resources and without providing relief to the american taxpayer. neil: and granting you a permit and/or lease doesn t mean it s quickly approved. it might look and sound tempting, but it can still run you through the riggers, getting it finalized. and where does it go the prices going higher? could the very high prices and high interest rates we re seeing lead to the kind of slowdown to, sadly, brings on a recession, but the flip side is all of these prices go down as a result? is that what it s going to take? well, that s a good question and the last thing anybody wants in their own market is demand collapse and i think the industry is very cognitive, cognitive of that so that s why we re race to go get as many rigs up in the air as we possibly can, to build out our infrastructure and work around the registry obstacles that the white house is putting in place. our goal is to be able to provide energy and the
mean in everyday life? this week i visited a discount store in northern california, and here s what consumers are saying. rising prices are affecting me around every angle; gas, groceries, markets are down, crypto s down, everything s down. so i m here trying to fight back. reporter: it was so disheartening to see how much people are struggling to buy the essentials. they re so tired. and yet you could also hear some hope in his voice, hope that soon he will maybe find some relief. we ve still got prices very high, neil. neil: indeed, we do. the wholesale and the retail front, it is unending, to your point. thank you very much for that, kelly o grady in los angeles. speaking of los angeles, in california they re going to be raising the minimum wage next year to try to keep up with this. it ll be around $15 minute 50 an hour. 15.50 an hour, that would be the nation s highest state minimum wage. others are expected to follow but, again, the spiral effect of
food prices too have gone up. nothing s being done about it. it s going to kill the people, these diesel prices. they have no i have no choice but to fill up my tank. there s no other choice. definitely too much. and it has to change, hopefully soon. neil: it is the story of the week, and right now it is hitting americans hard. i m talking about inflation, and it is still out of control. here s how bad things are getting. we re grateful if the rise isn t as dramatic as we had experienced in just the prior month. that is the state of things now with prices spiking at near 40-year highs. the last time we saw that is when jimmy carter was president. concerns that we re seeing the same thing roll out now and rolling around hoping for relief. good luck on that front. but kelly o grady on how customers and you are feeling. kelly. reporter: hi, neil. well, week we saw new inflation data with april s consumer price
it. well, first of all, the fed s been way behind the curve as well. they are neil: right. high flakes. i said i think a year ago on this show, neil, that inflation was a big problem and that it was going to get worse. and unfortunately, i and many others like larry summers were right about this. look, the key statistics that you just cited a little bit earlier, when trump left office, the inflation was 1.5%. 15 months later it s at 8.5% and biden s going to blame everybody but himself? i mean, you had the $3 trillion of spending and borrowing that just deluged the economy with cheap money. and it s as plain as the sun is rising in the east that that s going to cause inflation. and yet, again, what, we re going to have $1.5 trillion for student loan debt, another $35 billion for ukraine relief, this absurd competitiveness bill which is just a big corporate welfare bill, you know, $300
that, and especially it looks cheap if he can get twitter for $10 billion cheaper. neil: real quickly, for tesla a lot of tesla shareholders were nervous that he might get his eye off the ball here and that was the currency, certainly the collateral he was going to use to buy this. yeah. neil: the stock was moving up over the last couple of days on the notion that maybe this isn t such a sure thing. that would be a relief if you re a he s tesla shareholder yeah, you know, elon musk already heads up two big companies, spacex launching rockets, and tesla which it was worth a trillion dollars up until recently. but he s pledging $20 billion of his own shares. he s pledging roughly around 10% of his own private wealth and worth to buy twitter. but again, as i said to you with the stock collapse that we ve seen, you know, the whole calculus has changed and whether or not, you know, he wants to put up that kind of money in these type of uncertain times.