they all take the foreign billionaire and they put them together. they say to put those 2 together, we don't see any inflation. while this worked for about 20 years and people were fooled by this, and anyone who complained was considered to be anti american wealth. now, because of the mis allocation of breast for so long in the ricochet and boomerang a verse coming back into the system, we now have catastrophic system failure. ah ah think is them, but when business you can't afford to miss, i make you love it. and i'm brenda bore in washington coming up oil prices hit 3

year highs early on thursday, but the prediction of a mild winter that's brought them down straight ahead. we'll take another look at the global energy crisis and what factors are playing a role and you type and we take you back to china wherever granted. seeing it doc figure it as indebted giant continued to threaten the can agent to world market. we'll discuss then, can we see a social media platform from former president trump? later on, we'll discuss the prospect and how the stock market is reacting so far. we have the pac show today to, let's get started. we leave the program with the latest on the global energy crisis . early thursday. oil futures hit 3 year highs with the international benchmark. brent crude reaching about the $86.00 per barrel mark while us west texas intermediate side about $83.00 per barrel. but as concerns as the fast approaching cold weather months push energy prices higher amid the crunch, there was

a reprieve. after the national oceanic and atmospheric administration released data showing winter in the united states is expected to be warmer than average, causing oil features to dip by at least $2.00 per barrel on both major brett benchmarks. meanwhile, saudi arabia's finance minister told cnbc that the ongoing energy crisis could get quote, even worse if climate policy is being enacted by government are not measured, the finance minister for opec's defacto leader told the network wednesday, quote, if we are not careful about what we're doing to achieve our targets, we may end up having a very serious energy crisis, like what we are seeing now, and could be even worse in the future. you did add that caveat that acting climate policies is an important step moving forward. so what does this mean as we see nation throughout the globe, including the united states, pledging to move off of fossil fuels and towards renewable? joining us now discuss is tobin dio of transformative research. now tobin,

i want to start with that last point here. you wrote about what effect the climate policies are having on the energy crisis. give our audience review on that. well, again, this is, this is sort of supply and demand. and how do you move the supply of, of non hydrocarbon renewable energy to could replace the 80 percent of hydrocarbon energy is what powers the world. and remember, you have various different countries all doing somewhat different things. maybe perhaps lead by germany to both, but use germany as an example. they essentially eliminate all their nuclear power, which is about 30 percent of their power. and the idea was they were going to replace that with natural gas and with wind power, so on. and so forth. well, they're not close to doing that. number one. and number 2, that natural gas had to go somewhere. and it went to china, it stayed in russia, it went to other country. so now that we got to a point where we had

a big winter last year, and now those natural gas reserves are significantly below what they, where they should be. now retros saying, hey, you know, we're supposed to, we're the bad guys. we have another pipeline that's ready to go, but you guys are letting us do it. so there's 2 politics here. there's weather related. and then there's the idea that you can't just go from 0 to 80 percent and renewables in years. it's going to be decades, and there was no room at the margin for error. and now we have a crisis because this was a completely disorganized at the beginning. it's like one crisis after another. it feels like, especially over the last year. now we have heard from the white house that they called for opec plus to release more production on the market. but when it comes to oil production in the united states with the u. s. being a net export of oil does more drilling and production state side actually help side . it's why it's new. well,

more would remember the bite ministration on day one of the presence of his presidency. cancel the keystone pipeline, the largest pipeline ever constructed that would bring massive amounts of oil and financial gas down from canada. and he said, cancelled it. then a week later, that canceled drilling permits both in alaska, etc, which by the way, alaska, in russia are basically the same type of geology. they cancel that and that my favorite, what it was that they cancel putting petroleum reserves into the national petroleum reserve of alaska. so if you want to look at one of the culprits here and there's many, but one certainly is a bite administration. and obviously they sort of bend over backwards to their sort of woke. you know, we're going to come by our world of the progressives. but the progressive don't have a plan other than get rid of all hydrocarbon, they don't have a way to, to finance that they don't have a way to make this happen. but now we're finding out that you just can't pretend

