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Speaker 1: Good afternoon and getting right down the business here. We're

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Speaker 1: doing it live, doing more at four weekday afternoons, right

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Speaker 1: after the Guy Benson Show and just before the seven

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Speaker 1: ninety KBC News Blitz with Randy Wang Motech on Money

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Speaker 1: Live on the air seven ninety KBC streaming live online

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Speaker 1: worldwide KBC dot com, and you're on demand Motackle Money

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Speaker 1: Podcast KBC dot com on Apple, iTunes, YouTube, Spotify, all

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Speaker 1: your favorite podcast platforms. Big rally on Wall Street today.

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Speaker 1: It started to build just about twenty four hours ago,

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Speaker 1: as you first heard here on the air, President Trump

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Speaker 1: saying you agreed to suspend attacks on Iran for two

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Speaker 1: weeks subject to the immediate reopening of these trade of

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Speaker 1: horror moves in the Persian Gulf, the price of oil

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Speaker 1: plunged and stock futures moved higher. Today, stocks rallied and

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Speaker 1: oil prices did pull back as the two week ceasefire

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Speaker 1: deal with Iran kicked in. Renfrew moving thirteen percent lower

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Speaker 1: to trade under ninety five dollars for a while, but

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Speaker 1: looks like it's jumped again here now. The stock market rallied,

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Speaker 1: with the doubt closing up by thirteen hundred twenty five points.

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Speaker 1: The S and P five hundred of one to sixty

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Speaker 1: six in the Nasdaq popped six hundred and seventeen points.

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Speaker 1: Golden Bitcoin also moved higher, oil prices posting their biggest

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Speaker 1: one day percentage, dropping almost six years today after the

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Speaker 1: US and Iran agreed to a two week ceasefire, but

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Speaker 1: US and Global benchmark crewed ended above their session lows

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Speaker 1: as Iran maintained control over the Strait of Horror Moves. Meanwhile,

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Speaker 1: Iran has reportedly accused Israel of breaking the ceasefire deal

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Speaker 1: with a tax on Lebanon. As a result, Iran's A

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Speaker 1: news agency said today the passage of oil tankers through

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Speaker 1: the Straight of Horror moves has been halted. White House

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Speaker 1: Press Secretary Carolyn Levitt meanwhile said reports that Iran had

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Speaker 1: shut down the strait were false. The Associated Press reports

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Speaker 1: the ceasefire deal, the pause of the war and Iran

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Speaker 1: appeared to hang by a thread, with Iran's foreign minister

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Speaker 1: insisting that an end to the war in Lebanon was

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Speaker 1: part of the seasfire deal with the US. President Trump

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Speaker 1: and the Israeli Prime Minister said the trews did not

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Speaker 1: cover Lebanon, where has blas been launching missiles into Israel,

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Speaker 1: and Israeli forces launch strikes on has Belt targets. Following

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Speaker 1: all these developments closely is the Honorable Doctor Sharona Asarian,

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Speaker 1: the mayor of Beverly Hills, who is currently the first

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Speaker 1: Persian American Jewish woman the serve as mayor of any

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Speaker 1: city in the United States. Mayor Sharona Asarian will be

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Speaker 1: joining me live later this hour. Also, we'll be speaking

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Speaker 1: about what's happening with the gas prices these days, with

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Speaker 1: diesel once again at an all time high here in

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Speaker 1: the Los Angeles area. Seven eighty six a gallon is

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Speaker 1: the average price for diesel according to today's Triple A

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Speaker 1: fuel Gate survey, regular gas going for six TOZHO five

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Speaker 1: on average, and premium now at six point forty three,

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Speaker 1: both of those, by the way, still about fifty cents

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Speaker 1: a gallon below the record highs we saw back in

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Speaker 1: twenty twenty two. There's renewed interest in electric vehicles in

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Speaker 1: all this, and a Chinese electric truck maker made its

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Speaker 1: first delivery here in the United States today. We'll get

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Speaker 1: an update on all that later this hour with Lauren Fins,

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Speaker 1: co hosts of the Drive Car Show syndicated radio program,

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Speaker 1: as well as the founder of Car Coach Reports on YouTube.

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Speaker 1: But first on your Money, the Mark, It's the economy,

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Speaker 1: the big market rally today and the whole works. Joining

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Speaker 1: us live now is Paul Didrich, chief investment strategist at

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Speaker 1: web Bush Securities, which happens to be headquartered right here

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Speaker 1: in southern California. Paul, thank you very much for taking

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Speaker 1: the call on this big day here today. Thank you

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Speaker 1: wonderful to have you with us at take it from

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Speaker 1: the top. It's been an epic twenty four hours or so.

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Speaker 1: Give us your view of what just happened here.

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Speaker 2: Well, I hope everyone had a happy Taco Tuesday last night.

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Speaker 2: The taco trade is very very strong at the moment.

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Speaker 2: What happens is that we've seen this over and over again.

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Speaker 2: It's part of President Trump's playbook is that he ratchets

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Speaker 2: up his rhetoric to maximalist demands, and once he finds

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Speaker 2: someone who basically just keeps saying no, so then he

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Speaker 2: finds way to cave in and go in a different direction.

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Speaker 2: And we've seen that over and over again. We saw

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Speaker 2: it with China and tariffs. We saw it when Europe

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Speaker 2: said no to Greenland, and now with Iran saying no,

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Speaker 2: they weren't gonna, they weren't gonna, you know, bow to

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Speaker 2: his demands. And so that's that's kind of where we were.

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Speaker 2: And we saw today because this was so serious, We

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Speaker 2: saw this massive relief rally, but there was no resolution

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Speaker 2: in this rally. People were completely investing on feelings but

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Speaker 2: certainly not facts, and that's part of the problem. Even

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Speaker 2: if the war were to end tomorrow, which it's not

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Speaker 2: gonna do that, but even if if it ends, if

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Speaker 2: it were to end, and we would have free passage

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Speaker 2: of all these ships, we're talking about at least in

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Speaker 2: my talking with analysts who study this in the Gulf,

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Speaker 2: that it's going to take at least a month for

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Speaker 2: oil to get back and for people to start seeing,

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Speaker 2: you know, kind of real decreases in their gas prices

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Speaker 2: because it's going to go to the refineries and it's

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Speaker 2: going to go through the systems with diesel. They're talking

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Speaker 2: about two to three months before we'll see any relief

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Speaker 2: on this. And because Iran it actually destroyed about twenty

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Speaker 2: percent of some of the largest natural gas facilities in

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Speaker 2: the Gulf, they're talking about five to seven years before

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Speaker 2: they can get that twenty percent back up and running,

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Speaker 2: and that's going to affect costs, going to affect earnings.

