to be given serious consideration. The commanders released a statement saying it is highly inappropriate, but not surprising that mister orse opted to make statements publicly based on falsehoods in the media. It went on to say the snyders will not sell the team. A group of teachers is going toe to toe with the Defense Department. Federal news networks Tom tamman explains. It's 570 teachers in the Department of Defense education activity or dodea. They work in schools in Italy, Spain, turkey, and Bahrain. They're trying to get their first new labor agreement in 28 years. Union president Linda Hogan, in D.C. this week for talks, says it took a letter from members of the House armed services committee to get the agency to speed the yearlong negotiations. Hogan said dodia has been trying to take back teachers class preparation and lunchtimes Tom tenmon, federal news network. After traffic and weather. Running a marathon might be a challenge, but this Sterling woman says not running is even more of a challenge. I'm John dome. 5 36. Here's vint cerf, the vice president and chief Internet evangelist at Google on the discussion maximizing security and flexibility in the orbit of a cloud migration, sponsored by Keras off. It's an easy thing to imagine the cloud is just a bigger hunk of stuff than what I've been using before. And the truth is that it's more than that because it has potentially access to a universe of information that wouldn't otherwise be available in the same sense that the World Wide Web is providing extraordinary amounts of information. So the idea that you're stepping into a computing environment, which is very different from a closed world, is super important. At the same time, because you're stepping into an environment which could be less closed than you're accustomed to. We have other concerns like protection of information. Let Google, Kara soft and their reseller partners help you imagine what your agency is capable of to listen to the entire discussion on federal news network, search Keras off. My brother in law died suddenly, and now my sister and her kids have to sell their home. That's why I told my husband we could not put off getting life insurance any longer. An agent offered
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
AP News Radio
Biden to release 15M barrels from oil reserve, more possible
"President Biden is expected to release additional oil from the nation's strategic reserve to spur production and lower gasoline prices Top administration officials say President Biden will announce the release of another 15 million barrels from the strategic oil reserve as part of the response to the OPEC plus nations making production cuts White House press secretary karine Jean Pierre response to people who say Biden's action is an election ploy Should the president not do everything that he can to lower prices should he not continue to keep his promise to give American people a little bit of breathing room You know that's the promise that he's made Should he not do that The drawdown will complete the release of 180 million barrels authorized by Biden in March Officials say the president is expected to also open the door to undetermined additional releases this winner in an effort to keep prices down Tim McGuire Washington
WNYC 93.9 FM
"strategic reserve" Discussed on WNYC 93.9 FM
"A lid on gasoline prices. This would come from the nation's stockpile, according to the Reuters news agency, this morning oil prices are down slightly. There are about 85 53 a barrel marketplaces nova safa reports. President Biden has said he plans to address gas prices this week, and that they remain too high. Selling another batch of oil from the strategic petroleum reserve would be part of the initiative, Biden announced in March. That's the release of a 180 million barrels over 6 months to bring down global oil prices. Reuters reports that the administration may also sell millions more barrels from another initiative approved by Congress. Polls show the economy and inflation are among the top concerns for voters heading into midterm elections. Early voting has already started in a number of states, and while prices at the pump have come down, they're creeping back up. The national average price for a gallon of regular is up about 20 cents from a month ago, according to triple-A. Selling more oil now also would help the U.S. counter OPEC plus. Earlier this month, the group of oil producing nations, which includes Russia and is led by Saudi Arabia, announced a production cutback of 2 million barrels a day. It's faced criticism from the U.S. for that decision. I'm nova safa, former marketplace. After the awful Friday, for stocks, yesterday the mood got flipped in the Dow closed up 550 points 1.9% with the NASDAQ rising 3.4%, on this Tuesday morning, things are still looking strong with S&P futures up 2.2% quarterly profits have generally been coming in strong, Wall Street powerhouse Goldman Sachs prophets today, lower than the quarter before, but higher than expected the stock is up 3.6% in pre market trading now, the ten year interest rate has just dropped back below 4%. And if you're eligible for the Biden student loan forgiveness program, know that the application process is now open and running, student aid dot gov. Marketplace morning report is supported by Amazon business from small business
The Dan Bongino Show
Blake Masters: Dems Surrendered Our Energy Independence
"It's really shocking how in a purple maybe red tinge state like Arizona a guy like Mark Kelly felt comfortable taking that vote and then really I mean the inflation reduction I forget the name it was just ridiculous The name is not even worth entertaining but it was really a package of subsidies for a bunch of Green New Deal boondoggles when taxpayers have already gotten burned by this under Obama cylindra and her one these other companies that took our money and basically ran with it But their excuses for gas prices Mark Kelly and the Democrats Blake are really at this point just embarrassing I have a clip I'm going to play later on on wasting any time with you but ro Khanna they have every excuse in the book The Russians did it The Saudis did it They're pretty soon it'll be like the Canadians there'd be like that movie Canadian bacon They just every excuse in the book But Blake we're floating on a sea of petrochemicals here in the United States from the Marcellus play to the Permian Basin to Alaska And yet right in front of our face they don't want to develop our own oil Mark Kelly would rather us go kiss the ass of the Saudis and begged them like dogs for their oil This is what you're gonna get if you vote for 6 more years of this guy Oh that's right They completely surrendered our energy independence and they sent the price of gas from $2 to $6 Now they want a metal because it's back down to $5 because Biden is selling out oil from our strategic reserve including to our enemies like China But no what is Dan what do these geniuses think was going to happen when you declare war on oil and gas In a country powered by gas You think that might send the cost of energy up
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 Dinesh D'Souza Podcast
Did Biden Sell Millions of Barrels of Oil to China?
