WEBVTT - 10-16-25 America's Truckin' Network

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<v Speaker 1>This is America's Trucking Network with Kevin Gordon. Welcome more.

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<v Speaker 2>Thanks for tuning in on this Thursday morning. I get

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<v Speaker 2>to start off with saying that, well, yesterday, when I

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<v Speaker 2>got off the air, I thought that I had said

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<v Speaker 2>something wrong, so I went back and checked it, and

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<v Speaker 2>actually I was right. So I was wrong about being wrong.

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<v Speaker 2>Which what does that do? It actually makes me right right,

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<v Speaker 2>So a good thing. I didn't have to correct it

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<v Speaker 2>because you know that would lose you would lose faith

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<v Speaker 2>in me, because you know, on this program atn we're

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<v Speaker 2>never wrong.

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<v Speaker 1>So good thing. I didn't misspeak yesterday.

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<v Speaker 2>And I when I thought I was wrong, I was

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<v Speaker 2>actually wrong about being wrong, So I guess it was right.

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<v Speaker 2>You know, last week we talked about this government shut down,

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<v Speaker 2>all these scare tactic tactics that everybody were going to

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<v Speaker 2>be using, and one of the big things that they

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<v Speaker 2>brought up was, well, you know, although social Security checks

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<v Speaker 2>are going to be coming out, that's not going to

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<v Speaker 2>be affected. But whatever the annual cola that cost of

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<v Speaker 2>living index or cost of living allowance is adjusted, is

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<v Speaker 2>going to be pushed back some and it may not

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<v Speaker 2>get there by January. Now, mind you Okay, we're not

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<v Speaker 2>in the age of you know, calculators and pencils and

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<v Speaker 2>people having you do things manually. I made the comment

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<v Speaker 2>at the time that you know, you make a credit

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<v Speaker 2>card payment online and immediately, within seconds, the money's out

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<v Speaker 2>of your account. Certainly they have got some mechanism that

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<v Speaker 2>they can make this adjustment. And they talked about during

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<v Speaker 2>that particular story that normally the adjustment last year came

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<v Speaker 2>out on October the tenth, and that the government shut down,

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<v Speaker 2>it wasn't due to be released until the fifteenth of

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<v Speaker 2>this month, which is today, no yesterday. And so I

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<v Speaker 2>mentioned at the time that even if it's delayed a

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<v Speaker 2>few days, because most of these government shutdowns, the longest

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<v Speaker 2>one was during the first Trump administration with the Democrats

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<v Speaker 2>in charge, and that lasted for thirty five days, We're

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<v Speaker 2>already into what three and a half weeks, so this

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<v Speaker 2>should be ending pretty shortly.

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<v Speaker 1>But I mentioned that, you know, this is just scare tactics.

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<v Speaker 2>And the way the headline was written, and I've talked

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<v Speaker 2>about this before, is that people generally, or there's a

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<v Speaker 2>lot of people that all they do is they look

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<v Speaker 2>at the headlines on their phones. They don't dig into

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<v Speaker 2>the stories the way we do here on America's truck

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<v Speaker 2>A Network, pick apart the stories, dissect them, and come

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<v Speaker 2>up with the nuggets of journalism that's been committed within

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<v Speaker 2>the story buried however, but we've dug them out and

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<v Speaker 2>talked about it, and in some cases we pointed out

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<v Speaker 2>that sometimes the last paragraph of the story pretty much

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<v Speaker 2>negates everything that was said during the regular story. And

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<v Speaker 2>I've brought up several times that the headline doesn't even

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<v Speaker 2>match the story. So when we were digging into this

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<v Speaker 2>details last week talking about this, the headline and as

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<v Speaker 2>I said, most people will just be.

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<v Speaker 1>Looking at the headlines.

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<v Speaker 2>The headline said government shutdown could delay yearly Social Security

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<v Speaker 2>payment announcement. Now, because there's limited space on your phone

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<v Speaker 2>in terms of the sentences, they may have cut that off. Now,

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<v Speaker 2>in some instances, when you look at Google and they

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<v Speaker 2>kind of do an explanation of what the stories are,

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<v Speaker 2>sometimes the last word or two are left off. Government

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<v Speaker 2>shutdown could delay yearly Social Security payment. That might be

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<v Speaker 2>what some people just saw. So they would be going,

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<v Speaker 2>oh my god, you know, so security is going to

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<v Speaker 2>be delayed, And I said, you know, let's be calm

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<v Speaker 2>about this.

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<v Speaker 1>They've got other ways. In fact, all they have to

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<v Speaker 1>do is take.

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<v Speaker 2>The average from the beginning of the year up to

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<v Speaker 2>It'll be one month short. But take that average and

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<v Speaker 2>use that well low And be hold all the handwringing,

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<v Speaker 2>all the stuff that was last week that oh, this

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<v Speaker 2>is going to be delayed. We don't know if this

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<v Speaker 2>is going to get into effect by January. The effect

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<v Speaker 2>that the checks may not be adjusted. They'll have to

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<v Speaker 2>go back and adjust.

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<v Speaker 1>That later on. Well, no, okay.

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<v Speaker 2>New Social Security cola release date confirmed amid government shutdown.

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<v Speaker 2>The announcement of the Social Security annual inflation adjustment to

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<v Speaker 2>benefits has been delayed due to the government shutdown, but

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<v Speaker 2>the agency responsible for handling the benefits increase has set

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<v Speaker 2>a date for releasing the data next week. SOBI Security

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<v Speaker 2>benefits undergo a cost of living adjustment COLA, as it's called,

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<v Speaker 2>every year, which updates benefits amounts to account for inflation

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<v Speaker 2>over the last year. The size of the annual cola

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<v Speaker 2>is determined by the rise in the consumer price index

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<v Speaker 2>over the prior year.

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<v Speaker 1>And again, if they're.

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<v Speaker 2>Having problems with this, you already have January February, already

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<v Speaker 2>have through the month of September. Well, yeah, August at least,

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<v Speaker 2>so you got at least eight months worth of data,

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<v Speaker 2>or maybe a and a half months worth of data.

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<v Speaker 1>If you have a.

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<v Speaker 2>Problem with that, that's right, because this Consumer Price Index

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<v Speaker 2>comes out the middle of the month, so we already

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<v Speaker 2>had September, so she got nine months of the year.

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<v Speaker 2>Take the average of that, or take the number of

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<v Speaker 2>that and use that that tenth month is going to

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<v Speaker 2>make that big of a difference. Bureau of Labor Statistics

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<v Speaker 2>releases the CPI on a monthly basis to gauge how

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<v Speaker 2>much higher inflation has pushed the consumer prices. However, the

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<v Speaker 2>September CPI data that was supposed to be released October

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<v Speaker 2>the fifteenth and complete the COLA calculation was delayed by

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<v Speaker 2>the government shutdown. BLS announced it had recalled some of

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<v Speaker 2>the workers who were furloughed due to the government shutdown

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<v Speaker 2>to complete the CPI report and allow COLA to be released.

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<v Speaker 2>The BLS will now release the September CPI on Friday,

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<v Speaker 2>October the twenty fourth, while the Social Security Administration will

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<v Speaker 2>announce the twenty twenty six COLA the same day. Experts

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<v Speaker 2>anticipate now this is what's interesting, which really wouldn't have

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<v Speaker 2>changed if you would have taken the last CPI report

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<v Speaker 2>where inflation was somewhere between two point seven and two

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<v Speaker 2>point nine percent. If you were to used that number,

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<v Speaker 2>that's exactly where they're going to be at. Experts expect

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<v Speaker 2>that the twenty twenty six COLA will raise Social Security

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<v Speaker 2>recipient's benefits payments by more than two point five percent.

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<v Speaker 2>Senior Citizens League estimated last month that the COLA for

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<v Speaker 2>twenty twenty six will be two point seven t Let

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<v Speaker 2>me see. T SLC noted that the estimate in higher

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<v Speaker 2>than what was PROMOTE projected in the outset of the year,

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<v Speaker 2>when it was estimated would be two point one percent.

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<v Speaker 2>The group also noted that two point seven COLA would

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<v Speaker 2>be about average of what the historical standpoint, So if

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<v Speaker 2>it was two point six two point seven, some are

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<v Speaker 2>estimating its as high as two point nine percent. They

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<v Speaker 2>knew this before the September data would even come out.

