there s a lot of alternatives. we haven t made up our mind yet. the white house evaluating how to respond as some key global economic forecasts have gotten gloomier. so what do all these forces mean for you at home and your wallet? let s discuss with cnn s matt egan. he s at the new york stock exchange. and cnn s kaitlan collins is with us from the white house. so matt, lay it out for us. is there a direct cause and effect between this production cut and prices at our local gas station? ana, the simple answer is yes. we re already seeing an impact. just ten days ago recession fears drove world oil prices down to eight-month lows but they have since raced back to life in large part because of rumors of this opec supply cut and now the actual official confirmation. and prices at the gas pump are responding swiftly. a gallon of regular now fetches $3.87 nationally. that is up from $3.83 just a day ago. up nine cents over the past week. prices are still lower, of course, than
how far will u.s. and allies go to try to calm rising tensions in the region? plus, a heartbreaking find. the california family that was kidnapped, found dead. the youngest victim, only 8 months old. what detectives are saying about the person they believe is responsible. welcome to the lead. president biden taking his first steps possibly towards the decriminalization of marijuana on the federal level. he is pardoning all prior federal offenses of quote simple marijuana possession. this will clear convictions for several thousand americans. president biden is now also encouraging governors to follow his lead and pardon those convicted on similar state charges. the biden administration also says it will continue to review the federal classification of marijuana. right now, it is still a class 1 drug alongside heroin and lsd which means according to the government, cannabis has no accepted medical use at the federal level despite study after study. it is legal in 37 states
trying to avoid this outcome for months and paid a visit to saudi arabia in july after he vowed to make the country a pariah over its human rights abuses. dagen: the fist bump fell flat along with the president s promises to lower gasoline prices for americans struggling with inflation. president biden: i m doing all i can to increase the supply for the united states of america, which i expect to happen. i m using every lever available to me to bring down prices for the american people. i have a plan to bring down the cost of gas and food. i m doing everything in my power to blunt putin s price hike and bring down the cost of gas and food. i led the world to could odd nate the largest release of global oil reserves in history. dana: jacque heinrich is live on the north lawn waking up to difficult headlines. there were reports they were trying to work the opec members up until they lost. there sure were. tough day here for officials at the white house. yesterday they a
what will it take for democrats to address this horrific murder as the country grapples with the nationwide crime crisis. katie pavlich and tammy bruce will join us all of that coming up. sandra: biden administration says the sanction policy against venezuela is unchanged after the wall street journal reported the president was gearing up to ease sanctions to allow more oil pumping in that country in an effort to bring prices down here at home. trace, a big hello to you. great to see you. hello, everyone, trace gallagher in for john roberts. a spokesperson for the national security council making the statement, follows opec announcing plans to reduce oil output by 2 million barrels a day. experts say the move will likely lead to higher prices at the pump here at home. sandra: and we are already seeing the prices on the rise yet again. the president now between a rock and a hard place on the heels of that decision as he tries to appease the far left wing of his party whi
the united nations is leading a global appeal to help pakistan cope with the devastating floods which have left a third of the country under water and killed more than 1,100 people. provinces like sindh and balochistan in the south are the worst affected but mountainous regions in the north west have also been badly hit. the crisis is not over yet as heavy rain continues and water surges down the indus river. sean dilley reports. in some parts of pakistan, it s been relentless. more than 33 million people have been affected by flooding in the country s heaviest rain for more than a decade. this year s monsoon season has claimed well over 1,100 lives since june. more than 3,500 kilometres of road have been damaged, and over 993,000 homes, too. in the northern city of sukkur, temporary retreat for families washed out of their homes. translation: our houses have i collapsed because of the floods. we had a home and it was enough for us. now all our belongings are buried und