Episode Transcript
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Speaker 1 (00:00):
You're listening to KFI Am six forty on demand.
Speaker 2 (00:07):
This is Michael Monks Reports on Michael Monks from KFI
News with you Live on this Saturday night, the very
first of twenty twenty six. It was a wet end
to twenty twenty five, a wet beginning to this brand
new year. My goodness, will the rain ever stop.
Speaker 3 (00:21):
Not yet.
Speaker 2 (00:23):
It will continue to pour on us, and we'll get
to some of the challenges we faced across this region
because of this weather. But first, in spite of the
holiday season, in spite of that little interlude that we
are finishing up here between Christmas and the return to work,
the world has continued to spin with all of its
beauty and its problems. And even though most of us
(00:46):
are not fully back to reality until Monday, we got
a big dose of reality today, a dramatic situation unfolding
in Venezuela and now here in the United States. President
Trump saying the United States will run Venezuela, at least temporarily.
This is after the United States launched military operations to
(01:08):
take custody of Venezuelan leader Nicholas Monduro, and they brought
him here to the United States. To face what President
Trump calls justice. He's also described plans the president has
to tap Venezuela's oil reserves to sell to other nations.
And this all follows the Trump administration's pressure campaign on
(01:30):
that South American country and its autocratic leader, months of
secret planning leading up to this audacious operation that took
place in the Venezuelan capital. Today, the Associated Press calls
it the most assertive American action to achieve regime change
since the two thousand and three invasion of Iraq. Legal experts,
(01:50):
according to the AP, immediately raised questions about whether this
operation was even lawful. We do want to hear from
you tonight about your feelings about the United States entering Venezuela,
taking that leader, Nicholas Maduro into custody, bringing him here
to the United States. When you think about the President's statements,
you can just open up the iHeartRadio app, click on
(02:11):
the talkback button, and we will play some of those
comments throughout this hour. We'll also have local reaction from
people with connections to Venezuela, as well as local elected
officials at the state and federal level what they think
about what went down. If you are just getting caught
up on this news. Here is a full recap.
Speaker 4 (02:34):
It was a force against a heavily fortified military fortress
in the heart of Caracas to bring out raw dictator
Nicholas Maduro to justice.
Speaker 5 (02:45):
A series of very large explosions, not in some random
parts of Venezuela, not on port facilities as many had suspected,
but right in the heart of Gracas and the states
surrounding Gardakas, where we know the heart of military Venezuela's
military apparatus at state security apparatus is and Moe Nicolas
(03:06):
Muloto himself has governed from full well over a decade
now as the leader of Venezuela. We know that the
(03:37):
strikes were against numerous military targets, to include communication.
Speaker 3 (03:41):
Sites up in the hills above Caracas.
Speaker 6 (03:44):
But most interestingly, uh, the all of that probably was
a diversion or at least something to to distract the
Venezuelan military while the special operations folks were in snatching
Maduro and his wife.
Speaker 7 (03:58):
You know, they always say boots the ground, so we're
not afraid of boots on the ground that we have
to have. We had boots in the ground last night
at a very high level. Actually, we're not afraid of it.
We don't mind saying it.
Speaker 8 (04:10):
We had fifteen thousand US forces in the region. We
have seen these strikes again and again on suspected drug boats.
Been asked about regime change. Certainly Donald Trump had made
threats about that had pressured Maduro, but I don't think
anyone was expecting something this large scale.
Speaker 7 (04:32):
We'll be selling large amounts of oil to other countries,
many of whom are using it now, but I would
say many more will come.
Speaker 9 (04:39):
You have the United States involving itself in military operation
that we chose to do that President Trump chose to
do without provocation beyond these drug boats, and certainly Congress
will have something to say about this as well.
Speaker 10 (04:56):
Congressional reaction so far has run predictably along part isan lines,
with Democrats calling the military action unjustified and illegal, and
Republicans praising Maduro's capture as an example of the president's
decisive leadership. A Quinnipiac University poll last month had sixty
three percent of respondents saying they'd oppose US military action
inside Venezuela, with just twenty five percent saying they'd support it.