that you know that the winds gonna blow, by the way, and norway in the u. k. 25 percent of their energy come from the well guess what? the winds not blowing this year. we don't have any reserved here. we don't have any room for a margin of air, and that's when it's part of it is a big part of the united states is small. and i and i want to point out on boom bus . we've talked to analysts from across all spectrum and in reality, those who are in favor of renewables versus who you know, who want to keep, drill, baby drilling. but the fact is, everybody is kind of on the same board like yeah, this is great, but we're not ready for. yeah, we don't have the infrastructure there. i want to talk jobs up that know that you were, you were actually kind of mentioned there, because you all talk about banks blending to energy producers for the most part globally. we've seen banks back off financing the fossil fuel industry. amid all of these pushes for renewables. so what exactly is happening there, and does it make the crisis much worse? well, it, this is the funny or unfortunate part of this is that, you know,

i know you went to school brand. you know, the idea is if you lend somebody $50.00 and it cost $100.00 to take the oil out of the ground, they're losing money. and what happened in the frack boom is there is literally trillions of dollars that went in. and unfortunately, it wound up costing about $50.00 to find that, that oil and that natural gas but, but, but oil was selling for $35.00 and natural gas is selling for $2.00 a 1000 b 2 years or 1000000 bts. so it was not economic, and finally the banks stopped and the bond market stopped in the united states. and what happened is, is now, particularly in the public companies, the public companies, instead of going out and say, hey, if they do dollar oil. so let's drill baby grill what they're saying is, let's pay up all that debt. we ran up and the banks are saying, great, the stock market is rewarding. the company is not for drilling, but if they were rewarded with the companies for paying down their debt shocking, like, and they're increasing their dividends and buybacks. so, in a capital world,

the owners of capital and the shareholders are going to do its best for the shareholders. and right now that's to not drill. and also let's forget, we have liquid look by natural gas, l n g. we're exporting all of that. it used to be like $3.00 a 1000000 bts. it's now $12.00. they said to ship out of the ocean, whoever makes a bid on it buys and right now that's china. so we have an international global energy world, and united states is in the camper, but we're no longer financing, responsible drilling and, you know, that's, that's a good thing. we have a far mortgage. remember that didn't work out too well. as we've always heard that old adage of the cure for high prices is high prices. we'll see if that really plays out in the circumstance and helping smith of transformative research. thank you so much for your time today. great to be here, man. and more. fall out in the china ever grand saga shares and one of the world's most indebted companies dropped another 12 percent after

a $2600000000.00 asset sale fell through every brand with intox earlier this month to sell part of its services unit to hobson. it's smaller rival, however hops and, and now it's late wednesday that talks fell through to purchase a 50 point one percent stake in ever grand property services. so will this mean for a company that could create contagion throughout the market if it is to fail? well, joining us now to discuss or to host an investigative journalist, won i loc, tabio, moran, the ceo of openness. i'll see, ben, let's start with you here. how much of an impact would the failure of the deal have on ever grand was going to have a big effect on ever granted them. the simple reason for that is because ever grant is trying to liquidate and get rid of some of these assets to raise the money it needs in order to not default. so for instance, this deal with hobson, it was supposed to help out with this 30 day grace period, that every grant is under the they were supposed to make an $83000000.00 interest payment by saturday. if they don't have the 83000000 others to make that payment,

they will technically default. and so they're trying to find money anywhere they can. they're also, by the way, a selling their $1500000000.00 stake in a bank. and so what we see happening with every grant right now is a fire sell if you will, of a lot of their assets just trying to get things in order. but a lot of their strategy doesn't really make sense because on one hand they're doing that. on the other hand, they're saying, well, we're invested heavily in electric vehicles. these evie vehicles and we're going to see those get to market in the next few months. and so they're, they're trying to divest of some of these assets, but at the same time trying to push forward on others, you know, the term is too big to fail, right. and i think what we're seeing in china right now is a lack of appetite for companies that are so heavily involved in so many different industries. who then leverage themselves to the extent ever grain has. this is a problem of their own making use. you came in here in the lead up saying they're one of the most indebted companies in the world. that's it. that is a fact. what do you do with a company like that?