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Speaker 2: And because a lot of helium and chips are related

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Speaker 2: to natural gas, we're going to see increases in all

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Speaker 2: of those areas. Jet fuel, they're saying, is going to

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Speaker 2: take six months to get back to normal, to a

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Speaker 2: more normality in that area. And fertilizer much of the

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Speaker 2: world is going to miss this planting season and that's

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Speaker 2: going to affect food cost you over the next six months.

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Speaker 1: They're alive with Paul Dietrich, chief market strategist at web

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Speaker 1: Bush Securities. You raise an important point to right out

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Speaker 1: of the gate, and I see a market Watch has

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Speaker 1: done write up on this, how the so called taco

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Speaker 1: trade went from a lighthearted Wall Street joke to a

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Speaker 1: serious moneymaker. Since the start of the President's second term,

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Speaker 1: nine of the ten tom days with the S and

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Speaker 1: P five hundred have been spurred largely by de escalation

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Speaker 1: either involving tariffs or Iran. Where do we go from here,

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Speaker 1: as far as the market's concerned, A pretty decent rally

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Speaker 1: today here and looks so we've got two weeks cease

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Speaker 1: fire here unless something else happens. Right, Paul, what do

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Speaker 1: you see ahead for this market now?

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Speaker 2: Well, you know, if you talk about it two weeks

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Speaker 2: and then it will You know, it took eighteen months

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Speaker 2: for the US and the Obama administration to negotiate the

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Speaker 2: agreement they had on nuclear materials in the nuclear program.

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Speaker 2: This isn't going to be resolved in two weeks. And

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Speaker 2: what will probably happen is we'll push it off another

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Speaker 2: two weeks, in another two weeks, and another two weeks.

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Speaker 2: But the problem with this is is that you know,

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Speaker 2: over the next two to four weeks, we probably will

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Speaker 2: be able to clear out all the shipments in the

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Speaker 2: Persian Gulf, get them through the straits of our MOUs,

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Speaker 2: and get them off to wherever they're going to sell

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Speaker 2: their oil. But what I'm hearing from insurance companies and

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Speaker 2: big shipping companies right now is who's going to who's

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Speaker 2: going to let their billion dollar ships that are not

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Speaker 2: in the Persian Gulf now go back into these go

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Speaker 2: through the straits of her moves, get trapped in the

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Speaker 2: Persian Gulf and possibly, you know, be held hostage for

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Speaker 2: another war. The insurance companies have ratcheted up their insurance

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Speaker 2: to the point where it just doesn't make any sense

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Speaker 2: to lose a billion dollar ship. And so so long

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Speaker 2: as this thing, this is not resolved, and it's not

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Speaker 2: resolvable in two weeks, there's not a single analyst, geopolitical

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Speaker 2: or anyone who believes that this could be signed up

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Speaker 2: and negotiated within two weeks. But no one's going to

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Speaker 2: send their big ships in to get caught and trapped

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Speaker 2: in the Persian golf. If there's the possibility of Israel

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Speaker 2: and the United States going back, and also of Iran

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Speaker 2: shutting off the Persian Golf again, that is going to

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Speaker 2: have a huge impact on oil prices and gasoline prices,

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Speaker 2: and we're going to go right back up again. And

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Speaker 2: so I wouldn't get used to thinking that you're going

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Speaker 2: to see any relief in any of these issues, in

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Speaker 2: any of these areas, And purely for that reason, nothing

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Speaker 2: looks positive.

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Speaker 1: We also got the notes from the FANS last big

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Speaker 1: policy setting meeting today, with the FED policy makers split

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Speaker 1: over whether the war with the Iron would hurt the

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Speaker 1: job market or boost inflation, but more we're concerned about

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Speaker 1: the outlook for jobs. According to the notes from that

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Speaker 1: Federal Reserve March policy meeting that came out today. But

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Speaker 1: as we've noted here, diesel at a record high here

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Speaker 1: at the moment in the Los Angeles area is seven

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Speaker 1: eighty six and one of the one of the world's

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Speaker 1: largest economies here in the Los Angeles area. And then

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Speaker 1: we got regular gas at six oh five on average

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Speaker 1: here in the LA area. Premium now at six forty three.

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Speaker 1: What's the outlook on the inflation picture here and what

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Speaker 1: do you think the Fed's next move will be. Given

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Speaker 1: the cards on the.

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Speaker 2: Table, I think the next move will probably be they

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Speaker 2: will do nothing, but because they keep saying, and I

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Speaker 2: think rightfully so, that they need to see how this

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Speaker 2: is going to play out. You know, we've only been

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Speaker 2: in a war for six weeks and we need the

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Speaker 2: economy needs more time. But we're already seeing the impact

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Speaker 2: what people are having to pay. It's enormous in gasoline,

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Speaker 2: but in diesel. Diesel is what transports everything in America,

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Speaker 2: all your food, all your goods to your big box stores.

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Speaker 2: All of that that's all going to have to result

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Speaker 2: in increases in costs. There will be at least a

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Speaker 2: short term inflationary hit to this and if it continues,

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Speaker 2: and the analysts are now saying if it continues past April,

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Speaker 2: the end of April high high oil and gas and

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Speaker 2: diesel prices, that that will be long term inflationary. And

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Speaker 2: what people are having to do now is that they're

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Speaker 2: having to cut back on all their others spending to

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Speaker 2: buy gasoline and to pay for the increases at the

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Speaker 2: grocery stores that are being passed on to them for

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Speaker 2: their diesel transportation. And also we're seeing it in airfares

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Speaker 2: with the jet fuel just skyrocketing. All of these things,

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Speaker 2: people have to cut back somewhere else. And once that's done,

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Speaker 2: if they are buying fewer goods, it's going to increase unemployment.

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Speaker 2: That's the canary and the coal mine. You have to

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Speaker 2: watch that because as that increases, that's historically where you

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Speaker 2: after the unemployment, you really start seeing retail sales coming down.

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Speaker 2: That's seventy percent of the US economy, and then we

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Speaker 2: go into a severe bear market.

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Speaker 1: I've heard a number of financial commentators compare what's happening

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Speaker 1: now to what happened on the eve of the First

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Speaker 1: Persian Gulf War back in the January of nineteen ninety one,

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Speaker 1: when the dell, by the way, was around twenty five hundred. Here,

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Speaker 1: it's close to forty eight thousand here at the moment. Historically,

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Speaker 1: I know you've been around a while doing this for

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Speaker 1: a long time, but does it feel like that to

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Speaker 1: you at the moment.

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Speaker 2: Yeah, I mean I remember nineteen ninety one. I was

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Speaker 2: managing money during that period of time, and it was

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Speaker 2: it was quite a shock. Now in that case, basically

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Speaker 2: Saudi Arabia and the Gulf countries were basically shutting down

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Speaker 2: their oil production and not sending it out. In this case,

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Speaker 2: it's just simply not getting to us because of this

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Speaker 2: war with Iran. But we're looking at the exact same effects.

