more effective, and it s far more pro-market, pro-economic growth, pro-business than in louisiana. for hundreds of thousands of texas business small business owners facing a uncertain future, there is a silver lining. the nation needs houston. its workers and economy, one-third of u.s. gasoline supplies refined there from many fuel pipelines, industries lifeblood emanates from the gulf coast. the port of houston is a very, very big deal. it accounts for $250 billion plus of economic activity across the state of texas and beyond every year. it is that reality that has shifted debate in washington. to the returning republican congressman s priorities have been reset. i do not expect president trump is going to continue talking about a potential shutdown. a lot of republicans will be eager to provide help alongside with democrats. but congress new priority
to run exxonmobil, this area of the country is the heart of the nation s energy business. 50% of refinement and capacity right now probably climbing is knocked out. that hurts gasoline supplies and will send prices up, is sending gasoline up at this moment. i don t want to make it about ten dollars and business, but this is critical to keeping the whole country operating. and that is producing gasoline. so i think it is important to have that kind of leadership in the white house as well. as i try to get these refineries back up and running and producing gasoline and distributing it throughout the country. sandra: that s a really good point, how has he delegated expertise, and a great point about rex tillerson who has really a solid and deep understanding of how energy functions in this country, and the fact that you are not hearing the president attacked so far me and said he has not done anything catastrophically wrong, because if he had may be
the fox business network s peter barnes is with us now. he is live at a gas station in chevy chase, maryland. how do people say they are changing their vacation plans. the coat on memorial day might have part of it. yeah. cold front came in through here, shepard. i don t think i m going to the beach tomorrow but it is the official start of the unofficial start of the summer holiday season. and it is starting with the highest gas prices for a memorial day in two years with prices for regular gallon of gas up 15 cents just in the last month alone. and in 8 states according to a.a.a. gas is above $4 a gallon. part of the reason as you mentioned, is because of refineries with maintenance and repair issues. which has hurt gasoline supplies. triple a surveyed drivers about whether higher prices would effect their memorial day travel plans. and about two thirds of the
right now we are looking at more homes without electricity in this region after hurricane sandy one week later than we were looking in the aftermath of hurricane katrina. this is a response and a relief effort that is woefully inadequate. we have people without gasoline. we have people without power. now it s almost a million and a half people. came down about a half million from the weekend. it is a very tough job. but let s be clear. we have an emergency situation here in this federal government is not responding. it is not doing what it should help. we are supposed to have gasoline supplies and hundreds of thousands of people they don t have power to run their generators. we are supposed to have gasoline for the people, the motorists, the commuters, those were trying to go about their work lives without heat and without power in their homes and their kids
or is it just the world is going back into something bad? guest: something is going bad. supplies are at a 30-year high for crude oil. but gasoline supplies are at the lowest level they have been since 2009. president obama in the debate said the reason why the gasoline prices are low is because the who was sick. i am afraid what is happening in gasoline prices is because the economy is sticking in the united states and in europe and the uncertain cities that are killing the demand expectations and the reason we have seen the we gasoline prices plummet. this will not affect facilities in the gulf coast because there more in the gulf coast than off the east coast, right? guest: it is. you are starting to see the gasoline outages we have has affected different parts of the country in different ways. in california prices were going to record highs but in tulsa, oklahoma, prices were