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<v Speaker 2>And why they did all the hand ringing, why they

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<v Speaker 2>did all the I don't know, trying to scare people,

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<v Speaker 2>scare tactics put pre well, if they would put pressure

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<v Speaker 2>on the Democrats to end the Schumer shutdown. That would

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<v Speaker 2>be good, that would be good for the country, good

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<v Speaker 2>for us. But quite honestly, have many people notice that

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<v Speaker 2>the government has been shut down. I know there's been

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<v Speaker 2>some things in talking about certain things going out as

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<v Speaker 2>far as health premiums and insurance subsidies and that type

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<v Speaker 2>of thing, but that's.

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<v Speaker 1>All going to be worked out. That could be worked

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<v Speaker 1>out a different way.

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<v Speaker 2>So all these scare tactics they've been talking about, at

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<v Speaker 2>least they're not in office and creating headaches for us

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<v Speaker 2>during the government shutdown. So I just thought it was

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<v Speaker 2>interesting that we talked about this just last week, talked

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<v Speaker 2>about how that this isn't that big a deal, that

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<v Speaker 2>there are numbers that they can use and are available

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<v Speaker 2>that they could use and just implement that. And if

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<v Speaker 2>they're implementing it, and if their system is up to date,

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<v Speaker 2>it shouldn't take two and a half months to make

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<v Speaker 2>an adjustment on those security payments. So bottom line, once again,

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<v Speaker 2>America's truck A network is far ahead of the curve.

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<v Speaker 2>We had this information last week, talked about it not

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<v Speaker 2>big deal. Now all of a sudden Wednesday, actually Thursday,

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<v Speaker 2>well yesterday of this week, they finally get around to saying, oh, whoops,

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<v Speaker 2>never mind, it's just spoon fed regurgitators in the mainstream media.

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<v Speaker 2>They always got to glom onto something. And as I've

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<v Speaker 2>been saying all along, it appears as though that the

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<v Speaker 2>mainstream media, the spoon fed regurgitators in the mainstream media,

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<v Speaker 2>and certain people I think within the Federal Reserve, are

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<v Speaker 2>trying to manufacture a recession. And fortunately for you, me

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<v Speaker 2>and everybody else in this country, we are way too smart,

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<v Speaker 2>way too resilient to get through that or to allow

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<v Speaker 2>that to happen, and we will push through because we

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<v Speaker 2>are tough, rugged individualists. I'm Kevin Gordon, America's truck a

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<v Speaker 2>network seven hundred WLW. I'm Kevin Gordon, America's truck in

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<v Speaker 2>Networks seven hundred WLW. Well, it looks as though that

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<v Speaker 2>even though there's a government shut down, and even though

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<v Speaker 2>the government well isn't open, which means that it's not

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<v Speaker 2>creating headaches for you and me, there are per people

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<v Speaker 2>within the administration that are taking a look and have

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<v Speaker 2>been taking a look at projects and things since the

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<v Speaker 2>beginning of the year and making a termination of do

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<v Speaker 2>we really need to be spending money on this kind

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<v Speaker 2>of stuff. There was a report at the I think

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<v Speaker 2>last week, the Department of Energy and seven point five

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<v Speaker 2>billion dollars in grants. Now, seven point five billion dollars

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<v Speaker 2>in grants may not seem a lot in terms of

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<v Speaker 2>if we're talking about trillion dollar deficits. However, as I

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<v Speaker 2>forget who it was, they were on either the Carson

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<v Speaker 2>Show or one of these shows way back when, and

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<v Speaker 2>they were talking about the budget. They were talking about

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<v Speaker 2>spending and government and the federal government and so on,

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<v Speaker 2>and this guy says, you know, a million dollars and

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<v Speaker 2>back then a million dollars right, as opposed to billions

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<v Speaker 2>of dollars now a million dollars here and a billion dollars,

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<v Speaker 2>million dollars there.

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<v Speaker 1>Sooner or later it adds up to a little bit.

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<v Speaker 1>It adds up to some money.

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<v Speaker 2>Well, you know, when you're looking at the bloated government

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<v Speaker 2>and the fact that every year, and I've talked about

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<v Speaker 2>this before, Ran Paul Senator from Kentucky, every year around

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<v Speaker 2>towards the end of December comes up with what they

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<v Speaker 2>call the Festivus Report, where he goes down very various

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<v Speaker 2>items that have come to his attention or stuff that they

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<v Speaker 2>look at things he's picked out of the budget, waste, fraud,

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<v Speaker 2>and abuse, and he puts those in a report. Last

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<v Speaker 2>year's report was one point one trillion dollars in cuts

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<v Speaker 2>of wasteful spend by the federal government, the Office of Management,

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<v Speaker 2>Management and Budget, the Congressional Budget Office, these different agencies,

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<v Speaker 2>the Inspector General's Report periodically come up with these lists

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<v Speaker 2>of stuff that's being spent and what it's being spent on.

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<v Speaker 2>And it's always a punchline or as part of a

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<v Speaker 2>joke that people do, as opposed to saying, you know,

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<v Speaker 2>when somebody says, well, you know, they spent this kind

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<v Speaker 2>of money on this report, and isn't that just stupid?

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<v Speaker 2>And rather than saying, you know what, call your congressman,

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<v Speaker 2>call your senators, say what the hell are you guys doing?

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<v Speaker 1>Why is this in the budget? Why are you reaching

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<v Speaker 1>into my pocket?

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<v Speaker 2>Why are you confiscating my taxes and spending you know,

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<v Speaker 2>eleven million dollars on circumcisions in Zimbabwe, I mean, for

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<v Speaker 2>crying out loud, I mean we have veterans living on

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<v Speaker 2>the street, we have senior citizens that are struggling, We

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<v Speaker 2>have army veterans that can't get the health care.

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<v Speaker 1>That they properly needed.

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<v Speaker 2>They are the ones that fought and died for this country,

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<v Speaker 2>and yet we're spending billions and billions of dollars and

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<v Speaker 2>in some cases trillions of dollars on other social programs

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<v Speaker 2>that are just wasteful, that can show no actual progress

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<v Speaker 2>in terms of what problem they're trying to solve. And

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<v Speaker 2>we've talked about on this program a number of times.

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<v Speaker 2>I mean, you're out there on the road every day.

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<v Speaker 2>You see how the roads have deteriorated. I made a

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<v Speaker 2>mention a couple well, about.

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<v Speaker 1>Two years ago.

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<v Speaker 2>I used to go back and forth between Cincinnati and

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<v Speaker 2>Louisville on a fairly regular basis. Not I wouldn't say,

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<v Speaker 2>you know, every week, every month, and every couple of months,

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<v Speaker 2>i'd find myself going down to Louisville. And once you get,

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<v Speaker 2>you know, to a certain area, I mean, it's clear sailing,

0:12:49.440 --> 0:12:52.760
<v Speaker 2>it's really nice. But I hadn't gone down to Louisville

0:12:52.800 --> 0:12:55.719
<v Speaker 2>for about I guess it was about two years, and

0:12:56.280 --> 0:12:58.280
<v Speaker 2>I had to go down Louisville for something, and I

0:12:58.440 --> 0:13:01.480
<v Speaker 2>was absolutely shocked. I thought it was I thought it

0:13:01.520 --> 0:13:05.520
<v Speaker 2>was in a Connostoga wagon going through the wagon wheel

0:13:05.640 --> 0:13:09.160
<v Speaker 2>ruts trying to avoid the potholes, and some of those

0:13:09.200 --> 0:13:14.400
<v Speaker 2>things were like, you know, teeth chattering potholes, and I

0:13:14.440 --> 0:13:17.280
<v Speaker 2>can you know when you see that and you know

0:13:17.360 --> 0:13:20.680
<v Speaker 2>how much money goes into the Department of Transportation, goes

0:13:20.720 --> 0:13:23.840
<v Speaker 2>into the Federal Highway Trust Fund, and then you realize

0:13:23.880 --> 0:13:26.320
<v Speaker 2>that thirty three percent of that money is wasted on

0:13:26.320 --> 0:13:26.960
<v Speaker 2>another project.

0:13:27.080 --> 0:13:29.920
<v Speaker 1>We pointed out one the other day of where you know.

0:13:30.120 --> 0:13:34.640
<v Speaker 2>The FMCSA, the salaries and wages of the FMCSA comes.

0:13:34.320 --> 0:13:35.280
<v Speaker 1>Out of that budget.

