Ted Cruz

I talk to a lot of U.S.

producers.

And I will say at down around 60, 70 dollars a barrel, you see what we've got now, which is gas prices at about two, three bucks a gallon, depending on what part of the country you're in.

Now, if you're in California, there's still four or five bucks a gallon.

But that's Gavin Newsom of the Democrats fault.

But but here here in Texas, you fill up your tank.

It's somewhere between two and three bucks typically is what you're paying right now.

I think that's a sweet spot is $60 to $70 where it lowers.

Under Biden, when we had $100 oil, you were seeing $4, $5, $6, $7 a gallon of gasoline.

That really hurts consumers.

I will say this, if you see oil prices plummet, so let's say they drop from the 60s down to say the 40s or below.

That's when it starts doing real damage in particular to the independent producers.

the small guys in West Texas and the Permian, that's when you see drilling basically stop.

And by the way, the majors will be fine, the Exxon Mobils, the Chevrons.

I mean, look, those are companies that literally have more revenue and assets than most countries on planet Earth.

They're that massive.

So the majors will survive a drop.

But what happens if we see $40 oil drop,

you'll see bankruptcies throughout the Permian Basin of the small producers.

And when those guys go away, those are the guys driving production.