family dog, my brother, who was 21 years old, myself and my father were all guy. sam. rob did they brought a reminder. wow. yeah. all right, and the good play. right? yeah, yeah. maybe they'll actually learn more help is more important to join me every 1st aid on the alex silent. sure. but i'll be speaking to guess of the world of politics, sport, business. i'm show business. i'll see you then. ah or this is room was the one business shall yet can't afford to miss. i've been why

filling in atlanta coming up. oil prices are climbing yet again as omnia con, concerns have encountered by falling us supplies straight ahead. we discuss recent developments in 2022 forecast with an expert in that sector. and as inflation continues to swam the global recovery, the auto sector has been one of the hardest hit industries. later on will bring you the impact on herself and to say to be ongoing symington, dr shortage. and as we opposed to a 2 year mark of the pandemic outbreak, new data shows that nearly 100000000 people, 100000000, have been thrown in the poverty during that time span. we have a pac show today was dive right in. and we began with us, look at those soaring oil prices that we've been seeing for the last year, a year behind us now. and as we headed to $1022.00, there are huge concerns. not only about the cost of oil, heating, oil, and gasoline, but also what will happen with those prices as we move into the new year. so here's

where we stand right now. the omni cron variant has really not impacted oil prices . in fact, oil prices did decline on wednesday, even after government data showed that u. s. crude and fuel inventories fell. offsetting worries that rising corona virus cases might reduce demand. here's what that means. omni kron has not impacted oil prices by reducing demand, and yet the price continues to go up. it continues to climb. and a big part of that. how about this work? inflation to give you an idea of just how bad inflation has been when it comes to energy and the energy market. or maybe it's the other way around. the price of gasoline is up 58 percent. the cost of heating oil is up over 34 percent. as we head into 2022 oil prices look like they very likely may climb to up to a $100.00 a barrel. yes, we're not far away from hitting that mark unless of administration. of course decides to change course, maybe not just on one level, but possibly on several. so i thought about this with kirk edward i. he's

a former chair of the permian basin petroleum association. kurt, great to have you with us. like you been so absolutely looking back in 2021. okay. we know that obviously that year was what they call great inflation expansion. right. this is unlike anything that we have seen in the last 40 years in this country. in terms of inflation has been pretty incredible. a couple numbers that i want to take a look at it here in november, consumer inflation was up 6.8 percent. that is the highest. it's been since 1982 and energy prices. they are a major root cause of that. are they not? well bid. just think about this too. rib steaks up, 100 percent. so sales up papers up. everything is up across more trying to get a refrigerator today for your new house or just replace the one that just. ready broke, it's across the board energy of course it's so important to delivering all those fields across country to heating our own air conditioning and during the summer.

but yes, all of this is happening at the same time because inflation is just running rapid in every part of our industry, every part of the world. wow. and of course, one of the differences current between, even though lesson, there's pain everywhere, right? as you just alluded to, try by lumber right now, lumber is incredibly expensive, right? a try to buy a refrigerator. but what i can do in a lot of cases is not make those purchases maybe of lumber and refrigerators. but i got to have energy, right? every single human being on this planet has got to have energy and especially if we go into winter months, the need for heating, we needed to be able to get around for travel. so with the bible administration right now, they canceled pipelines. obviously these drilling moratoriums that they've had, it appears that the environment for that is shifting a little bit. what are you see? is the button administration changing course? or are we going to continue to head down this road of kind of keeping a hard line against energy independence. you know, where we're seeing those science, but again,

we have never seen anything from the bad administration as far as going back. it's like, hey, united states energy industry, you're very important to us. you're very strategic to us. you're going to report on poverty here in a minute. we're doing with low energy prices that we had last year to help so many in, out of poverty that couldn't afford the, the price of natural gas and oil and gas lee in the past few years. but yes, the, by the ministry, she couldn't lend a hand to the american energy industry, telling us where we wanted telling us to get back to work and quit. so punitive is a great word against us as they have business administration took place. we didn't have, we have not seen lead up in the s p r move just a few weeks ago. was another shot across about us. i didn't do anything if you could possibly imagine, but it's just them sticking a seminar. i one more time telling us to go away that's. that's what we're yeah, you know, i've gotten into arguments on this very show with people who will say, hey,

