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MSNBC Katy Tur Reports June 4, 2024 18:53:00

The same around the world. this is a question about increasing the world s supply of oil and that s why the president is releasing a million barrels per day from the strategic reserve to try to stabilize this and called upon more production here at home to try to increase that supply and it s why he called for increased production around the world. that s one thing to try to stabilize the supply while the oil and gas companies increase the production over six months. the energy information agency said that the oil and gas companies themselves will get to another million barrels by the end of the year. the president saying that this is about putin and the war in ukraine, russia is a huge exporter of oil and when we and other countries say we won t take russian oil now with the ....

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MSNBC Katy Tur Reports June 4, 2024 18:44:00

Limiting what you can buy. two or three cans at a time. because parents were going in, understandably, ten, because they wanted to make sure they had the supply. definitely. when you look at the manufacturing of formula, this begs get what ought to happen next to prevent this from happening again. jo ling kent, thank you for being here. i want to go to rudolph wolcher now who is an expert in the supply side management at rutgers business school. thanks for joining us. explain to me how this bottleneck gets relieved? well, thank you for having me on, katy. so, when we think about the supply chain, it s not just abbott. it s multiple companies. it s companies that supply raw materials to abbott. it s transportation companies. it is the retailers that are carrying abbott s product. and all of these have to work together to make sure that when a consumer goes to the store and ....

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MSNBC Katy Tur Reports June 4, 2024 18:54:00

Eu s action that means up to 3 million barrels a day are off the market so supply is contracting and that means we have to increase supply to make up for the lost russian barrels. so the president s focusing on increasing that supply. the president said he ll focus on oil companies taking advantage of the situation. the ceo of a major oil company said they saw record prices. do you see price gauging? there is no doubt. i was attorney general back in the day after 9/11. there were all these gas stations that took advantage of fear and gouged people. so i think that should definitely be looked at. it is a curiosity with the price per barrel down to $106 but yet we see record gasoline prices. you should see a parallel drop. maybe not that day taking time ....

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MSNBC Katy Tur Reports June 4, 2024 18:55:00

For gasoline to be refined and get to a local gas station but the question about why there s a disparity between the price of oil per barrel and when it drops and gasoline doesn t drop even a few days later to the same amount that oil dropped so i think this is worth looking at. not saying that everybody is gouging but deserves looking under the hood and the president called for the ftc to do that. i have a limited amount of time. what about the standards for blends of gasoline? are you is the administration prepared to loosen them for the summer to make it cheaper? he called for them to do that last month and increase ethanol blend and to drop the price per gallon for everybody. is that problem with the food supply going up? if you take corn out of the food supply to the gasz supply will ....

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MSNBC Katy Tur Reports June 4, 2024 18:45:00

Looks for baby formula, it is there. in the past, it was always there. but since the pandemic, we ve seen ripples in the supply. disruption, transportation delays. and now a major plan shutting down. and it really causes big issues in terms of having the availability for these parents. so, how long should parents be prepared for this to last? well, there aren t necessarily any quick fixes until that plant comes back online. abbott has said they re trying to divert some of the product that they manufacture in ireland which is an fda-approved plan. however, how much that can cover and how quickly that can get online is unclear. so, in the short term, it s going to be difficult. and it might be difficult for a lot more parents, than what we ve seen now. we re talking difficult. ....

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