Welcome, everybody. The response today from the Biden administration to OPEC plus announcing

production cuts was to once again release some barrels of oil from the U.S. Strategic Petroleum Reserve.

That's what they did earlier this year when the Ukraine-Russia war blew up into high gas prices.

They're going to release 10 million more barrels.

That's going to probably make about a one cent difference in what you pay.

One cent?

Well, I'm just throwing out a number, but I remember reading analysts say it makes a very small dent in the gas prices you pay.

Yeah, it's to get a headline.

That's all.

Oh, we're fighting back.

We're taking steps.

I think it's strange for people looking here in California at our horrible run,

running up and gas prices in the last couple of weeks.

But actually, the price of oil on the world market has been dropping.

So OPEC Plus has decided, and that's what some are accusing the refinerers here

in California of doing, to just

cut production back.

It's kind of weird that as the...

To pinch demand.

As the world oil price drops, our prices go up.

But if the world oil prices go up, our prices aren't going to go up too.

So our prices only go up when the world oil drops.

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