host: tim stewart is with us. if you want to ask about the whale and gas industry, you can do so on the lines. (202) 748-8000, democrats. (202) 748-8001, republicans. (202) 748-8002,s. --independents. you can also text at (202) 748-8003. -- talked about the role of oil producers. listen to what he had to say. >> there is number one reason why oil prices go up or down. when prices go up, they tend to say that his political leadership, but think about it this way. over the last few months, the president has supplied the u.s. market with one million barrels a day from the strategic reserve. we have never done that before. that will end toward the end of the year. >> will it end? >> look at what has happened. the private sector said they tend to increase production by about one million barrels a day that that will take time to invest in. the president said, i will fill that gap. my expectation is that the private sector in the u.s. will have those increases coming so we do not need the emergency from the government. h

host: tim stewart is with us.u want to ask about the whale and gas industry, you can do so on the lines. (202) 748-8000, democrats. (202) 748-8001, republicans. (202) 748-8002,s. --independents. you can also text at (202) 748-8003. -- talked about the role of oil producers. listen to what he had to say. >> there is number one reason why oil prices go up or down. when prices go up, they tend to say that his political leadership, but think about it this way. over the last few months, the president has supplied the u.s. market with one million barrels a day from the strategic reserve. we have never done that before. that will end toward the end of the year. >> will it end? >> look at what has happened. the private sector said they tend to increase production by about one million barrels a day that that will take time to invest in. the president said, i will fill that gap. my expectation is that the private sector in the u.s. will have those increases coming so we do not need the emergency from the government. host: h

tim stewart joins us. good to have you back with us. the secretary was saying as his boss the president was saying is that you guys are greedy and you're not drilling and you guys are not taking advantage of this hurting moment for average americans. you say? >> well, i heard him also equate oil and gas executives with the same level as vladimir putin. to that, have to say wow. that is something that he may want to rethink about. we're all on the same team here in the united states and we're doing our best. a lot that the biden administration can be doing as well. we're not going to do it if they don't talk with us or work with us. there's a high wall put up between the industry and is the administration on trying to solve this crisis. >> so when we look right now and you hear about not taking advantage, leases, permits and if you wanted to take advantage of it, you could. i understand how it works. they're not automatic gushers and a lot of approval process to go through. so you hear from the administration that you like it this way be

. >> tim stewart with us, the first call from virginia, built independent line, ronald i guess go-ahead. >> good morning, and thank you for taking my call, mr. stuart, two quick questions can you please explain, the difference between the freestone pipeline and the keystone xl and whether or not president biden prices step down as one of those present as be back this way questioning and that is on the seem to affect everybody because the actions taken on the very first day of the administration pipeline structure in north america is very complex and keystone xl really basically part of the same system and what was needed was essentially that last segment to be approved in from the canadian to the oklahoma and out to the gulf, refried and the administration came in but hold on the remaining permitting essentially killed the project because of that delay that would take place essentially they said not going to do it while we are in office. possibly that your delay and so essentially that is what a signal troubling signal to her closest training partner that we were not going to participat

oil and gas association tim stewart. >> tim, good morning to you. >> good morning.eve: okay. so you guys say obviously, it's not coming from the president, it's coming from somebody who doesn't understand economics 101. this is simple supply and demand. everybody understands that isn't it? >> yeah. it's not like there is some group chat with 150,000 the gas station owners on it where they send out a message the president told to us lower prices we are going to do it. it just doesn't work that way. >> steve: ultimately what the president, you know, and we have gone into this for over a year now on day one when the president pulled the plug on keystone pipeline and made sure to make it harder on oil developers and people in your association to pull oil out of the ground so people would buy more electric cars. now, given the fact that russia has got us over a barrel literally and figuratively. you know, we need to upthe production in this country, but the administration is not going to do that. well you, know, so every week the industry itself has to deal with two thin

host: joining as now is tim stewart, president of the u.s. oil and gas association. good morning. as far as the association itself, whom does it represent? -- who does it represent? guest: we are the oldest energy trade association, formed in 1917 to make sure petroleum made it to the military. our membership has evolved. we primarily represent production companies.

