BECAUSE OF THE INCREASED DEMAND
THAT WE SAW.
LIZ: THANK YOU VERY MUCH, AS YOU
HEARD PRESIDENT BIDEN NOT ONLY
THROUGH THE GAS TAX HOLIDAY CHALLENGE TO CONGRESS HE’S ALSO
CHALLENGE TO CONGRESS HE’S ALSO
CHALLENGING STATES TO SUSPEND
THE LOCAL GAS TAXES AND SO FAR
FIVE OF THEM HAVERTY SCRAPPED
HER GAS TAX OR HAVE STARTED THE
PROCESS PRE-THEY INCLUDE
MARYLAND, GEORGIA, CONNECTICUT,
NEW YORK AND FLORIDA.
WHAT ABOUT THE BIG OIL DRILLING
STATES.
JOINING THE SLIDE REPUBLICAN
CONGRESSMAN KEVIN HERN OF
OKLAHOMA THE POWERFUL HOUSE WAYS
AND MEANS COMMITTEE.
WELCOME WE HAVE THIS BREAKING
NEWS SENATOR JOHN THUNE
REPUBLICAN SAYING THAT THE
PRESIDENT GAS TAX HOLIDAY IS
DEAD ON ARRIVAL MOMENTS AGO.
WOULD YOU VOTE TO TEMPORARILY
SUSPEND THE FEDERAL ASKED TAX?
WHAT IS YOUR THOUGHT.
>> THINGS FOR HAVING ME.
NO I WOULDN’T, WHAT YOU’RE
SEEING RIGHT NOW YOU DECIDE ON A
LITANY OF EXPERTS THAT DIDN’T
MAKE THE POLICY SAYING IS BAD
POLICY IN A PERSON THAT’S IN
CHARGE OF CONGRESS, SPEAKER
PELOSI IN MARCH SAYING IT WAS AN
ELEMENT OF SHOWBIZ FOR THE
PRESIDENT TO EVEN WANT TO DO
THIS BACK IN MARCH.
ALL THIS GONNA DO AS YOU JUST
ALLUDED TO IS GET A DRIED DEMAND
AND SIGNAL THAT EVERYTHING’S
WOULD GET BETTER AND IT’S NOT.
IT’S THE POLICIES THAT THIS
PRESIDENT PUT IN PLACE THE VERY
FIRST POLICY THAT HE DID WAS
UNRAVELING THE KEYSTONE XL
PIPELINE WITHIN AN HOUR AND
GETTING SWORN IN LAST YEAR.
THE POLICIES THAT HE SIGNALED
OUT ACROSS AMERICA AND AROUND
THE GLOBE THAT ARE PRODUCERS IN
THE UNITED STATES, OUR SECOND
RATE CITIZENS THAT THEY DON’T
WANT THEM TO REALLY PRODUCE.
ONLY THAT GOING TO PRODUCE IS TO
SAVE HIS POLICIES, THERE.
UNDER TERRIBLE AND GIMMICKS TO
MASK WHAT HE SENT TO THE
AMERICAN PEOPLE.
ALL THE WHILE.
LIZ: LET ME JUST SAY, YOU DON’T
THINK RAISING OUTPUT WOULD HELP
THE AMERICAN PEOPLE IS OIL
COPIES DID THAT?
>> IS VERY TEMPORARY.
IT’S NOT A FIX AND ALL WERE
GOING TO DO AS YOU HEARD THE
EXECUTIVE DIRECTOR OF THE SEA
FRB, THE RESPONSIBLE BUDGET
COMMITTEE A GROUP TALK ABOUT
WHAT WE GET TO DO TO BACKFILL
THIS WERE GONNA HAVE TO GO TO
CHINA WERE TALKING ABOUT BAD
POLICY GOING TO CHINA TO
BACKFILL OUR INFRASTRUCTURE.
WERE TALKING ABOUT OTHER STATE
LEVEL NOW HE’S COACHING STATES
TO SUPPORT HIS BAD POLICIES.