there's plenty of energy out there and plenty of folks buying it. and that's the reason prices are going up. is there such a huge demand? i don't buy that at all curve. i don't know where you fall, i guess i'll pose that to you. but here's the thing. is that when, when we hear that the indication is o, china needs a lot more energy and that's why prices are going up, euro needed, they. and so it's, this is this demand market. however, the demand market was still there just a year ago when gas prices were not as high energy prices were not as high. and the thing that seems to have changed is the fact that there are moratoriums on drilling moratoriums on exploration and pipelines that have been canceled, that, that have made the us less productive in creating energy. am i getting that wrong? well, one thing you've got to keep in mind your business, okay, plus the key to all of this. okay. plus russia, which is the plus part of that they have taken this stand to not flood the mortgage . you saw what happened last year in march through may and last year, when the saudi flooded the market and drove the price,

the navy pricing saudi and russia have gotten together to limit the amount of oil is flooding the market. they like what's going on now they like the amount of production in the world and a stable price. they can make money. yes. united places be beneficial for this. and so now you see are major units like pioneer and conoco phillips and apache and companies like that. not go out and put a whole bunch of more research, talk about a 100 other war. many people are predicting that, but these companies are saying, hey, we're not to put more rigs out next year. we're going to pay dividends. star stockholders, and we're going to keep that lock. it is because we know they can make money right now for the next year. or so, and they're very afraid of open opec plus money to markets again. so right now everybody's just trying to get healthy again from the horrible 2020 we had last year. can the us club the market if we would begin producing energy the way that we were 2 years ago? could we get more energy on the market and drive prices down because that's what consumers may need. it might not be great for shareholders in oil companies,

but that's what consumers need. do they not work? yeah, but again, like you say, you're a calculator and you're selling me and so you want to go. so how much and you know, how much work out to drive your price down of what you're doing. it cut your profit . so it's one of those arguments that again, these all gas companies, one ready to go back on the market right now would be a $100000000.00 investment for a year for a whole company to do that. so it's a very big guy, and there's a lot of strategy, a lot, a dedication of boys and people. and again, we're sure right now, and people and manpower to really wells are after denial on various hurting the people in the warfield too. so it's going to be a good, tough month or 2 to get through this. but i do think you're exactly right on the contrary and knock the price down when it was announced coming back out of. and i think we're going to be just fine. and i think you're going to see a lot more people traveling. finally, get rid of this corona virus in the future. yeah. last question here. we got about

30 seconds left. what can be done in the next 6 to 12 months to get oil prices down significantly, or is that simply not going to happen? again, it's not going to happen because opec and russia are not a lot more. i think they lack what's going on. they know, coming very into the cobra everywhere is hurting the world's energy look right now . so what's all that? it's not a lot. i think that would be able to produce oil and put it on the market for right now. i think everybody is the energy producer is lacking. what they're saying makes you want to ask just 2 days ago. they're going to put export in 2023. so there's more files on the rise of prior prices than lower prices. ahead go ahead. were former chair of the permian basin petroleum association. appreciate your insight. thank you. thanks for having been happy new year. i was thinking of inflation. obviously there's a lot of it is affected virtually every single industry that is out there in the

country. right. but one industry has actually been hit harder than most others. the car industry, in fact, a new report claims that inflation has actually effected car ownership and it's related expenses, more than other essential goods and services in the us. this year. again, i want to remind you that the inflation rate reportedly increased the 6.8 percent the highest number in 40 years. so let's get some insight on this from lauren fix. she is the car coach and she knows all things cars. lauren, thanks for being here. thanks ben. yes. so the number one thing here, the increase right? and car costs as, as we just discussed, if you're looking at a chart of these numbers, right? number one thing is fuel, no question about it, but there are a number of cars that him, his used cars are up, electric cars or up can you break down kind of what the industry and this means for them right now as we look at some of these numbers here actually the, for on the screen folks can see again, that different areas that are up right now. it's kind of insane. if we're talking about one industry getting impacted this art. absolutely. you got rental cars which