"There's a remarkable report, it's now in multiple sources, but you're not seeing it in the mainstream media. This is why you can't get news anymore. You can't expect to get news if you just got ABC CBS, NBC, New York Times. A lot of stuff going on. You're not going to find out about. So the latest is that although Biden said, oh yeah, I'm going to, I'm going to help people with gas prices at the pump. How am I going to do that? I'm going to release oil from the strategic reserve. What little did we know that 5 million barrels of oil from the strategic reserve were released and sent overseas? So, where'd they go? Some of that oil went to India. Some went to the Netherlands. And very interestingly, and I'll talk a little bit more about this in a minute, a good chunk of it about 1 million barrels went to China. Now, why would Biden do that? Ostensibly, the reason he's doing it is he's trying to help these other countries deal with the sanctions of non buying Russian oil. So he's trying to say to India, listen, you don't need to buy Russian oil. We will sell you oil from the strategic reserve. But the Indians don't care. They're still buying Russian oil. And the Chinese are still buying the Russian oil. The Chinese, in fact, that close in their buddies with Russia. In fact, as you know, Putin lend over to China before all the started basically to get the green light for the invasion of Ukraine. So the manifest stupidity of this is should be obvious for all to see, but it's not just about stupidity because as it turns out, there is a kind of corrupt economic motive. The 1 million barrels from the strategic reserve that went to China went to a Chinese state controlled giant that is connected with Hunter
The Charlie Kirk Show
The Biden Family Is the Best Example of 'Elite Capture'
"Maria bartiromo and Marsha Blackburn exposing the Biden crime family. This is all part of it, by the way. The Biden family is the best example of elite capture that we have. They've been totally captured by the Chinese Communist Party. They're held hostage by the Chinese Communist Party. They do what they want. Play cut 20. Let's take a look at that right now because I have a graphic of what appears to be Joe Biden's China policy. First, we know that the family reportedly accepted $31 million at least from deals in China. That is from hunter's laptop. And senator Ron Johnson's investigation and Peter Schweitzer's reporting fails to demand any COVID origins investigation. We have no evidence that Joe Biden ever brought up the origins of COVID to Xi Jinping in the 5 phone calls that he's had. He's failing to call for an end of the fentanyl trafficking. I have not heard him mention fentanyl wants to fentanyl is made in China, pushed through Mexico into America. And it continues. He has canceled the China initiative. This was an initiative that was investigating the continued Chinese intellectual property theft. He's considering lifting the tariffs on China imports. He sent oil from America's strategic reserve to other countries, including China, and he is pushing electric vehicles solar panels and batteries, aggressively in his climate change agenda and many of those are made in China. And that's just part of it. Good for Maria bartiromo for saying that. And not to mention our elites do business with China, BlackRock is heavily invested in China, our corporate masters are intertwined with China. Bought and paid for by the Chinese Communist Party. And if I was China, I think that last email was super smart, I would try to do everything I possibly can to try to incite division and chaos here domestically.