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Speaker 2: And in fact, I was looking today at what happened

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Speaker 2: to prices, what happened to diesel and transportation costs, and

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Speaker 2: were they passed on to the consumer? You bet they were.

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Speaker 1: On You're Live with Paul Dietrich at webbush At this point,

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Speaker 1: let me ask you the big question, you're any specific

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Speaker 1: places where you are putting money now and or taking

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Speaker 1: off the table.

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Speaker 2: I think right now is, you know, investors, we just

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Speaker 2: don't know what's going to happen. You know, wars geopolitical events.

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Speaker 2: These are the things that you can't really easily look

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Speaker 2: back on and say, I know exactly what's going to happen.

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Speaker 2: But you know, part of the problem here is that,

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Speaker 2: and I think this would be helpful for most investors

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Speaker 2: to understand, is that we've been fighting two wars over

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Speaker 2: the last six weeks. There has been the conventional war

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Speaker 2: of Israel and the United States, where they've come in

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Speaker 2: and they there's no question that if bombing targets and

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Speaker 2: destroying targets is your measurement of winning, that the US

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Speaker 2: and Israel have won. In the conventional war, we are winning.

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Speaker 2: But in the asymmetric unconventional war, guerrilla warfare, that's really

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Speaker 2: one of the most important areas to watch because they

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Speaker 2: often win in the end. I mean, you know, you

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Speaker 2: look at Afghanistan. We didn't think we'd be there twenty years,

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Speaker 2: but you know, we hailed it out during President Biden's period,

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Speaker 2: and it was embarrassing to see the US military being

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Speaker 2: forced out by the people that we supposedly were trying

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Speaker 2: to defeat for twenty years and they're in power today.

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Speaker 2: Same things true in Vietnam, and if you look back

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Speaker 2: at history from the Romans to certainly all the great

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Speaker 2: colonial powers of the eighteenth to nineteenth century from Britain, Spain, Portugal, France.

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Speaker 2: You know, in the end they lost all their colonies

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Speaker 2: and they lost them because of asymmetric, unconventional guerrilla warfare.

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Speaker 2: And historically, you know, there isn't a lot of positive

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Speaker 2: takeaways that you can find, and I think we're in

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Speaker 2: that situation today so long as we are not willing

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Speaker 2: boots on the ground, and according to analysts, we'd have

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Speaker 2: to take about four hundred square miles around in Iranian

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Speaker 2: territory in order to make sure that we would be

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Speaker 2: able to control the straits of our MOUs and we

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Speaker 2: would have to maintain that for a long period of time,

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Speaker 2: which I don't think President Trump or the American people

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Speaker 2: it would be another forever war that we have. And

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Speaker 2: so it's not It looks unresolvable to most of the

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Speaker 2: analysts if we're not willing, and according to military analysts,

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Speaker 2: we could easily take the straits of our moves. It

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Speaker 2: would just take thirty five forty thousand troops and then

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Speaker 2: a lot of troops to maintain it for years. And

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Speaker 2: that's where we are.

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Speaker 1: Well, thank you very very much for that thorough conversation

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Speaker 1: here on all this today on a big day, and

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Speaker 1: we'll look forward to us speaking with again very very soon.

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Speaker 1: That is Paul Dietrich, chief investment strategist at web Bood Securities,

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Speaker 1: headquartered right here in southern California. Paul, thank you very

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Speaker 1: much for joining us live here this afternoon.

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Speaker 2: Thank you.

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Speaker 1: Seven ninety KBC, Motackle money continue, seven ninety KABC. The

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Speaker 1: price of oil as as big as one day drops

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Speaker 1: since twenty twenty on the US Iran ceasefire deal that

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Speaker 1: moved the needle on Wall Street today, the now closing

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Speaker 1: up thirteen hundred twenty five points, settling in forty seven

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Speaker 1: thousand and nine ten, The SMP five hundred of one

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Speaker 1: sixty six at sixty seven hundred eighty three, and the

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Speaker 1: NASDAC gained six hundred and seventeen points back to twenty

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Speaker 1: two thousand and six thirty five. The yield and the

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Speaker 1: tenure note down four point three zero percent. The volatility

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Speaker 1: Index plunged today by eighteen percent. The price of gold

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Speaker 1: meanwhile at the moment down about thirty dollars at forty

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Speaker 1: seven hundred and forty six and change silver at seventy

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Speaker 1: three eighty three announce the price of oil in New

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Speaker 1: York at ninety six fifty one barrel in London. Looks

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Speaker 1: like brentfrewd in London as a pullback about thirteen percent

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Speaker 1: today to ninety four in change. We're watching the oil

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Speaker 1: prices plunging today after the US and Iran agree to

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Speaker 1: a two week sease fire that allows safe passage through

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Speaker 1: the Strait of Horror moves. But the fragile deal is

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Speaker 1: not led to a breakthrough in tanker traffic so far,

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Speaker 1: according to those watching what's happening there in the trade

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Speaker 1: of horror moves. The President said the two week seas

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Speaker 1: fire was subject to Iran agreeing to a complete, immediate

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Speaker 1: and safe opening of the Strait of horror moos. You

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Speaker 1: has received a ten point proposal from Iran that is

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Speaker 1: a workable basis for negotiations, he said. Watching these developments closely.

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Speaker 1: Bitcoin and all this a rally today right now, hovering

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Speaker 1: it around seventy one thousand and four to sixty two

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Speaker 1: ethereum back above twenty two hundred to twenty two oh six.

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Speaker 1: Doze at the moment at nine cents. Motangle money continues

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Speaker 1: here seven ninety KABC following the latest news coming out

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Speaker 1: of the Middle East. Also following all these developments closely

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Speaker 1: is the Honorable doctor Sharon and Issarian, the mayor of

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Speaker 1: Beverly Hills, who is currently the first Persian American Jewish

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Speaker 1: woman to serve as mayor of any city in the

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Speaker 1: United States, originally from Iran, celebrating the American dream. Here Meyri,

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Speaker 1: It's an honor to have you with us live here

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Speaker 1: on MOTECH on Money this afternoon.

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Speaker 3: Thank you so much for the opportunity of Frank. I'm

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Speaker 3: honored to be.

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Speaker 1: With you, wonderful to have you with us, give us

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Speaker 1: thoughts on the epic developments focused on Iran today and

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Speaker 1: indeed in recent weeks.

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Speaker 3: Well. I think that it's deeply personal and it resonates

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Speaker 3: deeply with me. I come from Iran, I'm an immigrant,

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Speaker 3: and I'm proud to be living the American dream in

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Speaker 3: the United States. We have many Iranian residents in the

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Speaker 3: city of Beverly Hills, and they're deeply impacted by what

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Speaker 3: is going on, whether they have family there or they

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Speaker 3: still have strong cultural ties. And I think that what

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Speaker 3: this really boils down to is basic fundamental human rights

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Speaker 3: dignity and freedom for the people of Iran, and it

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Speaker 3: would create a safer region and ultimately a safer world.

