just last night it jumped to 4:25. a week ago it was $3.65. we ve never seen the speed of an advance like this. john, i really want to make sure americans aren t overreacting to gas prices here. if you want to go back to the record high in 2008, to match that adjusted for inflation, it has to be $5.25. i have a lot of people forecasting $5 national average for gas. keep in mind adjusted for inflation, this wouldn t be a record. with consumers able to cushion their blow in the near term by reducing their savings, we think oil prices would need to rise much higher to seriously hurt the american economy. there could be a lot of investment in shale. we are an energy powerhouse in the united states. these might cause us to start producing more. they have to see the availability of profit later on.
on the lease and then you have to get more federal permits to develop it. this is all about red tape. this is not about getting american energy development going again. we want to make sure american producers can produce here in america and become that energy powerhouse that we have been over the course of the last decade. bill: here is where the pressure goes. today $4.31 is a record high for the u.s. yesterday 4.25. a month ago 3.47. a year ago 2.60, right? so here begets the question then. day one in office, mike, right? you have keystone, you got the paris climate accord, you have anwar in alaska and you just wonder about the pressure on the consumer and how that transfers to the pressure on the white house s policy over the next six months perhaps. so i would ask you whether or not is their policy set in