Also in this playlist...
This transcript is automatically generated
Right now -- want to get back to what you're paying at the pump.
Gas prices are up overnight once again you've heard that many times -- national gallon of regular up to three dollars and 71 cents.
Diesel three dollars and 96 cents now regular unleaded is up 23 cents a gallon since late June.
And also core prices are up 25%.
When in the company from Houston is in if you watch -- any -- -- Look -- oil associates and -- there's a push right now to have a waiver on ethanol requirement to gasoline.
In a report that the Obama administration might actually be thinking about tapping the strategic reserve.
So this is a question for you what's what what lower gas prices the most that we stop subsidizing ethanol making people put -- -- gasoline or.
If we tap this strategic petroleum reserve.
Well probably in neither in the longer term in fact.
Ethanol is selling -- and the logistics and distribution system that even if they waived the renewable fuel standard.
The industry is gonna continue to use that we need to make clean -- Clean gasoline to meet the clean Barack in the metropolitan areas.
And we're just gonna continue with the strategic petroleum reserve release.
I think it's more in response to what we see happening with the sanctions on Iran taking oil off the mark.
It but come on any -- I didn't expect you to give me that answer the things about Iran have been around for how are you kidding me.
Let's be honest about -- is definitely going airport dollars a gallon across the country ahead of an election.
Is about Mormon motivating factor for the White House right now than year one or two year old sanctions on Iran.
Well they're actually tied together because the Iranian sanctions took full effect on July 1 and you've seen crude oil prices.
Go up about fifteen dollars a barrel translating into much higher gas prices.
And it's clear to me that the Obama administration is quite nervous about seeing gasoline prices rise so fast just prior to the election.
While there's absolutely no doubt that they're worried about a but here's a thing.
What about being worried about it after the election you know listen let's say that somehow we can just repeal this ethanol requirement you know the notion of of taking boot.
And using -- for -- -- it's preposterous anyway.
Brazil's outgoing all of this clean energy stuff you're talking about what's what's -- I don't need it.
I know it's so I'm -- worried about that but in our country seems like we've done this wrong way and again for political reasons.
To -- farmers particularly growers and the and the midwest particularly in Iowa.
Well there's -- Out that the ethanol mandate created demand for corn it raise the farm land prices throughout the midwest.
And when I call look at what you -- -- the political economics where the top ten corn producing states.
Are a 196 electoral votes you can see it's clearly wrapped in politics.
They're absolutely right any.
Thanks a lot and that's what we have you on you always have the answers he always have the numbers we appreciate it.
Filter by section