well, they're either going to have to break themselves up and sell assets, or they're going to fail in october. oh, to ben's point there, at this point, it still appears that beijing isn't going to interfere with intervene. and that, that phrase, too big to fail doesn't apply here. is that how you see it? i'm not sure. i mean, i think in the past the, the people's bank of china's always intervened and, and bail these kinds of institutions are just a couple months ago we saw them by let me know was asset manager sort of bank. the collect, open on to pass from banks of the call, supposed to take it. so, basing is always bail things out when they start to look like the risk. yes, on the threat and the system i expect will do this again, this time. so the movie is talking tough and the set fail. maybe some of the foreign bond co olds wants to take a cut on their investment on the loan that they've given to. rather than go out to fail, right, flattens back. they don't want that to happen. there for the contagion, so they willing to be, so i'm going to take lot on actually beijing into being some state and baiting this

thing out. and certainly, everyone's waiting to see exactly what i'll do. now, are tabio staying with you. let's shift over to inflation a little bit we heard from i taught better reserve official warning that extended high inflation through next spring could force the central bank to consider raising interest rate sooner than expected. is that a good idea? especially with all of the supply issues the country is currently facing well, how the times the change i can remember just a month or so ago they were saying this is going to be transitory where it's going to go away. and now it's going to go until next spring. so i think that 2 point distinct issues and 2 separate problems. one is sort of the inflation caused by monetary injections in the system, this enormous expansion. the honestly, i'm just my, i've been expanded and so yeah, that's currently 2 places, almost mechanically building to the supply chains i think is with a tiny unrelated though, it also drives up prices. and that is basically that the port of los angeles has a problem in terms of the congestion and in terms of unloading. and i would say

this is specific to the rest of the world, not having these problems. so wait times in rotterdam or m t work or singapore, shanghai. they about normal, their bit higher and a bit low to say, what's really the problem is california and it seems that the state of california has had a very adversary relationship, the trucking industry. and that is really was pushing that weight. so this supplies inches, people to the global supply chain. if you know this is a california supply chain issue and specifically los angeles, one should be address. well, i thought when you know, when americans hear that there is a supply chain issue here in the united states, that's a global supply chain issue as far as we're concerned about. so interesting to point out there about your notes about los angeles as well, is there was some data published back in may that showed that the ports in los angeles and long beach were 2 of the worst operated ports in all of the world. i think there was like both of them under 300 out of 350. so absolutely bizarre there

as well. but i want to hit on another story here, some of the world's biggest brands. they're passing on higher prices to consumers and are warning any policy makers sitting on in place, be inflationary fan, that things are going to get worse. how much worse are they going to get? well, i guess we're gonna have to wait and see how much worse they can get. i think they can get a lot worse. but i want to touch on when a tabio is talking about because there's a couple of really important points there. you know, he mentioned about the fordable angeles and in the port of long beach, and he says it's a california issue. absolutely correct. but the reason it becomes a national issue is because about 40 percent of all goods that come into the united states come through those 2 ports. so there's a huge impact on the rest of the country. he's also correct when it's, it's not just a port issue though it's, there is a supply chain issue in the united states in terms of our trucking issue. so yeah, there is an adversarial relationship between california and the truck and truck drivers. that's true. but there's also a shortage in this country, about $60000.00 truck drivers, not enough truck drivers to get the those goods out to the rest of the country. so

there are enormous problems with that supply chain. now, as a result of that, we are watching prices rise and that's only part of it. obviously, you know, that's the monetary policy, as you mentioned, is having an effect. but what else is having in effect is the lack of having supplies on store shelves. and so a manufacturers are warning about as this, and this is a, a very real problem that's only going to get worse. and it's in, it's been kind of a exacerbated by not only the, the fiscal policy in the monetary policy, but the incompetence in being able to get products out the store shelves. and, and the idea that we have a transportation secretary who's not present right now, not to be political it's, it's a matter of just getting out there and doing your job. it, this is a crisis that does not even need to be happening. it doesn't need to be taking place, and yet it is, it is building and taking place as a result of incompetence or, and certainly a lot of warning signs or should flashing, especially when you're hearing that it can get worse before it gets better than

vast. benson and octavia mirandi of openness. i'll see, thank you both for your time and insight on this one. and the boring company founded by tesla c e o l i must just got the greenlight to build a new underground loop system in las vegas, nevada clark county approval approved the project describing it as a 29 mile long track. that will eventually include $51.00 stations, the boring company estimates construction will take at least 3 years with up to 10 stations built in just the 1st 6 months. now the plan is to eventually move around $57000.00 customers per hour. but this is, of course, just the latest installment of the cost was in the old plan. and the 1st loop hasn't exactly lived up to the hype. the 1st version which consist of 2 tunnels and 3 stations under the las vegas convention center, was supposed to move around. $4400.00 passengers brower but so far it is only able

