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June 14, 2022 12:46 pm
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Grace through sacred call Steve now 86 34 true 866-34-TRUTH or checking out online, Steve Noble Joe.com now here's your host Steve Noble hey are you are you looking job.
Are you good on your very good with answering westerns you can handle the spotlight heat of the moment. The live environment. Are you good there that something you be comfortable and like that. Like you know something like what I do. If it is that that's right up your alley I think is going to be a job opening. Maybe by then the year. I don't know how fast it's going to happen, but Karine Jean-Pierre is the new White House press secretary coming in on the heels of the agenda sake I'll circle back around to Jen Saki now that she's making the big bucks with MSNBC or wherever she went, but Karine Jean-Pierre the White House press secretary is Johnny and she's well educated, and all this stuff, but I'm like what she is so she's unimpressive to the point of it being uncomfortable to watch her like a couple clips on the plate for you. I'm just watching like wow how did you get this job like what's going on here. Prior to her role in the campaign, so she was a senior communication and political roles in the by demonstration. The Biden campaign and then VP Biden and the Obama administration prior to her role in the campaign. She served as chief affairs officer for MoveOn.org court. She did NBC and MSNBC political analyst which almost sounds like a contradiction in terms of Jean-Pierre served as regional political director of the White House office of political affairs during the Obama Biden administration and as deputy battleground states director for Pres. Obama's 2012 reelection campaign should be around a while, she served as Southeast regional political director for Pres. Obama's 2008 campaign directed deputy campaign manager for Martin O'Malley for Pres. whoever that is, campaign manager for the ACLU's reproductive freedom initiative. Of course, and Deputy Chief of Staff and director of legislative and budget affairs for two members in the New York City Council. Once again, of course, but when I listen to her. God bless her like you just your urine. Either you're not very good at your job or just bad at lying or you did okay in school and you could get. You can get some you know some pretty significant jobs. Pretty impressive jobs, but you're actually not all that sharp.
I mean, like a herd that does your driveway make it to the end of the street.
I mean, I don't know not the brightest lamp on the street driving it driver doesn't quite make it to the road.
Whatever little euphemism you will use but it's really pretty sad. I'm applicable clips there. Karine Jean-Pierre which are unfortunately almost laughable but doesn't that just go hand-in-hand with the present United States is clearly compromised and so will your clip when a Steve Ducey from Fox news answer a question about the plummeting stock market and then said Don Lemieux from CNN is talking to her and tears to ask about the physical and mental health of the president and in the way she handles both those things I might listen. This is just like a kabuki theater up there in the White House is just unbelievably bad.
So I will do that and then I want to talk about that that house actually passes the Senate bill providing security to Supreme Court justices, families, never mind the fact that all these demonstrations outside and then the what would look like a an assassination attempt that was coming up on Cavanaugh. They caught the guy turned himself in. AOC was get in the way of all that stuff. Try not to because they couldn't get a gun control bill done. She didn't want to talk about protecting people at the Supreme Court in and by the way, it is a federal offense to Pickett in demonstrate outside of any federal judge's house or office because that's you're trying to influence the court and that there at that's a federal law violation and had they done this in Pres. Trump from my interview with him yesterday. If you miss that you want to hear that interview number yesterday morning and then played that on the show yesterday get that on podcast or Facebook live YouTube live at the Steve Noble show page at either of those places, but he talked about that that obviously if it a bunch of let's say a bunch of pro-lifers showed up outside of Elena Kagan's house were out there protesting they would throw them in jail. I mean faster than you could say who they would be all over that like stink on a monkey but because it's Roe versus Wade and it's the pro-abortion crowd. The pro-choice crowd out there demonstrating against those nasty 14th-century conservative judges just look the other way and Nancy Pelosi and Chuck Schumer, and even the president just gonna write it off even the one in the Senate. They overwhelmingly said yeah we need to protect the justices very much, but in the house they were dillydallying around, but they finally pass it's will talk about that some school board issues here in the wake County where I live. One of the biggest school board counties at one of the biggest school board areas in the country to talk about that because there's a huge opportunity there. I want to tie that into the in SBA's domestic terrorism letter that little exchange they had at the FBI. I want to go through outcome. A lengthy article about and written that showed up on Glenn Beck's website by Mr. Roth debunked and explained no greedy oil companies are not to blame for cast gas prices. That's a good lesson just in understanding everything that goes into that and then on to finish with kind of a creepy story that's gonna get more creepy as time goes by, the Google engineer who is just bounced out of there because he's claiming that there AI device which they call L LaMotta or whatever it's gotta acronym is sent to you.