Speaker 7 (05:18):
You're going to have some of the riches that you
should have had for a long period of time. It
was solen from you. But you're gonna have peace, and
you're gonna have safety, You're gonna have justice, You're gonna
have a country.
Speaker 11 (05:29):
He celebrated the success of the mission to capture Maduro, saying,
quote a lot of good planning and a lot of great,
great troops and people. He went on to say, it
was a brilliant operation, actually, And when the President was
asked if he sought congressional authority or what is next
for Venezuela, the President said he would address those matters
during his news conference at mar A Lago this morning.
Speaker 7 (05:52):
We are going to run the country until such time
as we can do as safe, proper and judicies.
Speaker 12 (06:00):
That was a hugely stunning and consequential statement from the President,
revealing that he plans for the US to run Venezuela,
but president providing very little detail about what that would
actually look like. When I pressed for information, the President
said a group would be running the country, largely by
the people behind him. He said, gesturing to Secretary Rubio
(06:21):
and Secretary Hegseth, we're standing behind him. When he was
in front of the podium up at Mar A Lago.
Speaker 7 (06:27):
We'll run it properly, We'll run it professionally. We'll have
the greatest oil companies in the world going and invest
billions and billions of dollars and take out money, use
that money in Venezuela. We have tremendous energy in that country.
It's very important that we protected. We need that for ourselves,
we need that for the world. It's largely going to
be for a period of time. The people that are
(06:48):
standing right behind me, we're going to be running it.
We're going to be bringing it back. It's a dead
you know, I talk about a dead country.
Speaker 12 (06:56):
The President said that they would be part of a
team working with the people of Venezuela. The President strikingly
suggesting that this is an open ended commitment in terms
of US military boots on the ground, if that is
going to be necessary as part of this transition. The
President wasn't clear, but he did say he wasn't afraid
of boots on the ground. The President also repeatedly stressed
(07:19):
that oil companies will be going into Venezuela, investing billions
of dollars into the country. There have been questions since
the beginning about whether the President's end game here is
really related to oil.
Speaker 2 (07:31):
A very important day for the world, as the United
States has gone into Venezuela and removed Nicholas Maduro from
power and taken him into custody, bringing him here to
the United States. Huge, huge development in international relations. Obviously,
you can expect a lot of reactions from around the world,
right here in the United States and right here in
(07:53):
southern California. We'll get into some of those reactions next. Meanwhile,
in Venezuela, according to the Associated Press, people in that
country are trying to figure out who's exactly in charge
right now. Venezuela's constitution says the vice president should take over,
and President Trump says he's been in contact with Maduro's deputy,
(08:13):
Delsi Rodriguez, who condemned this action by the United States.
She's trying to project unity among the ruling parties factions
while downplaying any hint of betrayal. According to the AP. Meanwhile,
there's somebody else who was supposed to be in power
in Venezuela who reported victory in the disputed election last year.
(08:37):
Her name is Maria Coriina Machado. She won the Nobel
Peace Prize recently for her work in Venezuela. Trump says
that Machado does not have the support to govern. He
called her a nice woman, but says she does not
have the support to be the leader of Venezuela. So
who will be the leader of Venezuela right now? It
looks like, according to the President, the United States of
(09:00):
America running Venezuela. So what does that mean? Not exactly
sure exactly, he says, as you heard from some of
his comments there, it will be some of these guys
behind me, a lot of the important people in the
administration to be running Venezuela. He also very openly said
American oil companies will be going into that country. Venezuela
has very rich oil reserves. It's not a huge player
(09:23):
for US currently in the oil game, but they have
a lot of it, and the President seems to think
financially this will pay off for the United States. But
in terms of international diplomacy and international relations, unclear what
the fallout from this might be. Also, what does it
mean for the United States of America and our role
(09:44):
in the Western Hemisphere. President Trump cited the Monroe Doctrine.
Something you might remember from middle school or high school
US history classes. Fifth President of the United States, James Monroe,
issuing this directive that the United States will take care
of the countries here in the Western hemisphere. President Trump
today referred to it in an updated manner, calling it
(10:07):
the Donro Doctrine. We'll have to be learning a lot
about this in the days and weeks ahead. A very
significant development in this part of the world. We want
to hear from you as well. Open up the iHeartRadio app,
click on the talkback button, and we'll play some of
your comments this hour. Up next, we will get local reaction.