tim stewart is president of the us oil and gas association and jointly now.or it this afternoon. what say you? >> reporter: i bet he won't take credit for the recession that will follow that. the reality is he mentioned earlier there is demand collapse underway, lot of uncertainty continues to be priced into the market and industry coupled with the fact that we are doing what we can to increase production, you are starting to see those prices come down which is a good thing. i think our industry, worst thing is extreme volatility, we have long-term plans and we welcome more stable pricing. stuart: transportation secretary pete buttigieg said they are not using available drilling leases. >> why are they sitting on opportunities to produce right now? because this environment where they are extremely profitable, they are favorable for the bottom line. neil: they are limited with those permits and licenses you talk about, they are not all going to be gotchas and even that 9000 is about half of what was months ago. why didn't they counted? >> they make more money

neil: i apologize for that, tim stewart of the u.s. oil and gas association president here.lk about the pressures on the industry here and pressure on folks, most countries even though they are very much addressing climate change, our opening up the spigot and alternative energy sources but for them, traditional fuel like traditional on the gas, the deal with the pumps we've had and that is something we are not doing in this country so i try to keep the politics out of it and look at it from the right or left but not red or blue but just green if you are in the inner's energy countries, they are just green, nothing wrong with that. they stand a good opportunity making a lot more by being able to drill for a lot more. that is the equation in the world right now and it's leading to still higher prices. we are also on top of this trend going on, everyone but yourself to blame, not you, america but we hear from the president. a war in ukraine, energy crisis, this started long before the got into or anywhere near ukraine. then the airline, believe it or not, blaming the weather f

growing concerns that it could slow things down and the economy not only here but everywhere, tim stewartut this environment is not and i'm wondering what you see happening. a lot of people are looking at the inflation wondering how much longer we can pay higher prices. may be the market is deciding not very long because it anticipates very few will continue paying them. where are you on this? >> oil prices have come down and that will provide relief for consumers. the bad news is oil prices usually happen in a recession and we are looking at 9% inflation in the global recession coming forward. this is the fourth selloff we've had in the last year and those selloffs have come between 7% and 20% on the price of oil but no infected in 9% inflation and that has a real impact on demand globally so we are watching this carefully. neil: the secret that doesn't get much press is you have been boosting production best you can in this environment, running 95% capacity right now but if you worry about that no matter how much more you might drill or take advantage of what you have it is not going to

juanita, thank you for joining us tonight, tim as well, good always good to see you both. when we come back, for john stewarta brutal betrayal for american veterans and their family. the republican reversal on their health care funding. when the 11th hour continues. i'm jonathan lawson here to tell you about life insurance through the colonial penn program. if you're age 50 to 85, and looking to buy life insurance on a fixed budget, remember the three ps. what are the three ps? the three ps of life insurance on a fixed budget are price, price, and price. a price you can afford, a price that can't increase, and a price that fits your budget. i'm 54, what's my price? you can get coverage for $9.95 a month. i'm 65 and take medications. what's my price? also $9.95 a month. i just turned 80, what's my price? $9.95 a month for you too. if you're age 50 to 85, call now about the #1 most popular whole life insurance plan available through the colonial penn program. it has an affordable rate starting at $9.95 a month. no medical exam, no health questions. your acceptance is guaranteed. and this plan has a guaranteed

stewart is the president of the u.s. gas and oil association. we're honored to be joined by tim. thanks so much for coming on . so you know f someone who's not in the business as you areet selling off an asset like this and allowing it to be sold to china seems a criminal. >> honestly, you know, tucker , you articulate it better than it just about anybody. the question i thinknk to answer that question, you have to ask ourselves, how did we get here in the first place? how did t we replace one bad policy with another bad policy? how did we go from being the world's energy superpower, being number one in oil and gas and coal and geothermal and second in wind and solar to shaking the tin cup to the saudis and not being able to trackev where were our strategic petroleum reserve releases end up? it's really quite it's quite disconcerting, isn't't i would say it's really important to know that the exploration production companies were notot supportive of the strategic petroleum reserve release. why didn't we just why weren't we allowed just open up the spigot what we're alreadye doing versus shutting that off the n