AP News Radio
Biden says he's considering a gasoline tax holiday
"Americans could be getting some relief at the gas pump President Biden says he's considering a federal holiday on the gasoline tax and could decide within days I hope I have a decision based on data I'm looking for by the end of the week I guess tax holiday would save Americans up to 18 cents a gallon The administration has been looking for ways to spare motorists from higher prices at the pump including releasing oil from the U.S. strategic reserve and increasing ethanol blending for the summer Yet those efforts have yet to have a meaningful impact Petroleum analyst Patrick de Haan tells the AP that nationally gases averaging $4 97 cents a gallon Mike
WTOP
"strategic reserve" Discussed on WTOP
"News Just like uptick in the number of Americans applying for jobless benefits but by historical standards layoffs are still very low The biggest economic worry these days though is inflation especially those record high prices at the pump So will President Biden's release this week of a million barrels of oil per day from the strategic reserve make a difference This morning we turn to Mark Hamrick senior economic analyst for bank fraud dot com for his tag We did see a slight rise in the number of new claims for unemployment benefits this number is basically representative of fresh layoffs but those numbers remain historically low much lower than what we saw even before the pandemic and something else beneath that headline number continuing claims which tells us the number receiving jobless aid through traditional state programs 1.3 million lowest level since December 1969 We saw across the DMV declines in the district and Maryland slight rise in new claims for the state of Virginia Okay Mark now let's focus on the president's move to drive down gas prices Will a million barrels of oil a day from the strategic reserve make a dent in what we're paying Well fingers crossed Hillary there is some skepticism I think on the part of actual oil analysts about this move simply because first of all there's not been an actual interruption in supply in oil coming out of Russia It is going out into the global marketplace but obviously we've seen a rise in crude prices both the gauges of that that we monitor But the good news we are seeing a decline there We know of course in the state of Maryland where I'm speaking from a governor Hogan sort of let it effort to cut the essentially gasoline tax taken by the state I think the worry for the longer term is that as we take this essentially 180 million barrels of oil out of the strategic reserve it's just alone And so at some point that does need to be quote unquote paid back And the concern is that could maybe have an impact on prices down the road But I think The White House is clearly under pressure and that pressure has a political component to it People are quite I think upset about the state of inflation and gasoline prices And so The White House could point to this and say hey look we're doing something That's Mark Hamrick senior economic analyst for bank.
WTOP
"strategic reserve" Discussed on WTOP
"A windfall profits tax on oil companies You get to keep 45 billion but the rest goes back to consumers to put in their pockets White House says that could mean $240 for an individual taxpayer Another proposal would give consumers a direct payment of $100 when the average gas price remains over $4 a gallon But the Senate's top Republican Mitch McConnell accuses Democrats of using gimmicks and calls the release of more oil from the strategic reserve a band aid Our colleagues misunderstand basic economics and basic national security every chance they got On Capitol Hill Mitchell Miller WTO A deal appears to be close in Congress to set aside another $10 billion to fight COVID-19 Senator Mitt Romney the lead Republican bargainer says an agreement has been reached in principle Senate majority leader Chuck Schumer says they're getting close to a final agreement but the bill's language and a cost estimate are still in the works The effort which would finance steps like vaccines treatments and tests comes as President Biden and other Democrats have warned that the government is running out of money to counter the pandemic At the same time the more transmissible omicron variant BA two has been spreading quickly in both the U.S. and abroad Coming up here on WTO after traffic and weather a new development tonight on a sex abuse case involving a former Montgomery county high school teacher and rowing coach It's 9 35 Federal systems helps federal government agencies gain the confidence to control IT and security complexity by collecting and correlating asset data from existing solutions Xonia provides an always up to date inventory uncovers gaps and automates response actions with a Sonia's.
Bloomberg Radio New York
"strategic reserve" Discussed on Bloomberg Radio New York
"To check in on the market so we've got a lot happening in oil too with Bloomberg's dad quiz and a Doug Yeah Jules we'll get to the oil story momentarily but to Brian's point on the ton con survey for the first quarter the large manufacturing index we know is expected to be weak given softening business conditions in Japan and indeed it was the first decline in 7 quarters even so the march reading on that large manufacturer index was about forecast We came in a reading of 14 the street was only looking for a reading of 12 a little bit of weakness in the end here not by much one 21 78 and we've got the nikkei two 25 moving lower in its opening moments down about 9 tenths of 1% right now Again using the function on the Bloomberg terminal to go inside the market there you see consumer discretionary and energy shares leading this decline Juliet mentioned crude oil WTI tumbling 7% in the New York session after The White House announced intentions to release a third of these American strategic petroleum reserves as a way of bringing down gasoline prices Right now in the electronic session we're trading just around a $100 a barrel weaker here by about two tenths of 1% In Seoul the cost beat down 7 tenths of 1% and in Sydney we've got the ASX 200 weaker by about two tenths of 1% Generally speaking during the U.S. session more of that debate as to whether or not the economic outlook will suffer as a result of tighter fed policy Right now if you look at the U.S. yield curve we've got a little bit of slope One basis point now separating the two and the ten with a ten year treasury at 2.35% a two year at two 34 We'll take another look at markets in 15 minutes Brian You know something quite interesting in the tongue con report is that these large manufacturers expect the yen to average one $11 yen to average one 11 this year and gee at the moment we're at one 21 78 So a lot would have to change All right let's get to that big oil story President Biden announcing a multi pronged plan aimed at lowering the price of gasoline it includes releasing a million barrels of crude a day from the U.S. strategic reserve and this would last for 6 months It would begin in May The president is also calling on Congress to impose penalties on oil companies who sit on unused permits to drill for oil on federal land Biden said there are roughly 9000 unused domestic permits To help execute this first part of my plan I'm calling for use it or lose it policy Congress should make companies pay fees on wells on federal leases They haven't used in years And acres of public land are hoarding without production The idea got a powerful backer senator Joe Manchin is a defender of fossil fuels He said leasing fees are too low and he would be open to raising them The release of crude from U.S. strategic reserves would not be accompanied by major changes elsewhere for instance production from OPEC plus countries The cartel said it would stick to its gradual increases going forward Well President Biden also unveiled a plan to enhance domestic production of crucial materials for electric vehicles and clean energy systems the gold to steer the U.S. away from fossil fuel dependence in the long term I miss you in a directive so strengthen our clean energy economy I'm going to use the defense production act to.