Meaning it's self-aware, which takes you into all kinds of movies that we've all seen, not the least of which started Arnold Schwarzenegger right that whole series. So we'll get into that, but today as a reminder, if you don't flag on front of your house. I would like to suggest that you get one today is Flag Day, June 14 happens to be Pres. Trump's birthday turned 76 today.
I asked him about that yesterday.
Had a little fun with that but it is flag day because on June 14 in 1777. I was the first official American flag song Flag Day we celebrate that. Remember that and I I am an honest historian. That's why I started teaching US history this past year will continue that this fall Noble you school.com W that's the U Noble you school.com if you have students or org's sons or daughters or grandsons and granddaughters in high school or even eighth grade. I want to teach them US history accurately and through biblical linens or civic so that's Noble you school.com but I'm a very honest, humble US historian teacher now and there's the good there's the bad and the ugly. But I am deeply blessed and grateful that God by God's providence. I was born an American, I been raised in American I live in America and in many ways and in enjoying the fruit of the American experiment that's been going on for really that if you go all the way all the way back. Gotta go back about 500 years to fully understand it. Song Flag Day.
If you have a flag out for Flag Day for the upcoming Fourth of July listen I am not overlooking any of the troubling things from America's past or present, you know like 62 million dead babies on our watch what I am able to walk and chew gum at the same time and be deeply appreciative for all the amazing things that this country is done for me and is done for the world and the leadership is provided while at the same time being able to lament over the things that we should the mental so Flag Day today. Steve Noble will be right back where Drew visited Steely Dan welcome back at Steve Noble the Steve Noble show great to be with you and not like I mentioned earlier, if you can hear my interview with Pres. Trump. I yesterday make sure you check that I'll describe the podcast run all the major podcast platforms to get there or you can watch one when we played on the radio show that's on Facebook live or YouTube live you can go to the YouTube page, or the Facebook page. The Steve Noble show. Get there are links to all those things and all the radio stations were on all that kind of stuff, plus the podcast also is on our homepage at the regular website. Thus Steve Noble show.com and one thing self promoting. If you have children or grandchildren sons or daughters that's not offensive to you that I'm actually implying there's only two options high school or eighth grade and I've been teaching for 10 years now, taught over 600 students this fall right now. Got about 120 so far signed up and teaching US history, which is two semesters, honest, straightforward, incorporating the news the day so that things that happened 300 years ago all of a sudden makes sense in light of what's going on today.
It's really great way to teach. I generally I know how to teach because I do radio by this week, so it makes for really dynamic environment where you make it relevant US history, two semesters civics and Constitution to semesters Christian ethics is a one semester class that straight out of my Masters degree material so these are all really important classes, especially as we try to train the next generation who were to be taking things over as we go to be with the Lord.
And so it's such an important calling love doing it. I'm good at it, and students love it. Parents love it. It's really been a great thing. So if you have students or son or daughter grandchildren were in the homeschooling world or start putting this information out there as well. I want public school students to audit the class. No getaway reduced rate because they're probably not can have time to do homework and all the other stuff but I want them to sit quote unquote sit in on the lectures. So with the. The video that we've video classroom that were connection to everybody every week is the class I just taught because I incorporate breaking news of the day in the classroom.
Just like I do here in the show. I mean not. I can't teach any other way and that makes it very relevant brings alive because you see the material in the textbook and everything else that makes sense because looking at what's going on the world right now and you're like wow okay so this does matter. It is relevant to great way to teach.
