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That tool. biden could take a more extreme step, he could ban oil ex sports, but experts are saying to me that that could backfire because oil is a globally traded commodity, and gas prices are actually set by world prices. so if you limit u.s. supply, that would drive prices at the pump higher. jim and bianna, presidents don't have magic wasn't to lower gas prices. if they did, they would use them. >> yeah, and it's one of the reasons why the administration had been trying to pressure opec to increase production as well over the past few months. they did do that, but clearly not to the level ...
Release from emergency stockpiles. total size of the release could be 50 million to 60 million barrels and the goal is to cushion the shock to energy market. prices at the pump, $3.62 a gallon nationally, up 9 cents in a week, 24 cents in a month. ceo of chevron said this kind of a move could help in the short-term. emphasis though on short-term because there's a finite amount of barrels in strategic reserves and some context, 60 million barrels, a lot but barely half of what the world consumes every day. gets you to lunchtime. markets are not all that impressed here. u.s. oil prices up 9% as ...
Cthe senate set the vote on the bill to kill oil tax breaks. will that send prices in the pump higher? what do you say? >> why are they demonizing oil companies. do they get pay back over 40 percent back in taxes to the united states of america? do they understand the subsidies have nothing to do with the prices of the day. when are they waking up? we have a supply issue and middle east issue. >> john layfield, you wanted an energy policy and you just got one. >> we decided to demonize the oil companies . raise the taxes and close the loop holes and accounts for 2.4 billion a year . this doesn...