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Speaker 3: At the same time, I recognize that foreign policy decisions

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Speaker 3: are made at the federal level and ultimately the future

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Speaker 3: of Iran will be determined, we believe by the Iranian

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Speaker 3: people themselves, and as a local elected official, my role

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Speaker 3: is different. What I can say is that I stand

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Speaker 3: for peace, I stand for human rights, and I stand

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Speaker 3: with the people of Iran who deserve the opportunity to

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Speaker 3: live freely without fear.

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Speaker 1: On the air with the honorable doctor Sharon and the

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Speaker 1: Zeri and the Mayor of Beverly Hills and a Mahra

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Speaker 1: on the future of Iran. What is the mood currently

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Speaker 1: and what are the hopes at this point, your own

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Speaker 1: hopes and the others you're hearing from the city's large

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Speaker 1: Persian American community in Beverly Hills.

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Speaker 3: Yeah, so, not only in Beverly Hills, but also the

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Speaker 3: surrounding area. There is a very large Persian American community,

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Speaker 3: and the mood is mixed. From what I hear, people

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Speaker 3: are very hopeful, They're hopeful to see a free Iran,

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Speaker 3: but there's also deep concern and anxiety, especially given the

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Speaker 3: ongoing human rights violations by the Islamic regime that really

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Speaker 3: oftentimes cannot be trusted. And what is uniting everyone through

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Speaker 3: is very clear, and that's the desire to see freedom

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Speaker 3: for the people of Iran. And you know, the Iranian

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Speaker 3: people are family oriented, they're hospitable, they're full of culture

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Speaker 3: and pride. They deserve to live in a society where

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Speaker 3: their rights are respected and their voices are heard. So

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Speaker 3: the emotions are complex, and the goal is simple and unified.

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Speaker 1: And Mayor certainly Beverly Hills has stood with Israel following

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Speaker 1: the horrific October seventh attack of Beverly Hills, I understand,

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Speaker 1: is creating the first memorial, permanent memorial of its kind

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Speaker 1: in the world, a prominent public monument dedicated to October seventh,

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Speaker 1: and tell us more about that. Have additional details that

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Speaker 1: been released about that.

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Speaker 3: Yeah, so this is something that the council voted on

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Speaker 3: to create a permanent memorial site dedicated to the victims

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Speaker 3: of October seventh. There were victims from thirty different nationalities

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Speaker 3: that were impacted during that horrific day. Really, this is

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Speaker 3: going to be a space to not only have solace.

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Speaker 3: Many people in our community were directly impact did They

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Speaker 3: had family members there, they had children there, and this

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Speaker 3: is going to be a space where people can have

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Speaker 3: solace but also be able to educate and learn so

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Speaker 3: that such atrocities never happen again to any race, religion,

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Speaker 3: or cultural background. That's really our goal to be able

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Speaker 3: to unify our community and ultimately we pray for peace.

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Speaker 1: And there certainly was a majestic display of flags, primarily

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Speaker 1: Israeli flags, but indeed, as you mentioned, many nationalities, including

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Speaker 1: a US flags part of that memorial that was there

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Speaker 1: at the beautiful Beverly Hills Park there for quite some time.

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Speaker 1: And that's wonderful that a public, permanent monument will be

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Speaker 1: dedicated to the memory of what happened on October seventh. Also,

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Speaker 1: congratulations Marah on your leadership in Beverly Hills, and that

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Speaker 1: has included a tremendous business outreach. You're speaking of the

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Speaker 1: business audience here now and also overseeing the immense construction

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Speaker 1: site next to the iconic Beverly Hilton and Waldorf Astoria.

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Speaker 1: Can you tell us more about that big project. It's

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Speaker 1: absolutely awesome. As you drive by there, you can catch

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Speaker 1: a glimpse of what's happening. I understand it is the

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Speaker 1: most significant and the most expensive construction project in the

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Speaker 1: United States at the moment.

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Speaker 3: That's exactly right. I think if you think it's awesome

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Speaker 3: now when it's just barely a hole in the ground,

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Speaker 3: you will be very pleasantly surprised when the project is

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Speaker 3: comes to completion. It's the one Beverly Hills project. It's magnificent,

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Speaker 3: it's a transformative project. It's one of the most significant

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Speaker 3: construction projects, not just in our city, but the entire country.

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Speaker 3: I would say from recent reports, they just completed their funding,

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Speaker 3: which is a major milestone, and it reflects strong confidence

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Speaker 3: in the city of Beverly Hills as a global destination,

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Speaker 3: as a business destination. I always like to say that

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Speaker 3: Beverly Hills is booming. We are seeing major luxury brands

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Speaker 3: investing heavily in our city. On Rodeo Drive, we continue

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Speaker 3: to see flagship stores and retail brands from some of

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Speaker 3: the most recognized names in the world. And it's really

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Speaker 3: exciting because it really talks about the confidence that the

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Speaker 3: community has in Beverly Hills.

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Speaker 1: That's wonderful. And I see the name Amanda is on

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Speaker 1: the side of that construction site. That's the very famous

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Speaker 1: luxury hotel brand. I understand that's going to be a

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Speaker 1: six star hotel that's going up there next to the

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Speaker 1: Waldorf in Beverly Hilton.

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Speaker 3: That's right, that's going to be the Aman Hotel, which

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Speaker 3: will be ready they're projecting for the Olympics twenty twenty eight,

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Speaker 3: and we're really looking forward to it, and think that

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Speaker 3: when you look at that Rodeo Drive is looking forward

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Speaker 3: to it as well. We have many significant investments in

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Speaker 3: that street, including LVMH making significant investments for their flagship store,

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Speaker 3: which is also going to be a Frank Gary development.

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Speaker 3: I think it's one of his last designs for his legacy,

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Speaker 3: and developments like one Beverly Hills are not just about construction.

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Speaker 3: They're about economic growth, job creation, global vitality, and continuing

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Speaker 3: to really position Beverly Hills as a world leader in

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Speaker 3: luxury innovation and experience. So we're very excited about all

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Speaker 3: of these incredible projects coming to Beverly Hills.

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Speaker 1: That's amazing. I know you have a great feel for

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Speaker 1: the economy since Beverly Hills has the prestigious Golden Triangle

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Speaker 1: business district, which as you mentioned includes Rodeo Drive. What

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Speaker 1: are you hearing from the Chamber of Commerce, Tom Johnson,

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Speaker 1: that great group and all the business folks there. How

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Speaker 1: is business and how's the economy doing? From your vantage.

