bob mcnally, great to have you back on the "newshour".ing, can you help us understand what is driving these prices up? is this principally a response to russia and ukraine? >> you know, it's two things. before the russian attack on ukraine, oil prices had rine sharply up from the $60 to the $90 raining and that was because the glob oil market is tight, demand has been quite strong, supply has been lagging, inventories are low. so that brought us from the '60s to the '90s. it's the invasion of ukraine and specifically the severe sanctions that were announced over the weekend that startled the market and put another $10 into the price of crude oil so that we're now at about $110 wti. >> reporter: the u.s. and this global coalition seem to have a double-edged sword here. they want to inflict as much pain as possible on russia and vladimir putin but they don't want the pain to boomerang back on to their own societies. can they manage that balance? what are the leavers that the west and this coalition have to protect their own citizens? >> the

bob mcnally thank you for breaking it down for us. >> you bet.nk you. >>> vladimir putin's ukraine invasion has some people comparing to leaders from russia's past. the czars. is he on a mission to restore the russian empire? and how is he using religionen in all this? russian expert jill dougherty joins me next. at intra-cellular therapies, we're inspired by our circle. a circle that includes our researchers, driven by our award-winning science, who uncover new medicines to treat mental illness. it includes the compassionate healthcare professionals, the dedicated social workers, and the supportive peer counselors we work with to help improve - and even change - people's lives. moving from mental illness to mental wellness starts in our circle. this is intra-cellular therapies. lisa here, has had many jobs. and all that experience has led her to a job that feels like home. with home instead, you too can become a caregiver to older adults. apply today. ever wonder what everyone's doing on their phones? they're banking, with bank of america. the g

for more on this, and what might be done to curtail the economic impacts, i'm joined by bob mcnally, of rapid-an energy group. great to have you back on the newshour. broadly speaking, can you help us understand what is driving these prices up? is this principally a response to russia and ukraine? >> it is two things. before the russian attack on ukraine, oil prices had risen sharply from $60 to $90. that was because the global oil market is tight. demand has been quite strong. supply has been lagging, inventories are low so that brought us from $60 to $90. it is the invasion of ukraine, specifically the severe sanctions announced over the weekend, that startled the market and put another $10 into the price of crude oil so we are now at $110 wti. williiam: the u.s. and this global coalition seem to have a double-edged sword. they want to inflict as much pain as possible on russia and vladimir putin, but they don't want the pain to boomerang back onto their own societies. can they manage the balance? what are the levers the west and this coalition have to protect their own citizens? >

something new. 100 years ago, i'd like to submit each week from the former white house official bob mcnally. he shows a newspaper reporting one of the earliest investigations of illegal immigration gasoline market getting back to 1920 they found no evidence anti-competitive behavior then and guess what, i don't believe they're going to find it now. it's an issue of supply and demand. putting aside the fact the president wrote to the ftc which is supposed to be an independent knee agency not to be influenced by the white house, what do you think of theadministration should be focused on in terms of securing our energy supply ? and i'm over. doctor, i'd appreciate you answering that question at a later time. i yield back appreciate your indulgence . >> thank you, i will refrain from trying to respond. we can talk later. and let me now call on mister ross, my colleague from illinois for five minutes for questions. >> i want to thank you madam chair for this hearing. at the onset i want to let you know that i am writing a letter to you requesting a hearing to address the allegations of racism t

100 years ago -- i'd like to submit for the record a tweet from the former white house official bob mcnally shows a newspaper reporting that one of the earliest ftc investigations of illegal market manipulation in the gasoline market dating back to 1920s. they found no evidence of anticompetitive behavior then. guess what, i don't believe they'll find it now. an issue of supply and demand. putting aside the fact that the president wrote to the ftc, an independent agency. not to be influenced by the white house. dr. richey, what do you think the administration should be focused on in terms of securing our energy supply and keeping prices down? oh. i'm over. dr. richey, i would appreciate you answering that question at a later time. madam chair, i'm sorry. i yield back. appreciate your indulgence. >> thank you very much. i will refrain from trying to respond. we can talk later. and let me now call on mr. rush, my colleague from illinois for five minutes for his questions. >> i want to thank you, madam chairwoman and the ranking member for this hearing. at the onset, madam chair, i wanted to l