AP News Radio
Biden planning to tap oil reserve to control gas prices
"Hi hi Mike Mike Rossi Rossi a a reporting reporting president president Biden Biden prepares prepares to to tap tap the the nation's nation's strategic strategic petroleum petroleum reserve reserve to to cap cap energy energy prices prices with with gas gas and and energy energy prices prices spiking spiking and and his his approval approval ratings ratings going going south south president president Joe Joe Biden Biden is is preparing preparing to to order order the the release release of of up up to to one one million million barrels barrels of of oil oil per per day day from from the the nation's nation's strategic strategic petroleum petroleum reserve reserve a a person person familiar familiar with with the the decision decision who who spoke spoke on on condition condition of of anonymity anonymity said said the the duration duration of of the the release release has has not not been been finalized finalized but but it it could could last last several several months months official official announcement announcement could could come come this this afternoon afternoon when when the the White White House House says says the the president president will will deliver deliver remarks remarks on on lowering lowering gas gas prices prices for for American American families families the the cost cost of of petroleum petroleum and and gasoline gasoline climbed climbed after after Russia Russia invaded invaded Ukraine Ukraine on on Wednesday Wednesday crude crude oil oil traded traded that that nearly nearly one one hundred hundred five five dollars dollars a a barrel barrel far far in in excess excess of of the the roughly roughly sixty sixty dollars dollars a a barrel barrel trading trading price price of of a a year year ago ago according according to to the the department department of of energy energy the the strategic strategic reserve reserve held held more more than than five five hundred hundred sixty sixty eight eight million million barrels barrels of of oil oil as as of of March March twenty twenty fifth fifth Mike Mike rice rice CEO CEO Washington Washington
The Trish Regan Show
Trish Addresses Inflation and Gas Prices
"Like to just quickly get back to this inflation issue because I heard some policy ideals that came out of Joe Biden last night, but none of them fortunately, I hope. Do not have a chance of becoming a reality. You look at what's going on right now in the stock market. And of course, people are trying to digest all of this news. It's coming to us out of Europe, you've got Powell that spoke the Humphrey Hawkins testimony. They're on Capitol Hill and Paul's indicating you know what we're going forward with this. We're going to raise rates this month. I think you've got to under the circumstances with all this massive inflation. There's a chance that maybe he doesn't follow through with as big a rate cut or as many rate hike. Hike, I should say hike. Paul and Joe Biden there were as many rate hikes as anticipated, but we'll see. We'll see how this all shakes out. I do think it's time. I mean, it was time a year ago for Paolo to do something. So this to me is a positive positive element in terms of gas prices though and what their effect on the economy will be. They're going to be significant. I actually went to fill up my gas pump. I drive one of those really offensive gas guzzling SUVs. You're not supposed to have, but I've got one. I've got one, and I filled up the tank and it was over $4 a gallon, and I noticed that. I was talking to the guy and we were chatting about it and he's like, yeah, and this is despite the SPR, but you know, the SBR. That's gonna last you no time at all. I'm sorry, you can release all those strategic reserves, which by the way, Donald Trump bought a really low price. Joe Biden and company were accusing him of just trying to prop up the energy industry at the time. But it was pretty smart to buy it right when it was $10 a gallon, as opposed to a $110 a gallon, which is where we're heading. In fact, I would argue it would probably be one 30 a gallon, possibly one 50 a gown in the relative near future, which could translate into, I don't know, $9, a gallon that the gas pump, it's not inconceivable to see gas prices more than double from where they are right now.
