steve poshes and andy puzder -- forbes and andy puzder are here.lus, elon musk putting his twitter buyout deal on hold. meanwhile, a new record number of overdose deaths in america, one happening every five minutes with fears growing that it will soon get a lot worse. plus, families are struggling to find baby formula across the country but not illegal migrants at our southern border facilities. senator marsha blackburn sounds off on that. but first, new numbers show inflation hovering near a 40-year high with average gasoline prices now at the highest level in history. president biden says it's not his fault. >> inflation in this country, do you take any responsibility? your policies? >> i think our policies help, not hurt. maria: but the president just killed more oil production, canceling drilling lease sales in the gulf of mexico and alaska. and on top of everything, now we have a baby formula shortage. here with me now in a fox business exclusive, "forbes" media chairman steve forbes and former cke restaurant ceo andy puzder: gentlemen, great

steve poshes and andy puzder -- forbes and andy puzder are here.deal on hold.

steve poshes and andy puzder -- forbes and andy puzder are here.ld.

. -- andy puzder. we'll get into oil and gas in amendment mo. and the fact we are slipping on growth. we got a revision of the gdp figures in the first quarter. we thought it was 1.3% down which is bad enough. turns out it was 1.5% down which is much worse. it looks like we're in the midst of stagflation. >> we are in the midst of stagflation. even more importantly, i think the american people are already sensing stagflation, even if, i don't know if the numbers are there yet or not. we'll have to wait for the government to record them. talk to anybody, somebody buying to buy gas, food, taking care of their family around bills, they're feeling stagflation today. whether it is technically here or not may not be as important as whether or not people are living it. david: it's a fancy term but demand destruction is what is going on here. just a very concrete example of that, comes from our old business, the restaurant business. i went to a restaurant last night. my sister-in-law is in town. my wife and sister law was in town. we went same place a f

andy puzder, the former ceo of tke restaurants explains why it's worse in some parts of the country,states not producing as much oil as it used, to and our failure to put in pipelines to make the transportation of oil less expensive, you are finding that areas where it's hard to get energy to are going to see greater inflation. >> no matter where you are in the country, inflation could spell trouble for democrats in the midterm. a new abc news "the washington post" poll found americans trust republicans over democrats it to better handle issues like inflation and the economy. bret? >> bret: grady, thank you. up next, horror stories from southern ukraine as refugees finally begin their escape and a bipartisan look at the state of helping the ukrainians there. first, beyond our borders tonight, the european union steps up its antitrust case apple, accusing the company of accusing the company dominant position limiting access to technologies allowing contactless payment. apply apple says it will continue to work with eu to ensure european customers have payment option to the their choic

now there's a backlash, andy puzder a friend of ours, let me get the name of the sea as a fund that isn't say that they don't use the esg filters. >> they focus on profit which is the fiduciary responsibility. >> the chairman of that fund and kevin hassett the former trump economist is much more about profit, they will investigate manufacture. great story i turned around and say why is tesla and esg darling. electric batteries, don't you have to burn coal to get electricity where are you going to put the batteries when they're done with don't they have lithium and all this bad stuff you don't want to put in the ground. >> today have an answer for that? >> no i'm not surprised phil flynn who follows the energy business says a lot of oil companies would love to be drilling more right now but they can't because they cannot get the money from a lot of the woke banks that have these policies. it's affecting our overall energy prices. >> if you're the average investor, you should know a lot of your investments particularly half of the managed funds that don't have an active manager has a hug