Latest / Wicked Radio with Bill Adams / 9-24: Gas Gouged. Is Big Oil Playing Politics With Us At The Pump?

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9-24: Gas Gouged. Is Big Oil Playing Politics With Us At The Pump? · Wicked Radio with Bill Adams

• 0:04
  Speaker 1: I hate that every single cultural thing we talk about
• 0:06
  Speaker 1: these days revolves around politics, but there's a reason for that.
• 0:09
  Speaker 1: We're six weeks out from the midterms now. So everything,
• 0:12
  Speaker 1: everything is politics. Everything you're going to see here, whatever.
• 0:15
  Speaker 1: Let's get beyond all that and actually find our culprit.
• 0:18
  Speaker 1: You're not going to find anybody in your life that's
• 0:21
  Speaker 1: not complaining about gas prices. No one.
• 0:23
  Speaker 2: No one.
• 0:24
  Speaker 1: You're not going to find anybody at work or at
• 0:26
  Speaker 1: your lunch group or having a beer tonight at your
• 0:28
  Speaker 1: local favorite tavern and somebody says, I think gas prices
• 0:31
  Speaker 1: are okay.
• 0:32
  Speaker 2: No one. No one in the country.
• 0:33
  Speaker 1: So obviously, it's the tip of the spear, as you're
• 0:36
  Speaker 1: about to hear, in the affordability, the A word, right?
• 0:41
  Speaker 2: That's what it all is.
• 0:42
  Speaker 1: When people talk affordability, of course they've got to talk
• 0:44
  Speaker 1: about food prices, restaurant prices, rent, all that stuff. But
• 0:49
  Speaker 1: the number one thing that affects everybody every single day
• 0:51
  Speaker 1: are gas prices. It's never made any sense. I mean,
• 0:56
  Speaker 1: in normal life, you would drive down the street and
• 0:58
  Speaker 1: you'd have one gas station that would be like 50
• 1:00
  Speaker 1: cents higher than the other one you liked. Supply and
• 1:03
  Speaker 1: demand doesn't seem to make any sense. Then if you
• 1:05
  Speaker 1: want to delve into it, which would give you a headache,
• 1:07
  Speaker 1: you look at the price of barrels of oil and
• 1:09
  Speaker 1: they compare that. And when's that going down in futures markets?
• 1:12
  Speaker 1: It's never made any sense and it's never made any
• 1:15
  Speaker 1: less sense than right now. But I think we found
• 1:18
  Speaker 1: our culprit. And the guy that's pointing this out and
• 1:21
  Speaker 1: calling them out by name is Representative Tim Burgey.
• 1:25
  Speaker 2: You've heard me talk about him before a lot for
• 1:27
  Speaker 2: a reason.
• 1:27
  Speaker 1: Tim Burchett, representative for Tennessee, he's flat out calling it
• 1:32
  Speaker 1: price gouging is the reason why we're paying such high
• 1:34
  Speaker 1: gas prices when the barrel of oil price is going down.
• 1:39
  Speaker 1: None of this makes sense, and I think he's on
• 1:41
  Speaker 1: to something. Are we intentionally being gouged at the pump? And, yeah, unfortunately,
• 1:46
  Speaker 1: it all has to do with what's coming up in
• 1:47
  Speaker 1: six weeks.
• 1:48
  Speaker 2: But here's the bigger question. I know I have a
• 1:50
  Speaker 2: lot of questions. Is it going to matter? Is any
• 1:54
  Speaker 2: of this going to matter?
• 1:55
  Speaker 1: Because all people see are high gas prices and who's
• 1:57
  Speaker 1: in current office to blame. But your example on this
• 2:01
  Speaker 1: and why it may matter is California.
• 2:03
  Speaker 2: Anyway, we'll get to it. Why it doesn't make any sense.
• 2:05
  Speaker 2: And are we being gouged? We'll get to it. Thanks
• 2:06
  Speaker 2: for finding me. I appreciate you. We can radio live
• 2:08
  Speaker 2: stream Monday to Friday, 8 a.m.
