Speaker 1: Bloomberg Audio Studios, Podcasts, radio news, single best idea.
Speaker 2: What a great set of conversations today to start out.
Speaker 2: And the team is working around the clock and we're
Speaker 2: tweaking and we're trying to be polite. There's so many guests,
Speaker 2: particularly given the war, that we have to cancel and
Speaker 2: we always have them back. But you know, there's a
Speaker 2: ballet to it and all that, and this was just
Speaker 2: a wonderful Monday. Strong Francisco Blanche was able to stop
Speaker 2: buy in studio. He drives all of commodity coverage at
Speaker 2: Bank of America. Is a wonderful European perspective. But he
Speaker 2: really focused on the Pacific rim and around India as
Speaker 2: being where you are going to see this war effect.
Speaker 2: He was optimistic on America.
Speaker 3: The US is going to be the last mans. Then
Speaker 3: that's true, right, that's so true. America is a net
Speaker 3: energy explorer. Uh Now, there's going to be certain portions
Speaker 3: of the US public that are not gonna that are
Speaker 3: not going to have a great time as prices go up.
Speaker 3: I get that, particularly if you're the bottom pointile, bottom
Speaker 3: quartal of the of the income ladder. This this is
Speaker 3: a crisis that's really impacting your pocket and I you know,
Speaker 3: I feel for those people. But but but I think,
Speaker 3: I think ultimately as a country, America makes money when
Speaker 3: energy prices go up, and and I think what you
Speaker 3: might have to think about is some way of redistribution.
Speaker 3: One way is to suspend the federal excise tax, which
Speaker 3: as you know, has been on another discussion. But there's
Speaker 3: all the things that can be done pretty effectively to
Speaker 3: to cushion to limit the impact of higher energy prices
Speaker 3: on lower income households.
Speaker 2: Francisco Blanche of the Bank of America for those of
Speaker 2: you internationally, New York is transfixed by another strike. We
Speaker 2: have a whole set of transportation. Paul Sweeney very very
Speaker 2: familiar with New Jersey Transit, which goes out to the
Speaker 2: west and of course is affected with FIFA in the
Speaker 2: World Cup and all that up north. Ted fin who
Speaker 2: helps me on television always on Metro north up to
Speaker 2: Connecticut and the Hudson River. But out east is the
Speaker 2: oddest railroad in the world. We say it is long Island,
Speaker 2: and no one understands how long long island is. It
Speaker 2: is ae hundred and two miles from Penn Station to
Speaker 2: East Hampton. It's extraordinary. This peace of land that hangs
Speaker 2: off New York. Their transportation is broken. We spoke today
Speaker 2: to the head of the MTA about the l R strike,
Speaker 2: Jena Lieber Tom.
Speaker 4: We have eighty separate bargaining units. We have eighty separate
Speaker 4: unions in effect to negotiate with. It is really a
Speaker 4: complicated labor environment and there are differences among them. But
Speaker 4: generally speaking, we do what we call pattern bargaining. We
Speaker 4: make a deal with the biggest union and then the
Speaker 4: others have to fit their deals within the economic box
Speaker 4: that that creates. This group of unions wants to go
Speaker 4: outside the box to get us a special deal, and
Speaker 4: that is the source of the tension and the conflicts
Speaker 4: so far. But as I said, we're trying to resolve it.
Speaker 4: Chop chop right now.
Speaker 2: Nicely explain and of course this revolution work from home
Speaker 2: assisting everyone. Today we had one of our guests that
Speaker 2: came to us from her home because of the strike.
Speaker 2: We're never on strike. And of course the podcast here,
Speaker 2: it's out on Spotify, it's out on Apple, on YouTube podcasts.
Speaker 2: This is single best idea