Solving the Gas Problem + What Happened to Canada?

Charlie Kirk (0:03)

My name is Charlie Kirk. I run the largest pro-American student organization in the country, fighting for the future of our republic. My call is to fight evil and to proclaim truth. If the most important thing for you is just feeling good, you're going to end up miserable. But if the most important thing is doing good, you will end up purposeful. College is a scam, everybody. You got to stop sending your kids to college. You should get married as young as possible and have as many kids as possible. Go start a Turning Point USA college chapter. Go start a Turning Point USA high school chapter. Go find out how your church can get involved. Sign up and become an activist. I gave my life to the Lord in fifth grade. Most important decision I ever made in my life. And I encourage you to do the same. Here I am, Lord, use me. Buckle up, everybody. Here we go.

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Andrew Kolvet (1:17)

All right. Welcome, everybody. It is October 7th. We remember the three-year anniversary of that terrible day in Israel today. So welcome to you all across this fruited plane. Honored to be with you here at the Y-Refi studios in Phoenix, Arizona. We're going to get started off with a bang and a complete treat for all of you by welcoming Secretary Chris Wright from the... She's doing an amazing job. Let's just sum it up like that. Despite all the headwinds, all the stuff that he has to deal with, Secretary, welcome back to the show. You are the perfect man for this hour to talk about gas prices. Obviously, we're headed into the midterms, and that's what a lot of people are talking about. There's a new report yesterday that President Trump's even thinking about reconvening Congress to put a pause temporarily on the federal gas tax. But let's just get into it. Gas prices are a little high.

What's causing it, and what are we going to do about it?

Chris Wright (2:10)

Yeah, President Trump has been focused on energy prices, as you know, Andrew, since the start of this administration. And we've grown American oil and gas production. We've allowed refiners just to make some common sense reforms to specifications to increase throughput from American refineries. Fortunately, our refineries are producing the most ever gasoline, the most ever jet fuel, and the most ever diesel fuel they ever have.

You know, on the flip side, Ukraine has become wildly successful at attacking the Russian refinery complex.

Russia used to export almost as much refined products as they export crude oil. And now their refinery complex has been devastated. They don't even refine enough for their own domestic consumption. So Russia is importing diesel and gasoline instead of supplying the world with that. China has decided not to export refined products either.

And of course, with the conflict in the Middle East, there's reduced exports out of that region. But we're making progress with companies there to get refineries back up at full speed, use the US Navy to escort not just crude oil, but refined products, diesel, gasoline, and jet fuel out of the Gulf. So we got progress going on, but there's a lot of winds blowing in our face from events around the world. But President Trump has been absolutely relentless in saying, God, yeah, sure, there's problems, but we got to find answers. And you saw the announcement a few days ago about these release from European stores who've been hoarding diesel. They are going to start releasing diesel stocks into the marketplace. This will help put some downward pressure on diesel.

Andrew Kolvet (3:53)

So I want to make sure we don't miss, we don't bury the lead here. Let's go ahead and put 146 back up. This is from the Wall Street Journal yesterday.

Middle East crude oil exports back at pre-war levels, analysts say. So the Gulf has rewired its oil export infrastructure to no longer depend on a single route. This is a huge, huge development when it comes to Middle East oil exports. You see that final bar right there on the right. It's back to pre-war levels. How did we accomplish this, Mr. Secretary? And when are we going to start seeing that reflected at the pump?

Chris Wright (4:29)

Yeah, so this is the American military. This is the unbelievable performance. And it's all branches of our military that are participating in this. So Iran is firing at all times, trying to interrupt the flow of traffic. But our military, as you saw in that plot, has oil flows roughly back to where they were. Now, that's relatively recently. So those ships don't hit shore until another three or four weeks.