There's a Venezuelan restaurant in Pasadena. Our friends at KTLA
(10:30):
talk to the owner there. You'll also hear from local
lawmakers who represent various areas of southern California, both in
Sacramento and in Washington, d C. As you heard in
some of the reporting there, Democrats in Congress mostly unhappy
with this development. In Venezuela, Republicans cheering this on. We'll
have that full reaction coming up as well as Michael
(10:53):
Monks reports continues here on KFI AM six forty.
Speaker 1 (10:57):
You're listening to KFI Am six forty on demand.
Speaker 2 (11:03):
This is Michael Monks Reports on Michael Monks from KFI News.
Will be together till nine o'clock tonight on this first
Saturday of twenty twenty six. Happy New Year to you.
Thank you so much for joining us on this very
wet Saturday night. Across southern California. Big Big News Day
has happened sometimes on the weekends. President Trump saying the
United States will run Venezuela, that US oil companies will
(11:30):
head to that country and take up shop. After the
United States military forcefully removed President Nicholas Maduro from power,
took him into custody, and brought him here to the
United States. I've asked for your thoughts on this developing situation,
the significant development. Open up the iHeartRadio app, click on
the talkback button and we will play some of your
(11:51):
comments this hour.
Speaker 3 (11:53):
Here is Eduardo.
Speaker 13 (11:56):
This is Eduardo from Tampa, Florida. I support this operation
by President Trump against the Maduro government. Mister Maduro, empty
the prisons out. There was caravans coming in through the
Darien Past, which is in Panama. You don't see these
caravans anymore. This is something that President Biden should have
(12:18):
been taken care of his administration, so and Petrol in
Colombia is sorry.
Speaker 3 (12:26):
Cut you off there, Eduardo.
Speaker 2 (12:27):
The talkbacks are only thirty seconds, but we do appreciate
you calling in and sharing those thoughts with us.
Speaker 3 (12:33):
Let's hear now from Gary him Michael.
Speaker 14 (12:36):
This is Gary, and you know, more important to the
world this section today. It's more important to the people
that have left Venezuela over the years that want to
return home, those in Cuba, Brazil, diving in the United
States that want to return home. And the Vice President's
(13:00):
actually to hold a democratic reelection in thirty days.
Speaker 2 (13:05):
Thank you Gary for that information and that perspective. We
appreciate you listening and taking the time to call in.
Here's another comment from the talkback line.
Speaker 15 (13:13):
Happy New Year. I'm fully in support of this move
by our president. It's nice to have somebody in charge
that actually has some kahanies and I fully support and
applaud our military. The precision and coordination that went into
this was just incredible. As Pete Hegsas said, he left around.
Speaker 2 (13:34):
And he found out that is exactly near what Pete Hegsett,
the Secretary of War said, And happy New Year to
you as well. This was a meticulously planned operation. In fact,
we've learned from President Trump and US officials that this
operation was in the works for months. I've read that
(13:56):
there was even a makeshift recreate of the place where
Maduro would be, and US forces practiced.
Speaker 3 (14:06):
In this thing for a while.
Speaker 2 (14:09):
We are learning some details through the Associated Press of
the lead up to the capture of Nicholas Maduro. Joint
Chiefs Chairman General Dan Kine says US forces had practiced
maneuvers for months and got the go ahead from President
Trump late Friday. The President says Maduro was being highly
guarded in a presidential palace but wasn't able to close
(14:31):
the door to a safe room. The President says American
forces were armed with massive blow torches that could have
been used to cut through steel walls if Maduro had
locked himself in very very serious development. There is very
partisan reaction to what's going on, as is to be
expected in America in twenty twenty six. And this is
(14:55):
Senator Chuck Schumer, the leader of the Democrats in the
United States Senate. You'll also you're from Democratic Senator Tim Kaine.
Speaker 16 (15:03):
Lots of unanswered questions and we need full briefing to
get all of the answers. I still have not been briefed.
