Gas prices about to jump?

December 09, 2015

Editor

The price per barrel of oil went up slightly on Wednesday.

Glenn's radio co-hosts, Pat Gray and Stu Burguiere, commented on the implications during Glenn's radio program, as Glenn continued his travels throughout the Middle East and Europe.

Prices went up a bit from about $40 per barrel --- the lowest price since 2009.

"These extreme prices in oil are not necessarily good," Pat said. "I mean, I know $20 a barrel sounds really good because that's half of what it costs right now."

Listen to the full segment or read the transcript below.

Below is a rush transcript of this segment, it might contain errors.

PAT: The price per barrel of oil went up a little bit.

STU: Yeah, it was very low. I think it was the lowest since 2009 just the other day.

PAT: Right around 40 bucks a barrel.

STU: And it's up a little today because now the stockpiles -- they expected an increase of I think two or 3 million barrels, and they got a decrease of 2 million barrels. Something like that. So it's kind of shocking, I guess, to the market. But how it relates to actual -- your life, you know, gas prices have obviously been pretty low recently. And there's so much disagreement on what's going to happen next with oil prices in that there are a lot of people saying it could go down as low as $20 a barrel which is basically half price of what you're paying now. And then there are several experts, one of which I saw specifically mentioned, within the next two years, they expect oil to hit $150 a barrel. Now, I don't know if that means, that you just tune it out and don't care because -- the predictions are so all over the board. But think about what this means for the Middle East. We talk about the Middle East all the time and ISIS and how these things develop.

Saudi Arabia is expected to run a 20 percent deficit for their budget this year.

PAT: Really?

STU: 20 percent. That's a lot of money to be in deficit.

PAT: Yeah.

STU: They are even projecting their first deficit. They don't say it's as big. But they're projecting a deficit as well. They're forced now to borrow money. They can't balance their budget. Venezuela, we talked about yesterday, is in serious trouble because they don't -- their production has been dropping for a long time. They don't make -- you know, they subsidize the oil prices, anyway, gas prices in their own country. A lot of that gets sold in the black market to Columbia. It's a bizarre situation. But they're falling apart. A lot of these countries that were already unstable are really getting beaten up by this. And you can argue in some ways it's a good thing. I don't want Russia to necessarily have a lot of money.

PAT: No.

STU: But instability shakes into a lot of bad things.

PAT: Yeah, and these extreme prices in oil are not necessarily good. I mean, I know $20 a barrel sounds really good because that's half of what it costs right now. And so then you think, well, okay, if that translates at the pump, which it doesn't always do, but if it did, that's another 50 percent reduction in the cost at the gas pump, which would be tremendous. It's like $1.75 a gallon here in Texas right now, at least in the Dallas metroplex.

STU: Can you imagine spending under a dollar for gas again?

PAT: I can't imagine it.

STU: You can't imagine it. There are some people that are saying it's possible.

PAT: I can't imagine it. And I can't imagine American oil companies being able to function in that way. I mean, not for very long. A lot of them are going out of business or laying off people, and that's not good for the economy. Conversely though, 150 a gallon would be horrific too. I mean, that's just catastrophic for the economy and for people. So I kind of want somewhere in between.

STU: Look at you.

PAT: I know.

STU: You're just --

PAT: I know. Mr. Let's Have Something, You Know, Moderate Happen Here.

STU: You are a moderate. That's Pat Gray. When I think of Pat Gray, I think moderate.

(laughter)

You just --

PAT: Yeah. I scream moderation.

STU: I never know how you feel about things.

PAT: I know. Because I'm too, well, moderate.

STU: It's too hot, too cold, just right.

PAT: Just right.

STU: Just right for Pat Gray.

PAT: Right.

STU: But I don't know. It's going to be interesting to see what happens with it because that used to be the thing that drove every election result. What are our gas prices right now? That used to be the only thing they talked about in the media, what gas prices were. Well, they got really high with Obama, and they stopped that. And they haven't really gone back to it now.

PAT: Well, not until there's a Republican in office, then they'll go back to it.

STU: Yeah, because if it does hit $150 a barrel in 2017, guess who will get blamed for it if there's a Republican president?

PAT: The Republican. The Republican president.

STU: Oh, yeah. Uh-huh.

PAT: Ted Cruz. He'll be blamed.

STU: But he hasn't actually won the nomination yet or the election.

PAT: But he's going to. But that will happen. That's a foregone conclusion.

STU: It is?

PAT: Yeah.

Featured Image: Customers get gasoline at a Chevron station on October 30, 2015 in Corte Madera, California. (Photo by Justin Sullivan/Getty Images)

The case for mass deportation

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Unchecked illegal immigration into America may be the most dangerous issue our country faces today, and with every day it goes unsolved, the risk of a terrorist attack of 9/11 proportions only increases.