to move just over $500.00 passengers for hours and not exactly what you want. and when they design it, when they pick it, they say it's going to be the self driving test. they're driving through the tunnel from place to place, going straight to her. but the fact is, they're still driving technology isn't quite there yet. so what they're actually doing from the convention center right now is just having a human driver driving, a tesla from place to place. and also, i mean, as you know, i was just in las vegas last week. i appeared of the show from there. and the fact is, i don't know the traffic is bad. that bad in that city to actually necessitate this . yeah, we'll certainly be fascinating to see you on matthews is this kind of pitch it further? maybe go to other cities well, and another interesting point is going from a hotel to hotel. there was actually a exclusivity deal with the monorail there. but that that company went bankrupt in 2020. and that's how tesla was able to get it on time. not for quick break, but when we come back, former us president donald trump has finally no plans for his own social media outlet. we'll go over the details on the other side as we're gonna break here,

the number that the quote i ah, a rushing strategic patience with the west, particularly with nato and the appears to have come to an end. the west is hell bent on lecturing. moscow negotiating and dialoguing among equals hasn't been part of the equation for a very long time. the west is making a serious strategic error we have always been able to push that in sort of

a far dark corner of our conscious because then we'll turn it in. once there are alternatives, you can no longer do that and you have to kind of accept, oh yeah, for that, an animal has been killed and we act as greenhouse gas emission. and here we have essentially the same product, same price, same quality with none of those features. oh yeah. to maybe a lot of that in the beginning is scary, but in the end it's not when i see black america, i see myself when i was growing up like america spoke to me. why destroyed it? did not. those who say black lives matter is a movement we are importing from america. know nothing of who we are. i lived in a world where white lives mattered. and i was not white. like ms. newman and i wasn't new from black america. i learned how to speak back to whiteness.

aboriginal people of iraq more every day. we are moving them now with the police. we're out with. she speaks, i'm scared that my children are going to grow up in the country that think says no racism, but they're more likely to end up in the criminal justice system. then they're all the filler friends in daycare with both welcome back. former president donald trump is giving new insight into his plan to la is very own social media platform. month after was suspended by the likes of

facebook and twitter. now, according to his statement, the plan is to call it truth social. it's a project under the wing of the trump media and technology group that is going public on the nasdaq, through a back merger with digital world acquisition group. now, following the new digital world stock was hauled it at least twice on thursday, as it serves as much as 160 percent. in fact, the cnbc noted the company became the single most actively traded stock on the fidelity platform. with more than 260000000 shares changing hands by the middle of the day. so what does all of this mean for the future of trump platform? well, joining us out of this gap is legal and media analyst, lionel. alright, well i know we know that we've been hearing from trump kind of him thing about a possible social media platform of his own for months. so what do you make of the timing and the way his team is pursuing this project? well, already it's under attack, so that's not a good side already. it's being defaced there actually. and it, there is

a bull's eye on it as you can imagine. now let me, if i could separate my analysis if you will, from if you will, content versus business ah business. wonderful, that's terrific. but alleged to a couple of things. number one, don't tell somebody that you're going to reinvent news. you're not going to reinvent news. they do that all the time. what he should be saying is very frankly, is that not that he's going to go after cnn never mentioned the competition, especially competition that failing. also come out and say you're going to do basically pro, prevent or to prevent, promote the greatest news platform ever talk about it as just a regular platform, but not as some type of vengeance against those people who shut me down. because then it becomes purge at all, then it becomes all about me. now this may be really exciting, but friends,

i've got to tell you, look at all of the look at the latest getter and parlor wrench modular. and i can't even keep dragon easy. whatever happens, and also not to bo dome, but you know, and i know that under some law, some rule either apple discontinues in the saddle, i blows up. they're going to go after drug. it's going to be, i don't want to be a cassandra or our doom stair, but all indications are that they're not going to let them say a word. he'll violate something don't pass you was, i mean, can't you see this happening? is it, i mean, i wish him all the best, but yeah, i heard what is interesting. i haven't read where they're hosting this. if this is going to be an amazon web services that my dad cause some problems for sure. now while typically a company has already launched before it goes public,

