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If we had the same price of crude today we would hit $4 airmail long-time. i'm not ruling out a $4 price. >> some places have $5 lot of places. california has $5. 14% of the stations in the country are already at $4. >> what do we attribute the increase in the gas prices to? >> elwork obviously we have a supply problem on the domestic level in the united states. it is convenient during these times to start to blame speculators but in 2008 we were at the runup into the recession as to opposed to now, when we are supposedly in a recovery. the first action that interior secretary salazar took whe...

If we had the same price of crude today we would hit $4 airmail long-time. i'm not ruling out a $4 price. >> some places have $5 lot of places. california has $5. 14% of the stations in the country are already at $4. >> what do we attribute the increase in the gas prices to? >> elwork obviously we have a supply problem on the domestic level in the united states. it is convenient during these times to start to blame speculators but in 2008 we were at the runup into the recession as to opposed to now, when we are supposedly in a recovery. the first action that interior secretary salazar took whe...

Gas prices. this isn't helping our recovery. >> well, if i understood the president, senator, i think what he said was that the oil reserve was for when supplies are disrupted. this is not a supply problem. this is a demand problem. you want him to use that reserve to bring down gas prices, oil pries? >> i'm worried if we don't use the reserve, our economic recovery will stall and fall backwards. we don't need to see unemployment figures going up. secondly, let's not overlook the obvious. we're still too dependent on foreign oil. troubles in northern africa have an impact on the price of gasol...

Dictatorship running the huge shia angry population. that won't get fixed just by handing that out. >> shepard: the rest of the world is worried about the oil and pipeline and those are well protected? >> seven refineries. the pipelines do get attacked but ramco has almost 5,000 private security that guard nothing but the pipelines. i think that will be secure. but it's all in the oil futures. they say what happened if this and this, that drives up our pump. >> shepard: then you have potential for supply problem. >> right. saudi has been pumping out extra oil to take up the slack but if people...

Policy. we'll open up the strategic petroleum reserve for you and make you happy for a few days. it's a nonsense situation, john. >> well, if it's a nonsense situation, help people understand this. because you're making an emphatic case that there is no supply problem here. no refinery in america is waiting for oil that there is plenty of oil on the market. the saudis have promised if there was shortage, they would increase production a little bit. so why then is the market, why is it $3.51 on average, and in some places more than $4 a gallon then, and why has it gone up so sharply in the last...