0:13:35.520 --> 0:13:38.040
<v Speaker 2>Department of Energy comes out of the regular taxes that

0:13:38.080 --> 0:13:40.880
<v Speaker 2>are paid, the Department of Education comes out of the

0:13:40.880 --> 0:13:44.280
<v Speaker 2>regular taxes that are paid. But the FMCSA that comes

0:13:44.280 --> 0:13:46.640
<v Speaker 2>out of the Federal Highway Trust Fund. The money that

0:13:46.679 --> 0:13:50.200
<v Speaker 2>we pay as a result of our gasoline tax, diesel taxes,

0:13:50.400 --> 0:13:54.640
<v Speaker 2>excise taxes on your tractors, your trailers, the you know

0:13:55.080 --> 0:13:58.160
<v Speaker 2>semis going down the street on your tires and so on.

0:13:58.400 --> 0:14:01.880
<v Speaker 2>So all these excise taxes we've been told goes into

0:14:01.920 --> 0:14:04.440
<v Speaker 2>the Highway Trust Fund that are supposed to repair our

0:14:04.480 --> 0:14:07.319
<v Speaker 2>bridges and roads, that that money is going to be

0:14:07.360 --> 0:14:10.319
<v Speaker 2>funded by that. No, they pull money out to fund

0:14:10.320 --> 0:14:14.840
<v Speaker 2>the North What was it Northeast Corridor, that train that

0:14:15.000 --> 0:14:18.959
<v Speaker 2>runs from basically Washington, d C. And New York up

0:14:18.960 --> 0:14:22.040
<v Speaker 2>into Connecticut, New Hampshire and Delaware and so on, so

0:14:22.080 --> 0:14:25.240
<v Speaker 2>that people can commute on the train, take a forty

0:14:25.320 --> 0:14:28.120
<v Speaker 2>five fifty minute ride to get out of the city.

0:14:28.280 --> 0:14:32.720
<v Speaker 2>But we're subsidizing that. Why are we subsidizing something that

0:14:32.840 --> 0:14:35.880
<v Speaker 2>is not the highway, something that is not bridges and

0:14:35.960 --> 0:14:38.360
<v Speaker 2>roads and stuff like that. Why are we subsidizing that?

0:14:38.680 --> 0:14:41.880
<v Speaker 2>Why are we subsidizing hiking and biking trails that comes

0:14:41.920 --> 0:14:43.120
<v Speaker 2>out of the Highway Trust Fund.

0:14:43.440 --> 0:14:45.280
<v Speaker 1>Not opposed to hiking and biking.

0:14:45.000 --> 0:14:47.400
<v Speaker 2>Trails, But by god, if they can tax us for

0:14:47.480 --> 0:14:51.040
<v Speaker 2>our tires, tax us for our gasoline, taxes for our diesel,

0:14:51.360 --> 0:14:53.200
<v Speaker 2>can't they put some sort of a tax on the

0:14:53.200 --> 0:14:56.680
<v Speaker 2>bike helmets, the bike gloves, the bicycles themselves, the tires

0:14:56.800 --> 0:14:59.080
<v Speaker 2>on the bicycles, and put a little bit of money

0:14:59.080 --> 0:15:02.360
<v Speaker 2>aside to build these hiking trails, biking trails and so on.

0:15:02.560 --> 0:15:05.720
<v Speaker 2>Look at all the equipment that goes into the hiking boots,

0:15:05.720 --> 0:15:08.840
<v Speaker 2>the socks, there's certain shorts, there's walking sticks, all this

0:15:08.960 --> 0:15:10.480
<v Speaker 2>kind of stuff that's done.

0:15:10.600 --> 0:15:11.480
<v Speaker 1>They could tax that.

0:15:11.560 --> 0:15:14.040
<v Speaker 2>They could put a small price on that and then

0:15:14.120 --> 0:15:15.119
<v Speaker 2>fund these things.

0:15:14.880 --> 0:15:17.480
<v Speaker 1>Instead of us. Because again when.

0:15:17.320 --> 0:15:20.000
<v Speaker 2>They're told, you know, when you're going through these highways

0:15:20.080 --> 0:15:23.200
<v Speaker 2>and you come upon a toll, they are told they

0:15:23.200 --> 0:15:26.160
<v Speaker 2>are tolling that road because they didn't have the money

0:15:26.200 --> 0:15:28.640
<v Speaker 2>in order to fix that road or to build that road.

0:15:28.800 --> 0:15:31.680
<v Speaker 2>And they're saying, well, it's a user fee, you use it,

0:15:31.880 --> 0:15:34.920
<v Speaker 2>you pay for it. Well, if you're using the biking trail,

0:15:34.960 --> 0:15:37.520
<v Speaker 2>and you're using the hiking trail, or you're using the

0:15:37.600 --> 0:15:41.320
<v Speaker 2>train going up to Connecticut, that's the same train that

0:15:41.400 --> 0:15:43.480
<v Speaker 2>Joe Biden bragged about using every.

0:15:43.360 --> 0:15:45.440
<v Speaker 1>Day so he could go home to his family. Applaud

0:15:45.520 --> 0:15:47.440
<v Speaker 1>him for that being home for his kids.

0:15:48.480 --> 0:15:50.560
<v Speaker 2>That's probably one of the nicest things I can say

0:15:50.560 --> 0:15:53.240
<v Speaker 2>about it, and the only nice thing. But again, we're

0:15:53.280 --> 0:15:57.680
<v Speaker 2>subsidizing those trips for those commuters going to and from work.

0:15:58.560 --> 0:16:02.600
<v Speaker 2>Who's subsidizing aren't who's subsidizing our gas and oil?

0:16:03.600 --> 0:16:05.760
<v Speaker 1>It's not anybody else. We're paying for that.

0:16:06.200 --> 0:16:07.960
<v Speaker 2>And then to have this money pulled out of the

0:16:08.000 --> 0:16:12.360
<v Speaker 2>Federal Highway Trust Fund is ridiculous. Again, it's they tell

0:16:12.440 --> 0:16:14.920
<v Speaker 2>us the tolls are a user fee, all right, Well,

0:16:14.960 --> 0:16:17.160
<v Speaker 2>then put a user fee on the hiking trails and

0:16:17.200 --> 0:16:20.360
<v Speaker 2>biking trails. Don't put that, don't take that out of

0:16:20.400 --> 0:16:23.000
<v Speaker 2>the Highway Trust Fund, and quit whining to us the

0:16:23.040 --> 0:16:25.400
<v Speaker 2>fact that you don't have enough money to repair these

0:16:25.440 --> 0:16:28.680
<v Speaker 2>resident Oh, by the way, let's not forget that when

0:16:28.720 --> 0:16:31.920
<v Speaker 2>the highway system went into place in the first place,

0:16:32.080 --> 0:16:36.640
<v Speaker 2>back in nineteen fifty six during the during the Eisenhower administration,

0:16:37.160 --> 0:16:40.800
<v Speaker 2>after he saw during World War Two what the autobahn

0:16:40.880 --> 0:16:43.560
<v Speaker 2>did in Germany from the troops being able to be

0:16:43.640 --> 0:16:45.640
<v Speaker 2>moved from one end of the country to the other,

0:16:45.960 --> 0:16:48.480
<v Speaker 2>and recognize that in the United States, if you're going

0:16:48.480 --> 0:16:50.360
<v Speaker 2>from one end of the country to the other, it

0:16:50.360 --> 0:16:52.400
<v Speaker 2>would take you two and a half to three weeks,

0:16:52.720 --> 0:16:55.360
<v Speaker 2>two and a half to three weeks from going from

0:16:55.680 --> 0:16:58.240
<v Speaker 2>the east coast to the West coast, or vice versa.

0:16:58.840 --> 0:17:02.040
<v Speaker 2>He recognized what a that was, especially going into the

0:17:02.040 --> 0:17:05.400
<v Speaker 2>Cold War, said we're going to develop the Federal Highway

0:17:05.600 --> 0:17:09.000
<v Speaker 2>Fund or the Federal Highway System, and it was put

0:17:09.119 --> 0:17:14.800
<v Speaker 2>as the National Defense System and Highway Fund, and so

0:17:15.280 --> 0:17:18.320
<v Speaker 2>this was part of the federal government. The federal government

0:17:18.320 --> 0:17:22.439
<v Speaker 2>at that time paid ninety percent of the cost of

0:17:22.720 --> 0:17:26.959
<v Speaker 2>the Federal Highway interstate highway system and if they recognized

0:17:27.000 --> 0:17:30.360
<v Speaker 2>that that was a national security issue, why isn't part

0:17:30.400 --> 0:17:32.520
<v Speaker 2>of the money coming out of the Defense Fund to

0:17:32.640 --> 0:17:36.800
<v Speaker 2>repair repair bridge and bridges and roads. Why isn't that

0:17:36.840 --> 0:17:41.080
<v Speaker 2>still part of the federal the Defense Fund. We've got

0:17:41.080 --> 0:17:43.600
<v Speaker 2>the Highway Trust Fund which can do that as well.