• 2:10
  Speaker 1: Ish. X and YouTube and Facebook and then the replay
• 2:13
  Speaker 1: on those channels as well. And the audio podcast always
• 2:15
  Speaker 1: uploaded thereafter.
• 2:17
  Speaker 2: All right.
• 2:18
  Speaker 1: Let's get to the man. You've heard me play him
• 2:19
  Speaker 1: before because I'm telling you, you're not. You better pray
• 2:22
  Speaker 1: for Tim Bergen because there are very few politicians who
• 2:26
  Speaker 1: will take on big oil companies and the lobbyists for
• 2:30
  Speaker 1: big oil companies directly by name. Now, keep in mind,
• 2:34
  Speaker 1: this guy is also on the ballot. OK, just keep
• 2:37
  Speaker 1: that in mind here. So he's not afraid to call
• 2:39
  Speaker 1: them out. Besides, I guess, health insurance lobbyists, defense contractors.
• 2:46
  Speaker 1: I don't know anybody else more powerful you can imagine
• 2:49
  Speaker 1: to call out by name. But that's exactly what he's doing.
• 2:51
  Speaker 1: A couple of clips from him. Here's what he says.
• 2:53
  Speaker 2: We want an answer.
• 2:54
  Speaker 1: Why are these gas prices still so high? When we're
• 2:56
  Speaker 1: hearing about oil flowing, we're pumping all kinds of oil.
• 3:00
  Speaker 1: It's not being refined, is what he says.
• 3:02
  Speaker 3: Hey, everybody. Tim Burchett. Affordability is the issue right now.
• 3:06
  Speaker 3: At the tip of that spear, of course, is the
• 3:07
  Speaker 3: price of diesel. Currently, a big oil at the refinery
• 3:10
  Speaker 3: level is $ 110 per barrel. Their margins are, that is,
• 3:15
  Speaker 3: or $ 2. 61 a gallon. Now, typically, though, it's at $ 15
• 3:21
  Speaker 3: per barrel or $ 0. 35 a gallon. So what are they doing?
• 3:26
  Speaker 3: They're allowing this conflict to gouge you all. And that's
• 3:29
  Speaker 3: exactly what they're doing. From $ 2. 61 a gallon to where
• 3:34
  Speaker 3: it used to be at $ 0. 35 a gallon.
• 3:38
  Speaker 2: It's a lot of numbers. I get it.
• 3:39
  Speaker 1: Because you're talking about the price of oil at the pump,
• 3:41
  Speaker 1: this and that. Your favorite gas stations have different prices,
• 3:44
  Speaker 1: this and that. Basically, what he's saying is the big
• 3:46
  Speaker 1: oil companies are gouging you intentionally. through their lobbyists, who
• 3:50
  Speaker 1: he says control both parties. Does that make sense?
• 3:55
  Speaker 2: Of course it does. Of course it does.
• 3:57
  Speaker 1: Well, you can understand why Democrat lobbyists would want to
• 3:59
  Speaker 1: gouge you, right? Again, I hate to say it. It
• 4:01
  Speaker 1: all comes down to the midterms, what's coming up here.
• 4:04
  Speaker 1: Because if this affordability issue is bad, that's bad for
• 4:08
  Speaker 1: the current guys, right?
• 4:10
  Speaker 2: The current people who have both houses of Congress. That's
• 4:13
  Speaker 2: bad for them. But it's also lobbyists, as he said,
• 4:16
  Speaker 2: they're on both sides.
• 4:17
  Speaker 1: So there's Republican lobbyists lobbyists for the oil companies as
• 4:21
  Speaker 1: well playing with this and monkeying around with it.
• 4:23
  Speaker 2: Why would they want to?
• 4:25
  Speaker 1: Well, don't you have people in the Senate on the
• 4:26
  Speaker 1: Republican side that still refuse to pass the Save America Act?
• 4:31
  Speaker 1: Isn't that a valid question? Back to Tim Burchett again.
• 4:33
  Speaker 1: So what's he going to do about it? He went
• 4:35
  Speaker 1: to the House floor and he introduced a bill to, well,
• 4:37
  Speaker 1: let's just have him say it.