we have a shortage of rental car. so the price goes up, basic supply and demand used cars are up around 31 percent, but i've seen them as high as 50 percent apparent. we're looking at new cars are up at least 11 percent, but they're selling these vehicles more than sticker yesterday. i got a email from someone from a jeep, that was literally $50000.00 on top of the price. that's absurd. and that's a problem. so what happens is the dealers are making money by selling less cars and having larger profits. in addition to that, you've got to equipment, repairs and maintenance, are up 10 percent plus the shortage of parts and you've got insurance up somewhere around 6 percent. and of course the cost to ensure an electric vehicle has gone up $2.00 times over what it is for gasoline comparative. so now look at that, plus the cost of the vehicle going up in electricity costs more like you've been saying. and you can see right into the box, it's going to cost consumers a lot more money. okay, hold on. you got it back up for a 2nd. you said that you saw someone who sold in jeep $50000.00 above the asking

price. is that what you said? right, exactly. so friend of mine is an l. a. he went to a to a jeep dealership, looking at buying a jeep and he found that the price was lifted. i am additional dealer markup. $50000.00. no worries. if you want it, we got it, but there's going to be a price to pay for the supply and demand is how they call it. i think that's highway robbery, but because they are franchises, they can choose to have no markup or choose to have a markup. well, and if you haven't g, now's the time to maybe put it on the market. how did these increase you know, really impact the rising costs of the electric vehicle economy, right? because we the electric vehicles, it seems like it might wind up with a chicken in the scenario, right? you might that will more people say hey, gas prices are so high. i'm going to go get an electric vehicle or you may have people say, i'm not going to pay for an electric vehicle because my electricity costs are so high and the vehicle is more expensive. so what do you seeing happening right now?

well i see it, the same thing is happening. they've basically stagnant electric vehicle market. you're looking between 2 and 4 percent sales. we'll get some final numbers here in the next couple days. but we look at the numbers as a whole. there's only been 2 percent take rate. it's not just the ranges, it's the fact that there's a fee to purchase this electric vehicle. there are limitations and you can't charge that fast on the state of california, which has the most charging stations of any state in the country. they still have a problem with people getting to charging stations, which i experienced myself. and there's something in the someone's already park there, so that leaves you with out a way to charge. that means you don't, you go to get gasoline, takes 7 minutes to fill up and you're on your way. that is not the case of electricity. yeah, and if you try to do it from your home, right, i think there's some, some places in california where they're kind of, they're cheating a little bit and they may change the price of electricity at nighttime in the us so that people can charge their electric vehicles, right, something to that effect. let me shift gears would be for a 2nd to write about. we don't do that, you know, you know, but you know,

we don't do that just like your phone when it's time. you see an outlet, you plug and people do that with cars as well. that's absolutely correct, right. if you've ever been to the airport, you know, they're all 40 in the outlets. let's talk about semi chrysler exactly right. now, you know, china's going through this process of trying to really get the semiconductor industry builds up in their country. and one of the things they have done is that the ruling communist party there has tasks. ali baba, the world's biggest e commerce company, they have tasked them with actually designing its own processor chips. what do we know about? well, it's going to take about 3 years from the time that you've been tasked with this. even if you have unlimited cache, you still have to produce it right now. we've got a lot of factors coming online here, even in the u. s, than in other countries. but from the time you created to it's inception of actually delivering product to the market is a 3 year time window. it takes that long. but remember trying to hold the keys because they have all the materials that are required in order to create the chips . so they have the material, they might be able to get it done quicker,

but still it's not going to be less than a year. so that's why other countries have been working on this since the started, which has been about a year and a half now. yeah, and i think a lot of the recognize the actual actual stakes here in a semiconductor range, if you will, between china and the us, it's pretty incredible. and on the us side of it, texas, it seems to be kind of the ground central or ground 0, excuse me, of where's the me conductors are being developed here about $50000000000.00 exported specifically in that one industry. i'm semi conductors in taxes. do we expect to see taxes continue to be that hub where we're going to see it spread out more across the country? i wanna see texas right now because that's where intel is based. but there's also going to see some, some coming out of california in other states because as quickly as they can re tool their companies and shift to that production. or if they made the older style chips shifting to the newer styles, a little easier. i think you're to see a lot more vertical production companies like ford and gm, and