0:17:43.800 --> 0:17:47.120
<v Speaker 2>But again, the government at the time recognized the importance

0:17:47.160 --> 0:17:49.600
<v Speaker 2>of this not only for troop movement, but then also

0:17:49.640 --> 0:17:53.000
<v Speaker 2>as a side benefit, a benefit to the consumers out there,

0:17:53.119 --> 0:17:55.000
<v Speaker 2>so that they could travel from one end of the

0:17:55.040 --> 0:17:56.880
<v Speaker 2>country to the other in a short period of time

0:17:56.960 --> 0:17:59.320
<v Speaker 2>and enjoy more of leisure life in terms of their

0:17:59.359 --> 0:18:02.320
<v Speaker 2>family vacationations and stuff. And how much that opened up

0:18:02.359 --> 0:18:04.399
<v Speaker 2>in terms of being able to spend time with their

0:18:04.440 --> 0:18:06.600
<v Speaker 2>family going to different places. I mean, if you live

0:18:06.640 --> 0:18:08.119
<v Speaker 2>in Michigan and you can go all the way to

0:18:08.160 --> 0:18:10.320
<v Speaker 2>Florida in a couple of days as opposed to a

0:18:10.359 --> 0:18:13.560
<v Speaker 2>four or five day trip down there, at benefited us

0:18:13.560 --> 0:18:15.840
<v Speaker 2>in terms of our leisure time. So the fact that

0:18:16.200 --> 0:18:19.040
<v Speaker 2>they recognized this at the time should be something that

0:18:19.080 --> 0:18:23.199
<v Speaker 2>they recognize today. So again, all this stuff, as far

0:18:23.280 --> 0:18:27.360
<v Speaker 2>as these projects and this money being spent, is unbelievable.

0:18:27.400 --> 0:18:28.720
<v Speaker 1>And we'll get back to what I was.

0:18:28.720 --> 0:18:31.119
<v Speaker 2>Going to talk about in the first place, this seven

0:18:31.160 --> 0:18:34.640
<v Speaker 2>point five billion dollars in grants that have been pulled back.

0:18:34.840 --> 0:18:38.760
<v Speaker 2>I'm Kevin Gordon, america'struck a Network, seven hundred WLW.

0:18:46.200 --> 0:18:48.520
<v Speaker 3>Here's your trucking forecast for the Try State and the

0:18:48.520 --> 0:18:50.520
<v Speaker 3>rest of the country and the Try State. Over Night,

0:18:50.520 --> 0:18:53.440
<v Speaker 3>partly cloudy, the low down to forty eight Sunday, Thursday

0:18:53.560 --> 0:18:56.360
<v Speaker 3>high of sixty nine mostly Sunday. Friday high of seventy

0:18:56.359 --> 0:18:59.960
<v Speaker 3>one Saturday, mostly sunny with a slight chance of afternooner

0:19:00.080 --> 0:19:02.639
<v Speaker 3>and warmer Ahia eight two. Rain moves in overnight and

0:19:02.680 --> 0:19:06.000
<v Speaker 3>continues into Sunday. Nationally, heavy snow will be seen uper

0:19:06.000 --> 0:19:08.439
<v Speaker 3>parts of the Northern Rockies Thursday, while there is a

0:19:08.600 --> 0:19:11.240
<v Speaker 3>chance of showers and storms upper parts of the Northern Plains,

0:19:11.280 --> 0:19:14.240
<v Speaker 3>of the Southern Plains and Upper Great Lakes region Wednesday

0:19:14.280 --> 0:19:15.000
<v Speaker 3>and Thursday.

0:19:18.760 --> 0:19:20.680
<v Speaker 1>Seven hundred WLW.

0:19:20.800 --> 0:19:27.400
<v Speaker 2>I this is America's Hello, seven hundred w LW's Americans

0:19:27.440 --> 0:19:28.159
<v Speaker 2>Tracking Network.

0:19:28.200 --> 0:19:29.040
<v Speaker 1>I'm Gavin Gordon.

0:19:29.880 --> 0:19:33.920
<v Speaker 2>By the way, programming no Thursday night football game Bengals

0:19:33.920 --> 0:19:36.760
<v Speaker 2>are on. They're playing Pittsburgh Steelers, so we will be

0:19:36.840 --> 0:19:39.919
<v Speaker 2>preempted tomorrow. So there will be no Friday show. By

0:19:39.920 --> 0:19:41.800
<v Speaker 2>the way, if you miss any of our programs, make

0:19:41.840 --> 0:19:44.480
<v Speaker 2>sure you hit up that iHeartRadio app of course, brought

0:19:44.480 --> 0:19:46.680
<v Speaker 2>to you by our friends at Rush Truck Centers.

0:19:46.880 --> 0:19:48.719
<v Speaker 1>I was talking about this particular story.

0:19:49.000 --> 0:19:52.320
<v Speaker 2>Department of Energy ends seven point five billion dollars in

0:19:52.359 --> 0:19:56.640
<v Speaker 2>grants for Biden approved projects. Department of Energy terminated seven

0:19:56.680 --> 0:19:59.520
<v Speaker 2>point five billion dollars in grants for two hundred and

0:19:59.520 --> 0:20:03.720
<v Speaker 2>twenty three projects approved by the Biden administration. Imagine how

0:20:03.720 --> 0:20:06.800
<v Speaker 2>many roads and bridges or something that that could fund,

0:20:07.280 --> 0:20:10.479
<v Speaker 2>or benefits for veterans who are out on the street,

0:20:11.160 --> 0:20:14.520
<v Speaker 2>housing for homeless veterans, and so on. Seven point five

0:20:14.560 --> 0:20:17.359
<v Speaker 2>billion dollars has not jump change. On day one, the

0:20:17.480 --> 0:20:21.080
<v Speaker 2>Energy Department began a critical task of reviewing billions of

0:20:21.119 --> 0:20:24.600
<v Speaker 2>dollars of financial awards. This, according to Chris Wright, the

0:20:25.240 --> 0:20:28.440
<v Speaker 2>Energy Secretary looked at critical task of reviewing billions of

0:20:28.480 --> 0:20:33.320
<v Speaker 2>dollars of financial awards many rushed through the final months

0:20:33.320 --> 0:20:38.600
<v Speaker 2>of the Biden administration with inadequate documentation by any reasonable

0:20:38.640 --> 0:20:44.360
<v Speaker 2>business standard. President Trump promised to protect taxpayer dollars, expand

0:20:44.359 --> 0:20:50.000
<v Speaker 2>America's supply of affordable, reliable, and secure energy today's cancelations

0:20:50.040 --> 0:20:55.720
<v Speaker 2>deliver on that commitment. Rest assured the Energy Department will

0:20:55.760 --> 0:20:58.000
<v Speaker 2>continue reviewing awards.

0:20:57.640 --> 0:21:01.199
<v Speaker 1>To ensure that every dollar works for the American people.

0:21:01.800 --> 0:21:06.040
<v Speaker 2>Wright's office stated that twenty six percent of the projects

0:21:06.440 --> 0:21:11.000
<v Speaker 2>worth more than three point one billion dollars were awarded

0:21:11.040 --> 0:21:17.120
<v Speaker 2>between election day and inauguration day. I'm sorry, my friends

0:21:17.320 --> 0:21:20.560
<v Speaker 2>that once the election was determined and we knew who

0:21:20.600 --> 0:21:23.199
<v Speaker 2>the new president was going to be, there should have

0:21:23.240 --> 0:21:26.399
<v Speaker 2>been damn little that was shoved through in terms of

0:21:26.440 --> 0:21:32.000
<v Speaker 2>additional spending or grants issued between election day and inauguration day.

