Gas Prices Are About to Surge
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President gets slapped with gasoline reality. Yeah, I know everyone’s gonna get upset about this because again, they don’t like to think very deeply about these things. I’m sorry. you know who you are. You know who you are. No, this is not Trump derangement syndrome. This is life. This is reality, this is the terrain. Oil and gas executives have gone.
To the White House. And they warned that gasoline prices are going to surge. They are, it’s not a matter of if, it’s a matter of when. They are going to surge. This is fuel inventory, something we have been talking about, are falling to critical lows. Industry officials.
Oil and gas say they’re doing everything they can to sound an alarm that prices are about to soar as the commercial and government inventories that have mitigated prices are depleting. The inventory is going away. basically, you know, a lot of people they they have to be careful.
when it comes to what they’re saying, they’re not, they don’t want to get beat up, they don’t want retaliation from the administration. Some of the inventories could be wiped out within weeks. And this is coinciding with summer and people traveling. Bob McNally is the energy advisor in the George W. Bush administration. And say what you want about.
George W. Bush, and I most certainly have my criticisms of George W. Bush and Dick Cheney. But one of the things that they got right, that they really they they got that one right. And I chronicled this. Go read the columns I talked about this. They are the ones. Okay. It’s not the Trump administration. Okay. Wasn’t Obama. That’s for darn sure. Wasn’t Biden.
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Was a Bush administration. If you recall, okay, the early parts of Bush’s first term, this is before 9-11, there was a major controversy that was taking place. Dick Cheney was meeting with oil executives. And of course, you know, media, the left, and we got to sit in at that meeting. We got to make sure that there’s a camera there when Cheney is talking to these oil executives. And basically they
Revolutionize that that’s when the whole fracking thing, that type of technology was put into place. I remember I wrote about it. Terry Moran and others are we don’t know gas at that time. They were really inexpensive. there’s no real reason to do this, but they knew. They knew. So yeah, they were on top of things when it came to where we’re at today. again, this is
Bob McNally, Energy Advisor, Bush administration. I have absolutely no doubt the White House from the president on down is fully aware of the nearly universal alarm among oil companies and analysts about the direction of travel for oil prices this summer.
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Yeah, I they we can brush off all the concerns they want. And the the fact that I know the president has come out and said repeatedly that oil prices will drop like a rock once the war concludes. people within the industry are saying something else. This is from the Washington Post. The war with Iran has snarled the Strait of Ormuz, the waterway that transported about one fifth of the world’s oil and natural gas supplies before the war.
Trump has sought to assure the public that he is close to a deal to reopen the strait, but that has not happened until maybe now.
Maybe not. Again, we’ll we’ll get into that in a bit. senior oil executives who typically avoid making alarming projections in public have been doing exactly that. We’re sounding an alarm on these inventories going to record lows. This is the American Petroleum Institute, Mike Summers. we should be concerned about what prices we’re gonna see over the next few weeks. We have to solve this problem in the Strait of Ormuz. And I can go on and on and on.
Regards all these industry executives saying the exact same thing. Then we’ve got this. This is the latest. And again, I’m like from Dumb and Dumber. So you’re saying there’s a chance.
The draft version of the Iran US Memorandum of Understanding includes a commitment from the United States to lift oil sanctions and a commitment from Iran to reopen the Strait of Hormuz within 30 days. This is Iranian state media. The 14 point document dictates that the final negotiations will not begin until the release of half of Iran’s
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Frozen funds, the suspension of Iran’s oil sanctions, and the lifting of the naval blockade. All American forces would need to withdraw from Iran, and the US and its allies would need to present reconstruction plans for Iran worth at least $300 billion.
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that’s that’s gonna cost us a bit here. idea, I wonder who’s gonna get all those reconstruction contracts. Hmm. Anyway, the president said that we just made a great settlement of the war of Iran. Of course it’s a he, you know, he’s involved. He’s the greatest deal maker the world’s ever seen. There’s nobody ever in the history of the world that makes better deals than this.
This again, Jesse Water’s gonna love it. Five of all it’s gonna be beautiful. We got we got a pony up three hundred billion dollars. We gotta release their funds. Trump said the state of our moves would be reopened as soon as a deal is signed.
That’s that’s you know, yeah, why why should I time stamp this podcast today? I’m in Europe. It’s quarter to twelve, June twelfth. Okay, I’m six hours ahead there, New York time. Okay, so it’s almost six o’clock in the morning. I I don’t know what’s gonna happen in the next five minutes, but this is this is the information we’ve got right now. and
I’m I actually I hope it goes true.
I I I I I hope it goes through. I I don’t want to see I don’t want to see a a global depression. I don’t want to see. I I don’t know where we’re gonna come up with the money. I know who’s most certainly gonna be getting the reconstruction contracts. but just out. Get out. Get out. And maybe I’m not counting on it, maybe just maybe we’ll learn a lesson.
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at at some point in time. Maybe we’ll learn a lesson and and maybe we’ll start focusing home. Maybe we’ll stop listening to Neocons and the Mark Levin’s and the Netanyahu’s and and all of this stuff. And we’ll just you know, really make the United States great again. When when I’m talking great again, I I I’m talking our foreign policy going back to the way it used to be pre World War Two.
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