a lot of the other domestics are starting to build their own chips here. so they can control the content. i know a lot of manufacturers are doing that. having talked to a lot of executives in the car industry, they tell me they are going to control it. they are never gonna find themselves in this position ever again because it's hurting the car companies financially were off by about 4000000 vehicles. that's somewhere around $400000000000.00 in lost sales. that's based on the average profit of the average card. that's a lot of lost money, which means jobs, union jobs, non union jobs, and all the supporting companies around that. whether it be marketing companies, social media, companies, advertising, whatever, it may be, everybody's impacted including all the sub suppliers, like tire companies and all the sorts of players or components. so this impacts kind of me as a whole, cuz remember half of the dow jones half of it is impacted by the auto industry. that's how important the auto industry is to our country as it is also the same case in germany. yeah, absolutely. lauren: fix the car coach, making me wish i own the jeep. thanks so much. thanks.

what's, i'm not, we're a quick break, but when we come back, we discuss another aspect of the coven. 19 fallout? new estimate show that nearly a 100000000 people have fallen into poverty during the pandemic. we'll talk about that. and as we go to break and the number of the clues ah, one of the worst ever mass shootings in america was in las vegas in 2017. the tragedy exploded a little of the real las vegas, where many se elected officials are controlled by casino owners. the dank,

has shooting revealed wet deal vs p. d really is. and now it's part of the stand machine. most of the american public barely remembers that it happens that just shows you the power of money in las vegas. the powerful showed that true colors when the pandemic heard the most contagious contagion that we've seen in decades. and then you have a mayor who doesn't care. so here is caroline goodman, offering the lives of the vegas residence. to be the control group. to the shiny facades conceal a deep indifference to the people vice could have been saved if they would take an action. absolutely, keep the registering and keep the slot machines. dinging vegas is a money machine, is a huge cash register that is ran by people who don't care about people's lives being lost. oh, is your media a reflection of reality?

in the world transformed? what will make you feel safer? high selection, whole community. are you going the right way? or are you being led to somewhere? which direction? what is true? what is faith? in the world corrupted, you need to descend her join us in the depths or remain in the shallows. ah ah ah.

and welcome back, you know, over the past 2 years, virtually every single new story around the world has somehow incorporated some aspect of covert. but here's what's interesting is how one of the most important aspects of coven rarely ever gets talked about. so how's this for a headlight? for the coping pandemic it has pushed over the last 2 years, nearly 100000000 people in the poverty since it began. so here's the hard truth. the pandemic didn't actually do that. policies instituted by governments around the world did that, and they did something else. they also pushed the world's richest people to soaring new heights of wealth. so who better to talk about this issue with us than with host of economic update professor, we're good to have you here. so let's talk about this 1st part of the headline. 100000000 people worldwide have been pushed into poverty since this pandemic began

. now this is to be clear, something that i've actually been talking about for a long time. and i know you have to. so if people like you and i can see this, why couldn't governments around the world recognize that this was happening? and how did it sneak up on them or did it? i don't think it really did. i mean your question is, is right on the money, but i think they understood perfectly well. there were plenty of signs that were a good number of reports by a variety of international agencies. i think what you see is governments responding if i can be in poli, are they are captured by their donors as a man. one said that they didn't do what they good on, you know, quite right. they could have said, for example, to they a few 1002 or 3000 billionaires in the world. look, you already are billionaires, you're already the richest people on this planet. we would like to tax

a portion of the you are increasing wealth, oddly a burden and that will take care of avoiding this poverty increase could have been done, should have been done, wasn't done. and so whether we had a huge me an increase of a 100000000 in what we call extreme poverty, which is what this is, brings that number up to something like 700000000 people. wow. those are in extreme poverty, while the richest amongst us get richer. i'm not aware of any moral code, any religion, any ethics that makes that reasonable. we shouldn't have done it. we didn't need to do it. the richest people could have been taxed and still be the richest people to day without us having the poverty all around us. and as we know from studies of poverty, when it gets worse,

