00:00
Welcome to the program on a beautiful Monday afternoon boy. I'll tell you what It's gorgeous out there today. Like kind of warm gonna get a little colder this weekend though We'll keep you updated on that. Well as you slept overnight you woke up this morning and probably Saw what was going on with gas prices. They have really really gone up gas hit
00:26
I believe overnight about oil hit overnight about $120 a barrel. And then it kind of leveled off, if you will, to about $106 a barrel. Now, the sweet spot on this, I was talking to somebody today and they said, we need to get oil down to about $55 a barrel. And I was like, yeah, that's not a good thing. Now it sounds good at the pump. $55 barrel gas, that sounds like a great thing.
00:55
But for the oil industry, that is not a good thing because that's the point where they stop all of the exploration. They stop looking for new sources and that leads to other problems. So the sweet spot is right around 60 to $65 a barrel. That's where we want it. That means we are saving enough at the pump to where it's not affecting our lives all that much. And the oil companies,
01:25
they now have the money that they need to go do the exploration. Okay, so there is a sweet spot there, but it went up to $120 a barrel last night. And then, like I said, it came down to $106. I will tell you a little bit of a reason why for that coming up in just a few minutes. well, might as well go ahead and tell you now. President Trump not very happy about Israel bombing these oil depots over in Iran.
01:56
Trump didn't want the oil touched. In fact, there was supposed to be a summit between the United States and Israel and Donald Trump said, yeah, we're not talking. I'm not talking to you right now. I'm miffed. I've got a midterm elections coming up and I've got gas prices over $3 a gallon again. That is not what I wanted. So apparently Israel took it upon themselves to bomb these depots and
02:22
That was just an absolute, it was unbelievable to see some of that video over the weekend. But just looking around here locally at some of the best gas prices around, Sam's Club, $2.95, Red Star, up in Marietta, $2.96, the BP on Cedar Lane Road, $2.97, the Costco, $2.99 at Costco, the BP, $2.99.
02:50
Harry's quick shop 299 X and that's seeming to be in the Greenville area about what it is 299 now if we go over to do do do do do just go over to um Go back here and check. I'm looking at gas buddy right now To try to find some of these gas prices. But anyway, we know and the president knows That none of this looks good for the midterm
03:20
Now they were talking about six to eight more weeks or they were talking about six more weeks of this war going on. There was a poll that came out not long ago that said if this war goes for longer than eight weeks, Donald Trump and the Republicans are going to absolutely sink in the polls. If he can pull this thing off in less than eight weeks, then he gets a huge bump from the American people in the polling.
03:48
A lot of people don't understand how all of this works. This bump in gas prices, a lot of people think that the United States is running out of oil and that's just not the way it is. The US is currently, and this is hard to believe, but the US is currently the largest oil producer in the world. Now, everything that's going on is economic.
04:13
20 % of the world's oil normally passes through the Strait of Hormuz, 20%. And when that route is disrupted during a conflict, global markets, they automatically react. Now, oil is priced globally. So even when we produce our own energy, a global supply shock, that'll push prices up everywhere. Then buyers around the world, they start competing for alternative supplies of oil, including American-produced oil.
04:43
which actually drives prices a little bit higher. Now remember, markets always react first and then they stabilize. The nature of the market is to overreact to everything. Everything they overreact. And sometimes that's good and sometimes it's bad.
05:09
So once these shipping routes reopen and the situation settles in the coming days or maybe even weeks, energy markets are going to go back to normalizing again. This is short-term volatility and ultimately long-term energy security.
05:26
And that's how the global markets work. don't, you know, when these people start, you know, panicking at all the panicants out there and everybody starts talking and you're going to see it. um Just, just hold on. Is it hard? Yes, it's hard. Absolutely. When you got to go fill that car up.
05:48
and it's costing you tens, $20 more to fill. Yeah, that takes a chunk out of your pocket. But we are still not at the level of where it was during the Biden administration, and that's a good thing, even though the Democrats are going to get out there, they're going to see it, they're going to be talking about, oh, look at Trump. Anyway, Charlie, how happy are the Democrats right about now when America's surfer, when Americans suffer, they're giddy.
06:15
as a baron honey here you're right about that they really are um
06:21
Charlie 88 Muslim clerics were able to get together and vote while Israel spent its resources bombing a facility instead of on the heads. get it Charlie. I live in central. The cheapest around here is six mile 279 a gallon Charlie inman fast. Fast stop 282 328 in Brevard Charlie. I got up early to fill before the prices went up say 42 cent a gallon in Columbia. What do they say the early bird gets the worm?
06:49
Apparently, they also get the good gas prices. So let me ask you a question. When is a terror attack not a terror attack? When the mainstream media reports on it. We'll have that next. It's the Charlie James Show, News Talk 98.9, WORD, the voice of the Carolinas.
Mar 09, 2026