So what they're going to see if they're taking it online is the class I literally just taught that week not doing ethics online lease, not yet. That's much more in depth in a conversational environment and but but US history and civics man you're watching the class, I just taught in incorporating the news the day so the class I taught last fall I can't play this fall because that was pre-Ukraine and then in the spring or talk about Ukraine and all this kind of stuff. So that's the way it works. So if you have children and grandchildren in the homeschool world or in public school in the just need to get the red pill version of US history accurate one. The non-leftist progressive version. The accurate one, because that's my allegiance is to the truth as Christian. Okay that's the deal. In the and civics or just massive ignorance and so I'm in a get public school students to hopefully audit those classes as well, and lease be with us and watch the lectures each week and my interaction with the students that better their age and a it's been awesome so working to keep working on that. Hopefully the Lord will bless that grow that every year and so that's out there. Noble you school.com Noble you that's like you is in University Noble you school.com and make sure if you know anybody else, and that that it had kids in that realm up suggested to really is unique because how many high school teachers you have that are actually talk radio shows that same probably not. Anyway, there's that. So let's talk about Karine Jean-Pierre, the new White House Press Secretary. This is just kinda sad. Are we doing to do 31 first. I do this is Steve Ducey's asking about the train wreck stock market that Pres. by try to take credit for not that long ago and now to train wrecks a check this out on should get your gauge on this. I was right about the stock market hitting record record record on my watch meeting the stock market will gain from so as you know we are watching watching closely. We know families are concerned about inflation in the stock market. That is something that the president is is really aware of and so we face global challenges we talked about this. This is were not the only country dealing with what were seen as it relates to inflation and price hike inflation coming coming out of a once in a generation global pandemic. All all of those things really are nectar and missing the way that we see this is that the American people are well-positioned to face these challenges because they are economic historic gains that we have made under this president. Under this present the last 16 months. What did she answer there's not really an answer right should see clips to her page and her three ring binder was that they ask about stock market. Here's your answer, which is just go around, go around, go round denying I rephrase and she's just tumbling all over the place and in Americans are well situated to to bear this really how will the average American family doesn't even have enough money in savings to pay for thousand dollar car repair. How are they really situated to deal with this. There's so detached it's so offensive to me that they won't engage in real conversation but that's not her job.
Her job is to cover for the administration at your job and unfortunately she's terrible at. I admit it should just become a bumbling and then this is play the Don LeMond one solicit Don Lamont.
She's on see it and where she assume she's in friendly territory right but he brings up a camp apparently not a sacred cow on the left, talking about the mental and physical health of this president to listen to this and just the way she handles this is just ridiculous… Because reading Karine Jean-Pierre with Don LeMond from CNET go to present have the stamina physically and mentally anything to continue on even after 20 24.0 my gosh you know he can't even keep up with it.
We just got back from New Mexico. We just got back from California. That is, that is not a question that we should be asking. Just look at the work that he doesn't look what he's how he's delivering for the American public that what that that article that were talking about is hearsay, salacious, that's what we care about.
We care about how we going to deliver for the American people how we going what Acree Ms. Sharon peer. What planet do you currently live on me.
This is remarkable to me when you make a kit you can even ask the question why not because Don LeMond you're a lab you live, can ask the question about the president's mental and physical stamina and ability going into 2024, which is two years away. You can ask that question. Only white Republicans asked that question. The patriarchy asked that question white supremacist asked that question.
Pro-lifers asked that question. We don't ask that question white, why not me and why is that off the table and unfortunately I mean this to sound horrible, but she doesn't communicate a whole lot more effectively than her boss and she does all over the map, and kinesthetic. What is the president I can keep up with really well that that's not great and that's that's our White House press secretary will not are she got elected, but hits it is just it's just unbelievable that she's want, but that's her job and will see how long it lasts severely interest in being the White House Press Secretary. Maybe. Maybe put your resume in, but if you if you have a problem dodging questions. You struggle a little to why paint over things not tell the truth, and perhaps that your hubs not for you. Right when we come back we'll talk about protecting your screen for justices is a picture of the screenwriter what you doing, who is that I'll talk to my Internet White House justices are just a bunch of Noble to Steve Nobles.
That's why let it play and continuing on lots of different you and some points to make.
