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Cavuto’s All-Star panel on the factors leading to the increase in gas prices and what is needed to bring the prices down.
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So maybe the bigger issue as well as just this basic problem of supply and demand are all stars Jonathan Hoenig was -- McDonald's marketing -- -- -- -- they would then as its demand it's actually half of what you were just alluding to because demand is not I mean we can't argue with that and the economy is expanding again or adding jobs and so.
More people are driving -- -- you go out of the road say they're crowded you try to part the parking garage they're crowded so listen demand goes up in price.
The follow Jonathan.
Well demand and supplier to sided coin -- and fortunately I think demand is Scott pointed out is up.
We don't have the supply and partially to counter that with a meal a lot of factors influence prices but it hit the day it comes down to supply and demand and -- There's a lot of demand in that demands coming from as you pointed out in your earlier segment a weaker and weaker dollar I think is slow creeping inflation.
Is the big issue here it's not just demand for oil per say -- demand for all commodities because people know that dollars in the Crocker are worth less and less as time goes.
Then the -- -- the data -- has to -- this Chuck Schumer letter to Hillary Clinton as the word says get and demand the saudis to open up to an increase production.
Because I think there and it's sort of -- hides the real issues here and there are a variety of factors.
-- do you believe the saudis are producing enough for now and then there's probably -- and admit that they can produce more.
But.
You've got -- backwards.
-- I mean -- yeah I can look at the issue is a spare cushion so razor thin it's like.
Anywhere where Barclays says -- that one point seven million barrels a day.
Up to 2.2 million barrels a day so it's it's a combination of things.
And it sounds are pumping it you know their highest capacity in thirty years -- you need to drug debt all the supplies that you can get from anywhere.
And to keep the gulf to keep our offshore drilling into protective custody of the US government.
It's such it's such a wrong headed move -- place of the keys still for example could displace a third live about a third of what a romp for produces on it.
On a daily basis so this idea also now coming other Democrats to hit up the strategic petroleum reserve draw baby draw instead of drill baby drill.
I mean that's the way to go -- that's not an energy policy for this country.
But it is what it is and -- I think Scott Martin that -- seems to date deadlocked in a coherent energy policy and we're we're talking about promoting Green technologies and the rest.
Not my idea was just about the allowances and credits from the oil industry under the Obama plan -- the Green industry would would mixed success to put it -- But but even allowing for that without a coherent plan -- I I don't see anything getting in the way -- sharply higher energy.
Arrests.
And no I need to do -- on -- -- push from the administration is just made me below because look at if you're.
Actually a trader out there right like you're going down to the floor like we're Jeff Flock was today and you're putting your money on oil -- you putting it up.
You're betting that it's gonna go up because like you said there's no cohesive energy policy here so what it happens.
Traders bet that it's gonna go up it does more buyers come -- and sellers look you got higher prices.
You know apply a higher prices though -- and again back to the started -- -- -- who want to hear but.
When wants he didn't just skips out on not selling some resolve and backbone of these budgetary matters.
The dollar gets it all the more oil price to dollars -- -- to -- its -- -- mark.
So I guess what I fear is that if we don't get -- -- together on non energy related cases.
Leaving aside decent but just resolving our budgetary -- -- where compounding -- -- -- we're we're likely triggering.
Sharply high energy.
-- Well and millions sharply higher prices I think that's the real danger inflation -- sharply higher prices.
Across the board and you hear it's a kitchen table issue now it's in my opinion not a -- issue from folks literally just trying to put not only guess that car.
But food on the table we've talked about it for months now whether it's red whether it's eggs whether it's milk the consumer is getting hit hard right now they value their dollar keeps going further and further and lower.
And I'm of the mind that the deficit and the administration's policies are big factor in that process -- there'll generated through.
Slip for a bit I guess -- got to see.