AP News Radio
Stocks fall, oil tops $110 a barrel as Ukraine war rages
"Despite government efforts to contain jitters on fuel supplies we'll prices have surged over the Ukraine crisis will prices have spiked by just about eight dollars a barrel in early electronic trading today on the New York mercantile exchange that's despite the U. S. and other major governments announcing that they'll release supplies from strategic stockpiles to ease the marketing society over Russia's attack on Ukraine benchmark U. S. crude was up to one hundred eleven dollars thirty five cents a barrel it was nearly one hundred thirteen dollars a barrel for London's Brent crude fuel market analyst in Japan says markets dismissed the notion that sixty million barrels of strategic reserves would be consequential he said Russia pumps more than that in just six days I'm Jackie Quinn
AP News Radio
IEA member nations agree to release 60 million barrels of oil
"The United States is releasing thirty million barrels of oil to ensure that supply meets demand following the Russian invasion of Ukraine the U. S. total is half of the sixty million barrels of oil the international energy agency's thirty one member countries are releasing from their strategic reserves the IAEA board made the decision at a meeting of energy ministers Russia is the third largest oil producer it exports five million barrels of crude a day amounting to about twelve percent of global oil trade the invasion is because the cost of oil to store U. S. benchmark crude is now more than one hundred dollars a barrel the highest price since twenty fourteen I'm
WTOP
"strategic reserve" Discussed on WTOP
"Of us hit the road for the holidays The Biden administration announced today that it's releasing 50 million barrels of oil from the nation's strategic reserve to help bring down the cost of rising gas prices The U.S. is joining other countries also releasing reserves to help lower global pressures But what effect if any Will this have on the price you pay at the pump joining us live to break it down Tom close a global head of energy analysis and founder of oil price information service Tom great to have you back here on WTO P what does releasing these reserves accomplish Is it more of a symbolic gesture Will we actually see gas prices dropping Tom do we have you Tom closer Yeah Yes can hear you now Great Can you hear me Okay Yes Okay Sorry I felt like admiral stockdale did But that's okay I don't know if you heard my question but will we actually see gas prices dropping at the pump as a result of this move from the Biden administration I don't know if you could connect it to the move from the Biden administration but we should see gasoline prices drop over the next 60 days nominally not the normal huge downward swings We tend to see as we move into the sort of deep dark days of winter The fact of the matter is is that jaw boning about an SPR sale in the last couple of weeks has probably removed about 6 7 $8 a barrel from the price of crude So it's already happened And we'll see gasoline prices a little bit but here's the problem for the administration Once we get to next spring there's a lot of different factors that are all going to conspire to send prices higher Not the least of which is we lost a couple of refineries after hurricane Ida So this is very very much short term And I wouldn't expect to see ten and 25 cent drops anytime in the next few days I think it'll just bleed lower as it typically does into January which is the lowest demand month of the year Do you think there's a downside to doing this No I don't think there's a downside as a matter of fact I disagree with people who are kind of defending the cartel plus over the OPEC plus cartel I don't think cartels are a good thing I don't think we'd want a cartel on insulin And I don't think we I think we all should find at somewhat of an embrace of response against cartels in general So I think the administration is struggling There's not a lot they can do that they've been dis ingenious at times and asking for more oil when they're talking about decarbonization And that's probably the downside The downside is it's difficult to have a consistent message Now one other downside we're going to see by some states and we're seeing this in Florida they're going to get rid of the steak gasoline tax because they're going to use the money from the build back better Bill and use those funds instead of gasoline taxes they collect That'll be instant gratification but I don't think that will necessarily be good for those states Tom always good to have you Tom closer Global head of energy analysis and founder of.
