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Transcripts for MSNBC The 11th Hour With Stephanie Ruhle 20240604 06:55:00

more oil this year than it ever has before and will be producing more next year. so the issue isn t barb mcquade energy production, it s oil being a global market being dependent on wars in europe and real estate markets in china, it s not something they can pin on the white house. gas prices have gone up recently. what is behind that? that issue is kind of the old bogeyman. it s opec cutting down production. saudi arabia wants to raise money for its own domestic economy, develop its own industries besides oil. the other issue is major refineries in the u.s. have gone down. these are the places that actually turned the oil into gasoline and diesel. we have one of them blow up a couple of years ago, a major one on the east coast. we had another big refinery in the south, in texas, or louisiana, catch fire and had to go down for a number of days. so that will do more to push up the price of gasoline if there is enough supply to go around, then any sort of oil or natural

Transcripts for MSNBC The 11th Hour With Stephanie Ruhle 20240604 03:56:00

it s not something they can pin on the white house. gas prices have gone up recently. what is behind that? that issue is kind of the old bogeyman. it s opec cutting down production. saudi arabia wants to raise money for its own domestic economy, develop its own industries besides oil. the other issue is major refineries in the u.s. have gone down. these are the places that actually turned the oil into gasoline and diesel. we have one of them blow up a couple of years ago, a major one on the east coast. we had another big refinery in the south, in texas, or louisiana, catch fire and had to go down for a number of days. so that will do more to push up the price of gasoline if there is enough supply to go around, then any sort of oil or natural gas policy coming out of the white house. is there any truth to republican claims that green initiatives and the room

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