• 4:38
  Speaker 2: Get this done.
• 4:39
  Speaker 3: Nearly an 800% increase.
• 4:43
  Speaker 1: Mr.
• 4:43
  Speaker 3: Speaker, an 800% increase they're making on the backs of
• 4:46
  Speaker 3: hardworking Americans, our farmers, our truck drivers, and ultimately us,
• 4:50
  Speaker 3: the consumers, that every day we go to the market
• 4:54
  Speaker 3: and pay more. That is why I'm introducing legislation to
• 4:58
  Speaker 3: implement export control measures on American diesel. Export controls drive
• 5:03
  Speaker 3: down prices while also helping farmers and keeping more money
• 5:06
  Speaker 3: in the pockets of consumers.
• 5:07
  Speaker 1: Which they got done. And that was just a couple
• 5:09
  Speaker 1: of days after he actually, you know, said... flat out
• 5:12
  Speaker 1: now he just says it's flat out price gouging there's
• 5:14
  Speaker 1: no other way to put this and they're they're they're
• 5:15
  Speaker 1: playing around there it's politics at the pump which i
• 5:18
  Speaker 1: put in the title there it's exactly what this is
• 5:20
  Speaker 1: there's your reason for it okay so if we all
• 5:22
  Speaker 1: ask the question why are these prices still so high
• 5:25
  Speaker 1: when it makes no sense you run a business your
• 5:29
  Speaker 1: profits are up uh is a reason for that it
• 5:32
  Speaker 1: you know you would be able to maintain prices not
• 5:35
  Speaker 1: in this industry not when everything else is involved and
• 5:38
  Speaker 1: it's not just supply and demand it never has been
• 5:40
  Speaker 1: with gas and energy. Never has been. These lobbyists in D.C.
• 5:45
  Speaker 1: control the prices here to affect things, how things are
• 5:47
  Speaker 1: going in the country. Because all of us, for the
• 5:49
  Speaker 1: most part, have to drive somewhere. Long distance or short distance.
• 5:53
  Speaker 1: But it also affects everything else you got. Grocery prices,
• 5:55
  Speaker 1: restaurant prices, the fuel prices control everything. So there's your answer.
• 5:59
  Speaker 1: That's why this is happening. It's because of price gouging.
• 6:02
  Speaker 1: Because of lobbyists on both sides. Let's not pick one side,
• 6:05
  Speaker 1: both sides. Alright? So, the You got to think that
• 6:10
  Speaker 1: the White House is aware of this. They've talked about
• 6:12
  Speaker 1: that a word affordability. Of course, they've talked about this.
• 6:14
  Speaker 1: But what's their reasoning for it? And again, ask yourself
• 6:17
  Speaker 1: the question, does any of this matter?
• 6:18
  Speaker 2: All right.
• 6:20
  Speaker 1: Again, keep in mind, this guy has to play the
• 6:22
  Speaker 1: political game of it and he has to justify all
• 6:24
  Speaker 1: this stuff. This guy's name is Chris Wright. He's our
• 6:26
  Speaker 1: energy secretary right now. What does he say? And when
• 6:28
  Speaker 1: you're listening to him, keep in mind what people are thinking.
• 6:32
  Speaker 1: He may be correct on all this stuff, but keep
• 6:35
  Speaker 1: asking yourself the question, but will it matter?
• 6:37
  Speaker 4: Gasoline prices were higher four years ago in the Biden
• 6:41
  Speaker 4: administration with normal life. Now we have a major conflict
• 6:45
  Speaker 4: with Iran that we will win and we will resolve,
• 6:49
  Speaker 4: and that has temporarily pushed them up. Believe me, President
• 6:52
  Speaker 4: Trump does not want the Americans paying any more than
• 6:55
  Speaker 4: necessary for energy prices, but the world cannot live with
• 6:59
  Speaker 4: a nuclear-armed Iran, and diesel prices, gasoline prices, all of
• 7:02
  Speaker 4: them will be coming back down.
• 7:05
  Speaker 1: See, but that sounds like, and he may be right.