0:21:32.240 --> 0:21:36.879
<v Speaker 2>To me that and follow the money is probably a

0:21:36.920 --> 0:21:39.040
<v Speaker 2>bunch of payoffs to a bunch of cronies.

0:21:39.520 --> 0:21:42.160
<v Speaker 1>The total of three hundred and twenty one financial.

0:21:41.720 --> 0:21:47.040
<v Speaker 2>Awards were approved under the Advanced Research Projects Agency Energy,

0:21:48.000 --> 0:21:54.160
<v Speaker 2>the offices of Clean Energy Demonstrations, Energy Efficiency and Renewable Energy,

0:21:54.520 --> 0:22:00.320
<v Speaker 2>Fossil Energy, grid Deployment, Manufacturing, and Energy supply Grants. I mean,

0:22:00.680 --> 0:22:04.080
<v Speaker 2>there is so much redundancy in the federal government that

0:22:04.200 --> 0:22:07.480
<v Speaker 2>every little department has to have their little section of

0:22:07.520 --> 0:22:10.240
<v Speaker 2>the pie. And the more that they can grow these things,

0:22:10.359 --> 0:22:13.760
<v Speaker 2>the more power that they get for themselves. And this

0:22:13.840 --> 0:22:15.880
<v Speaker 2>is some of the things that need to be looked at.

0:22:16.040 --> 0:22:20.000
<v Speaker 2>And as I mentioned before, Rand Paul Festivus Report every

0:22:20.080 --> 0:22:22.240
<v Speaker 2>year is put out. Last year they came up with

0:22:22.320 --> 0:22:26.520
<v Speaker 2>one point one trillion dollars in just those deductions alone,

0:22:26.760 --> 0:22:28.080
<v Speaker 2>or those eliminations from.

0:22:27.960 --> 0:22:28.840
<v Speaker 1>The federal budget.

0:22:29.119 --> 0:22:32.399
<v Speaker 2>That would prove to be amazing Office of Management and

0:22:32.440 --> 0:22:37.320
<v Speaker 2>Budget Inspector General's report they go through every year in

0:22:37.440 --> 0:22:40.840
<v Speaker 2>issue reports of waste, fraud and abuse. And again to

0:22:40.920 --> 0:22:43.840
<v Speaker 2>reemphasize what I said in the previous segment, rather than

0:22:43.840 --> 0:22:46.919
<v Speaker 2>that being a punchline, rather than that being a ha

0:22:47.040 --> 0:22:51.240
<v Speaker 2>ha moment as opposed to an aha moment where people say,

0:22:51.280 --> 0:22:54.639
<v Speaker 2>you know what I need to We need to put

0:22:54.680 --> 0:23:00.440
<v Speaker 2>our you know, harass our federal agencies to eliminate this.

0:23:00.440 --> 0:23:03.440
<v Speaker 1>Crap that's coming out of our pockets.

0:23:03.800 --> 0:23:06.000
<v Speaker 2>But anyway, going back to this particular story, I don't

0:23:06.000 --> 0:23:08.800
<v Speaker 2>want to get off on a tangent again. The governors

0:23:08.800 --> 0:23:14.480
<v Speaker 2>of Washington and California amazing, amazing, amazing, surprise, surprise, surprise

0:23:14.880 --> 0:23:17.439
<v Speaker 2>that a lot of these energy grants went to the

0:23:17.600 --> 0:23:21.480
<v Speaker 2>liberal state of Washington and oh, by the way, California,

0:23:21.520 --> 0:23:25.760
<v Speaker 2>which is you know how liberal they are. Washington Governor

0:23:25.840 --> 0:23:29.840
<v Speaker 2>Bob Ferguson blasted the Trump administration for stopping one point

0:23:29.880 --> 0:23:34.080
<v Speaker 2>one billion dollars for seven Department of Energy grants. The

0:23:34.160 --> 0:23:38.439
<v Speaker 2>previously authorized federal awards included one billion dollars for the

0:23:38.440 --> 0:23:43.919
<v Speaker 2>Pacific Northwest Hydrogen Hub, as well as sixty eight million

0:23:43.920 --> 0:23:47.600
<v Speaker 2>dollars for two pack Car Inc. Projects linked to the

0:23:47.640 --> 0:23:52.080
<v Speaker 2>Super Truck three program. Now, the super Truck three is

0:23:52.119 --> 0:23:55.960
<v Speaker 2>an electric vehicle, and as we've seen, electric vehals are

0:23:55.960 --> 0:23:59.160
<v Speaker 2>not ready for Electric vehicles are not ready for prime time.

0:23:59.400 --> 0:24:02.560
<v Speaker 2>The infant structure isn't there, the number of charging stations

0:24:02.600 --> 0:24:06.280
<v Speaker 2>aren't there. And when you take in take into consideration

0:24:06.920 --> 0:24:11.720
<v Speaker 2>the weight of these vehicles, the fact that electric tractor

0:24:11.920 --> 0:24:17.280
<v Speaker 2>trailers are the cabs themselves weigh a third more than

0:24:17.359 --> 0:24:22.760
<v Speaker 2>what the normal cab weighs. So if you're hauling freight,

0:24:23.280 --> 0:24:27.000
<v Speaker 2>you can only you would be hauling one third less freight.

0:24:27.440 --> 0:24:30.280
<v Speaker 2>So for every one of these trucks electric trucks that

0:24:30.320 --> 0:24:34.320
<v Speaker 2>you'd buy, you need one point three trucks in order

0:24:34.359 --> 0:24:37.600
<v Speaker 2>to carry the same weight, not to mention the fact

0:24:37.640 --> 0:24:41.719
<v Speaker 2>that the normal tractor costs between one hundred and eighty

0:24:41.880 --> 0:24:45.960
<v Speaker 2>and two hundred and thirty two twenty thousand dollars. The

0:24:46.000 --> 0:24:50.520
<v Speaker 2>cost of an electric Class eight truck is four hundred

0:24:50.600 --> 0:24:54.919
<v Speaker 2>and twenty five thousand dollars, almost twice the cost of

0:24:54.960 --> 0:24:59.160
<v Speaker 2>a regular truck. And when you look into okay, all right,

0:24:59.320 --> 0:25:02.840
<v Speaker 2>if you buy the nonsense that an electric vehicle is

0:25:02.880 --> 0:25:07.399
<v Speaker 2>a lot cleaner than a regular vehicle, well you got

0:25:07.440 --> 0:25:09.760
<v Speaker 2>to take into consideration to wear and tear on the roads.

0:25:09.760 --> 0:25:13.080
<v Speaker 2>You're talking about more weight and breaking down the roads

0:25:13.080 --> 0:25:17.119
<v Speaker 2>a little lot more so, the construction equipment, everything necessary

0:25:17.280 --> 0:25:20.600
<v Speaker 2>in order to repair that road is going to be

0:25:20.600 --> 0:25:24.400
<v Speaker 2>a carbon footprint. The fact that you're charging these stations

0:25:24.400 --> 0:25:28.040
<v Speaker 2>and what are you charging these stations with electricity? And

0:25:28.119 --> 0:25:31.159
<v Speaker 2>where are you getting that electricity? You're going you're not

0:25:31.200 --> 0:25:33.479
<v Speaker 2>going to do it by solar panels. You're not going

0:25:33.520 --> 0:25:36.040
<v Speaker 2>to be doing by windmills because they have proven to

0:25:36.080 --> 0:25:39.439
<v Speaker 2>be very inefficient and not reliable. So you're going to

0:25:39.440 --> 0:25:41.440
<v Speaker 2>be burning more coal. You're gonna have to be producing

0:25:41.480 --> 0:25:45.919
<v Speaker 2>more electricity. So where is the offset that they're talking about. Again,

0:25:46.800 --> 0:25:49.200
<v Speaker 2>it's not ready for prime time, and to cancel these

0:25:49.200 --> 0:25:52.840
<v Speaker 2>contracts is not in my opinion. Now, when it comes

0:25:52.840 --> 0:25:55.560
<v Speaker 2>to hydrogen, I have seen a lot of things having

0:25:55.560 --> 0:25:58.080
<v Speaker 2>to do with hydrogen. It appears as though that that

0:25:58.280 --> 0:26:00.720
<v Speaker 2>might be something that could be done in the future.