Always through a biblical lenses accurately as I can. Okay I'm always processing all this stuff through biblical lands, but my flesh is fully engaged as well. So everyone tromped to snarky and all make fun of things that I probably should make fun of road so I walk away from the studio. Mike okay Lord that some of the best I can but that's the way we should do this as we take in the new stories the day or movie or whatever. You know like the upcoming Disney Pixar movie about the origin story of Buzz light year so they had a gay kiss and there is an effort American gal that's part of the story line because it really looks really cool Pixar just keeps doing better and better and more amazing animation all the time but then they had to get a kiss and there they took that out this one lesbian character and her partner whatever and they took that out.
But then once Disney publicly over the last couple months which we've covered here on the show and played a lot of video and they're just going all in on the LGBT Q plus plus i.e. whatever agenda I know they been doing that for a while but now they're fully out of a closet fully engaged fly that up to the flagpole at the top of the Magic Kingdom Castle and they're not hiding anything so they put it back in so that's coming out. I think June 17 is coming up this weekend. Buzz light year which otherwise looks really cool and I got a wrestle with you know I can. I can handle that, obviously, is an adult, but do you take your six-year-old or seven-year-old and again that's why I'm a talk here in a second about school board stop because they're just planting these little seeds over time little seed here little see their water little miracle grow it starts when they're in kindergarten.
By the time in six grade you like what happened in my kit.
That's because they been given they been marinating in all kinds of progressive liberal godless garbage and you thought you were just sending them off to some nice teachers down the street and everything was fine. It's not all ask you the same plan that thing. Question I would ask Karine Jean-Pierre at the White House press secretary office. What planet do you live on the planet Earth friend.
The place is deeply broken and dark and getting darker swifter engaged. Speaking of dark and getting darker so yet you knew about this.
The what almost turned into a look like an assassination template attempt on Judge Cavanaugh and so the house finally finally just today passed a bill of 396 to 27, 27, voted against this, the bill is to increase security for sprinkler justices, immediate families on Tuesday approving a measure that it already been passed by unanimous consent in the Senate, so the Senate they got it right. But in the house. 27 people chose not to say yes to that bill. We want to provide additional protection for Supreme Court justices, you know, since there's assassination attempts and stuff like that going on in people crazy degenerate reprobate mind people showing up outside of their houses now because the Roe versus Wade impending decision. Please Lord let it get overthrown and 27 people said no and I can pass that when I'm voting against that. What party do you think those 27 people were member of oh Craig Cass the Democrat party. The bill expands an existing statute. The currently only covers the justices themselves as well as spring court officers and employees, of course, there is a federal law. Did you know that prohibits any kind of of a protest. Any activity going on outside the offices or homes private places of just federal judges, because that's you're trying to influence the judge. It's like tampering with the jury to same thing. There's a federal law against that and they're not enforcing it. Not once, not buying. He doesn't say one word about it. He's all for the American way protesting your except in this case due to it's against the law. The federal law what you're supposed to be the enforcer of federal law. That's the president job. The executive branch enforces the laws Congress passes the laws. The legislative branch, use or enforce the laws but you don't want to enforce this one because you bow down at the altar of killing babies otherwise known as abortion. So he says nothing about even the federal law. AOC was actually trying to block this the other day in the house because she was mad they didn't pass gun legislation first to get that done.
Also, we can but that's what she said, oh, so we can pass protections for us in here easily right but we can't pass protection for everyday people. I think not. So she was actively trying to get that one even voted on which you lost in the course. She voted against it.
AOC. So pray for our chief justices that this keeps happening. We just just full digs that the judicial branch right into the legislative branch is not just another political tool that you can manipulate by protest and intimidation and just scare and then what good men and women that could and would serve well in the Supreme Court want that job if I wanted to risk my life to join the military not choose to be a federal judge and then have that incredible honor being nominated to be on the Supreme Court, but no it's gonna risk not only my life but my family's life. Forget it. That's why we have federal laws against Mr. Biden right only to the school board thing. Sorry, wake County, one of the biggest school systems in the country. This is great. I love this. I love this title of this is in the news and disturb her locally wake wake school board will be up for grabs this year. Majority won't see collection praise the Lord. Do you know what the deal is with your school board where you live. If you're not here in the Raleigh area, wake County.
Do you know what that deals with their schoolboard friend you better find out.
Love your neighbor as yourself will see my kids are in school that you think that matters. It doesn't love your neighbor as yourself.
