Trump Speech Causes Oil Price Spike

Certainly the price of gas, the price of oil, which is the major contributor to the price of gas, affects us here at home. So let’s talk about it. Look, there are some things Donald Trump has done well as president. We’ve talked about them. I think the border. I think the security of the country, great. He’s really messed this thing with Iran up. And he needs to stop talking. He needs to stop. Every time he opens his mouth, he seems to make it worse. NBC News had a big article about his speech last night, and television stations covered it. All jumped overnight by about 8%. That press address to the nation that Trump did yesterday caused oil to jump overnight about 8%. Obviously it isn’t direct. It doesn’t mean just because oil goes up, gas is immediately going to go up. I filled up this morning. I got gas for 3.75. Do what you want to do. But oil went up overnight 8%. So what happened. Well, he said last night. And I saw a lot of people comment about this, including big Trump supporters. They got done and said that’s it, that’s all he had to say. What did he tell us we didn’t already know. And the answer is nothing. He made it worse though, because anytime the president speaks, the market reacts. Sometimes well, sometimes not so well. And Trump sometimes just speaks to hear himself speak. Oh, I can stop network television, let me do that. It’s not to say what’s going on in Iran is not important. It’s vitally important. But I don’t understand yesterday what that was all about, because I don’t think there was any breaking news or anything that we didn’t already know. And the things he did say had a negative impact on at least the oil market. We’ll see what happens with the stock market today. Trump said yesterday that the US is going to hit Iran extremely hard over the next 2 to 3 weeks. We already knew that. He said the war won’t last long, and discussions with Tehran are ongoing. Okay, we already knew they were talking with Tehran again, so we learned nothing. We’ve heard wars won’t last long before. Remember mission accomplished in Iraq. Nobody believes the politicians when they say things anymore, including Donald Trump, especially when it involves US involvement in the Middle East. NBC talked to a guy by the name of Giles Alston. He’s a political risk analyst at Oxford Analytica. And here’s what he said. It’s becoming increasingly clear that the US position on what you do to get your oil out of and through the Strait of Hormuz is now something which Washington has largely washed its hands off. This is now something for those who take the oil through the strait to sort out for themselves. The Strait of Hormuz is not opening anytime soon. It’s not. The war with Iran is not ending unless Trump just says we’re done anytime soon. We’re not getting any sort of victory in terms of toppling the regime. That is not happening. And Trump and his administration have done a terrible job of explaining what’s in it for us. Simply saying hang on, future generations, how, why, what is happening with Iran right now that ensures us that people who love the United States are going to do business with us, who are going to be good stewards, good citizens of the world, and not sponsoring international terrorism, which Iran is arguably the largest state sponsor of terrorism. What assurances? What do you have in place? Look at what happened to Venezuela. You got rid of Maduro. Great. Who’s in charge. Maduro’s number two. It’s still pretty much business as usual over there. Look what happened with Iraq. You took out Saddam Hussein. No threat to the United States, but a bad guy. Who took over. Insane, crazy people, terrorists. We have a track record of taking out bad guys and then what. Do you guys remember back to the very first episode we did of the Rob Kendall show? By the way, it’s one month. Can you believe it. We’ve been together for one month. Thank you to each and every one of you who’s been a part of this show with us, who has helped us grow the show and get the word out. We can’t thank you enough, and we need you to help us continue to grow the show. But remember, the first segment we did was about the military strikes on Iran. Trump is going to have to define victory. He’s going to have to define success. Especially with military action, you have to let the public know here’s when we believe we’ve succeeded. Trump is horrible at the sale after whatever he does. Look at the big, beautiful bill. Have you seen him doing the usual, going across the country, talking with mayors and business owners, doing roundtables. You don’t see that. He almost never does the sale afterwards because he’s on to the next thing. You can’t do that. You have to sell. And in this case there has been no clear definition from the beginning about what success actually is. What does it look like. When are we done. What do we get out of it. All we’re getting right now is higher costs. It cost me $37 to fill up my tank this morning. I was basically empty. It’s normally about $27, so I’m paying ten more dollars a week just to drive to work. And I’ve got about the lowest level of automobile you can possibly have, 35 to 40 miles to the gallon. It’s basically a golf cart. No power locks, no power windows. I’m at the bare minimum, and it’s still $37 to fill up my tank. I can’t imagine what that’s like for you guys with trucks or larger tanks burning a whole bunch of fuel. I can drive for a week on a ten gallon tank. I’ll make it. But that extra $10 a week adds up. Over 52 weeks, that’s $520 this year. The war in Iran would cost me that. Not worth it to me, because Trump’s not laying out what I’m getting out of it. And it doesn’t make you selfish or unpatriotic to ask, as an American taxpayer and citizen, what’s in it for me. Trump is not making that case. And every time he talks, there are negative occurrences, especially with the war and with gas. Living is already getting very unaffordable for a lot of people. Living is already tough, and these spikes in gas prices are just making it worse.