Despite the risk, we can't even touch the subject without the Left and the mainstream media having a meltdown. Even suggesting that the tide of undocumented immigrants may pose some sort of national problem will quickly get you labeled as a racist, stumping intelligent conversation before it can even begin. But as any right-minded Conservative will tell you, calls to close the border and deport the people who stole into our country have nothing to do with race.

In his most recent TV special, Glenn described in detail what sorts of dangers we have let into our countries, with facts and figures that prove that if we don't act soon we will be in deep trouble. Glenn made it clear: we need to conduct a mass deportation or risk being torn apart from within. Here are three reasons that make the case for mass deportations:

Islamic terror cells are forming in South America.

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Congressional testimony from the Committee on Homeland Security in 2011 revealed that Hugo Chavez held a "Secret Summit" involving the Supreme Leader of Hamas, the Chief of Operations for Hezbollah, and the Secretary General of Palestinian Islamic Jihad in Caracas, Venezuela. It is clear that ever since (and possibly before) there has been a Radical Islamic Terrorist presence in Venezuela. Right now there is an Iranian beachhead off the Venezuelan coast on Margarita Island, where the Iranian government is running criminal activities and recruiting and training Venezuelan gangs. These gangs have used our border crisis to infiltrate the U.S. The most infamous of these gangs, Tren de Aragua, has been declared a terrorist organization by the State of Texas.

Terrorist-backed gangs are smuggling in weapons and tearing through the country.

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What are these Iranian-trained and backed gangs doing in America? As you can imagine, nothing good. Just this year alone an estimated million rounds of ammunition, 1.2 million gun parts, 3,000 body armor vests, and thousands of pieces of other military paraphernalia have been smuggled across the border. On top of that, they have already taken over an apartment complex in Aurora, Colorado, and are now terrorizing the remaining residents.

It's noteworthy that the gang managed to move into the apartment in the first place because they received subsidies through an NGO that was assisting the Colorado asylum seekers program, using money given to the state by the Biden administration in 2021.

Gangs have attacked military bases.

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It hasn't stopped at apartment complexes either. A leak from the U.S. Army revealed that the gangs have launched probing attacks on military facilities within the U.S. Members have been sighted taking surveillance photos of Lackland Air Force Base, as well as firing multiple shots into the facility. Another military base in Texas, Fort Sam Houston, caught a gang member attempting to gain access to the facility. This coincides with suspicious activity documented within the Permian Basin, the largest oil field in the U.S.

They are smuggling in vast quantities of military equipment, probing and surveying military facilities and key energy locations, and taking over residential areas. What exactly is going on and why isn't the federal government taking it more seriously?

VP debate recap: A Vance victory

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This might have been the most consequential VP debate in recent memory.

For those of you who missed the debate, it was a decisive victory for J.D. Vance and the Trump-Vance team as a whole. Vance presented a calm, collected, and considerate side of the Republican party that compliments Trump and helps to make their platform more palatable. Meanwhile, Tim Walz had a lackluster, though certainly not catastrophic, night. He had a few embarrassing gaffes and came across as overly nervous, but like Vance, kept it civil.

Both VP candidates entered the stage as relative unknowns to most Americans, and by the end, both men had given an accurate representation of their characters. Here is a brief recap just in case you missed the debate:

J.D. Vance looked great

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Vance came out of the gate swinging, with a stellar opening statement that helped set the stage for the rest of the debate. He delivered a concise yet compelling recap of his life, which framed him as everything Walz claims to be: a relatable veteran from humble beginnings who earned his position through hard work and service. He then went on to deliver a clear and palatable defense of Trump's platform and mission while cooly drawing attention to the failures of the Biden-Harris administration.

Overall, J.D. Vance looked incredibly presidential. He presented himself not just as a capable vice president, but as a strong successor to Trump and as a valid replacement if anything should happen to the former president between now and the end of his hypothetical second term. Vance also successfully dispelled the notion that he is "weird" as Walz called him, and if anyone looked strange during the debate, it certainly wasnot Vance.

Tim Walz's gaffes

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While Tim Walz certainly didn't have an awful night, he did not stack up well against Vance. Walz had a major gaffe around halfway through the debate when asked to explain the change in his position on assault weapon bans. Walz then claimed that he had befriended school shooters during his time in office. While that was clearly not the intention of what he was saying, it was embarrassing nonetheless.

Another weak moment was when the moderators asked Walz to explain a claim he had made regarding being in Hong Kong during the infamous Tiananmen Square protest in 1989, which has since been proven false. Walz gave a long-winded, rambling answer about taking students to visit China and how Trump should have joined in on those trips, before being called out by the moderator for dodging the question.