Yet my kids are all grown love your neighbor as yourself. You, but I don't have kids about school. We homeschool love your neighbor as yourself.
Like I said, Mike. It's a private Christian school. Awesome. Good for you. Love your neighbor as yourself doesn't matter whether your kids are in there doesn't matter what you have kids you love your neighbor as yourself, and our children are being emotionally, spiritually, mentally abused in many many ways in the public school system.
So how can you turn a blind eye to that you should not nor can you be a set you're walking by the guy on the side of the road. That's why Jesus told that story so we schoolboard up for grabs, the wake County school board will see major turnover this year. Thank you Jesus as a majority of its members don't plan to seek reelection, delete North Carolina's largest school system for the nine school board members say they won't run for another term in 1/5 member says it's unlikely she'll seek reelection this fall's election could decide whether weight continues to have a left leaning, that's an understatement. Schoolboard majority or shift to a more conservative direction when Chet by the way, there used to be a conservative control of the wake County school board here locally.
That was about 11 years ago and that we get all infatuated with the federal level and we just given over and so liberals and liberal leaning a couple of one quote Republicans or conservatives." Who have been very liberal leaning in their activities there, but it's controlled by liberals and so that you squeeze a lemon when you get lemon juice and so maybe they're just getting out of there because they don't want to face you know us and so there's at least four or five great candidates here locally been running for the wake County school board Michelle Amaro was on this recently have met all the other ones I want to start having him on the show here later this summer and all the way up until November and we have to get to work to take over the school board here in wake County. We have to take it over conservative right 90 people right minded people that happen to be Democrats.
I don't want our kids being sexualized and groomed in a really dangerous disturbing worldview.
Like the whole gender thing in first grade and second grade and a pregnant man a flip card to should teach you the color white imprint prekindergarten. That's what's going on out there and so you you don't you don't negotiate with that you take it over. And here in wake County and by the way, this is a nonpartisan rate. So when you go vote in November.
You won't know who the Republicans. The Democrats are except your good old buddy Steve Noble will tell you is, I'll give you list up to exactly usable for and that's my personal list I don't share that for years, but working if each of these people in them. And if you don't live here in wake County. You better get educated hopefully you are already God bless you.
But you better get educated about what's going on in your own schoolboard your own backyard and again it doesn't matter whether you have kids and they're not already have kids at all if you're calling yourself a Christ follower.
If you're Christian you love your neighbor as yourself, and our neighbors kids as well as for many of us our own are being abused and have been for years to this godless messed up progressive ideology that shot through the public school system, which was a reminder to me about the NSP aid to domestic terrorism letter member that with the Biden FBI and Mayor Garland Wisconsin Associates in school was not exactly a conservative bastion voted Tuesday not to renew its membership of the national school Board Association. Thank goodness. So there would getting whittled down 19 states have withdrawn their memberships and thought all happened last fall. That's great. And then in the 30 toll 30 states total distance themselves" by denouncing that FBI letter and your state is your state a part of this is your are you part of the national school Board Association because they were the ones behind wanting to label any concern parent that shows up at a school board meeting and presses back against this garbage that's out there.
Oh, you're like a domestic terrorist. Please get educated. Please, you have to get educated. To quote so many people on the other side of the aisle for our children okay for our children if they make it a little. I don't start this one.
I just with the headline debunked and explained no greedy oil companies are not to blame for gas prices. This is a little lengthy but I want to get through it. That's a great economics lesson on why do we pay five dollars and average gallon of five dollars a gallon average is a lot that goes in there you blame which we love to do so. The little Econ 101 lesson we come back and if I have time Google and their Cynthia AI. Looking back at Steve Noble to Steve Noble show when you can fill up your tank. My question for you.