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Speaker 3: Point right, So, I think that there are slight economic

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Speaker 3: challenges that many cities are facing. Certainly had to adjust

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Speaker 3: and pivot, But from an economic standpoint, I do think

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Speaker 3: the Beverly Hills is incredibly strong. Right now. The Golden Triangle,

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Speaker 3: with Rodeo Drive at its heart, continues to thrive. It

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Speaker 3: serves as a global symbol of luxury, retail and business excellence.

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Speaker 3: We are seeing significant investments from major brands, continued development,

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Speaker 3: and strong consumer activity. One of the clearest indicators of

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Speaker 3: our strength is our retail vacancy rate, which is currently

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Speaker 3: at just about six percent in the Business Triangle and

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Speaker 3: zero percent, yes you heard me right, zero percent on

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Speaker 3: Rodeo Drive. So that is exceptionally low and speaks to

434
00:27:43,440 --> 00:27:47,240
Speaker 3: the high demand for doing business in Beverly Hills. And

435
00:27:48,119 --> 00:27:51,439
Speaker 3: from my vantage point, the economy is resilient, vibrant, and

436
00:27:51,560 --> 00:27:55,160
Speaker 3: it's still growing. Businesses want to be here, Investors are

437
00:27:55,200 --> 00:27:59,200
Speaker 3: confident in our future, and we're continuing to build an

438
00:27:59,280 --> 00:28:04,439
Speaker 3: environment where commerce and community can both succeed. I just

439
00:28:04,480 --> 00:28:08,120
Speaker 3: did a new initiative that was called Spotlight with Sharona,

440
00:28:08,600 --> 00:28:11,240
Speaker 3: and that was when I saw that we were looking

441
00:28:11,280 --> 00:28:16,240
Speaker 3: towards some budgetary constraints, and it was to shed light

442
00:28:16,280 --> 00:28:19,359
Speaker 3: on the wonderful businesses in various parts of town. Because

443
00:28:19,359 --> 00:28:22,520
Speaker 3: when our businesses succeed, it helps us to generate the

444
00:28:22,560 --> 00:28:27,280
Speaker 3: revenue that we need to support our security and safety

445
00:28:27,320 --> 00:28:30,680
Speaker 3: projects as well as our infrastructure, and in turn support

446
00:28:30,720 --> 00:28:32,679
Speaker 3: the quality of life for our residents.

447
00:28:32,960 --> 00:28:35,760
Speaker 1: That's wonderful. It was a beautiful Easter holiday weekend, the

448
00:28:35,920 --> 00:28:39,000
Speaker 1: passover about to wrap up, and a passover SATA was

449
00:28:39,000 --> 00:28:41,640
Speaker 1: celebrated at Spago and Beverly Hills, where you delivered the

450
00:28:41,720 --> 00:28:45,760
Speaker 1: keynote speech with many business people and prominent philanthropists, including

451
00:28:45,800 --> 00:28:49,080
Speaker 1: Barbara Lazarova in the audience who organized that sat What

452
00:28:49,160 --> 00:28:51,320
Speaker 1: was your message to that wonderful.

453
00:28:50,960 --> 00:28:53,200
Speaker 3: Gathering there, Well, thank you so much for that. Yes,

454
00:28:53,280 --> 00:28:55,880
Speaker 3: my mayor ole theme for this year is unity, and

455
00:28:55,920 --> 00:28:58,280
Speaker 3: that's really what I wanted to focus on. We're living

456
00:28:58,280 --> 00:29:00,960
Speaker 3: in a time where there's so much divide in the world,

457
00:29:01,000 --> 00:29:03,800
Speaker 3: and I feel that as leaders, it's our goal, and

458
00:29:03,840 --> 00:29:06,960
Speaker 3: it's my goal to bridge those differences. I believe that

459
00:29:07,040 --> 00:29:10,560
Speaker 3: we are stronger when we come together as one, regardless

460
00:29:10,600 --> 00:29:14,880
Speaker 3: of race, religion, cultural background. And you know, Beverly Hills

461
00:29:14,960 --> 00:29:19,120
Speaker 3: is a rich tapestry of people from different faiths and backgrounds,

462
00:29:19,480 --> 00:29:22,400
Speaker 3: and that evening was a beautiful reflection of that. We

463
00:29:22,520 --> 00:29:27,720
Speaker 3: had business leaders, philanthropists, community members all coming together. Barbara

464
00:29:27,800 --> 00:29:31,840
Speaker 3: does a fantastic job at the iconic location of Spago,

465
00:29:32,400 --> 00:29:35,840
Speaker 3: and we literally broke bread or should I say breaking

466
00:29:35,920 --> 00:29:41,000
Speaker 3: matsa with one another, sharing traditions and stories. So it

467
00:29:41,040 --> 00:29:44,080
Speaker 3: was a beautiful moment and I was really proud to

468
00:29:44,120 --> 00:29:47,400
Speaker 3: be a part of it, bringing our community together and

469
00:29:48,400 --> 00:29:52,680
Speaker 3: moving forward as a stronger, more unified community.

470
00:29:52,960 --> 00:29:54,840
Speaker 1: That's wonderful. Mart well At We wish you, having passed

471
00:29:54,920 --> 00:29:57,680
Speaker 1: over in an entire community, all the very best and

472
00:29:57,760 --> 00:30:01,200
Speaker 1: our thoughts certainly with the people of Iran in Israel

473
00:30:01,280 --> 00:30:03,800
Speaker 1: and along with you. Mayor, Thank you very very much

474
00:30:04,000 --> 00:30:05,960
Speaker 1: for taking the call live with this here this afternoon.

475
00:30:06,400 --> 00:30:09,760
Speaker 3: Thank you so much, Thank you for the opportunity wonderful.

476
00:30:09,320 --> 00:30:11,680
Speaker 1: To speak with you. That is the honorable Sharon on Misarian,

477
00:30:11,760 --> 00:30:13,880
Speaker 1: the Mayor of Beverly Hills, live with us here on

478
00:30:14,000 --> 00:30:17,120
Speaker 1: Motech on Money on seven ninety KBC. Motach on Money

479
00:30:17,120 --> 00:30:21,600
Speaker 1: continues seven ninety KBC. Good afternoon. The FED split over

480
00:30:21,640 --> 00:30:23,720
Speaker 1: whether the war where Iran would hurt the US job

481
00:30:23,760 --> 00:30:26,800
Speaker 1: market or boost inflation. Certainly its nervous time at the

482
00:30:26,840 --> 00:30:29,560
Speaker 1: gas pumps, as we've been talking about, as the price

483
00:30:29,560 --> 00:30:32,200
Speaker 1: of oil spiked and then pulled back. Today on this

484
00:30:32,200 --> 00:30:35,400
Speaker 1: two week ceasefire deal that's been worked out with the

485
00:30:35,480 --> 00:30:39,320
Speaker 1: US and Iran, looks like seven eighty six is now

486
00:30:39,360 --> 00:30:41,760
Speaker 1: the average price for diesel in the Los Angeles area.