• 7:07
  Speaker 1: I mean, I hope he's right, because that's good for
• 7:09
  Speaker 1: all of us. It's good for all Americans.
• 7:10
  Speaker 2: He may be right.
• 7:13
  Speaker 1: But I think we're at a point in time now
• 7:15
  Speaker 1: in our country where we're like, we're so The news
• 7:17
  Speaker 1: cycle moves so fast that we have such like national
• 7:20
  Speaker 1: ADD now where we just move on to a different topic.
• 7:23
  Speaker 2: I don't think people honestly can actually think ahead to
• 7:26
  Speaker 2: what's coming with this.
• 7:28
  Speaker 1: Would it surprise you at all if after the midterms,
• 7:31
  Speaker 1: no matter who wins, who loses, who whatever, if all
• 7:35
  Speaker 1: of a sudden your gas prices went to where they
• 7:37
  Speaker 1: should be, like closer to $ 2 a gallon than $ 3
• 7:41
  Speaker 1: a gallon? Would that shock anybody?
• 7:44
  Speaker 4: No.
• 7:44
  Speaker 1: And that'll be your proof that this is all politics.
• 7:46
  Speaker 1: What's all behind this whole thing? Would it shock you?
• 7:49
  Speaker 4: No.
• 7:49
  Speaker 1: And he said something interesting there. President Trump doesn't want
• 7:51
  Speaker 1: these gas prices to be high. Exactly right. Do you
• 7:54
  Speaker 1: remember about a month ago he threatened the oil companies?
• 7:57
  Speaker 1: He brought the oil company heads into the Oval Office
• 8:00
  Speaker 1: all one by one to kind of like threaten them
• 8:03
  Speaker 1: with investigations.
• 8:06
  Speaker 2: Did it do anything? No, they don't care. You know why?
• 8:08
  Speaker 1: Investigations take time. He said it again. This was just
• 8:11
  Speaker 1: two days ago. We're going to be launching an investigation
• 8:14
  Speaker 1: on them.
• 8:15
  Speaker 2: They don't care. Investigate all you want.
• 8:17
  Speaker 1: It's their lobbyists who are running the game.
• 8:19
  Speaker 5: They're not reducing the prices commensurate with what's happening. Look,
• 8:25
  Speaker 5: we are sending out, think of.
• 8:26
  Speaker 1: It, 19 million barrels came out yesterday. That is a flood.
• 8:34
  Speaker 5: That's like a gusher. It's an oil gusher.
• 8:37
  Speaker 1: It's not an oil supply problem. It's a refinery problem.
• 8:40
  Speaker 1: And these oil companies refuse to do it. This is
• 8:42
  Speaker 1: why it would make you watch. I hardly ever make predictions,
• 8:47
  Speaker 1: but I think this is going to be one. Two
• 8:49
  Speaker 1: days after the midterms are over, finally, thank God, so
• 8:52
  Speaker 1: we don't have to talk about it too much anymore,
• 8:55
  Speaker 1: you will see great prices.
• 8:57
  Speaker 2: At the pump.
• 8:58
  Speaker 1: It's all politics and it's all nonsense because that's all
• 9:01
  Speaker 1: people see. Because they know, the lobbyists who work for
• 9:04
  Speaker 1: these oil companies, they have vested interest in who they're
• 9:07
  Speaker 1: putting their money behind, which politicians, Or as Tim Burchard says,
• 9:11
  Speaker 1: lobbyists on both sides are playing the game and we're
• 9:15
  Speaker 1: the pawns in this whole thing.
• 9:16
  Speaker 2: They know. They know that all people are thinking.
