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The Fox News Rundown

From Washington: What Falling Gas Prices Mean For Americans

The Fox News Rundown

FOX News Podcasts

Politics, Daily News, News

3.41.7K Ratings

🗓️ 23 July 2022

⏱️ 26 minutes

🧾️ Download transcript

Summary

Gas prices continue to fall as the summer rolls on, but the discount at the pump may not be enough for Americans. Although White House Economic Advisor Jared Bernstein attributed the declining prices to President Biden's ease of ethanol blend regulations and release of oil from the Strategic Petroleum Reserve, the risk of another price spike is high. Head Of Petroleum Analysis at GasBuddy Patrick De Haan discusses the impact that gas prices will have, how hurricane season could skyrocket prices once again, and how the war on Ukraine has affected diesel prices in Europe heading into the winter. When a Chinese company purchased land to open a corn mill in Grand Forks, North Dakota last year, the community initially celebrated the addition of a local agriculture business that would create new job opportunities. However, local residents quickly began to express concerns about the mill’s proximity to the Grand Forks Air Force Base, a major U.S. military communications hub located just miles away. Senator Kevin Cramer (R-ND) weighs in on the level of the national security threat posed by the Chinese land deal, how the Grand Forks community effectively sounded the alarm with lawmakers in the nation's Capitol, and why federal officials need to view Chinese intelligence concerns with a better lens. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

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0:13.9

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0:14.9

Saturday, July 23rd, 2022.

0:21.7

I'm Jared Halper. Gas prices are falling and have been for about a month, but the

0:26.6

refining capacity is still at risk.

0:29.6

The biggest question is unexpected issues.

0:32.4

And of those, hurricane season is really on the

0:35.3

forefront of of my mind. I'm Kevin Cork. Almost 200,000 acres of US

0:41.6

farmland are controlled by Chinese interests, but a particular 300-acre

0:46.2

parcel in North Dakota is under intense scrutiny.

0:50.1

That's in and of itself a national security concern.

0:52.6

And it is one we need to pay attention to at a federal level

0:55.6

to provide at least guidance, if not legislation,

0:58.8

that protects our resources from nefarious activity from foreign entities that

1:04.3

willingly come into our very open system. This is the Fox News rundown from

1:09.4

Washington. What did you pay to fill up your gas tank this week? Believe it or not, it was about

1:27.0

60 cents a gallon cheaper than a month ago when gas prices peaked. As of Thursday afternoon the average price of regular gas

1:34.8

according to AAA was 440 a gallon and also as of Thursday prices had fallen

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