Are you doing it like a little earlier now than you did. A few months ago as you like what I've got half a tank, but in three days when I'm really need to fill up gas might be $0.10 more per gallon that it is right now by bugs in it.5 bucks a gallon for regular average across the country now first in history and are you making that you make in those kinds of choices like Philip now to go get the CAT scans for my what is not the economy, the invite my environmentally distraught destroying destructive lumbar medical Philip those 5 gallon tanks now because gases can be $0.25 more a gallon in about a month and lovable blah that's not the real questions that a lot of Americans are dealing with whole lot of Americans most of America. Americans are not sitting on much money and I just heard a reporter earlier today that credit card debt rose 20% last month. That's a surefire fire sign that people are just they just don't have the cash flow to do it. So the grab and these are MasterCard or American Express or whatever and slap it on. There is going to take a summer vacation or whatever and so they're doing that so credit card debt went up 20% in May that that's that's alarming, scary stuff, but gas prices okay this was just that I thought a good article to link him to get to the whole thing just a good lesson, a reminder of how gas prices are determined okay with giving is politicizing is broken down to soundbites. It's Biden it's prudent depends on the yes with a lot more to it than that's all I want to do this, just as a courtesy to all of us to some basic economics when it comes to gas prices. This was from the blaze yesterday US gas prices and an average of five dollars a gallon but is really to blame probably helpful to start with the breakdown of the components of the gas price, the cost of crude oil is the biggest cost component of got a gallon of gas can skew the cost in January via the US energy information administration, the cost of crude in January was just over half the cost of gasoline at 52% in February it was 61% and as of March 2022 was 59% of the total cost of a gallon of regular gasoline given its overall waiting to cause changes to crude oil prices have an outsized impact on final gas prices. So when you look at the price upon yet. That's a direct reflection of crude oil so you jump on your you jump on your app on your phone if you go look at the markets and you look at the cost of crude oil and you're like okay hundred 18 bucks a barrel right now in a year ago. It was about half that. So that's good. Have you jump right. The remaining major cost areas include refining, marketing and distribution and taxes as of March 2022. Refining was about 18% of the total cost distribution and marketing. About 12% in taxes, both federal, state and local about 12% is worth noting that the gas stations make very little and they don't reap windfalls when prices go up zero like was rough talking get there price gouging right. They don't make much money.
Most gas stations are indefinitely operated. It's estimated that a retailers markup in a gallon of gas is around $0.15 in the profit after expenses averages around two cents per gallon. So when you go fill up at the little gas station down the street from you, and you put 14 gallons in the tank. They made about $0.28.
I didn't know that that's that's why when you walk inside the store there selling everything is like turning into a clash of Home Depot and target and the ABC store means crazy many things you can buy that will that they have to do that sky like a movie theater movie theaters make much money off the movie tickets and make other money off the food and the drinks you get same things going on in the gas station so only two cents per gallon on average as their actual profit. Think about that the next fill up the cost of crude oil set by factors of supply and demand is also a major oil cartel that decides how much to produce at a given time is called OPEC which factors heavily in supply. On the demand side, the world is seen massive shifts because of decisions made around the world related to the pandemic. Of course, and the changes in behaviors that brought it about.
That brought about as people are locked down to man plummet right you didn't do as much were driving around can't go out as much and as people emerge from lockdowns demand increased when China fully emerges from another series of lockdowns as the number one importer of oil in the world that will add demand to the worldwide market which also shift the price in 2021, the US used almost 20 million barrels per day which is why we can all laugh, and Pres. Biden comes ounces hey were gonna release some of the emergency inventory of the US strategic reserves were to release you know 50,000 gallons or whatever whatever he says its member we we cook for about 20 million barrels a day. Sony says were to release half of half a million barrels total nearly oak.
Whatever that doesn't mean anything, just a political pathologist on the supply side. In addition to the whims of OPEC a variety of domestic and international factors impact oil production. The push for green energy has thwarted the progress that the US was making an energy independence and increasing supply that was under trump the bind administration canceling oil and gas leases shutting down pipeline progress and having substantial red trait tape for drilling and production all factor into the market calculations on what supply will be like today and going forward. Additionally, the demonization of this critical industry, including the push of ESG. That's environment, social and governance initiatives. We talked about that recently in the show to direct capital away from traditional energy projects has led to substantial underinvestment in the sector, which also materially impacts the supply side of the equation because there is not an much capital going into these businesses. Okay that's going to affect how much they can produce.