We've had some contact with the administration in that we've
asked them for the Gang of Eight briefing and the
oil congressmen and all senators briefing, but we've gotten no
information from them. Congress should not be sidelined as the
Trump administration gets sucked into another nation building quagmire, and
(15:28):
we're going to hold them accountable. We are saying to
the Republicans, this is your responsibility. President Trump is a
member of your party. You've gone along with him over
and over again, and this is one time you've got
to resist them. It's too serious.
Speaker 17 (15:42):
There is no legal justification in the Constitution, in the
history of the Constitution, or an American law that would
authorize the president to wage war, to depose President Modureau
and seize its oil and run the country of Venezuela
without coming to Congress. We've seen this president initiate unilateral
(16:02):
election against Iran, against terrorist groups within Nigeria, and now
against Venezuela, as well as against votes in international waters
without seeking congressional approval. The United States illegally attack King
Venezuela to arrest and oppose its president is one of
(16:24):
the most significant negative events that has occurred during my
thirteen years in the Senate.
Speaker 2 (16:31):
Those are Democratic United States Senators Chuck Schumer and Tim Kaine.
Republican Senate Leader John Thune of South Dakota says, for years,
Nicholas Maduro, the cartel he leads, and other cartels in
Latin America have traffic drugs into the United States, which
have killed hundreds of thousands of Americans. President Trump's decisive
action to disrupt the unacceptable status quo and apprehend Maduro
(16:54):
through the execution of a valid Department of Justice warrant
is an important first step to bring him to justice
for the drug crimes for which he has been indicted
in the United States. I am grateful for the brave
men and women of our armed forces who carried out
this necessary action. The senator says he spoke with Secretary
of State Rubio this morning, and goes on to say
(17:14):
he looks forward to receiving further briefings from the administration
on this operation when he's back in Washington next week.
There was also a post on x that I saw
from the Department of Homeland Security that was calling out
some of the Democrats opposition to this operation.
Speaker 3 (17:33):
The tweet reads, excuse me.
Speaker 2 (17:35):
The ex post reads, oh, so now Democrats are opposed
to a Venezuelan criminal entering our country. That's reaction at
the federal level, also reaction from local elected officials, both
representing southern California in Congress and in Sacramento. For example,
Democratic State or Representative Gil Cisnaros says that excuse me.
(18:00):
This is Congressman Gil Cesnarow is a Democrat from Covina.
He says, the president has lost his mind. There was
no approval from Congress, let alone any justification. Democratic Congresswoman
Sydney Commlonger Dove, who represents La and is a ranking
member of the House Foreign Affairs Subcommittee on South and
Central Asia and a member of the Western Hemisphere Subcommittee, says,
(18:24):
the self proclaimed President of Peace has once again resorted
to war. After months of conducting extra judicial killings in
the Caribbean, this rogue president has just escalated his illegal
campaign by carrying out military strikes in Venezuela without any
declaration of war or authorization from excuse me, authorization of
(18:46):
military forces from Congress Representative Maxine Waters a Democrat from LA, says,
what the hell is going on? Trump has supposedly abducted
President Maduro and his wife and brought them to the
United States for trial, supposedly for drug trafficking and bringing
drugs to the United States. She says, it was just
a few weeks ago when Trump pardoned one of the
(19:08):
biggest drug traffickers in the world, Juan Orlando Hernandez, the
former president of Honduras, who had been convicted by the
Biden administration and was serving a sentence of forty five
years in prison. What is this? Is this about regime change,
Is this about oil? Or is this a power play
to continue to send a message around the world that
Trump is all powerful and he is headed towards dictatorship
(19:30):
in our country? That's Congresswoman Maxine Waters and democrat from LA.
Will have more reaction from local members of Congress and
the State Assembly up next, as well as reaction from
the owner of a Venezuelan restaurant in Pasadena who says
he's happy about what's going on.
Speaker 3 (19:48):
We'll also have more of your.
Speaker 2 (19:50):
Reactions to today's consequential events. Open up the iHeartRadio app,
click on that talkback button. And we will play more
of them as this hour goes on. This is Michael
Monks Reports.
