Oil Squeeze, Price Pain and Summer Travel Woes 6/24/22

Squawk Pod

CNBC

News, Business News, Business, Investing

4.2 • 543 Ratings

🗓️ 24 June 2022

⏱️ 36 minutes

🔗️ Recording | iTunes | RSS

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Summary

Fresh reporting from Becky Quick on what happened inside the room with leading executives from the U.S. oil industry and Energy Secretary Jennifer Granholm. Inflation continues to run hot. Federal Reserve Chairman Jerome Powell says that the Fed is committed to fighting inflation “unconditionally” in a testimony to the House Financial Services Committee. Member of the committee, and Problem Solvers Caucus Co-Chair, Rep. Josh Gottheimer (D-NJ) wants to act aggressively to solve the problems of surging gas prices, expensive food costs, and fight inflation. Also, United Airlines says they are cutting dozens of flights in the Northeast due to staffing issues. Association of Flight Attendants International President Sara Nelson joins to address the massive amount of flight cancellations, rising ticket prices, and how to navigate the potentially messy summer travel season. In this episode: Rep. Josh Gottheimer, @RepJoshG Sara Nelson, @FlyingWithSara Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @Andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C NBC producer Katie Kramer today on Squawk Pod.
0:08.0	Inside the oil CEOs meeting in Washington, we have fresh details as high gas prices continue to tug on the economy.
0:16.2	Congressman Josh Gotheimer on the cost to consumers and to politicians.
0:20.8	I think we've got to get capacity up and so I think everything should be on the table.
0:24.4	But we have to at the same time be doing everything we can on fighting climate change and
0:28.9	alternative energy.
0:30.3	Up in the air, the head of the biggest union of flight attendance has a warning about staff shortages.
0:35.3	We are pressing the airline to fix the operational issues.
0:39.6	And gambling emotions.
0:41.8	I always am loathe to say sad news about it. This is sad news.
0:45.4	An NBA owner selling maybe to invest in sports gaming.
0:49.4	I'm sad.
0:50.4	I know because I guarantee you loves those he does he loves
0:53.8	seven six yeah pretty good seats I think he's keeping the seats it's Friday
0:58.2	June 24th 2022 squawk Pod begins right now.
1:03.0	Stand Becky by in three, two, one, fuel break.
1:07.0	Good morning, everybody.
1:09.0	Welcome to Squackbox right here on CMBC.
1:11.0	We are live from the NASDAQ market site in Times Square.
1:13.8	I'm Becky Quick along with Joe Kernan and Andrew Ross Sorkin.
1:16.6	Yesterday we told you on this podcast about the expectations for a Washington meeting between
	...

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