AP News Radio
Biden administration to release 50 million barrels of oil from strategic reserve
"The U. S. will release fifty million barrels of oil from its strategic petroleum reserve to ease energy costs president Biden on Tuesday ordered the move in coordination with other major energy consuming nations including China India and the UK the move is aimed at global energy markets but also what voters who are coping with higher inflation and rising prices ahead of thanksgiving and winter holiday travel the national average for a gallon of regular is around three dollars and forty cents more than fifty percent higher than the price a year ago according to triple lay Republican lawmakers have hammered the administration for inflation hitting up thirty one year high but in the scramble to reshape much of his economic agenda around the issue that includes has recently passed one trillion dollar infrastructure package I'm
Bloomberg Radio New York
"strategic reserve" Discussed on Bloomberg Radio New York
"Right let's get back to wold the national news over to Nancy Lyon She's in our 99 news room in the nation's capitol heinous Thanks Carol The U.S. is preparing to dip into his strategic oil reserve at the same time as several key allies The announcement could come as soon as tomorrow sources tell Bloomberg news President Biden is considering a release of more than 35 million barrels of oil from the strategic petroleum reserve over time though they say the situation is in flux and plans could change we're told the U.S. could make the move alongside India Japan and South Korea It would be an unprecedented effort at global coordination after OPEC and its allies rebuffed calls from the U.S. to boost its own oil production In Washington I'm Nathan Hager Bloomberg radio Germany's latest surge in COVID-19 infections is worse than anything the country has experienced so far That's the word from Chancellor Angela Merkel who is calling for tighter restrictions Germany's health minister Jens spahn has his own take on the situation Probably by the end of winter Everyone in Germany it might be cynical to say will be either vaccinated cured or dead But that really is the case This is very possible with the extremely infectious delta variant Spahn says he's rushing out an extra 6 million doses of the Pfizer BioNTech vaccine neighboring Austria went into its fourth national lockdown today The Biden administration is expected to announce this afternoon It's investing one and a half $1 billion from the coronavirus relief package to shore up healthcare access and underserved communities and incentivize healthcare workers to work in those communities Global news 24 hours a day on air and on Bloomberg quick take Powered by more than 2700 journalists and analysts and more than a 120 countries Even.
Bloomberg Radio New York
"strategic reserve" Discussed on Bloomberg Radio New York
"COVID-19 has changed how we live and how we feel But now there are vaccines and they are the first step that lets us get back to the things we miss most like spreading the word without spreading concern Girls tripping instead of solo sipping and talking smack with the side of Mac and cheese It's okay to have questions about COVID-19 vaccines Now get the facts Visit get vaccine answers dot org so you can make an informed decision when COVID-19 vaccines are available to you Brought to you by the ad council Your business landscape is ever changing There could be a lot more selling to come Ours is too It's just going to some headlines want to bring to our audience The president saying that this is a pandemic of the unvaccinated We have something else in common The small caps continuing to feel the pressure We seek out the latest business news wherever we are but deep drop in Asian equities overnight Let's bring you some breaking news in terms of earnings Bloomberg radio the Bloomberg business app and Bloomberg radio dot com Bloomberg the world is listening This is balance of power on Bloomberg television and radio I'm David Westin For Bloomberg first word news we go now to Mark crompton David thank you In Germany a warning on the coronavirus From Chancellor Angela Merkel Bloomberg's learned she told officials from her CDU party that the latest surge in infections is worse than anything the country has experienced so far Chancellor Merkel added that hospitals would soon be overwhelmed unless the fourth wave of the virus is broken Prime minister Boris Johnson says nothing in the pandemic data shows the UK needs new Kurds and that he expects people to resume working in their offices rather than stay at home as they have during the pandemic I know that there are some people who think that working habits have been remade by the pandemic and that everyone will be working only on Tuesday and Wednesday and Thursday in an accident that I won't repeat I don't want to be dogmatic about this But I have my doubts And it's not just that young people need to be in the office to learn and to compete and to pick up social capital Prime minister Johnson addressed the virus protocol during a speech with business leaders at the confederation of British industry conference President Biden is preparing to announce a release of oil from the nason strategic petroleum reserve in concert with several other countries as soon as tomorrow Bloomberg exam Marie hordern has learned that the U.S. could release more than 35 million barrels over time as the president tries to lower gas prices The move likely in conjunction with India Japan and South Korea would be an unprecedented effort by major oil consumers to tame prices Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts and over 120 countries I'm Mark crumpton this is Bloomberg David Thank you so much.
Bloomberg Radio New York
"strategic reserve" Discussed on Bloomberg Radio New York
"Good evening to you You're on the east coast or the West Coast if you're out there But I'm curious about how this week is shaping up to you Brian Curtis Because it has been a hell of a volatile week central banks hitting everybody How does this last trading day look for Asia Well you put all this pressure on me Now I have to entertain people But you always do Well I'll tell you It was a very exciting and interesting 24 hours I think you have to say Global bond markets rallied pretty sharply after the Bank of England surprised everyone with his decision to stand pat on rates And that led traders Kathleen to reassess their outlook for monetary policy around the world Not just in the UK not just in the United States but elsewhere Short end yields were hit the hardest And so I think it's fair to say that traders are rethinking the likelihood that central banks will tighten to control inflation here in the short term Some other stories and we'll get back to the numbers in the markets Saudi Arabia and its OPEC plus allies rebuffed U.S. president Joe Biden and his pleas for a large production boost of oil and that leaves the president with the option of Tapping the U.S. strategic reserve At the moment crude oil WTI trading at 79 79 a barrel that's rebounding after about a two and a half percent drop in the U.S. session Uber technologies forecast adjusted income for the fourth quarter that fell short of expectations And also SoftBank had a miss on operating income stocks trading down about one and a quarter percent All right to the numbers the markets are just opened in Taiwan the tax is up 6 tenths of 1% The straits times index up about a third of 1% The nikkei has tracked lower this morning about a half a percent but the ASX 200 up about 6 cents of 1% The yield on the tenure at 1.53% the two year 43 basis points Doug to you All right Brian thanks Well let's begin this hour in Beijing where Chinese president Xi Jinping said that China is open to talks on industrial subsidies as well as state owned enterprises here is she speaking at the opening of the China international import expo China will take an active and open attitude in negotiations on issues including digital economy trade and environment industrial subsidies and state owned enterprises China will safeguard the position of multilateral trade systems as the key channel to formulate international rules The U.S. is concerned about the state controlled structure of China's economy and the U.S. has repeatedly called China's practices both on fair and non market Well let's get to some global news.