It's estimated that as much as $1 trillion in investment has been postponed or canceled. Over the past few years with a large part of that related to the ESG and green energy pushes so this is coming in and downgrading companies because they're not environmentally conscious enough, they don't have enough LGBT Q and people of color and then they're not part of big government push right so it's like an ESG score. We talked about that recently and just the green energy push in general. According to the US energy information administration, looking at the US Field production of crude oil, while the US was producing almost 13 million barrels per day of crude before the pandemic were now only 11.65 million barrels per day.
As of March 2022. Okay so there's that's a significant loss. That's an effect. Prices Europe is largely done the same and is paying the price quite literally the Russian invasion of Ukraine took already increasing prices and added a new supply constrained on them to some extent so you can't blame everything on food. Okay.
Of course at the US and Europe had been leaning in the more traditional sources of energy.
The supply would be closer to parity with the man than it is in today even without the invasion. There is also monetary policy component to this, the Federal Reserve, what you talked about Dave Fisher yesterday had been managing interest rates appropriately and not printing trillions of dollars we would be seeing inflation and everything. Then there's refining people tend to forget about some of the other cost of gasoline refining is the process that turns the crude oil into not only gasoline but a variety of other products. These these cost depend on the time a year. Angiography input cost of items that may be refined with the gasoline can also impact this cost like think about ethanol. The supply constrained labor market which were in also makes wages more expensive throughout the organizations that do the refining and when your wages go up. Your cost goes up when your cost goes up your price goes up right. That's how you make money got it got increase your prices, distribution, marketing, oil needs to get from its location to the refinery. Once oil is process in the gasoline it doesn't magically appear at the gas stations all the distribution related to eventually getting gas to you is intricate and expensive given that listen to this energy is required to transport the oil and gas, increasing energy causes costs end up being a double whammy for you at the pump again. The labor market is also making wages and distribution more expensive.
So as the price of gas because goes up the cost of moving around the country goes up, thereby double whammy increasing the cost of gas at the pump sir really getting it from all directions.
Then he got taxes estimates that an average $0.57 per gallon of gasoline goes to taxes, federal taxes, constant 18.4 cents state local taxes very widely, which is like pure North Carolina and you want to spend less on your tank, go to Virginia or down to South Carolina because their state gas tax lower at least is better than in Europe. According to firm UH Y says that on average, taxes comprise 59% of the cost of the price petrol and 52% of the cost. The price of diesel. Ouch. Sure, the oil companies and grieved the blame is noted, the biggest component price and gasoline is set by the market with a thumb on the scale from OPEC, especially when trump sent in office and were not producing as much of our energy during the sharp reduction in demand during the pandemic. Major oil companies took huge losses. The five biggest companies, big oil, as we like to call and lost a combined $76 billion, but if you need a gas right they were still there for us. Furthermore, nobody offered to pay more to help out, that's for sure. Now the demand is increased far ahead of supply. The market is driven crude prices up which is given the more revenue and is that works. Of course, more profit in June.
In a June 10 tweet FOXBusiness host Charles Payne's excellent said in 2020. Exxon lost $22.4 billion.
The federal government made 25.8 billion gas taxes seem to while people like to look for a scapegoat price gouging isn't what we're seeing today was easy to focus on gas prices because you see them every day supply demand imbalance and the availability versus the need for traditional energy sources shows up elsewhere. It flows to the entire economy from the cost of moving goods and components for services to their destinations to a myriad of byproducts, including those impacting the availability and cost of food, some may say that price controls of the answer. They're never the answer. You may hear that we should nationalize oil companies see Venezuela. The reality is, is the punchline we need energy. Thank you Mr. Trump. We need lots of it anymore of all kinds of energy, while new Greener sources of energy are being developed and scale, which is fine. We should side-by-side be investing in more traditional sources of energy. As well, including that nuclear energy enter bite it and all the progress of the they're not doing that. They want to go to the green new deal, thinking that can be done in five years you train wreck everybody and everything by trying to do that it's impossible to come out and said hey we've got a 30 year plan a 40 year plan a 50 year plan as we know, we love to get to some other forms of energy so that were not held captive by oil supplies, but oil is the deal today. That is reality serving to deal with reality and try to create some new ones in the future and kinda work side-by-side. That's clearheaded thinking, politics, just a little lesson there for all of us pray for our nation is trump sent another program powered by the Truth Network