• 9:18
  Speaker 1: About are not the long-term implications of a safer world,
• 9:22
  Speaker 1: like you and I might be thinking, a safer world
• 9:24
  Speaker 1: for my grandkids. You know, my personal opinion is I'll
• 9:27
  Speaker 1: gladly pay a little more at the pump if we
• 9:30
  Speaker 1: can take out Iran's nuclear weapon capabilities. I'll think that far,
• 9:33
  Speaker 1: and you probably do too. I hate to break it
• 9:36
  Speaker 1: to all of us, but that's not most people. Most
• 9:38
  Speaker 1: people literally are only thinking about three hours ahead at
• 9:41
  Speaker 1: lunchtime or dinnertime or how they're going to pay the
• 9:45
  Speaker 1: gas bill, fill up their gas tank this week. That's
• 9:48
  Speaker 1: all they're thinking about. And the politicians know that. So
• 9:51
  Speaker 1: will it matter? I don't think so. All they're going
• 9:54
  Speaker 1: to think about are gas prices bad, must make change.
• 10:00
  Speaker 1: must make change at ballot box. That's all they're thinking.
• 10:03
  Speaker 1: And that explains exactly why what's going.
• 10:05
  Speaker 2: On right now. And you hear this too.
• 10:08
  Speaker 1: You hear it all the time. Well, it can't be any,
• 10:11
  Speaker 1: I've heard this personally, by the way. Well, it can't
• 10:14
  Speaker 1: be any worse than right now. We have to make
• 10:15
  Speaker 1: a change. I'm Here's your answer for people in your
• 10:21
  Speaker 1: life who say that, that they're going to vote. So
• 10:24
  Speaker 1: you don't like the price of gasoline.
• 10:25
  Speaker 2: None of us do. You don't like the affordability issue.
• 10:28
  Speaker 2: None of us do.
• 10:29
  Speaker 1: You don't really understand what's going on in the Middle
• 10:32
  Speaker 1: East and that entire thing because you're just trying to
• 10:34
  Speaker 1: live your daily life. Understandable. Not many people do at all.
• 10:39
  Speaker 1: So you think you're going to go the other way.
• 10:41
  Speaker 1: Here's your answer to people who think that's a better alternative.
• 10:44
  Speaker 2: Here they are. Your answer is called the state of California.
• 10:47
  Speaker 2: All right.
• 10:48
  Speaker 1: Listen to this guy. This is from two days ago.
• 10:50
  Speaker 1: This is a guy running for governor in California, Steve Hilton.
• 10:52
  Speaker 1: He's the English guy who's now an American, whatever, and
• 10:54
  Speaker 1: he's talking about. Look at and listen to the video
• 10:57
  Speaker 1: he just made about gas prices as he's in Texas
• 11:00
  Speaker 1: on the road, comparing that to California. This is the alternative?
• 11:05
  Speaker 1: We know what it would be like to go the
• 11:07
  Speaker 1: different direction. We know what it would be like. Voting
• 11:11
  Speaker 1: for the other guys most likely isn't going to lower
• 11:13
  Speaker 1: prices at all. All you have to do is look
• 11:15
  Speaker 1: at the West Coast.
• 11:16
  Speaker 5: So we're in Texas. We're on the road just filling
• 11:18
  Speaker 5: up with gas. Look at that, $ 3.
• 11:20
  Speaker 3: 59.
• 11:20
  Speaker 5: We was just in LA like two days ago. What
• 11:22
  Speaker 5: was it, $ 8. 59 or something? It's on the video we made.
• 11:25
  Speaker 5: It's just infuriating. So when I say we're going to
• 11:27
  Speaker 5: have $ 3 gas in California, you've got $ 3 gas here.
• 11:31
  Speaker 5: Even with the Iran war, what are they doing? They
• 11:33
  Speaker 5: are crushing working people and small businesses in California with
• 11:36
  Speaker 5: these extortionate gas prices.
• 11:38
  Speaker 2: And that's going to change, right? There's a guy.
• 11:41
  Speaker 1: Running for governor of California, but a Californian on the
• 11:43
  Speaker 1: road in Texas, and he's delighted with $ 3. 59 a gallon.
• 11:48
  Speaker 1: The rest of us would be like, oh my God,
• 11:49
  Speaker 1: this is way too high. Did he say $ 8 a
• 11:52
  Speaker 1: gallon in California? It's like, I think people just aren't
• 11:56
  Speaker 1: aware of how bad it could be. Is it ridiculous now?