loads of other social problems immediately follow. so we're going to be paying the price for how we handle this pandemic for years to come. and one of the things we're all gonna have to remember is when our leaders said, well, let's fight the pandemic. we're all in it together. we weren't all in it. together, some of us were in a boat going up, and a lot of us were in a boat going down. yeah, i think that's it. that's very well said. the 2nd part of the, the story, of course, is this issue that you are talking about of the wealthiest people around the world becoming vastly more wealthy. some numbers here, the top one percent grab 38 percent of all additional wealth accumulated since the mid 19 ninety's, while the bottom 50 percent capture just 2 percent of it. now i think professor, you and i just having interviewed you a number of times before, i believe you and i are going to differ pretty greatly on what to do about this. but here's where i thing with you. and i would probably agree that this isn't just

a moral and ethical problem. it is an unsustainable problem when you allow so much wealth to flow upward and so much a degrading of people. it's really what it is and the degradation of people to take place on the bottom half of the entire planet. it is an unsustainable system that will collapse on itself. will it not? absolutely. i you are right. we agree. i could not agree more with literally, every word you just said, and i think we already see it. if we just, you know, connect the dots. we have levels of hostility in our country division in our country tension in our country, our squabbling on every level in our country. those things are not unconnected to not just the poverty, but the anxiety of the people who aren't in poverty yet. but on blind to see what's happening around them, and wonder, perfectly understandably,

whether the one percent having basically done what they good to the bottom, 50 percent are now going to go after the middle and the middle already feels shaky . yeah, i think this is an unsustainable social, psychological and political problem that is going to shake us and i think to the foundations of our society. yeah, and what you just said, there are a lot the anger right in the country because there is a truth here that i think so many people miss. there is just unbelievable, angst, anger, frustration, mounting, growing all throughout society in all levels of society. right now. what the pandemic did was it smashed the middle class that the little bit that remained of it. it seems like, and it further polarized people and, and the, the last, the earliest thing you said about, you know, the politicians and their donors for the politicians have to understand is that when this anger begins to boil over, they are not going to be in a in

a advantageous place, having been the catalyst for all this, i'll give you the last word here. no, i agree that you and your again i would, we agree on all of this? and i think even if we don't agree on this, that our whole system, which has been carefully sanitized to be out of the conversation. so we focus on the details. our whole system is going to come into question. and it's going to shake our society because a system that for 40 years moves well up the scale away from the mass. that's as you put it correctly, an unsustainable historical and social situation. absolutely, it is professor richer will house of economic update. always a pleasure talking to you. thank you. and finally, you know, technology has become pretty incredible, right? come a long way from those clunky cell phones to all the way to smartphones,

you know, walking around with a computer in your pocket and such. the revolution really has come at a breakneck speed. and as it turns out, have you heard of enough t's well the perfect enough t for the times has just been sold in paris. listen to this, the world 1st s m s. text message. yeah, the 1st one ever sent has been sold as enough t for nearly a $150000.00 and an auction in the french capital. the message? well, it's kind of perfect for the season. it reads merry christmas, it was sent all the way back in 1992 from a british computer programmer to the then head of british telecom giant vodafone. the cell encompasses the rapid evolution of technology over the past 3 decades, and is now preserved in what seems to be the art wave of the future, making all things new again, we could say gas, that is our shell. that's it for this time. you could always catch boom bus on demand on the portable tv app, which is available on smart growth,

smart phones through the android and the apple systems. google play, apple tv, all those good things. plus, you can also find us on the apple app store by searching portable tv. that's the best way to watch the show. we leave you with a live shot out of our washington d. c. studio. happy new year. ah. when i looked showed the wrong one, i just don't hold any world vs to shape out the same because of the african and engagement. it was betrayal. when so many find themselves worlds apart, we choose to look so common ground. ah,

in with oh you're welcome, nick jam bruner to the shell for this christmas week. special nick was casey research for a long time, but he started his own company focused on helping people to see the big economic and geopolitical picture to survive and thrive. the changes ahead

ah, if you little to do them in the army can very and, but it's not just to wave anymore, given the numbers we are recording, it's a tidal wave. front sets a national and european record for daily coded cases of the continent struggles to contain the fast spreading over chrome strain. joe biden, distances himself from previous promises to shut down the virus saying it's up to individual states to sort out not the white house. we discussed the u. s. president's response to the pandemic. so far, america's big text, tough year, which so leading companies come on the political 5 from both the republicans and democrats. we look at how the influential firms have become mixed up in divisive us politics.