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Wayne Rogers Sounds Off on High Oil Prices

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    Wayne Rogers & Co. chairman Wayne Rogers on what can be done to lower gas prices.

  • Duration 3:47
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Call thank you for that crude all this morning topping 100 dollars a barrel for the first time since may.

Again -- -- mounting tensions in protests throughout the Middle East and then the Federal Reserve ready willing to pump.

Tons of money tens of days the dollars back in this economy.

Wayne Rogers is here to -- and chairman of white -- company joins us now from Los Angeles weighing.

Is this what we have to deal with for not just months but years to come in terms of energy prices.

Well I don't think it's just necessarily it'd be energy prices semi -- you you talked about the fact that Bernanke is -- -- pumping.

Credit money he's pumping money and it did you know that the treasury issues.

Bunch of bonds in the Federal Reserve buys it -- -- -- same thing is spreading money so.

You gonna have inflation so hard assets oil being one all commodities being -- subject -- that a gonna in flight and price because -- they're not subject to this kind of thing in the the same time you've got.

In the Middle East all of this turmoil going on which is a a threat so that traders are obviously gonna bid up the price of -- because they think at any moment there's the threat of the oil markets big being interrupted by this.

But when it doesn't look like in the foreseeable future any thing will happen then to bring the prices back down so is the economy now.

On the ropes are we now endangered -- even though Bernanke I guess I guess I Wear a -- also is.

One of the prices gonna come down and to do -- Bernanke got to have the opposite effect on the economy than you would hope.

Well -- be yes he is gonna have ultimately he has -- all he's doing -- bids you know you're trying to keep the genie in the bottle.

The fact of the matter is for example you could say what could help this problem one of the things could help but is that the administration could allow the Keystone Pipeline to look our.

Why they a blocking it I have no idea.

The unions before they oil business industry is for it almost everybody is -- except the present -- United States I don't get it.

So there are things yes that can relieve the price of oil that we are not doing.

Is it helping -- least that this is not the kind of shocked that we saw back in 2008 where will spike well above.

A hundred dollars a barrel it was about a 135 dollars a barrel at the highs.

It least that oil has remained relatively highs of the American people in the last few years have.

Gotten a chance to learn to live with us.

Well I think that's true but it also hurts everybody though advantage certainly at the lower end of the economy if you -- -- if you're a person left to drive long distance to work.

And you've got -- shell out that much more for your for your pay each day it's it's it's a it's a problem so.

Natural gas is gonna be a substitute that ultimately will have its day its gonna take some time that it will ultimately have it today because we've got an unlimited supply of that would you invest in oil that at this point.

And commodity aren't already invested in oil at this point I'm invested in commodities in to a great extent because I think as I said that inflation is just.

I genie in the bottle -- gonna get out sooner or later and Bernanke and all the politicians of the world can't bribe themselves enough to keep that in.

But it would take you a healthy economy would it not to really trigger that -- and right now this economy is not.

It doesn't help though it does not take a healthy economy to trigger inflation not at all look at the Weimar republic after World War I in Germany that was it.

Not a healthy economy and -- inflation went bizarre.

May actually did have a printing press south of problem you couldn't remove the accommodation the Federal Reserve says that -- can't remain investment you don't buy that.

I don't buy it it'll.

Paying your rent with butter that actually happened why thank you so much just can't just say thank you very happy day -- get -- Wayne Rogers when Rogers and company.

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