0:26:01.119 --> 0:26:04.600
<v Speaker 2>But again, when I see all of these different projects

0:26:04.640 --> 0:26:07.240
<v Speaker 2>going out there, you would think that if you're developing

0:26:07.280 --> 0:26:09.679
<v Speaker 2>something new, that there would be some sort of like

0:26:09.800 --> 0:26:13.120
<v Speaker 2>a what do you want a clearinghouse, if you will,

0:26:14.119 --> 0:26:17.120
<v Speaker 2>in terms of well if somebody else, if somebody's over

0:26:17.119 --> 0:26:20.479
<v Speaker 2>here doing this experiment, you don't want to subsidize and

0:26:20.520 --> 0:26:23.200
<v Speaker 2>fund somebody over here doing the same experiment.

0:26:23.880 --> 0:26:26.560
<v Speaker 1>You want to have some cross negotiation there.

0:26:26.800 --> 0:26:29.440
<v Speaker 2>But one of the things that we learned as you

0:26:29.520 --> 0:26:32.879
<v Speaker 2>pull back the curtain on the pandemic and what was

0:26:32.920 --> 0:26:35.560
<v Speaker 2>done as far as some of these vaccines are concerned,

0:26:35.840 --> 0:26:41.120
<v Speaker 2>and some of the scientific technology way back when Fauci

0:26:41.480 --> 0:26:45.239
<v Speaker 2>had it put through that some of these patents that

0:26:45.280 --> 0:26:49.879
<v Speaker 2>are done are then the property of that person or

0:26:50.359 --> 0:26:54.800
<v Speaker 2>that institution like a college or a university that develops

0:26:54.880 --> 0:26:57.800
<v Speaker 2>that item, and then they get the royalties from that.

0:26:58.359 --> 0:27:04.080
<v Speaker 2>So US as the tax subsidize this research, the research

0:27:04.240 --> 0:27:07.400
<v Speaker 2>is developed, and then they get the royalties from that

0:27:07.400 --> 0:27:10.399
<v Speaker 2>that doesn't pass through to US to reimburse US for

0:27:10.480 --> 0:27:15.560
<v Speaker 2>the grant. And so instead of collaboration, people are tight knit,

0:27:15.880 --> 0:27:18.560
<v Speaker 2>we're not going to share our information with somebody else,

0:27:18.600 --> 0:27:21.000
<v Speaker 2>because if they get to the finish line before us,

0:27:21.200 --> 0:27:23.359
<v Speaker 2>we're not going to get our share of the pie.

0:27:23.480 --> 0:27:25.920
<v Speaker 2>And so the same thing I think is probably done

0:27:25.960 --> 0:27:30.639
<v Speaker 2>with these hydrogen experiments and stuff that's being done. And again,

0:27:31.200 --> 0:27:33.199
<v Speaker 2>it might be the wave of the future, and it

0:27:33.240 --> 0:27:36.760
<v Speaker 2>may be something that is very cost productive in the future.

0:27:37.400 --> 0:27:40.600
<v Speaker 2>But again, unless there is some sort of a clearinghouse

0:27:40.720 --> 0:27:44.000
<v Speaker 2>or some sort of an overseeing of this to make

0:27:44.040 --> 0:27:47.080
<v Speaker 2>sure that it has done efficiently efficiently, I'm not so

0:27:47.200 --> 0:27:51.040
<v Speaker 2>sure about it. And of course Gavin Newsom is whining

0:27:51.119 --> 0:27:54.159
<v Speaker 2>about technical centers in California that they're not getting their

0:27:54.200 --> 0:27:56.960
<v Speaker 2>share of the pie termination of one point two billion

0:27:57.000 --> 0:28:00.040
<v Speaker 2>dollars from the Department of Energy State Hydrogen Fund. And

0:28:00.160 --> 0:28:02.920
<v Speaker 2>let's not forget the billions and billions and hundreds of

0:28:02.960 --> 0:28:05.879
<v Speaker 2>billions of dollars that they've wasted on this high speed

0:28:06.000 --> 0:28:08.560
<v Speaker 2>rail system out there where they haven't even laid a

0:28:08.680 --> 0:28:12.720
<v Speaker 2>track yet and they're what five times over budget. Anyway,

0:28:12.960 --> 0:28:15.840
<v Speaker 2>the efficiencies in California, I'm not so sure that money

0:28:15.840 --> 0:28:19.720
<v Speaker 2>pouring into California for any kind of research grant is

0:28:19.760 --> 0:28:22.200
<v Speaker 2>going to get us anything that what we need.

0:28:23.000 --> 0:28:24.240
<v Speaker 1>I'm Kevin coming up.

0:28:24.280 --> 0:28:26.040
<v Speaker 2>We've got to talk a little bit about We've got

0:28:26.080 --> 0:28:27.320
<v Speaker 2>to get to oil and gas prices.

0:28:27.320 --> 0:28:29.119
<v Speaker 1>I haven't talked about that in a number of days.

0:28:29.280 --> 0:28:37.280
<v Speaker 2>I'm Kevin Gordon, America's Trucking Network, seven hundred WLW. This

0:28:37.800 --> 0:28:41.200
<v Speaker 2>is America's struck in Network, seven one hundred WLW. I'm

0:28:41.280 --> 0:28:43.120
<v Speaker 2>and Kevin Gordon. Let's take a look at oil and

0:28:43.160 --> 0:28:46.200
<v Speaker 2>gas prices. We have not talked about this much over

0:28:46.200 --> 0:28:48.240
<v Speaker 2>the last week or so. There's just been too much

0:28:48.280 --> 0:28:51.600
<v Speaker 2>news and too much other things going on. So before

0:28:51.640 --> 0:28:55.920
<v Speaker 2>we get to the Fed minutes and talk about inflation

0:28:56.120 --> 0:28:59.560
<v Speaker 2>and so on, let's look at oil and gas prices currently.

0:28:59.600 --> 0:29:03.440
<v Speaker 2>West this intermediate crued is it fifty eight dollars and

0:29:03.520 --> 0:29:06.640
<v Speaker 2>forty cents a barrel? That is down thirty cents thirty

0:29:06.720 --> 0:29:09.600
<v Speaker 2>cents from yesterday, or a half a percentage point. Brent

0:29:09.680 --> 0:29:12.200
<v Speaker 2>krude currently is at sixty two dollars and two cents

0:29:12.200 --> 0:29:15.160
<v Speaker 2>of barrel. That is down thirty seven cents or point

0:29:15.200 --> 0:29:19.880
<v Speaker 2>five nine, a little over half a percentage point just

0:29:19.920 --> 0:29:23.440
<v Speaker 2>since January the twenty, is when Trump took office. West

0:29:23.440 --> 0:29:28.000
<v Speaker 2>Texas intermediate creued is down eighteen dollars and forty nine cents.

0:29:28.080 --> 0:29:35.600
<v Speaker 2>That's a twenty four percent decrease. Twenty four percent decrease.

0:29:36.280 --> 0:29:40.520
<v Speaker 2>That doesn't lower energy prices. I don't know what will

0:29:41.480 --> 0:29:44.320
<v Speaker 2>Brent krude. Currently is it, as I said, sixty two

0:29:44.320 --> 0:29:47.120
<v Speaker 2>dollars and two cents. Just since January it is down

0:29:47.520 --> 0:29:50.680
<v Speaker 2>seventeen dollars in eighty eight cents a barrel, or twenty

0:29:51.040 --> 0:29:56.920
<v Speaker 2>two percentage points. Gasoline is starting to fall finally come down,

0:29:57.400 --> 0:29:59.800
<v Speaker 2>not as much as I would like to have had

0:30:00.120 --> 0:30:02.920
<v Speaker 2>to see it come down. I think gas prices should

0:30:02.920 --> 0:30:05.840
<v Speaker 2>actually right now be about ten to fifteen percent less

0:30:05.840 --> 0:30:08.480
<v Speaker 2>than what they are. The current national average right now

0:30:08.560 --> 0:30:11.360
<v Speaker 2>is at three dollars and seven cents a gallon. Now

0:30:11.680 --> 0:30:15.600
<v Speaker 2>that is offset by the fact that in California, their

0:30:15.720 --> 0:30:19.400
<v Speaker 2>gasoline average price in the state of California is four

0:30:20.000 --> 0:30:24.280
<v Speaker 2>dollars and sixty five cents a gallon. That is a

0:30:24.360 --> 0:30:29.240
<v Speaker 2>dollar fifty nine higher than the national average because of

0:30:29.480 --> 0:30:33.520
<v Speaker 2>all their regulations, all of their additives, all of their