487
00:30:41,840 --> 00:30:44,880
Speaker 1: That is an all time high self serve regular gas

488
00:30:44,960 --> 00:30:47,040
Speaker 1: averaging six to oh five and the La Long Beach

489
00:30:47,120 --> 00:30:50,120
Speaker 1: Harry and premium at six forty three, both still about

490
00:30:50,160 --> 00:30:52,640
Speaker 1: fifty cents below the all time highs we saw back

491
00:30:52,680 --> 00:30:56,760
Speaker 1: in twenty twenty two. There is renewed interest in electric vehicles,

492
00:30:56,800 --> 00:31:00,360
Speaker 1: and all this in a Chinese electric truck maker making

493
00:31:00,400 --> 00:31:03,520
Speaker 1: its first delivery in the United States. Today, let's bring

494
00:31:03,560 --> 00:31:05,800
Speaker 1: in Lauren fix Now or Go to Car Expert, co

495
00:31:05,880 --> 00:31:08,920
Speaker 1: host the Drive Car Show syndicated radio program as well

496
00:31:08,960 --> 00:31:12,240
Speaker 1: as the founder of car Coach Reports on YouTube. Lauren,

497
00:31:12,280 --> 00:31:14,560
Speaker 1: thank you very much for taking the call. Here this afternoon.

498
00:31:15,560 --> 00:31:17,440
Speaker 4: Well thanks for having me back. Yeah, a lot going

499
00:31:17,480 --> 00:31:21,640
Speaker 4: on in the world of cars, as far as Chinese vehicles.

500
00:31:22,120 --> 00:31:24,720
Speaker 4: While it seems like something everyone will wants, thinking, wow,

501
00:31:24,760 --> 00:31:26,560
Speaker 4: you can get a new electric car or even a

502
00:31:26,640 --> 00:31:30,160
Speaker 4: gas Bard Cark, they do make those as well, there's

503
00:31:30,240 --> 00:31:33,480
Speaker 4: actually a push because Chinese vehicles are a threat to

504
00:31:33,520 --> 00:31:37,120
Speaker 4: the US this who's been cars, parts and software. Now,

505
00:31:37,200 --> 00:31:39,640
Speaker 4: if you think the debate is over Chinese vehicles and

506
00:31:39,680 --> 00:31:42,800
Speaker 4: how cheap they are, you're actually missing the bigger story

507
00:31:43,120 --> 00:31:46,320
Speaker 4: because one of the policymakers, Senator Bernie Marino of Ohio,

508
00:31:47,360 --> 00:31:50,640
Speaker 4: said that they're no longer willing to ignore this because

509
00:31:50,680 --> 00:31:53,560
Speaker 4: what it does is it destroys our industry when you

510
00:31:53,640 --> 00:31:56,160
Speaker 4: come in at a very low price with the full

511
00:31:56,200 --> 00:31:59,920
Speaker 4: intention of destroying your competitors because you're being supplemented by

512
00:32:00,040 --> 00:32:03,440
Speaker 4: you by your government in this case China. What it

513
00:32:03,480 --> 00:32:06,160
Speaker 4: does although for consumers you think this is great. You know,

514
00:32:06,200 --> 00:32:08,480
Speaker 4: I get a low priced car, but we don't know

515
00:32:08,520 --> 00:32:12,240
Speaker 4: about reliability. We don't know about quality, because no one's

516
00:32:12,280 --> 00:32:14,560
Speaker 4: had them long enough to say what they do and

517
00:32:14,680 --> 00:32:17,040
Speaker 4: don't do. We do know there has been a few

518
00:32:17,320 --> 00:32:19,920
Speaker 4: situations where cars have been in accidents in other countries

519
00:32:19,920 --> 00:32:21,920
Speaker 4: where the door handles don't come out because they're smooth,

520
00:32:21,960 --> 00:32:25,320
Speaker 4: they go in flat. That's really concerning for firefighters and

521
00:32:25,360 --> 00:32:27,400
Speaker 4: first responders who can't get you out of the vehicle.

522
00:32:28,720 --> 00:32:32,240
Speaker 4: That's been a huge problem. And actually China is addressing

523
00:32:32,240 --> 00:32:34,479
Speaker 4: that by the country thing. You can no longer produce

524
00:32:34,520 --> 00:32:37,440
Speaker 4: cars with flush handles, So if they're having that problem,

525
00:32:37,440 --> 00:32:40,000
Speaker 4: we don't have that problem here. It seems to be

526
00:32:40,160 --> 00:32:44,320
Speaker 4: vehicles coming from China, which again cutting foreigners, and much

527
00:32:44,400 --> 00:32:47,400
Speaker 4: like when you buy something made in China versus something

528
00:32:47,400 --> 00:32:49,840
Speaker 4: made here in the US, you can definitely tell the

529
00:32:49,840 --> 00:32:52,560
Speaker 4: difference in quality. So while it all sounds great on

530
00:32:52,600 --> 00:32:54,880
Speaker 4: the surface, it's great to have them in here to

531
00:32:54,920 --> 00:32:57,040
Speaker 4: see what they're building, and that many times that's what

532
00:32:57,120 --> 00:32:59,400
Speaker 4: happens when't like this vehicle you're talking about, it gets

533
00:32:59,440 --> 00:33:03,240
Speaker 4: delivered to the all become manufacturers heavens, so they know

534
00:33:03,320 --> 00:33:06,640
Speaker 4: what they're up against. And I think that's also really important,

535
00:33:06,840 --> 00:33:09,000
Speaker 4: so that you know what's good and what's not good.

536
00:33:09,400 --> 00:33:12,840
Speaker 4: And if Bernie Marino's law goes through, there'll be no

537
00:33:12,960 --> 00:33:15,320
Speaker 4: Chinese car parts, which are never good. They don't hold

538
00:33:15,360 --> 00:33:17,959
Speaker 4: up well on your older vehicles. Chinese cars will not

539
00:33:18,000 --> 00:33:20,120
Speaker 4: come in here, nor will we be allowed to cross

540
00:33:20,120 --> 00:33:22,480
Speaker 4: the border from Canada into the US. Those forty nine

541
00:33:22,520 --> 00:33:25,640
Speaker 4: thousand Chinese cars and none of the software. Because all

542
00:33:25,720 --> 00:33:29,640
Speaker 4: of that software collects data of everything, your home, what's

543
00:33:29,640 --> 00:33:32,440
Speaker 4: in your home, everything, and it sends it all to China.

544
00:33:32,880 --> 00:33:33,760
Speaker 4: That's a problem.

545
00:33:34,000 --> 00:33:34,240
Speaker 2: Wow.