Speaker 1 (20:01):
You're listening to KFI AM six forty on demand.
Speaker 2 (20:06):
This is Michael Monks Reports on Michael Monks from KFI
News with until nine o'clock on this wet, rainy Saturday
night here in southern California. When is the rain going
to end? No idea, No idea, but it is quite
wet out there. We've been talking about the United States
taking into custody Venezuelan leader Nicholas Monduro in a very
(20:30):
high risk and dramatic military operation in that South American country.
Nicholas Maduro taken into custody and brought to the United States,
where he has been indicted on drug and weapons charges.
So he's here, he's here in America. Who's running Venezuela now?
President Trump says the United States will be running Venezuela
(20:51):
for now, and also that US oil companies will be
taking a very serious interest in that nation. We've been
sharing reaction from local leaders. You heard from some Democratic
members of Congress representing southern California. Congressmen can calvert a
Republican from Palm deserts.
Speaker 3 (21:09):
He disagrees with those Democrats. As you can imagine.
Speaker 2 (21:11):
Nicholas Maduro, he says, is a narco terrorist who is
responsible for the deaths of many Americans. I applaud President Trump,
our national security leaders, and our military personnel responsible for
apprehending Maduro. He will now face justice for his deadly crimes.
Republican Congressman GARYL. Aisa, the Republican from Fallbrook and representing
(21:34):
part of the Coachella Valley, he also supports this operation.
He says, our elite military have again performed brilliantly with
total effectiveness and minimum loss of life. They are the
best trained, best equipped, and bravest in the world. Once again,
Donald Trump has taken strong action to protect America's homeland
from neighboring threats of narco terrorism and the scourge of
(21:58):
deadly narcotics.
Speaker 3 (21:59):
He says.
Speaker 2 (21:59):
The Trump administration has his full support. California's Democratic senators
not happy about what happened in Venezuela. Senator Alex Paedia says,
let's be absolutely clear. Trump's military action in Venezuela is
unlawful without approval from Congress.
Speaker 3 (22:19):
There's no clear.
Speaker 2 (22:19):
Objective, no endgame, and no plan for what comes next,
this is a dangerous recipe for chaos in the region,
and he goes on to say, excuse me, this is
now Senator Adam Schiff, who says Nicholas Maduro was a
thug and an illegitimate leader of Venezuela, terrorizing and oppressing
its people for far too long and forcing many to
leave the country. But starting a war to remove Maduro
(22:43):
doesn't just continue Donald Trump's trampling of the constitution. It
further erodes America's standing on the world stage and risk
our adversaries mirroring this brazen, illegal escalation. A lot of
varied responses there from your representatives in the halls of Congress.
Speaker 3 (23:02):
I've also asked for your thoughts.
Speaker 2 (23:04):
Open up the iHeartRadio app, click on the talkback button.
Let's hear now from Randy.
Speaker 18 (23:10):
Good evening, Michael, another great episode.
Speaker 16 (23:13):
Thank you.
Speaker 18 (23:13):
I always enjoy your coverage. I'm listening to your collins.
I've worked with people from Venezuela. What Medoro has done
to that country is deplorable. I think this is also
a big wake up for Putin as well, and and
for the world, so I'm interested to see what will
(23:34):
become of it. Thanks for covering this topic.
Speaker 2 (23:38):
Thank you for listening, Randy, and happy New Year to you.
Thank you for sharing your thoughts on the matter. Let's
hear another.
Speaker 19 (23:47):
Hi, guys, enjoying your show. Great topic tonight. I'm thinking
a little bit ahead. When Venezuela stops the oil, Cuba
is going to start. Cuba gets the oil from Venezuela,
So that means Cuba going to.
Speaker 20 (24:00):
Be up for grants. Is Cuba going to be exchanged
for Ukraine? Is that Trump's long term plan? Here we'll
give you a little bit of Ukraine and you give
us Cuba.
Speaker 7 (24:11):
I don't know.
Speaker 20 (24:11):
Interesting idea. Have a great day. Thanks for the show.
Speaker 2 (24:14):
Hey, thanks so much for listening. We do appreciate it.
Here's one more a kam five.
