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Ty Young, Wealth Management CEO, on the swing of gas prices up and down, and why investigations have not been called for since prices dropped.have not...
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That's.
What amounted to Saigon says that -- out the administration right now is doing things prices go up and speculators fault.
They go down the president's -- to -- it.
The -- here we made right here wee bit.
No doubt thanks for having me yet I -- me back -- yet gas prices go up we blame the speculators they.
Out in the next couple -- taking credit for that building it doesn't go I think it surprises me in this scenario.
Is the president has been blamed former president.
Bush.
-- in a way it did their hope springs eternal but you know -- I am beginning to wonder though.
If you're arguing its regulators can -- the market stand and there are some or bad deal when you point to studies that say as much on.
Then you've got to say you're gonna be consisted and go after them both ways -- I don't hear that.
No no I don't together I think everybody should understand the speculators speculators go into the market big -- and they sell they make money and they lose money they created an efficient market and create a liquid market.
If anything we should be thanking them for keeping prices down as far as they are without them.
We wouldn't have the big the big a large number of players would only be OPEC in and Saudi Arabia.
And only oil refineries buying so they create professional and efficient market we need them and they -- and that measures as well.
Yeah I would -- to -- going to a lot of other folks in news who are has been always.
Looking for the black helicopter.
And sinister motives that.
These folks speculators make money up or down did you go on the priced out of profit off that are up and -- -- -- that but but.
Now we have this phenomenon sixteen straight down days and no call as yet for investigations.
But you think the next call might be to take.
Credit for this drop that prices may be on just the threat of investigations what would even.
I think that's certainly possible.
But the reality is that as you pointed out gas prices are down sixteen days in a row that's not because of the president calling for investigations that because that's because we have an increased.
Supply OPEC is now pumping more oil than they Pope since 2008 and we're now producing more oil here at home on display this administration's policy so.
The fundamental of supply has changed little bit and that's caused -- -- -- come down.
I'm a little bit so we -- our summer rally or summer price increase a little bit early and because of the increased supplies come down probably levels off.
Into under this summer we should thank you OPEC in India and oil companies you're at home for helping the oil.
Could you imagine a politician -- that other -- to all of a sudden say.
Hey look these same nefarious forces that brought those prices -- doing so on the downside.
How long without politician's career -- artisan.
It is what it is -- -- thank you very much.
But thanks --