546
00:33:34,440 --> 00:33:37,480
Speaker 1: Lauren Fix live with us here, and the Reuters News

547
00:33:37,480 --> 00:33:41,400
Speaker 1: service reports the Chinese electric truck startup wind Rows that's

548
00:33:41,440 --> 00:33:43,280
Speaker 1: the name of the company, said it had made the

549
00:33:43,280 --> 00:33:46,200
Speaker 1: first delivery of its long haul electric heavy truck here

550
00:33:46,240 --> 00:33:48,520
Speaker 1: in the US, marking a key step in his global

551
00:33:48,560 --> 00:33:51,720
Speaker 1: expansion of This vehicle, priced nearly three hundred thousand, by

552
00:33:51,800 --> 00:33:54,960
Speaker 1: the way, was handed over to a taxas logistics firm

553
00:33:55,000 --> 00:33:59,200
Speaker 1: and a charging partner through wind Roses American partner earlier

554
00:33:59,240 --> 00:34:03,760
Speaker 1: this month. And looks like this big trucks. It's hard

555
00:34:03,920 --> 00:34:07,640
Speaker 1: hard to miss this. I'm sure you notice it right away, right,

556
00:34:08,200 --> 00:34:09,000
Speaker 1: very unusual looking.

557
00:34:09,080 --> 00:34:10,799
Speaker 4: Yes, what do you think of this? But so it's

558
00:34:10,800 --> 00:34:16,040
Speaker 4: the cyber truck, the cyber tructor trailer. I would be

559
00:34:16,160 --> 00:34:18,400
Speaker 4: concerned if I was the driver, just not knowing the

560
00:34:18,480 --> 00:34:21,200
Speaker 4: data that's being collected. Everyone connects their phone to their car,

561
00:34:21,600 --> 00:34:24,560
Speaker 4: so we literally take everything off your phone immediately. I've

562
00:34:24,600 --> 00:34:27,160
Speaker 4: been in a lot of Chinese cars where you know,

563
00:34:27,360 --> 00:34:29,480
Speaker 4: typically you have to sink your phone, you put in

564
00:34:29,520 --> 00:34:32,560
Speaker 4: your four digit code and the car matches it. This

565
00:34:32,600 --> 00:34:36,359
Speaker 4: does it automatically, and that's concerning because that means you're

566
00:34:36,360 --> 00:34:39,360
Speaker 4: absorbing all your information. You don't get like that. You know,

567
00:34:39,440 --> 00:34:42,080
Speaker 4: don't take my banking information. So I would be a

568
00:34:42,120 --> 00:34:46,359
Speaker 4: little concerned from that perspective. But to be realistic about it,

569
00:34:47,160 --> 00:34:49,000
Speaker 4: wind Rose is trying to get a piece of the

570
00:34:49,040 --> 00:34:52,160
Speaker 4: pie because the number one electric truck right now, believe

571
00:34:52,200 --> 00:34:53,719
Speaker 4: it or not, and you don't hear much about it,

572
00:34:53,760 --> 00:34:57,040
Speaker 4: is Tesla, but their cyber truck is not selling well.

573
00:34:57,280 --> 00:35:00,719
Speaker 4: Their tractor trailer has had good results. And also from

574
00:35:00,760 --> 00:35:03,279
Speaker 4: the Port of Long Beach, there's been a lot of

575
00:35:03,320 --> 00:35:07,000
Speaker 4: interesting technology going there from Toyota. They're taking hydrogen, which

576
00:35:07,000 --> 00:35:10,040
Speaker 4: is actually taking methane from us a junk yard that's

577
00:35:10,040 --> 00:35:13,000
Speaker 4: next door from a dump, turning it into hydrogen, and

578
00:35:13,040 --> 00:35:15,000
Speaker 4: they're pumping it into the cars so they can use

579
00:35:15,040 --> 00:35:18,800
Speaker 4: electric vehicles from the port to the warehouse back and forth.

580
00:35:19,040 --> 00:35:21,360
Speaker 4: And that's been a big success for Toyota.

581
00:35:22,000 --> 00:35:26,439
Speaker 1: That's interesting hydrogen. It was said already many years ago

582
00:35:26,480 --> 00:35:29,120
Speaker 1: that the hydrogen is the fuel of the future and

583
00:35:29,160 --> 00:35:32,600
Speaker 1: will always be. Is that the case, or is there

584
00:35:32,760 --> 00:35:36,759
Speaker 1: is there a future for hydrogen in practical use here?

585
00:35:38,239 --> 00:35:40,960
Speaker 4: Actually there is a practical use. It's mostly for trucks.

586
00:35:41,160 --> 00:35:43,320
Speaker 4: The best way is how do you charge an electric

587
00:35:43,320 --> 00:35:46,480
Speaker 4: car quickly? Well, going through what Funday has been working

588
00:35:46,600 --> 00:35:49,000
Speaker 4: and putting Ton money into as well as BMW into it.

589
00:35:49,120 --> 00:35:52,560
Speaker 4: They've been investing millions of dollars into it, and what

590
00:35:52,600 --> 00:35:55,440
Speaker 4: they're finding is if they can use hydrogen to charge

591
00:35:55,480 --> 00:35:57,919
Speaker 4: the electric battery, so much like you would put gas

592
00:35:57,960 --> 00:35:59,839
Speaker 4: in the tank of a gasoline card car, you could

593
00:35:59,840 --> 00:36:02,760
Speaker 4: put hydrogen into a tank that would be the electric

594
00:36:02,800 --> 00:36:06,640
Speaker 4: power for the batteries. It's really interesting technology. We're far

595
00:36:06,680 --> 00:36:08,799
Speaker 4: from ready for prime time, but we are seeing. The

596
00:36:08,840 --> 00:36:12,440
Speaker 4: best case used for is with trektor trailers because when

597
00:36:12,440 --> 00:36:15,879
Speaker 4: you're going from the docks to the warehousing back, you've

598
00:36:15,920 --> 00:36:18,480
Speaker 4: got a controlled distance you can fill up as needed.

599
00:36:19,120 --> 00:36:20,680
Speaker 4: It's not like you and I are driving down the

600
00:36:20,680 --> 00:36:21,840
Speaker 4: street and we need to fill up and you go

601
00:36:21,880 --> 00:36:23,719
Speaker 4: to your local gas station. You're not going to see

602
00:36:23,760 --> 00:36:26,800
Speaker 4: that type of infrastructure because much like that of electric.

603
00:36:26,960 --> 00:36:28,800
Speaker 4: If there isn't a charging station or there isn't a

604
00:36:28,840 --> 00:36:31,719
Speaker 4: charging station available, then you're without, and that would be

605
00:36:31,719 --> 00:36:34,080
Speaker 4: the case with hydrogen. There're just is such a limited area.

606
00:36:34,400 --> 00:36:35,960
Speaker 4: I know they've done a lot of testing in the

607
00:36:36,120 --> 00:36:40,759
Speaker 4: LA area from Sunday from Honda and didn't sell as

608
00:36:40,760 --> 00:36:42,880
Speaker 4: well as they thought would. But it is a great

609
00:36:42,920 --> 00:36:43,960
Speaker 4: answer to the problem.