Speaker 20 (24:18):
This is Mando from the IE. I think Trump is
a loose cannon. Apologize for my bad wars, but I think.
Speaker 1 (24:29):
He's just a total loose cannon, total wrecking ball.
Speaker 15 (24:34):
Doesn't know what he's doing.
Speaker 20 (24:36):
His administration's a bunch of dingle berries. There a bunch
of idiots.
Speaker 14 (24:42):
Who knows what's going.
Speaker 20 (24:43):
To come for us now?
Speaker 2 (24:45):
Mondo, thank you so much for the perspective on that
as well. We'll have time for more of your talkbacks
coming up, You can get them in by opening up
the iHeartRadio app and clicking on that talkback button. Our
friends at Katla went to Pasadena and talked to an
owner of a Venezuelan restaurant, Amara Chocolate and Coffee. His
name is Alexander Strubinger. He told Katla that while the
(25:09):
situation is complex, he believes that change was needed after
years of corruption and economic collapse in Venezuela. Here's what
he said.
Speaker 21 (25:19):
Is he some time to understand that it is.
Speaker 1 (25:24):
Trump is making.
Speaker 21 (25:27):
Dollar team for oil, but I believe he's not just oil.
I believe it's all the The Latin American was a
disaster and taking all this readim from financed by these guys.
Speaker 3 (25:44):
So I'm really happy.
Speaker 2 (25:45):
Katila also spoke with Yesika Cueo Pernia, the owner of
Chum of Venezuelan Cuisine, who expressed similar relief over the
outcome in Venezuela.
Speaker 22 (25:56):
Well, I grew up with a lot of final history
of how things were great many many years ago, and
then I just seen the basically decline and destruction of
Venezuela since then, and so when I heard the news today,
I'm like you know, I wanted to come kind of
help celebrate for the hope this fringen for the Venezuela,
Venezuelan people, and I had not had the opportunity to
(26:18):
come to the restaurant before, but I did and the
food was great, and so I'm glad I'm here.
Speaker 2 (26:25):
And just a quick correction, I misattributed those sound bites
are our first speaker that you heard there was Yusika
Quejo Pernia, who is the owner of Chummel Venezuelan Cuisine.
And then you heard from Alexander Strubinger who also shared
his thoughts about the situation in Venezuela. Again, you can
share your thoughts as well. As The United States has
(26:47):
not just deposed Nicholas Maduro in Venezuela, but went into
his palace and took him into custody before he could
close the safe room. Then they bring him and his
wife to the United States to face charge. Maduro has
been indicted here on drug and weapons charges. The response
(27:11):
from around the world has been varied. There's a lot
of folks, of course, in positions of leadership around the
globe who recognize that Nicholas maduall was not an ideal
leader to say the least, but have raised questions about
the way the United States has gone about this. So
when the week gets rolling again on Monday and everybody
(27:31):
is back to what I would call reality after the
holiday hangover subsides, we'll be learning a lot more about
this because what does it mean for the United States
to be running Venezuela.
Speaker 3 (27:46):
And what role has oil played in all of this?
Speaker 2 (27:49):
President Trump today at his news conference was very transparent
that the United States wants the oil in Venezuela. And
not only will the US be running the country, he
says oil Companies America. We'll be going there to tap
into those rich oil reserves in that South American country.
Speaker 3 (28:07):
What does that mean for our gas prices? We'll get
into that next.
Speaker 2 (28:12):
Interestingly enough, gas prices have been low lately across the country,
of course, not as low as we'd like them to be.
In southern California they really never are. But we'll get
into the impact on that part of this situation when
we continue with Michael Monks Reports.
Speaker 1 (28:33):
You're listening to KFI AM six forty on demand.
Speaker 2 (28:41):
This is Michael Monks Reports on Michael Monks from KFI News,
Happy New year to you. Welcome to twenty twenty six.
It was a rainy end to twenty five, a rainy
start to twenty six. Not quite sure exactly when this
stuff is going to be over, but it's with us
for now.
Speaker 3 (28:58):
We'll just have to deal with that.
