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we had a good time always talking to you, or phil flynn. liz, glad to see you. the lows of the session, down about 4.7% at the moment, and this has been blamed for the complete reversal in the markets whereas earlier if we show you the the intradays of the dow, s&p and nasdaq, they were well into the green, and now they are well into the red. we have a fresh session low for the dow of 18- point loss here -- 181-point loss, slightly off that at the moment. s&p, low of the session a loss of about 26. nasdaq, low of the session down 58 points. let us right now bring in our countdown closer, and we're talking right now to avel because, you know, give me a sense of exactly where you stand on what is moving this market at the moment. is in that insecure and jittery of a market that one earnings report from apple where they actually -- [laughter] beat on many levels is just not working? >> great to be with you, liz. so i think, you know, what we are seeing in the market right now is the market is a little bit tired, you know? you and i both know that the market does not

phil flynn following it closely and there's a bunch of other factors, phil, not the least of which iscates and how long does this go on? >> i'm afraid for the rest of the year, neil. this is just the beginning and i hate to be saying that, but this really is a blow back to the biden energy policy; right? when president biden came into office, you know, he went toe to toe with saudi arabia and wanted to make them a praia state and early in the administration when gas prices went up, they didn't raise production and released oil from the reserve now it's our turn. we've elmore i didded our reserve and saudis in the driver seat and that's why they feel confident and we produce production when supplies are tight and they know that there's not anything anybody else can do about it because they're in control. we see the control from them by pulling back from u.s. energy production. neil: a lot of these and you've reminded me that markets trade on psychology and perception and the move that doesn't produce more oil like opening up lands to more drilling and the like and starting to encourage

phil flynn, price futures group, and tim dalinger.ou are knee deep in the markets, for people at home, we are still reliant as a country on fossil fuels to go about our daily lives, this is what's happening. they are blocking our ability to pull oil here from the united states while iran's export business is booming. we put together this chart so people can see what has happened over the past few months. we have major restrictions on iran being able to sell this oil. is this a sign that we are lightening up on our enforcing of these sanctions so they can go and sell this oil to china? >> you are absolutely -- yes is the answer. turning a blind eye to what's happening here. the biden administration, you know, they didn't get approval from congress to lift sanctions but they are doing it anyway, and more than anything, this is a big slap in the face to the u.s. oil and gas industry. i mean, seriously. here we are at home, you know, working the hardest in the world to bring the cleanest energy in the world and we are turning to iran, it'

neil: phil flynn, senior analyst, excellent show coming up right now. hello, everyone

liz: we need energy and oil expert phil flynn on this story.ur wallets. phil, energy -- good to see you. energy secretary jennifer grand home in a speech in seattle claimed that it's a really good thing that the u.s. is importing less and less oil and gas. she's saying it's because we're trying to be an electrify indication of the u.s. economy. >> we deferentially do. she -- definitely do. she seeps to be a nice person but makes these exaggerated claims that can be disproved so easily. we look@why the u.s. is importing less oil it's because we're producing more oil than we ever have before and that's not because of policies by this administration openly hostile to the u.s. and gas industry, it's because of investment, ingenuity, and because of the way the u.s. energy industry has done it better and cleaner than anybody else in the world. and to make the wild claims and trying to take credit for what the u.s. energy industry is doing is misleading and doesn't tell the true story. liz: she's making in claim as the majority of the nation's grid op

let's bring in our panel, phil flynn is here, steve moore, just a quick warning, we are going to try to take the president off the top there. we will get out when that happens. phil, what do we need to know? everybody is looking at the prices as they head off for summer driving weekends. >> just when you thought it was safe to go back to the gas pump. and failure of policy, it's one of the things i've been warning about. you know, u.s. refiners are doing their best to supply the world with energy, but here at home the biden administration is doing everything they can to thwart production. while they tout the u.s. production will hit a record high, when you talk to the guys producing the oil, they are coming back. we are seeing the counts actually fall. so, what we are seeing here is that despite the fact that they are trying to say that prices are going to moderate, the risk to gasoline prices are on the up side. the summer driving season, hope it ends soon, the best chance for a break at the pump. >> sandra: steve, we want the prices to come down, makes lives easier and pleasurable.