what does trump have to gain from actually going public to respect more merger before the platform or as the platform is actually launched? i have no. yeah. have you ever heard somebody have you ever had somebody present somebody to you and you think yourself, this is the most stupid thing of her? i must be missy. i must be missing something. i'm embarrassed to say this. does this make any sense? and also, you want to have the grandest roll out with the greatest. do i have to tell you who is going to be? probably most probably in his list of folks on his, i mean you can, you know, was going to be if it's going to be a rehash of fox news if it's gonna be new. imagine whatever it is. if it's going to be another regurgitated re package, read formatted conservative news program. we've had this before. if i were trump, i would say, i'm going to do the most of grad, did you say brunt, which is

a good point? i would have it already done before. i announce it, but i would never mention anything about january sags or my own particular travails . i would say i'm here to compete with the rest of the news platforms irrespective, we're going to have everything. and by the way, if you look at the terms and conditions of what can and can't be said of this program, i would also make sure you can't tell other people that they can't speak open platform, which is dedicated to truth. so are you, do you really want to open up the floodgates and let your detractors come forward and contaminate your free speech platform with free speech? i was gonna say you would certainly think you would be listening to you on that one . but of course, we'll continue to follow and see what we get from truth social whenever it finally becomes an official plot where i'm legal and media analysts line on. thank you so

much for joining us today. thank you. thank you very much. and finally, the n b a is kicking off at $0.70 season, which is with its 1st crypto currency sponsorship deal with the training platform coined base. now it's still not clear yet what all is included in this multi year deal, but it is expected to include a brand presence during and be a games, as well as a number of partnerships with leaks and include the w, n, b a and u. s. a basketball and a statement, the n b a. so the deal will consist of unique content innovations. activations and experiences from coin base to educate fans on the increasing enhancements happening across the crypto economy. now while this is a 1st for the n b a as a whole, many other major sports have embraced crypto related sponsorship opportunities. one company crypto dot com has made 400000000 dollars in deals over the last 12 months, having become the official crypto platform partner a pair saint germaine as well as fighters wearing their logo at u. s. c. event. and earlier this year, the company also signed a $100000000.00 sponsorship deal with formula one as the amount of

b playoffs are currently taking place. the league umpires are actually wearing the logo of crypto exchange, f t x on their uniform, which had a huge valuation news come out this week. wow, that's absolutely fascinating. i mean, we're all talking about these crypto platforms. it seems like it would only make sense that they would take their way into major sports. i mean, if you watch sports today, especially in the united states, you get 2 major ad groups. you get crypto and sports betting both which really come on the scene heavily in recent years. so that's it for the time you get boom. but on demand of the portable tv app available on smartphones, tablets play in the apple app store by searching portable tv for one tv. you can also be downloaded on samsung smart tv roku devices, or simply check it out at portable dot tv. well, see you next time ah,

strategic patience with the west between, with nato and the e. u. appears to have come to an end. the west is hell bent on lecturing. moscow negotiating and dialoguing among equals hasn't been part of the equation for a very long time. the west is making a serious strategic error it's been decades since the fall of spams fascist regime, but old wounds still have entailed in different going into them is 40 because on the coming out to you a nickel, freedom. okay. give me a bowl said cutting me on the bus at the station. we know that i understand, i think with thousands of newborn babies were torn from their mothers and given away and forced adoption late bought about, i used to yell for faster than my own robots. i feel a little meant it to this day mothers still search for grown children, while adults look in hope for their birth parents.

oh, is your media a reflection of reality? in the world transformed? what will make you feel safe? isolation, whole community? are you going the right way? where are you being led somewhere? direct. what is true? what is great? in the world corrupted, you need to descend a join us in the depths or remain in the shallows. ah, ah,

ah. ah, president who jin says he believes moderate conservatism to be the most reasonable policy approach in today's term bill into world that can an hours long q and a at russia valdez discussion club for it through my points of view. moderate conservatism seems to be the most reasonable policy for the upcoming time period. all 3 mentioning the world and it could last some time as the final design is on course. this policy is going to inevitably change after supply disruption and staff shortages ahead across the u. s a bleak warning from the federal reserve that president biden refuses to accept responsibility instead. blaming his predecessor and rival republican and temper spray between you and members.