Energy Boost: Chevron CEO & U.S. Labor 12/02/22

Squawk Pod

CNBC

Investing, Business News, News, Business

4.2 • 543 Ratings

🗓️ 2 December 2022

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The U.S. economy added 263,000 jobs in November, surpassing estimates despite the Federal Reserve’s aggressive efforts to curb inflation. Average hourly earnings also rose month-over-month, which is good news for workers, but bad news for the Fed’s plan to slow interest rate hikes. Ahead of OPEC+ meeting this weekend and the EU’s looming ban on Russian oil imports, Chevron CEO Michael Wirth discusses the global energy landscape, Chevron’s new license to boost Venezuelan oil production, and working with the Biden administration on energy goals. The Senate voted to pass a labor deal, averting a nationwide railroad worker strike but failing to secure the workers the guaranteed paid sick leave that their unions were hoping for. Plus, Kanye West is suspended from Twitter, and Floridian lawmakers are mending fences with Disney. In this episode: Mike Wirth @Chevron Becky Quick @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:02.6	Hi there, I'm C. NBC producer Cameron Costa.
0:07.7	Today on Squack-Pod, a red-hot labor market.
0:12.0	It's good news, but it's also not so good news. We'll explain.
0:17.0	We're in that weird point where bad news is interpreted as good news.
0:21.0	Oil's big weekend, OPEC plus is meeting. The EU is developing
0:25.8	sanctions on Russian oil and we talk about it all with Chevron CEO Mike
0:30.4	Worth. It's about as unpredictable as I've ever seen. And on the volatility
0:35.4	coming for global energy. It's an industry that always has existed at the
0:39.6	intersection of engineering and technology, economics economics and geopolitics.
0:43.0	Plus could it be happily ever after for the Magic Kingdom and Florida?
0:49.0	Disney's new-ish boss prompting a politics reversal. I'm mending fences we're all mending
0:55.4	film we need to come together. It's December 2nd 2022 and Squawk pod begins right
1:01.8	now.
1:02.5	Stand Becky by in three, two, one, queue please.
1:07.4	Good morning, everybody.
1:08.6	Welcome to Squawk Box here on CNBC.
1:10.6	Live from the NASDAQ market site in Times Square.
1:13.0	I'm Becky Quick along with Joe Kernan and Andrew Ross
1:15.5	Sorkin who are having a conversation as the show is starting.
1:18.8	Good morning, we're here.
1:20.0	First time viewer.
	...

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