RUSH TRANSCRIPT Carley let ░░░░░░░░ bring in Patrick Kennedy ░░░░░░░░ taxpayer protection alliance Patrick ░░░░░░░░ is a shortage in ░░░░░░░░ heating oil but in ░░░░░░░░ than increase the supply ░░░░░░░░ billion in additional spending ░░░░░░░░ help people pay for ░░░░░░░░ energy bills What do ░░░░░░░░ make of this plan ░░░░░░░░ absolutely The Biden Administration ░░░░░░░░ to be personally what ░░░░░░░░ call paper straw on ░░░░░░░░ policy It has fallen ░░░░░░░░ on them real quick ░░░░░░░░ is unseen mobile pout ░░░░░░░░ administration is on When ░░░░░░░░ have explained in Mary ░░░░░░░░ will drive the price ░░░░░░░░ higher They are not ░░░░░░░░ anything with addressing the ░░░░░░░░ problem with lack of ░░░░░░░░ This administration is primarily ░░░░░░░░ for that And then ░░░░░░░░ antagonistic plastic since day ░░░░░░░░ for canceling the Keystone ░░░░░░░░ to rolling back the ░░░░░░░░ forms of the Trump ░░░░░░░░ put in place Oil ░░░░░░░░ gas companies have no ░░░░░░░░ in this administration and ░░░░░░░░ see that reflected in ░░░░░░░░ gold markets Carley sounds ░░░░░░░░ this falls under Britain ░░░░░░░░ terrifying words I m ░░░░░░░░ from the government What ░░░░░░░░ an additional 13 billion ░░░░░░░░ spending do when an ░░░░░░░░ cycle What do you ░░░░░░░░ Joe Powell was saying ░░░░░░░░ rates to combat inflation ░░░░░░░░ absolutely The administration and ░░░░░░░░ Fed seem to be ░░░░░░░░ odds with each other ░░░░░░░░ completely sustainable path with ░░░░░░░░ billion in the federal ░░░░░░░░ a drop in the ░░░░░░░░ but it s not ░░░░░░░░ The administration is not ░░░░░░░░ anything sustainable till oil ░░░░░░░░ gas traders that the ░░░░░░░░ will come down The ░░░░░░░░ produced in the United ░░░░░░░░ and other countries and ░░░░░░░░ coming down here they ░░░░░░░░ not doing anything about ░░░░░░░░ or regulations Now sec ░░░░░░░░ that are being promulgated ░░░░░░░░ talk about climate related ░░░░░░░░ that are inhibiting oil ░░░░░░░░ gas investment The administration ░░░░░░░░ not doing anything in ░░░░░░░░ long term touting oil ░░░░░░░░ gas research and more ░░░░░░░░ to produce in stable ░░░░░░░░ like the United States ░░░░░░░░ will see global markets ░░░░░░░░ that and the price ░░░░░░░░ gas will remain high ░░░░░░░░ a vicious cycle you ░░░░░░░░ people more money to ░░░░░░░░ their bills because it ░░░░░░░░ high That will increase ░░░░░░░░ price of those bills ░░░░░░░░ it more difficult to ░░░░░░░░ them down the road ░░░░░░░░ president is also at ░░░░░░░░ with energy companies He ░░░░░░░░ saying and threatening this ░░░░░░░░ tax on profits because ░░░░░░░░ say they are making ░░░░░░░░ much money off high ░░░░░░░░ prices Is that true ░░░░░░░░ do you make of ░░░░░░░░ plan Yeah the plan ░░░░░░░░ totally ridiculous It doesn ░░░░░░░░ reflect the reality of ░░░░░░░░ markets which is oil ░░░░░░░░ traded on a global ░░░░░░░░ And that these companies ░░░░░░░░ t have the ability ░░░░░░░░ set the prices themselves ░░░░░░░░ is set by commodity ░░░░░░░░ The commodity traders are ░░░░░░░░ at long term policies ░░░░░░░░ the Biden Administration which ░░░░░░░░ again come antagonistic to ░░░░░░░░ and gas They want ░░░░░░░░ cancel Keystone pipeline People ░░░░░░░░ the trends are not ░░░░░░░░ the administration is doing ░░░░░░░░ gimmicks before to try ░░░░░░░░ win an election So ░░░░░░░░ price is going to ░░░░░░░░ high until there is ░░░░░░░░ sustained long term change ░░░░░░░░ the administration s policies ░░░░░░░░ have a feeling right ░░░░░░░░ the election you will ░░░░░░░░ the administration go back ░░░░░░░░ its original policies of ░░░░░░░░ to produce oil and ░░░░░░░░ production in the United ░░░░░░░░ What they are trying ░░░░░░░░ do to win back ░░░░░░░░ couple of votes with ░░░░░░░░ margin will not actually ░░░░░░░░ in the long run ░░░░░░░░ when do you think ░░░░░░░░ will go down to ░░░░░░░░ levels This is the ░░░░░░░░ one concern on everyone ░░░░░░░░ mind right now The ░░░░░░░░ with inflation right psychological ░░░░░░░░ as well The administration ░░░░░░░░ to pursue policies that ░░░░░░░░ expect will cause inflation ░░░░░░░░ you get this vicious ░░░░░░░░ where they administration continues ░░░░░░░░ spend and spend and ░░░░░░░░ That is causing people ░░░░░░░░ raise crisis in anticipation ░░░░░░░░ what they expect to ░░░░░░░░ which is additional inflation ░░░░░░░░ until the administration and ░░░░░░░░ Congress is able to ░░░░░░░░ in spending you will ░░░░░░░░ to have inflationary pressures ░░░░░░░░ have seen record levels ░░░░░░░░ federal spending and until ░░░░░░░░ government makes a significant ░░░░░░░░ to reduce spending you ░░░░░░░░ not going to see ░░░░░░░░ to reduce prices or ░░░░░░░░ price increases to control ░░░░░░░░ Carley the president will ░░░░░░░░ about student loan debt ░░░░░░░░ later today which is ░░░░░░░░ billions of dollars of ░░░░░░░░ that is not needed ░░░░░░░░ now Patrick Hedger thank ░░░░░░░░ for joining us.