Speaker 2 (28:59):
We've been spinning this hour talking about the US military
operation in Venezuela, a very significant development, deposing the leader
Nicholas Maduro, taking him into custody and bringing him here
to the United.
Speaker 3 (29:12):
States to face charges.
Speaker 2 (29:15):
He's been indicted here and now he and his wife
are in custody here in America. President Trump spoke about
oil in Venezuela. When you think back more than twenty
years ago, when the United States entered a rock there
were a lot of accusations that the country was doing
(29:37):
this for the oil and only for the oil. Now,
President Trump was very clear today that while Nicholas Maduro
has been indicted here on drug and weapons charges and
is in custody to face those charges, Trump was clear,
we want that oil as well. So what does that
mean for the United States and its gas and it's
(29:59):
oil production.
Speaker 3 (30:01):
Here's a little bit on that.
Speaker 12 (30:02):
The President also repeatedly stressed that oil companies will be
going into Venezuela, investing billions of dollars into the country.
There have been questions since the beginning about whether the
president's endgame here is really related to oil.
Speaker 23 (30:16):
The attack on Venezuela is occurring as US pump prices
have dipped below three dollars a gallon, sometimes below two dollars.
Some industry analysts think that will continue, that markets have
already priced in the conflict, and that Venezuela, which has
the world's largest oil reserves, provides only a tiny slice
of world supply. Also, the global oil market is oversupplied
(30:37):
and demand is down this time of year. Futures trading
open Sunday night with Brent crude at sixty bucks a barrel,
Wayne Cab at ABC News.
Speaker 2 (30:44):
So gas prices dropping? Why exactly have gas prices been dropping?
Speaker 24 (30:50):
This is the fifth week in a row that oil
prices have continued to slide. Gas prices dropping two dollars
seventy five cents, And normally we do see a bit
of a break at the part during the winter months,
but nothing quite like this. Again, we haven't seen these
numbers since twenty twenty one. OPEC has increased the supply
of oil into the market. The US is also producing
(31:11):
a lot of oil, so this will likely last at
least the next six weeks or so. But in the
spring we could see prices tick.
Speaker 25 (31:19):
Up gas but he says the national average price per
gallon of gas down for the fifth straight week, so
it's now two dollars and seventy five cents. That's down
twenty three cents in one month. In forty states, average
gas prices are now below that three dollars mark. We
do tend to see lower prices this time of year.
That's because generally demand does go down. People are parked during.
Speaker 1 (31:38):
The holidays, school is out.
Speaker 25 (31:40):
Oil production is also up, which does help keep prices low.
Speaker 26 (31:44):
A lot of what's behind it is not only seasonal.
We tend to see lower gas prices as we head
into the end of the year.
Speaker 3 (31:50):
Gasoline demand is lower.
Speaker 26 (31:52):
A lot of Americans may be scratching their heads saying, wait,
we just hit the road. So did so many Americans,
but a lot of us remain parked during the holidays.
Schools are closed, those works. Certainly a lot of folks
doing more remote work. That's part of it. In addition,
the price of oil at multi year lows a is
opek has raised oil production. I'm hopeful that we probably
have about six weeks before we really start to get
(32:13):
into the seasonal upward trends. So get yourselfies with those
ultralow prices. In fact, now eleven states where some stations
are below the two dollars gallon mark. This probably will
start to disappear as we talk about an eventual warm
up in temperatures, as we get closer to spring, As
we get into warmer weather, eventually we'll start transitioning back
(32:34):
to cleaner, more expensive blends of gasoline for the summer.
Not only that, but refinery maintenance, which starts in late
winter will reduce supply, and Americans are going to have
that cabin fever once warmer temperatures start to hit.
Speaker 3 (32:48):
So enjoy it while you can.
Speaker 2 (32:49):
If you are enjoying any lower prices, If you are
in fact enjoying low prices, you are probably listening on
the iHeartRadio app somewhere outside of California. Now look, California
has the highest gas prices in the nation. We tax
the heck out of it. We never get much relief here,
but the prices are dropping even here in southern California.