610
00:36:44,880 --> 00:36:47,479
Speaker 1: On They're Live with Lauren Fakes and our first guest

611
00:36:47,880 --> 00:36:50,279
Speaker 1: laid it on pretty thick today on the outlook for

612
00:36:51,320 --> 00:36:55,120
Speaker 1: energy prices, these pump prices, especially diesel now seven eighty

613
00:36:55,160 --> 00:36:57,480
Speaker 1: six I center if you heard me earlier say that,

614
00:36:57,560 --> 00:36:59,480
Speaker 1: but it's a record high here at in the Los

615
00:36:59,520 --> 00:37:03,239
Speaker 1: Angeles area. At what point do you think there will

616
00:37:03,239 --> 00:37:06,040
Speaker 1: be even more interest in electric and when does it

617
00:37:06,120 --> 00:37:09,640
Speaker 1: make sense based on your experience to go electric in

618
00:37:09,640 --> 00:37:12,600
Speaker 1: the face of these higher gas prices to.

619
00:37:12,600 --> 00:37:15,359
Speaker 4: Make a break even. And again it's based on your

620
00:37:15,440 --> 00:37:18,880
Speaker 4: electric costs. So where I live in New York, it

621
00:37:18,920 --> 00:37:21,239
Speaker 4: doesn't make sense. Even with the higher gas prices. It

622
00:37:21,239 --> 00:37:23,319
Speaker 4: would have to be over eight dollars a gallon for

623
00:37:23,360 --> 00:37:25,520
Speaker 4: it to even start to make sense. Because your insurance

624
00:37:25,560 --> 00:37:27,800
Speaker 4: rates are higher. You have to have a place to charge.

625
00:37:27,840 --> 00:37:29,440
Speaker 4: If you charge at home, you have to buy the

626
00:37:29,520 --> 00:37:32,839
Speaker 4: charge your head installed by a certified electrician number. If

627
00:37:32,880 --> 00:37:35,080
Speaker 4: you do decide to go that route, that's great, it's

628
00:37:35,120 --> 00:37:38,200
Speaker 4: your choice. But make sure you let your homeowner's insurance

629
00:37:38,239 --> 00:37:39,920
Speaker 4: know because if you don't, any have a problem. And

630
00:37:39,960 --> 00:37:42,279
Speaker 4: we have quite a few cases across the country that

631
00:37:42,360 --> 00:37:44,520
Speaker 4: I'm well aware of. I'm sure there's even more or

632
00:37:44,719 --> 00:37:47,839
Speaker 4: there's been fires and the insurance company will not pay out.

633
00:37:47,920 --> 00:37:50,440
Speaker 4: They'll only pay out eighty percent of your home because

634
00:37:50,840 --> 00:37:53,240
Speaker 4: just like putting an addition on your home, it's considered

635
00:37:53,239 --> 00:37:55,680
Speaker 4: an addition when you put a charging station into your home.

636
00:37:55,719 --> 00:37:57,960
Speaker 4: So make sure you're aware of that. If you've got

637
00:37:57,960 --> 00:37:59,880
Speaker 4: a charger in nearby, maybe you don't need to do that,

638
00:38:00,080 --> 00:38:02,319
Speaker 4: or maybe there's one at work that might work for you,

639
00:38:02,360 --> 00:38:05,120
Speaker 4: especially if you're going short distances. That's where it's really

640
00:38:05,160 --> 00:38:07,439
Speaker 4: a benefit. If you're looking for your one and only

641
00:38:07,520 --> 00:38:08,880
Speaker 4: car and you're going to keep it for three to

642
00:38:08,920 --> 00:38:11,880
Speaker 4: five years, I would say keep what you have for now,

643
00:38:12,160 --> 00:38:13,680
Speaker 4: and let's give this a couple of weeks. We're going

644
00:38:13,719 --> 00:38:15,560
Speaker 4: to find out what's going on. Remember that when they

645
00:38:15,840 --> 00:38:19,239
Speaker 4: price out gasolinge how it's calculated is when the tank

646
00:38:19,280 --> 00:38:21,879
Speaker 4: that's near you, whatever gas station you're going to, when

647
00:38:21,880 --> 00:38:23,759
Speaker 4: that tank is empty, they have to refill it. What

648
00:38:23,800 --> 00:38:26,520
Speaker 4: does that cost? And that's how they price gasoling. So

649
00:38:26,520 --> 00:38:29,600
Speaker 4: if you're seeing it at six dollars, it's because the

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00:38:29,640 --> 00:38:31,960
Speaker 4: distributor is getting it at a higher price. They're not

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00:38:32,040 --> 00:38:34,840
Speaker 4: making the prices. It's where they're getting their fuel from.

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00:38:35,160 --> 00:38:38,200
Speaker 4: So right now looks like that if this two week

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00:38:40,320 --> 00:38:43,520
Speaker 4: fire agreement goes through, then I think what's going to

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00:38:43,560 --> 00:38:45,640
Speaker 4: end up happening on the backset is gasoline prices will

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00:38:45,719 --> 00:38:47,640
Speaker 4: drop because we only get three percent of our fuel

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00:38:48,120 --> 00:38:50,839
Speaker 4: from the Middle East. That's it, three percent. The rest

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00:38:50,880 --> 00:38:53,759
Speaker 4: of it comes from here, so it's obviously on a

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00:38:53,760 --> 00:38:57,319
Speaker 4: global scale. Keep in mind that prices will drop. And

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00:38:57,320 --> 00:39:00,560
Speaker 4: also President Trump is talking about removing the federal If

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00:39:00,600 --> 00:39:05,080
Speaker 4: he removes the federal excise text, that would lower guess prices,

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00:39:05,160 --> 00:39:07,799
Speaker 4: especially in California. But you do have a very high

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00:39:07,840 --> 00:39:11,240
Speaker 4: state tax. Remember that elections do matter because the people

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00:39:11,239 --> 00:39:14,279
Speaker 4: that you elected into office are the ones that increased

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00:39:14,520 --> 00:39:18,560
Speaker 4: your state and county taxes. And i'm gasoline because they

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00:39:18,600 --> 00:39:21,320
Speaker 4: realized as you go electric, there's now also a fee,

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00:39:21,760 --> 00:39:23,880
Speaker 4: is a by the mile tax, and there's also a

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00:39:23,920 --> 00:39:25,000
Speaker 4: fee to register your car.

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Speaker 1: Lauren Fakes, co host of The Drive Show syndicated radio

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Speaker 1: program and the founder of car Coach Reports on YouTube.

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Speaker 1: Great job as always, Lauren, Thank you for joining us.

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Speaker 1: Seven ninety kbs eight