Page 43 - Supply Problem News Today : Breaking News, Live Updates & Top Stories | Vimarsana

>> bill: as you may know gas prices going through the roof. 32 cents. second largest jump in the nation's history. white house chief of staff william daily was asked about it yesterday. >> we're looking at the options. the issue of the reserves is one we're considering. it is something that only is done and has been done in very rare occasions there is a bunch of factors that have to be looked at. and it is just not the price. >> bill: with us erica payne and the anchor of varney and company stuart varney. i'm not an economist or an oil guy or anything like that. what good does it do tapping i...

>> bill: as you may know gas prices going through the roof. 32 cents. second largest jump in the nation's history. white house chief of staff william daily was asked about it yesterday. >> we're looking at the options. the issue of the reserves is one we're considering. it is something that only is done and has been done in very rare occasions there is a bunch of factors that have to be looked at. and it is just not the price. >> bill: with us erica payne and the anchor of varney and company stuart varney. i'm not an economist or an oil guy or anything like that. what good does it do tapping i...

>> bill: as you may know gas prices going through the roof. 32 cents. second largest jump in the nation's history. white house chief of staff william daily was asked about it yesterday. >> we're looking at the options. the issue of the reserves is one we're considering. it is something that only is done and has been done in very rare occasions there is a bunch of factors that have to be looked at. and it is just not the price. >> bill: with us erica payne and the anchor of varney and company stuart varney. i'm not an economist or an oil guy or anything like that. what good does it do tapping i...

Players. >> we're the evil in washington, right, to wall street. >> reporter: but you're 100% right that a lot of what's happening in the oil markets is based on speculation. let's face it, there is not a supply problem here. supply has actually increased as this has been happening and oil prices have continued to push higher anyway. yesterday we saw oil prices sitting at two and a half year highs. this morning we're seeing some movement lower and that's been decent news for the futures at least so far. right now anything can still happen because the equity futures are still looking slightly h...

Oil to make up for it. you make a very good point, ali, when you do the breakdown. every little drop of of oil that comes out of the ground we're using somewhere in the world. a quarter of that here in this country. there are important conversations about conservation, about dependence on foreign oil, all the things there. but the strategic petroleum reserve just talking about it might be to try to tap the brake on oil prices a bit. but would it really work and would they really do it? that's not so clear. >> it's important to get to the bottom of this, that we don't have a lot of oil shortage...