(33:09):
For example, the average price of a gallon of self
serve regular gas in Riverside County dropped one point one
cents today and it is now down to four dollars
and about fifteen cents, So four to fifteen a gallon
is the average. That's the lowest average price for a
gallon of gas in Riverside County since June third, twenty
twenty one. And you're seeing those types of stats across
(33:32):
southern California, in La County, Orange County, San Diego County,
you are seeing pretty low gas prices on average compared
to recent years lowest prices. I mean that's almost five years,
that's four and a half years that the price has
been that low on average in Riverside County still, I
mean more than four dollars a gallon. That's not great,
(33:54):
but enjoy it for now.
Speaker 3 (33:56):
It does.
Speaker 2 (33:56):
If that gas buddy guy that you just heard there
is act, then this honeymoon might be over. Unless Venezuela
with WISH America is now running and very clearly going
after its oil produces for US.
Speaker 3 (34:11):
I don't know what that means.
Speaker 2 (34:13):
It sounds like the US oil companies are going to
be very interested in what Venezuela has and what that
might mean for our prices. We will have a long
time to keep tabs on this. Oliver Boone, our technical director.
I just wanted to bring you in really quick because
you saw a headline flash on CNN. I think I
didn't see that come across the AP wire in here
(34:34):
and I didn't see that CNN headline. What do you
recall what it said? Yes, it was saying that the
court in Venezuela are going enacting the Vice President, Delsey Rodriguez,
to be the acting president.
Speaker 3 (34:49):
That was on CNN.
Speaker 2 (34:51):
Well, we will monitor that the vice President of Venezuela
serving as acting president, and this is obviously a very
developing situation that we will continue to follow. I have
asked for your thoughts by opening up the iHeartRadio app
and clicking on the talkback button, and here's some more
of your comments.
Speaker 27 (35:09):
Good evening, Happy New Year. I just wanted to say
very quickly that freedom is.
Speaker 20 (35:13):
Back on the menu boards.
Speaker 27 (35:15):
America is back.
Speaker 23 (35:16):
We're the leader of.
Speaker 27 (35:17):
Free world, and we have asserted ourselves as the dominant
power of this earth, and we cannot allow to hear
need to exist. We will instill democracy to the Venezuelans,
give the power back to the people, and reap the
economic benefits. Obviously, it was something that needs to be done.
Speaker 15 (35:34):
And we need to encourage our allies.
Speaker 2 (35:37):
Thank you, thank you so much for that feedback. Let's
hear another now, all right.
Speaker 28 (35:43):
This is Tom jel Y's president. Like he's not gonna
pull any puncher last time. Some of the dodations I
got with Ron rigions for nat Well gone from got
you back all wait, I hope you can do with
(36:04):
huge thank you.
Speaker 2 (36:06):
There you go, Martin and Palmdale. Hoping President Trump can
do another term to be determined. We have another hour together.
I want to let you know that we are going
to continue to monitor the situation in Venezuela or Bergia.
Di Agostino will be in the KFI twenty four hour
newsroom tonight will bring you any new details and the
ongoing story as it develops to night coming up in
(36:30):
the next hour. Did you know that the city of
Los Angeles has not paved a single road, not an
inch since the fiscal year began. On July the first,
there was a scathing op ed published in the Los
Angeles Times by two activists who want safer streets in
southern California, and they are both joining us next hour
(36:50):
to talk about what a disgrace this is and what
the danger means. Also want to let you know on Wednesday,
it is the one year anniversary of the outbreak of
the wildfires here in La County a year ago, and
kfi's news team and I have worked on a two
hour special that we will be bringing you Wednesday night,
(37:10):
January seventh, at seven o'clock at night, and we'll run
till nine o'clock and then I'll come on live for
that last hour until ten o'clock to talk with you
about it and get your thoughts. On Saturday next week,
that special will air again in this slot, so I
won't be with you live. We will have that special
in its place, but I'll look forward to talking to
you again live on Saturday nights coming up in a
(37:33):
couple of weeks. Thanks so much for sharing your thoughts
on Venezuela. We've got another hour coming up. You're not
gonna believe this situation involving La Streets and what it
means to you if you ever drive around in here.
That's coming up in our next hour of Michael Monks
reports KFI
Speaker 1 (37:49):
AM six forty on demand