IT’S TERRIBLE AND YOU KNOW IN
BUSINESS WHAT YOU KNOW IS A
CONSISTENCY PREDICTABILITY IS
WHAT BUSINESS PEOPLE WANT AND
WHAT WERE SEEN TIME AND TIME
AGAIN FROM THIS A ADMINISTRATION
IS THAT THIS IS PART OF THE
TRANSITION PLAN, NOT MY WORDS
AND REPUBLICAN WORDS, IS THE
WORDS OF THE ADMINISTRATION.
>> WE FOUND INTERESTING WE CAN
PUT UP AN INTRADAY CHART.
THE STOCK MARKET THE MAJOR
EMBASSIES ALL HIT SESSION HIGHS
AS THE PRESIDENT LAID OUT WHAT
HE WOULD LIKE TO SEE.
THAT SAID THERE IS A SITUATION
HERE WHERE WE LOOK AT DEMAND
VERSUS SUPPLY AND LIFTING THE
GAS TAX WOULD NOT FIX THE SUPPLY
ISSUE.
YOU ARE FROM OKLAHOMA.
OBVIOUSLY AN IMPORTANT OIL STATE
WHY HAVE YOU GUYS NOT ENDED YOUR
TAX AT THE MOMENT?
>> WHAT’S GOING TO STOP THE.
>> I’VE GONE OUT AND NOT TRY TO
POLITICIZE.
WE ARE PRODUCING RIGHT NOW NEAR
CAPACITY WHERE WE WERE PRIOR TO
COVERED BACK IN 2019.
AS YOU HAD DEMAND OUTSTRIP OUR
SUPPLY OPPORTUNITIES ARE
REFINING OPPORTUNITIES IN THE
UNITED STATES WE HAVE A PROBLEM
WITH THE PRESIDENT IS SINCERE
ABOUT AXING GAS PRICES IN
AMERICA HE SHOULD LET OUR FOLKS
SEND THEIR CRUDE OIL TO THE NEW
TO THE PLACES THAT ARE BEEN
DEPENDED UPON RUSSIA INSTEAD OF
GETTING ON AIR FORCE ONE AND
FLYING TO SAUDI ARABIA IN TRYING
TO GET NATIONS LIKE IRAN AND
VENEZUELA TO PROVIDE FOR US.
LIZ: THAT’S NOT A GREAT IDEA,
CERTAINLY.
WHAT WE FIND INTERESTING HERE AS
WE LOOK AT WHAT THE DEMOCRATS
ARE SAYING, YOU POINTED OUT
NANCY PELOSI HAS NOT BEEN ON
BOARD HERE, PRESIDENT OBAMA IN
THE PAST CALLS IT A GIMMICK.
THERE ARE DESPERATE SITUATIONS
RIGHT NOW AND EACH WINDOW OF
OPPORTUNITY IS DIFFERENT
YEAR-TO-YEAR BUT EXPLAIN TO OUR
VIEWERS WHY IT’S NOT JUST
POLITICS TO SAY NO ON THE
REPUBLICAN SIDE BECAUSE
REPUBLICANS ARE THE PARTY THAT
LOVES TO BRING DOWN OR GET RID
OF TAXES AND IN THE PAST ANY
MOVE TO RAISE THE GAS TAX HAS
BEEN FOUGHT BY REPUBLICANS.
WHY IS NOW DIFFERENT.
>> THERE IS ONE THING TO RAISE
TAXES TO CREATE SPENDING
PROGRAMS.
OUR GAS TAXES IN THE UNITED
STATES THE GAS AND DIESEL HAVE
BEEN DESIGNED TO GO TO THE
HIGHWAY TRUST FUND TO SUPPORT
OUR INFRASTRUCTURE THAT’S ALWAYS
BEEN FUNDED FOR DECADES.
WHEN YOU REMOVE THOSE FUNDS THEY
HAVE TO BE BACKFILLED SOME WAY
OR ANOTHER.
WHAT WE SAW LAST YEAR ONE POINT
TO 5 TRILLION-DOLLAR
INFRASTRUCTURE BILL WAS ONLY
$150 BILLION IN REAL
INFRASTRUCTURE READ YOU HAVE TO
GO BORROW THAT MONEY.
OUR DEFICITS ARE RUNNING CRAZY
OVER A TRILLION DOLLARS OF YEAR
THIS PRESIDENT PUT FORTH A
BUDGET THAT DOESN’T BALANCE
EVER.