Knowledge@Wharton
"strategic reserve" Discussed on Knowledge@Wharton
"Which crowds in pub- private capital and makes the government makes the private economy more productive. There's more private capital that helps you know. People build a create goods and services Now however the the new revenue provisions are bit smaller. And so that we're we're adding up a little bit more government debt and we're going to crowd out a little bit more private capital. Gdp is a little bit lower in this version than it wasn't the last one two things in terms of the revenue. Sources that that. I wanted to bring up with you and get your thoughts on. Get your explanation for one being. I understand that part of this could also be selling oil from the strategic reserve which is obviously something that i don't think i don't know historically if it's normally tied in maybe this is a a new occurrence in the process. How can you. Can you explain that a little bit more so I'm also not familiar with any previous example where this was used to fund it there. Be some I'm just not aware of them. But basically the united states manages or or has a large stockpile of oil for I'm not gonna say emergencies but for national for the national benefit and You know right now. They're going to sell off some fraction of that. The private market Which you know which will bring in a significant revenue especially since oil prices are are pretty reasonable these days but However at some point in the future we and i think most people anticipate that. We'll need just of back that oil to replenish that stockpile so the money that comes from that it's sort of a temporary windfall that someday we'll have to pay back and that sort of why we consider that additional government borrowing or additional government debt. Because we anticipate that the government will need to to re re Re up that stockpile at some point. And i guess the question is wh- those stockpiles. Come from where. Because we've obviously seen the stories in the last few years about how the united states has become a net positive producer of oil here in the us In general the fact that we're able to actually you know export oil to other countries over the last couple of years right so i'm not Tremendously familiar with the exact mechanics of how stockpiles replenished. But basically they do. They do operations on the open market where they buy and sell these reserves to market participants. Okay the other element. That that i was hoping you could explain. Is this category of dynamic scoring. Which accounts for about fifty. Six billion dollars When i read the numbers. I if you can take us through what that is and how that how that obviously impacts the bottom line here absolutely So when when we create new public infrastructure We create additional economic activity so public infrastructure raises people's wages it raises the returns to capital. It makes people more productive and that's reflected in higher gdp and what higher gdp really is. It's additional income. So income is taxed at the federal level and that generates additional revenues. And what they're doing is that they're counting some of those revenues In the funding for this bill. So they do their own analysis. When penn warn budget model does its analysis that's automatically integrated into our analysis so we have a very big large dynamic model and part of it is figuring out how much new tax revenues coming from this policy so that's automatically built into our analysis. We're joined on the line right now by john. Huntley of the pen morton budget model as we are recapping the infrastructure bill which passed in the us senate. It becomes a piece of what we are moving forward with economically in this country so the.
KIRO Radio 97.3 FM
"strategic reserve" Discussed on KIRO Radio 97.3 FM
"Stockpile exist right now. Lauren Jenks, the assistant secretary for environmental public health in our state, says this is really quite a shock. We were told by the federal government that there was a strategic reserve of vaccine and that would be released this week. And we woke up this morning to a Washington Post article suggesting that that is not true. Operation Warp Speed, has released a statement saying the department should continue to regularly receive vaccines in the coming weeks. Gubernatorial candidate Lauren Culp officially drops his lawsuit against the secretary of state centered on voter fraud. Culp tells car radio story Mance and he has no way of knowing how many people illegally got ballots by the Democrats are ensuring that we will never know. Kim Wyman says there were misleading and inaccurate assumptions made in the lawsuit and her office will continue to restore confidence. In Washington's election process. Meanwhile, the State Democratic Party has filed a complaint with the Bar Association against Lauren Cops attorney. The complaint says Stephen Pigeon violated his oath to defend the U. S and the state Constitution's when he alleged that election fraud occurred. Whether increasing clouds overnight lows down around 38 Saturday cloudy high 48 I'm frank sires, breaking news highlights podcasts and more download the Cairo radio at Cairo. Video here for what's next. It's taught Hermann for my doctors actually are the D. C at the yard. The institute I've met people in the welcome area who traveled to see Doctor Yardley from Boise Talk to a woman who travels to see him from Texas. They do this because of the unique approaches the gentle, noninvasive care of Dr Lee Yardley to restore the body's ability to heal itself. Once that happens, my joint pain went away, but so did my Sadik. I didn't even know I had sat, Icka. My headaches are gone because my body can now heal itself. So they're coming from Texas and Boise and its multiple people who do this. You notice the traffic around here? She could drive from where you're at to the er the in suit very quickly and take advantage of the gentle noninvasive care from my doctor. Dr. Lee are the d c just to this call.
