E.J. Antoni

Well, we've seen a couple of measures that will have some temporary relief, at least, like tapping into the Strategic Petroleum Reserve, although that is getting dangerously low.

We've seen winter blends of gasoline be allowed to continue to be used during the summer.

Despite some vapor pressure concerns there, basically what that means is we're going to continue to have things like 15% ethanol instead of 10% ethanol for the foreseeable future.

So we're trying to stretch out that gasoline supply essentially by diluting it with corn-based ethanol.

I do, but I don't think it actually has anything to do with the war.

I think it simply has to do with the fact that

the American government is finally taking its boot off the neck of American producers, contrary to what we saw during the Biden years.

And so as the U.S.

gets more excess capacity in its oil and gas industry, that allows us to meet supply crises very, very easily and be the marginal producer around the world.

Thank you for having me.

If the bombing schedule stays the way it has been, you're going to continue to see oil prices remain stubbornly high, and you are going to see that price at the pump get worse.

I think people have really underestimated just how much energy markets are going to affect all other aspects of the economy.

Perhaps the most acute one we've seen so far in terms of a non-energy impact has been fertilizer.

And that's because fertilizer is largely synthesized from an energy commodity, natural gas.

Unfortunately, I think what we're looking at in the months to come, again, some of it has already hit markets.

like the price at the pump.

But a lot of these spillover effects, if you will, are yet to come.

I think so, Vince, absolutely, especially when you consider where we're coming from, right?

Now, it is the case, I think he's going to have to probably try to thread the needle a little bit here.

What I mean by that is he needs to acknowledge two things that some people think are contradictory, but they're really not.