WERE OUT OF CONTROL SPENDING AND
OUR DEBT AND THIS IS GOOD
EXACERBATE THE PROBLEM THAT WERE
HAVING IN THIS COUNTRY.
WE ONCE WERE A NET EXPORTER
INTEGRATE ENERGY DOMINATION WE
NEED TO RETURN TO WHERE WE WERE
18 MONTHS AGO.
>> WE WANT TO DEAL WITH NUMBERS
THE FEDERAL DEFICIT HAS COME
DOWN BY MORE THAN A TRILLION.
BUT I WANT TO ASK YOU ABOUT JAY
POWELL THE FEDERAL RESERVE CHAIR
SPEAKING TODAY BEFORE THE SENATE
PRETTY WILL SPEAK BEFORE THE
CONGRESS TOMORROW AND HE WAS
VERY FIRM HE’S GOING TO BRING
DOWN INFLATION EVEN IF IT MEANS
TAPING THIS ECONOMY INTO A
RECESSION.
AS A BUSINESSMAN HOW DO YOU VIEW
THAT MOVE TO CONTINUE TO RAISE
RATES BECAUSE IT ALMOST FEELS
LIKE A VERY TOUGH DECISION.
HE GOT A TAMP DOWN INFLATION AND
MAYBE IT MEANS TAMPING DOWN
DEMAND SO MUCH SO THAT WE DO TO
PIN TO A RECESSION.
>> I HAVE MANY CONVERSATIONS
WITH CHAIRMAN POWELL OVER MY
THREE AND HALF YEARS AS A BUDGET
COMMITTEE AND WAYS AND MEANS
PAID THE BIG ISSUE HE SAID IN
THE SENATE BANKING COMMITTEE WAS
THAT INFLATION WAS HAPPENING
PRIOR TO THE UKRAINIAN WAR.
I THINK THAT WAS A BIG HEADLINE.
PRESIDENT BIDEN HAS BEEN BLAMING EVERYTHING ON PRESIDENT PUTIN
EVERYTHING ON PRESIDENT PUTIN
AND WHAT CHAIRMAN POWELL
VALIDATED THIS IS ALL ABOUT
POLICY THIS IS NOT ABOUT THE
WAR, DID THE WAR HELP IT, NO IT
EXACERBATED A LOT OF PROBLEMS,
TO BE A LEADER YOU HAVE TO
RECOGNIZE WHERE YOU WERE AND
WHEN YOU HAVE AN ENERGY POLICY,
SECRETARY THAT WANTS TO COME OUT
-- OIL AND GAS AND THEN BE
SURPRISED BY THE RESULTS THAT
YOU GET IN THIS WHITE HOUSE IS
FULL OF PEOPLE THAT DON’T
UNDERSTAND BUSINESS PRINCIPLES
LIKE SUPPLY AND DEMAND AND WHAT
WERE SEEN RIGHT NOW IS A RESULT
OF THE AMERICA PEOPLE HURTING.
ONE IN FIVE AMERICANS ARE GOING
TO HAVE TO CUT OFF THE ENERGY,
THE LATEST POLL THAT WE SELL
BECAUSE THEY’RE HAVING TO MAKE A
DECISION OF WHETHER PAIN ENERGY
ON THEIR HOME OR ENERGY IN THEIR
CAR.
>> CONGRESSMAN KEVIN HERN.
THANK YOU SO MUCH, I’M JUST
CHECKING OIL PULLING BACK BY
THREE AND A THIRD%.
UP JUST UNDER 1 DOLLAR. WE APPRECIATE YOU COMING ON AND
WE APPRECIATE YOU COMING ON AND
WE ALWAYS TRY TO BE VERY FAIR
AND BALANCED WE DID REACH OUT TO
THE HOUSE WAYS AND MEANS
COMMITTEE FOR A DEMOCRATIC
CONGRESS PERSON TO JOIN US FOR
THEIR PERSPECTIVE.
NONE WERE AVAILABLE AND PERHAPS
THIS NEWS THAT MANY DEMOCRATS DO
NOT LIKE THIS PLAN OF SUSPENDING
THE GAS TAX OF POSSIBLY PART OF