0:30:33.560 --> 0:30:37.840
<v Speaker 2>special gas blends there, and all the taxes that they

0:30:37.880 --> 0:30:40.960
<v Speaker 2>put on gasoline out there, which I don't know why

0:30:41.000 --> 0:30:44.200
<v Speaker 2>the people in California tolerate that. You've got a high

0:30:44.360 --> 0:30:47.440
<v Speaker 2>in California four dollars and sixty five cents a gallon

0:30:47.680 --> 0:30:50.520
<v Speaker 2>to a low of two dollars and fifty eight cents

0:30:50.520 --> 0:30:54.840
<v Speaker 2>a gallon in Oklahoma. National average is three dollars and

0:30:55.440 --> 0:30:59.440
<v Speaker 2>seven cents of gallon. Back in twenty twenty, when we

0:30:59.480 --> 0:31:02.680
<v Speaker 2>are energy independent for the first time since nineteen forty nine,

0:31:03.000 --> 0:31:06.000
<v Speaker 2>gasoline was down around two dollars and twenty four cents

0:31:06.000 --> 0:31:09.160
<v Speaker 2>a gallon. We are thirty seven percent higher than that

0:31:09.280 --> 0:31:12.360
<v Speaker 2>number if you shave off and fifteen percent off of

0:31:12.400 --> 0:31:16.200
<v Speaker 2>the gasoline prices, and they are coming down. We got

0:31:16.200 --> 0:31:18.520
<v Speaker 2>the summer blends that we're in there during the summer,

0:31:18.560 --> 0:31:20.400
<v Speaker 2>and now that summer is over and into the fall,

0:31:20.680 --> 0:31:23.280
<v Speaker 2>those summer blends and that additives that go in there

0:31:23.440 --> 0:31:26.600
<v Speaker 2>reduce the cost of gasoline, and we start should start

0:31:26.680 --> 0:31:28.840
<v Speaker 2>seeing that at the pump. What we do have is

0:31:28.840 --> 0:31:31.160
<v Speaker 2>a little bit of maintenance that goes on this time

0:31:31.240 --> 0:31:33.440
<v Speaker 2>of the year at the end of the driving season

0:31:33.480 --> 0:31:36.360
<v Speaker 2>because the demand for gasoline is not that much, and

0:31:36.400 --> 0:31:39.720
<v Speaker 2>so they start doing their maintenance on these refineries. But

0:31:39.880 --> 0:31:43.520
<v Speaker 2>when you take into consideration that refineries in this country,

0:31:43.600 --> 0:31:45.760
<v Speaker 2>which is something that needs to be done and needs

0:31:45.760 --> 0:31:50.200
<v Speaker 2>to be done very soon, because we have not built

0:31:50.320 --> 0:31:53.760
<v Speaker 2>a new refinery in this country, a new refinery in

0:31:53.840 --> 0:31:54.960
<v Speaker 2>over fifty years.

0:31:55.240 --> 0:31:56.040
<v Speaker 1>Every one of the.

0:31:55.920 --> 0:31:59.080
<v Speaker 2>Refiners we've had refinery shut down because when they go

0:31:59.160 --> 0:32:01.240
<v Speaker 2>in to do maintenance, sort to do expansion, or to

0:32:01.320 --> 0:32:05.239
<v Speaker 2>do additions to that, then it's almost like they've been

0:32:05.280 --> 0:32:08.000
<v Speaker 2>told that they have to revamp everything and bring that

0:32:08.160 --> 0:32:11.160
<v Speaker 2>up to what the current standards would be. And so

0:32:11.520 --> 0:32:13.920
<v Speaker 2>in order to do that, it's not cost efficient to

0:32:13.960 --> 0:32:16.360
<v Speaker 2>do that. That's why a lot of this refining has

0:32:16.360 --> 0:32:19.640
<v Speaker 2>been done overseas and then import it into the United States,

0:32:19.720 --> 0:32:22.800
<v Speaker 2>which again is not a very cost effective way of

0:32:23.000 --> 0:32:27.080
<v Speaker 2>doing gasoline. And it's been this situation where for as

0:32:27.120 --> 0:32:30.160
<v Speaker 2>long as I can remember, they've been talking about ending

0:32:30.200 --> 0:32:33.120
<v Speaker 2>the internal combustion engine. We've been talking about, oh, we

0:32:33.160 --> 0:32:36.040
<v Speaker 2>need to clean the environment, we need to lower the

0:32:36.200 --> 0:32:38.760
<v Speaker 2>we need to increase the mileage standards and all this.

0:32:39.520 --> 0:32:42.240
<v Speaker 2>And yet because there's been such a pressure on trying

0:32:42.280 --> 0:32:46.600
<v Speaker 2>to kill the oil industry, they're saying, well, shoot, I mean,

0:32:46.840 --> 0:32:49.280
<v Speaker 2>we're not going to invest more money into this country.

0:32:49.320 --> 0:32:51.560
<v Speaker 1>We're not going to invest more money into refineries.

0:32:51.840 --> 0:32:54.640
<v Speaker 2>If in a five, six, seven, eight year period of time,

0:32:54.760 --> 0:32:55.800
<v Speaker 2>they're going to be shut down.

0:32:55.880 --> 0:32:57.120
<v Speaker 1>They have been pushed out.

0:32:56.920 --> 0:32:59.640
<v Speaker 2>Of the market in California, and now all of a

0:32:59.680 --> 0:33:03.600
<v Speaker 2>sudden in California, looking at their prices going up dramatically

0:33:04.080 --> 0:33:06.320
<v Speaker 2>all of a sudden, Gavin knew him as saying, well,

0:33:06.360 --> 0:33:08.440
<v Speaker 2>you know what, maybe we should reopen way, maybe we

0:33:08.480 --> 0:33:12.480
<v Speaker 2>should open refineries here. Well, if that's the case, Gavin,

0:33:12.520 --> 0:33:14.640
<v Speaker 2>why did you close them in the first place or

0:33:14.760 --> 0:33:18.720
<v Speaker 2>chase them out of the state. So our energy policy

0:33:18.760 --> 0:33:21.560
<v Speaker 2>in terms of oil refining and that needs to have

0:33:21.600 --> 0:33:24.440
<v Speaker 2>a strong look at it. And again with our oil

0:33:24.480 --> 0:33:27.280
<v Speaker 2>prices and gas prices being as high as they, well,

0:33:27.320 --> 0:33:30.200
<v Speaker 2>the oil price is coming down, the gasoline needs to

0:33:30.240 --> 0:33:33.800
<v Speaker 2>follow that. The fact that again we're thirty seven percent

0:33:33.880 --> 0:33:36.800
<v Speaker 2>higher than we were back in twenty twenty, again when

0:33:36.840 --> 0:33:39.360
<v Speaker 2>we were energy independent for the first time since nineteen

0:33:39.440 --> 0:33:41.800
<v Speaker 2>forty nine. We need to get back to the point

0:33:41.840 --> 0:33:45.240
<v Speaker 2>of where we are energy dominant to keep these prices down.

0:33:45.360 --> 0:33:49.120
<v Speaker 2>And the policies of the Trump administration have been pushing

0:33:49.440 --> 0:33:52.360
<v Speaker 2>and because we have a good relationship and he has

0:33:52.400 --> 0:33:55.120
<v Speaker 2>a good relationship with some of the members of OPEC,

0:33:55.280 --> 0:33:57.520
<v Speaker 2>as you saw the other day when he went to

0:33:57.640 --> 0:34:03.560
<v Speaker 2>Egypt after addressing the Israeli kannesse It. When the hostages

0:34:03.560 --> 0:34:07.160
<v Speaker 2>were returned, he then flew to Egypt to this conference

0:34:07.240 --> 0:34:10.879
<v Speaker 2>with the different Arab groups to in order to make

0:34:10.920 --> 0:34:14.880
<v Speaker 2>sure that they put forth a piece plan themselves. And

0:34:14.960 --> 0:34:18.279
<v Speaker 2>so with the benefits that he has there and with

0:34:18.440 --> 0:34:21.600
<v Speaker 2>the warm relationship that he has with the folks there,

0:34:22.000 --> 0:34:26.240
<v Speaker 2>Opek has been behaving themselves and keeping the energy production

0:34:26.440 --> 0:34:30.239
<v Speaker 2>up and their volumes that they're doing have increased, which

0:34:30.800 --> 0:34:34.680
<v Speaker 2>some are estimating that by next year we are going

0:34:34.719 --> 0:34:37.520
<v Speaker 2>to actually have an oil glut, which is one of

0:34:37.520 --> 0:34:40.120
<v Speaker 2>the reasons when you have a lot of supply and

0:34:40.239 --> 0:34:43.160
<v Speaker 2>demand stays the same, and if your supply goes up,

0:34:43.440 --> 0:34:46.680
<v Speaker 2>that actual cost goes down because the demand remains the same.

