in this case, it is quite jam packed. we re covering what s gown on in saudi arabia, all of that and vladimir putin going to that neck of woods, iran next week. let s talk about what happened this week with the president s trip, wrapped up now in the royal kingdom. peter doocy in jeddah, saudi arabia, with more. peter. reporter: neil, the president is aboard air force one. we expect him to take off for joint base andrews in maryland any minute. he came to the middle east looking for gulf leaders to boost oil production capacity because he thinks that might help lower gas prices back at home. but he just got some bad news from the saki crown prince saudi crown prince who basically said they can t really increase their oil production capacity much more. finish translator: the kingdom will play its role in this era to increase the level of maximum sustainable production capacity to more than 13 million barrels. beyond that, the king.com will not have any kingdom will n
joe manchin putting the brakes on this whole thing. i think the rest of the party is completely tone deaf. from the reserve side, they can t control the supply issue, they can only destroy demand to bring demand down and supply and demand will come into balance. it s going to take a while. we way over extended, went on way too long stimulating, holding rates to zero, we did it for 13 years, it didn t just happen during covid. it started in 09 in the middle of the crisis. if you think about it, they ve had interest rates at zero and stimulating for 13 years. if anyone thinks we ll get out of this in two or three months, they re sadly mistaken. rethink that. we re 9.1% and in my mind i think we re already over 10, 11% in inflation if you kind of look at everything else around you and this is is perfect example. once you took off food and energy, it s higher than last month and everything else is increasing in value or increasing in cost and senior and people are making decisions
secretary jim mattis, talking about the shutdown. reporter: secretary mattis has weighed in on the effect the shutdown will have oni ongoing military operations. he had active operations, troops fighting in iraq, afghanistan, will not be affected. but he said 50% of dod civil ias would be furloughed. reserved training would be affected. there would be all kinds of training operations, especially on the reserve side, which u.s. forces so heavily rely on right now. he gave both sides of it. just one quick note on when soldiers get paid and when military personnel get paid, the general rule, if you re wearing a uniform here on overseas, the shutdown requires you to come to work. you won t be paid. however, payment comes here on the first of the month and the 15th of the month. unless you have until the beginning of next month to try to sort that out. and a lot of the credit unions,
allowed to drill. bill: do the saudis benefit by overstating. no, by leaking this stuff, saying, world, be careful, we may not that he have reserves we think we have and guess what happens to price, it goes up and, if the saudis are running out of oil the price of oil will go up and if the saudis don t have 180, 200 years of production, maybe the russians do or we do here and we need to get aggressive about drilling policy, which is more important than how many barrels various countries have in reserve. bill: one more point. is there any way to verify the report? it is underground, in a foreign country, overseas, half a world away. it is speculative and, the geologists go there and drop depth charges into various whether under water or in the sand and see what the vibration comes back and what it looks like, the reserve side, is a fairly you know, like carbon dating. how do you know what is five or six million or a billion years