giving to 100% clean electricity by 2025. i lease a chevy volt myself, and i lease a solar panel that are on my garage. that means that literally i am thriving on sunshine. come great, i had no idea we had a secretary for nonsense. but apparently we do. get this, according to a new report from a power industry group, a big portion of the nation is now at a high risk of summer blackouts. so ask yourself, if you can t afford solar panels like the secretary, but you can somehow get your hands on an electric car, how are you supposed to charge it if the power is out? here with reaction, fox business contributor, phil flynn. phil, we see this, americans don t seem to somehow connect and certainly the left doesn t remind them that electricity is
sandra. john: john, jeff, thank you. price futures group senior analyst and fox business contributor. i want to get right to this, the news from the white house, she said the white house and president biden have no strategic interest in banning russian oil imports into the united states. at the center of the debate and obviously the oil sales at the center of this war. nancy pelosi, though, said this earlier, listen. i ll all for that, ban it. ban the oil? ban the oil coming from russia, yep. oh, ok. so, a little bit of division on that front. what does it mean for the oil market considering we are looking at $116 oil? i think what it means right now, what jeff just showed you, prices are going to keep going up because this administration really has a total disjoint in emergency policy from day one and we are all paying the price
in venezuela, maduro s oil. that is the devil s bargain this administration appears to be about to enter into. and we don t expect any public pressure by president biden on president putin today, he does not have any public events on the schedule. everything from the administration we believe is going to come from jen psaki and that s going to happen in the next ten minutes or so. john. john: i m sure there will be a lot of questions buying oil from iran and oil from venezuela, we did get the statement from olaf scholz s office, that europe cannot afford to ban imports of russian oil, no other way to make it up. that s going nowhere fast. that may make the coordination a little more tricky. john: i said, the definition is in the eye of the beholder. sandra: back to the white house when that briefing is underway. first, an oil trader, senior market and the lift, fox
sandra: ok, grady in illinois, thank you. phil flynn also in illinois, in chicago. oil trader senior, market analyst, and fox business contributor. phil, how should we see the current situation. some are looking at the drop in oil and quickly see the drop in gasoline prices. how does it work, phil? it does. usually they go up like a rocket, come down with feathers, and on the way up they usually lose money when prices go up. they try to stay competitive on the jumps so they don t raise prices as much. so when they come down, they have to be careful and because of the volatility of the market they have to be very careful they don t lower prices too much because if they do, then they might not be able to afford to refill those tarngs and that s a big issue. the retail industry right now
higher when it comes to inflation. phil flynn senior analyst and fox business contributor joins me now. first of all president biden announced the u.s. would send more natural gas to europe to help it break its dependence on russian energy. please try to help me figure this out and understand. the problem is that the united states doesn t have enough capacity to export more gas number one and europe doesn t have the capacity to import more. how would this move make any difference? it s a step in the right direction to move towards more lng exports. this is a booming new industry developed by the u.s. energy industry that has changed the world. the only reason the u.s. can export any natural gas at all is because of the u.s. energy industry cracking the coke on fracking and we went from being natural gas dependent from countries like canadien to becoming a net exporter.