Vance fact-checked the fact-checkers

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One of the conditions of the CBS debate was that the moderators would not fact-check the debaters live, but instead rely on after-the-matter fact-checking. But, CBS couldn't keep to its own rules. While Vance was describing the migrant crisis that has swelled during the Biden-Harris administration, one of the CBS moderators, Margaret Brennan, chimed in with a "fact check." She claimed that the Haitian migrants in Ohio have legal status, to which Vance clapped back by calling Brennan out for breaking the rules of the debate, then proceeded to correct her, explaining that they only had legal status due to overreach by the Biden-Harris administration.

Dockworker strike: Everything you need to know

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At midnight on September 30th, dockworkers across the East Coast went on strike, effectively cutting the country's import and export capabilities in half.

Don't go out and panic buy a pallet of toilet paper and instant ramen just yet. It's going to take some time for the full effects of the strike to be felt and hopefully, the strike will be good and over by then. But there are no guarantees, and this election cycle could get significantly more insane as we draw near to the election. And even if the strike is settled quickly, it shows growing cracks in our infrastructure and industrial capacity that needs to be addressed if America wants to maintain its global dominance.

Here is everything you need to know about the dockworker strike:

What do the dockworkers want?

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As with most strikes, pay is the driving factor behind this situation the country now finds itself in. The longshoremen want more pay, and with rising inflation who can blame them? After all, working the docks is hard and dangerous business, and fair compensation only seems... fair. But when you compare the wage of a dockworker, which is around $100,000 to $200,00 a year to the average income in America of $56,000, suddenly they seem significantly less sympathetic.

How much money are they asking for? For most Americans, a three percent raise is considered high, but the unions are asking up to 15 percent, depending on location. On top of that, they are asking for a 77 percent raise over the next six years. The West Coast dock workers recently made off with a 36 percent raise and were considered lucky. These increases in costs are just going to be transferred to the end consumer, and we'll likely see a jump in prices if these terms are accepted.

The other major ticket item is protection against automation. Autonomous ports are quickly becoming a reality, with major ports in China that are capable of handling vast amounts of cargo being run by a single office, not an army of dock workers. Naturally, the longshoremen are concerned that their jobs are at risk of being replaced by machines that can work harder, longer, for cheaper, and without risk of injury.

How will it affect Americans?

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Don't panic yet!

It is going to take some time for consumers to feel the effects of the strike and it is possible that a resolution could happen at any time.

Week one should be pretty much business as usual. It might be a good idea to stock up on fruit and other perishables, but there is no need to go COVID-lockdown-crazy yet.

Week two is when you'll first start feeling the pinch. Fresh fruits and veggies will become scarce, along with other imported goods like shoes, toys, and TVs. Prices will start to creep up as the shelves will start to look a little sparse. The supply of tools, lumber, and other hardware materials will also begin to dry up.

By week three, the cracks in the system will really start to show. Entire industries will begin to slow down, or even stop. Factory workers will get furloughed and sent home without pay. Stores will have to ration items, prices will be sky-high, and online orders will come to a standstill. At this point, the strike will have escalated into a full-blown crisis, and even if it was resolved immediately, it would still take weeks to restore everything to working order.

At the four-week mark, the situation will have developed into a national security crisis, and as Glenn describes, a poly-crisis. Small business will be closing their doors, entire brands will be out of stock, and everything that remains will be so expensive it is unaffordable. By this point, the holiday season will be drawing near and there will be a rush on any sort of gift or decor items left. At this point, irreparable damage to our economy will have occurred and it will be months if not years before it can be mended.

While that sounds bleak, with the election just around the corner, it seems unlikely that the Biden-Harris administration will let it get that bad. That being said, their administration has not been characterized by good decision-making and reasonable policy, so there are no guarantees.

What can be done?

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The big question is "Why hasn't Biden already done something?"

President Biden, who ran on the image of a blue-collar, union-worker, has been uncharacteristically absent from the issue. Despite his earlier involvement in a train strike, Biden has declared that involvement in union fights is not a presidential issue unless it getsreally bad.

So where's the line? At what point will he step in? He has to understand that an economic crisis right before the election will reflect poorly on Kamala.

Join Glenn TONIGHT for BlazeTV's exclusive VP debate coverage!

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Join Glenntonight for Vice Presidential debate coverage you do not want to miss!

Tonight is the first (and only) Vice Presidential debate, and it will be hosted by CBS News. But don't be reliant on CBS News or any other mainstream media channel for their biased coverage. Join the BlazeTV live stream tonight to get the uncensored truth alongside top-quality commentary from Glenn and the rest of the world-class panel.

Glenn is joined by Megyn Kelly, Liz Wheeler, Allie Beth Stuckey, Steve Deace, Jill Savage, Dave Landau, and more to cover the CBS News Vice Presidential Debate. Blaze Media subscribers gain access to live chat with the fantastic panel of hosts! If you subscribe today by visiting BlazeTV.com/debate you will get $40 off of your annual subscription with code DEBATE. This is the largest discount ever offered, so take advantage NOW!

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