John Rothmann
Trump says US will purchase oil for strategic reserve
"Well the need for more corona virus tests and filling up the strategic petroleum reserve were top priorities for president trump when he declared the pandemic a national emergency flanked by health officials and top business leaders major retailers have agreed to allow their parking lots to be corona virus test drive throughs in hot spots the goal is for individuals to be able to drive up and be swapped without having to leave your car the president promises as many as five million tests will be ready within a month for those driving through he's talking about gasoline prices going down because of lower demand as Americans effectively hunker down and don't travel based on the price of oil I've also instructed the secretary of energy to purchase that a very good price large quantities of crude oil for storage in the U. S. strategic reserve Bob Costantini Washington and I'm Evan
This Day in History Class
On This Day in History: The 30 September Movement Assassinated 6 Indonesian Army Generals
"The day was October. First nineteen sixty five a group of Indonesian National Armed Forces members killed fixed high ranking Indonesian army general's in a failed coup Jakarta the army linked the assassinations to the Indonesian Communist Party and for the next several weeks the military terry detained and killed hundreds of thousands of communists alleged communists and their sympathisers the coup led to Indonesia's first President Sukarno being on house arrest in general through Harto being appointed to the presidency President Sukarno had begun promoting the system of guided democracy since he believed parliamentary democracy was ineffective in Indonesia as he began implementing a form socialist populism he attempted to balance relations with the military communist and religious groups he supported the Indonesian Communist Party and the army me which was largely anticommunist though many in the military did support communism land reforms which the communist party pressured Sukarno implement for a major source of tension between the party Muslim religious leaders and the people who controlled the lane as the Indonesian Communist Party party gained more influence seeds of doubt grew among army members who were suspicious of the party's intentions and religious groups who were unsure of the party's Beuys Sukarno became more anti-imperialist and championed economic independence for Indonesia but the economy declined due to a lack of effective policy western nations encouraged anti Communist efforts against the Indonesian Communist Party Sukarno and the left and in nineteen sixty five the Indonesian communist party had three million members and was the third largest communist party in the world but by this this time there were rumors that senior army generals were planning a coup against the cardinal in the early morning hours of October. I The thirtieth September Movement Matt Kidnapped and murdered fix of Indonesia's top military generals the movement members announced over the radio that they had seized power to protect the president event and prohibit a military coup the leader of the movement Lieutenant Colonel Into told listeners that the president was safe that generals had been arrested and that there was about to be a new revolutionary government but the coup was crushed quickly. The army claimed the Communist Party was responsible for the coup attempt at the time there was not much evidence that the party had any involvement in the action against the military but General Harto commander of the Army Strategic Reserve served capitalized on anticommunist intimate and quickly launched propagandistic attack against communists he shut down a communist and leftist publications nations while pro army publications flourished the pro army press circulated stories that the murder generals had been tortured and mutilated through this campaign the army inflamed anticommunist feelings and convinced people that the party was complicit in a huge conspiracy the military he took the opportunity to eliminate the political power of communism in Indonesia which it perceived as a threat the army police and civilian militias imprisoned and and killed a communist and their supporters into Carta Central and East Java and Bali as well as parts of other islands. The death toll has been estimated estimated at at least half a million people. It was later discovered that some leaders in the Indonesian Communist Party did play a role in planning the coup but most the people in the party did not know about it. There are many conspiracy theories around exactly who planned the thirtieth September movement and what its goal was the Communist Party was banned in Indonesia in nineteen sixty five and has been ever since along with any public discussion of the massacre the military dictatorship chip that soon took over lit by Suharto rolled Indonesia until nineteen ninety eight with Western support Indonesia became pro western and the the downfall of communism and Indonesia benefited capitalist countries.