EXCERPT:
BASH: "So, on that, 'The Washington Post' is reporting that the Treasury Department says that the oil price could soar 50 percent after -- eventually more than 50 percent after the European sanctions --"
BERNSTEIN: The European -- [crosstalk] -- right."
BASH: "-- on Russia kick in on Russian gas. So, the question is, are analysts who are predicting that that might make gas prices $6 a gallon accurate? Could prices actually go back up?"
BERNSTEIN: "So, a lot to unpack there. First of all, you talked about the price of oil. I should have mentioned this earlier. While the gas price is down about 8 percent or 9 percent, the oil price is down about 20 percent. So, when we talk about the president doing all he can to provide relief at the pump, one of the things that he's doing is trying to nudge these companies to pass some of those savings along to consumers. You know, in the first quarter of this year, some of the biggest oil companies had a net profit of $35 billion. Now, these are companies we helped, to the tune of billions of dollars, during the pandemic."