• 12:00
  Speaker 3: Yes, it is.
• 12:01
  Speaker 2: Could it be worse? Yes, it could.
• 12:03
  Speaker 1: And I go back to Tim Burchard again, and I'm
• 12:05
  Speaker 1: just going to play this again, his quick little clip
• 12:06
  Speaker 1: here and exactly what he said. And he's not afraid
• 12:08
  Speaker 1: to call it out for exactly what it is. Do
• 12:10
  Speaker 1: you want your answer on why gas prices are so
• 12:12
  Speaker 1: high still with the availability and the creation and the
• 12:18
  Speaker 1: exporting of more oil than has ever happened? It's because
• 12:22
  Speaker 1: of this, and he says it right here again, if
• 12:24
  Speaker 1: you missed it in the beginning.
• 12:25
  Speaker 3: Hey, everybody, Tim Burchett. Affordability is the issue right now.
• 12:28
  Speaker 3: At the tip of that spear, of course, is the
• 12:30
  Speaker 3: price of diesel. Currently, a big oil at the refinery
• 12:33
  Speaker 3: level is $ 110 per barrel. Their margins are, that is.
• 12:39
  Speaker 3: or $ 2. 61 a gallon. Now, typically, though, it's at $ 15
• 12:44
  Speaker 3: per barrel or $ 0. 35 a gallon. So what are they doing?
• 12:49
  Speaker 3: They're allowing this conflict to gouge you all. And that's
• 12:53
  Speaker 3: all it is.
• 12:54
  Speaker 2: So there's your answer. We don't know that, okay? Then
• 12:56
  Speaker 2: now that we have our answer, is it going to matter? No,
• 12:59
  Speaker 2: but I'll tell you this. It could be a lot worse,
• 13:03
  Speaker 2: believe it or not. But it's all politics, unfortunately.
• 13:06
  Speaker 1: And that's going to be from here on out to
• 13:07
  Speaker 1: the six weeks to go to the midterms. Everything you
• 13:10
  Speaker 1: hear about all these cultural issues, all these social issues,
• 13:13
  Speaker 1: all the things that are making it to your timeline,
• 13:15
  Speaker 1: when you go to the gas pump, all of this
• 13:18
  Speaker 1: crap that we deal with every single day, it's all
• 13:21
  Speaker 1: about what's coming up in six weeks, unfortunately. But at
• 13:24
  Speaker 1: least we know. But that's the question to ask. Is
• 13:27
  Speaker 1: it going to matter that after the midterms these prices
• 13:29
  Speaker 1: are going to go down?
• 13:31
  Speaker 2: I don't think so. Because I don't think enough people
• 13:33
  Speaker 2: are like you. You who can think ahead long-term. I
• 13:36
  Speaker 2: don't think they do. I think people think literally six
• 13:38
  Speaker 2: hours ahead. I think that's about it. So just get
• 13:41
  Speaker 2: prepared for it, I guess.
• 13:42
  Speaker 4: I don't know.
• 13:42
  Speaker 2: But there's your answer.
• 13:44
  Speaker 1: That's why these gas prices are ridiculous.
• 13:46
  Speaker 2: Anyway, we'll see them go down soon. Thanks for hanging
• 13:48
  Speaker 2: out with me. I appreciate you. It's midweek already. Make
• 13:51
  Speaker 2: it a wicked awesome Wednesday.
• 13:52
  Speaker 1: By the way, don't forget about the replay on X
• 13:54
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• 13:56
  Speaker 1: happens 8 a.m.ish.
• 13:58
  Speaker 2: I try to keep it to 8 a.m. It doesn't
• 14:00
  Speaker 2: always happen.
• 14:01
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• 14:03
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• 14:06
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• 14:10
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• 14:11
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• 14:14
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• 14:18
  Speaker 1: digital information.
• 14:19
  Speaker 2: Actually, hang it out with me. Make it a wicked
• 14:21
  Speaker 2: awesome Wednesday. Let's hope these gas prices go soon. In
• 14:23
  Speaker 2: six weeks, they definitely will be. I'll talk to you tomorrow.