0:34:46.960 --> 0:34:49.520
<v Speaker 2>And that's one of the reasons why oil prices are

0:34:49.560 --> 0:34:51.840
<v Speaker 2>as low as they are, and they're trying to contain

0:34:51.920 --> 0:34:57.040
<v Speaker 2>their or maintain their dominance. Oil prices dipped on Wednesday,

0:34:57.120 --> 0:34:59.919
<v Speaker 2>holding near a five month low for the second day,

0:35:00.280 --> 0:35:04.920
<v Speaker 2>pressured by escalating US China trade tensions and the International

0:35:05.040 --> 0:35:08.840
<v Speaker 2>Energy Agency's prediction of supply surplus. In twenty twenty six,

0:35:09.280 --> 0:35:14.600
<v Speaker 2>Bank of America said Brent prices could dip below fifty

0:35:14.840 --> 0:35:19.919
<v Speaker 2>dollars a barrel if US China trade tensions intensify, while

0:35:20.000 --> 0:35:25.160
<v Speaker 2>OPEC plus production ramps up again. The Saudis and OPEC

0:35:25.239 --> 0:35:29.600
<v Speaker 2>Plus because as a favor, to let's face it, Trump

0:35:29.640 --> 0:35:34.879
<v Speaker 2>administration in Israel took out Iran's nuclear capabilities. They were

0:35:35.000 --> 0:35:37.960
<v Speaker 2>the bully of the Mid East and everybody was in

0:35:38.000 --> 0:35:42.000
<v Speaker 2>fear of them, and so they were doing certain things

0:35:42.000 --> 0:35:46.440
<v Speaker 2>that were kind of more I guess favorable to Iran.

0:35:46.960 --> 0:35:49.279
<v Speaker 2>Now that they don't have to worry about that, they

0:35:49.320 --> 0:35:53.440
<v Speaker 2>are relieved that this potential of an adversary there with

0:35:53.680 --> 0:35:56.680
<v Speaker 2>a nuke they don't have to worry about. So of

0:35:56.719 --> 0:35:59.640
<v Speaker 2>course they're going to be ramping up their production in

0:35:59.800 --> 0:36:02.760
<v Speaker 2>order to help the economy of the United States. On Tuesday,

0:36:02.840 --> 0:36:06.759
<v Speaker 2>the IEA said the global oil market could face a

0:36:06.880 --> 0:36:11.080
<v Speaker 2>surplus next year of up to four million barrels per day,

0:36:11.640 --> 0:36:15.120
<v Speaker 2>wider than the previous forecast, as OPEC Plus and others

0:36:15.400 --> 0:36:19.759
<v Speaker 2>raise output in demand remains sluggish. The trade dispute between

0:36:19.800 --> 0:36:23.520
<v Speaker 2>the world's two largest oil consumers has reignited over the

0:36:23.600 --> 0:36:27.240
<v Speaker 2>last week, with US and China imposing additional port fees

0:36:27.320 --> 0:36:31.040
<v Speaker 2>on ships carrying cargo between them. The tip for tat

0:36:31.160 --> 0:36:36.960
<v Speaker 2>moves could disrupt oil freight flows. US Traasury Secretary Scott

0:36:37.000 --> 0:36:40.520
<v Speaker 2>Besson on Wednesday insisted that Washington did not want to

0:36:40.680 --> 0:36:44.400
<v Speaker 2>escalate the trade conflict, stressing that President Donald Trump is

0:36:44.440 --> 0:36:48.759
<v Speaker 2>ready to meet with Chinese President Jizing Ping North in

0:36:48.880 --> 0:36:52.040
<v Speaker 2>South Korea later this month. That was an on again,

0:36:52.160 --> 0:36:54.399
<v Speaker 2>off again thing. Oh, we're not going to meet. Yes,

0:36:54.440 --> 0:36:56.600
<v Speaker 2>we are going to meet. The fact that they are

0:36:56.640 --> 0:36:59.480
<v Speaker 2>going to meet is a good sign. Last week, China

0:36:59.480 --> 0:37:03.200
<v Speaker 2>announced that would increase rare earth export controls and Trump

0:37:03.239 --> 0:37:07.879
<v Speaker 2>threatened to raise tariffs. Deflationary pressure persisted in China, with

0:37:07.960 --> 0:37:12.359
<v Speaker 2>both consumer and producer prices falling in September as a

0:37:12.440 --> 0:37:17.880
<v Speaker 2>prolonged property market slump and trade tensions also weighed on

0:37:17.920 --> 0:37:21.320
<v Speaker 2>their economy, and the US investors are becoming more convinced

0:37:21.320 --> 0:37:23.640
<v Speaker 2>that the Federal Reserve are going to be freeing up

0:37:23.719 --> 0:37:24.360
<v Speaker 2>interest rates.

0:37:24.800 --> 0:37:27.720
<v Speaker 1>China's economy being such.

0:37:27.560 --> 0:37:29.400
<v Speaker 2>A closed society over there, and we don't get a

0:37:29.400 --> 0:37:32.120
<v Speaker 2>whole lot of news, but the people that are close

0:37:32.200 --> 0:37:35.680
<v Speaker 2>to that and watching that their economy is not as

0:37:35.719 --> 0:37:39.359
<v Speaker 2>strong as they would like to project to the world,

0:37:39.520 --> 0:37:43.480
<v Speaker 2>and the fact that putting sanctions on Russia and China

0:37:43.520 --> 0:37:47.160
<v Speaker 2>being the largest purchaser of Russian oil. With that not

0:37:47.239 --> 0:37:50.279
<v Speaker 2>being available, they are suffering. In the past, they've been

0:37:50.320 --> 0:37:53.560
<v Speaker 2>trying to stockpile oil, which in my opinion, what they're

0:37:53.560 --> 0:37:56.359
<v Speaker 2>trying to do is stockpile oil so that they can

0:37:56.440 --> 0:38:00.800
<v Speaker 2>go on some sort of a nation building if you will,

0:38:00.920 --> 0:38:03.560
<v Speaker 2>or put pressure on some of the other countries to

0:38:04.120 --> 0:38:07.919
<v Speaker 2>Taiwan to take them over. So keeping them in check

0:38:08.040 --> 0:38:11.799
<v Speaker 2>and their economy not being as strong is and recognize

0:38:11.800 --> 0:38:14.480
<v Speaker 2>that and keep putting pressure on them will make the

0:38:14.520 --> 0:38:18.360
<v Speaker 2>world a heck of a lot safer. So again, China

0:38:18.480 --> 0:38:21.640
<v Speaker 2>is not nearly as strong economically as everybody would like

0:38:21.719 --> 0:38:23.839
<v Speaker 2>to think, and some of the pressure that's being put

0:38:23.880 --> 0:38:28.120
<v Speaker 2>on by the Trump administration is having a drastic effect

0:38:28.160 --> 0:38:31.320
<v Speaker 2>on them. Even though they are vague at and again,

0:38:31.600 --> 0:38:34.280
<v Speaker 2>they're always looking for a way of you know, because

0:38:34.320 --> 0:38:37.719
<v Speaker 2>the Oriental mind, they have to save face. So you're

0:38:37.760 --> 0:38:41.200
<v Speaker 2>constantly in a battle back and forth. But then when

0:38:41.280 --> 0:38:43.640
<v Speaker 2>you've got the upper hand, you've got to figure out

0:38:43.680 --> 0:38:47.120
<v Speaker 2>a way that they can save face and make it

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<v Speaker 2>seem as though that they decided that they were going

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<v Speaker 2>to do certain things.

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<v Speaker 1>It's kind of complicated, but.

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<v Speaker 2>I have more confidence in Steve Bessen and Donald Trump.

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<v Speaker 1>Than I do Jijingping well, folks.

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<v Speaker 2>As a fresh stay tuned for ATI radio Top the Hour,

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<v Speaker 2>I'm Kevin Gordon. America struck a network seven hundred WLW