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January 13, 2026 13 mins

John Carney is the co-author of the Breitbart Business Digest, the best daily guide to how national and global economics affect you.  Treasury Secretary Scott Bessent is a regular reader and says Carney is one of the best business writers in America! You can sign up for it at Breitbart dot com slash newsletters ( https://www.breitbart.com/newsletters/)

 

Topics – Latest on the economy...

Nolte: National Gas Price Average Falls to $2.79, Lowest Since 2021

Breitbart Business Digest: The Economy Is Growing Faster Than Anyone Expected

Trump: Oil Companies Will Invest at Least $100 Billion to Rebuild Venezuela’s Oil Infrastructure (more oil for us!)

Trump Cancels Biden Rules Forcing Banks to Give Loans to Illegals

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Episode Transcript

Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
We get what we call the inside scoop with bright
Bart News and as I always start the program segment
Breitbart dot com. It's worth a bookmark. Read what they
have to say each and every day. B R, E I,
t BA, RT dot com. Solid reporting quite often is
reporting on things before anybody else reports on it, and
sometimes the only source of information that is actually true.

(00:20):
John Carney knows all about that. He's written for byite
Bart for a long time. We've had him on many
times before. Welcome back to the program, John Carney. It's
always a pleasure to have and you want to appreciate
what you and the team at Breitbart do each and
every day.

Speaker 2 (00:34):
Thanks so much for having me.

Speaker 1 (00:36):
Am I staring at a at a good news on
the topic list, I mean, what price of gas and oil?
Donald Trump just tweeted the other day about forty three
states having gas under three dollars per gallon. Before we
started talking, I just went over to gas Buddy my
personal zip code gas about between two o nine and
two forty two in the city proper the zip code

(00:57):
for the city of Cincinnati two seventy nine, and then
I just randomly chose Middletown, which is you know, between
here and Dayton two dollars and thirty three cents. I
haven't seen prices like that for many, many years. That
is an outstanding development and immediate relief in terms of
the inflationary pressures we're talking about.

Speaker 2 (01:13):
John, your take, Yeah, that's absolutely right. I drove the
other day just to a local gas station and I
hadn't been the I hadn't been driving for a you know,
it must have been a week or two since I
last filled up my car, and it was down to
two forty nine. And I thought, Okay, this is an amazing.

Speaker 3 (01:33):
Development because we have, as you said, it mechanically actually
forces down inflation in large part because the gasoline is
and oil fuel energy in general is a large part
of the entire inflation index.

Speaker 2 (01:53):
But also everything we touch has petroleum in it, and
so and or is shipped with gasoline. So you have
you know, whether it's food coming on trucks, whether it
is the you know, plastics that we're buying everything. I
was on Larry Tudlow's television show the other day and

(02:14):
he was pointing out that his glasses are made of petroleum.
Keeap oil. Cheap gasoline is a way of getting everything
less expensive in our lives.

Speaker 1 (02:22):
Yeah, and one can only hope, but also maybe perhaps
presume on some level that the price that we passed
along the consumer. I think many manufacturers and providers of
goods are looking for ways to provide some price relief,
and if they're going to save some money in terms
of what they're paying to ship goods and serve or
to ship the goods, I would think that's an easy

(02:43):
way for them to pass along a little bit of
savings to the American customer.

Speaker 2 (02:47):
Right, And it's not just out of the goodness of
their heart of court. Target wants to compete with Walmart,
so when Walmart's costs go down, they can lower the
cost and then they they try to lower their prices
when their costs go down to beat Target, Target has
to do the same thing. So the competitive economy means
that you do get these costs start to come down.

(03:12):
And I also just think it will help people psychologically.
Gasoline is one of those prices that we all see
very frequently, even when we're not necessarily filling Normal prices
you only see when you're buying something. Prices of furniture
you rarely see because how often do you even buy
a piece of furniture. Groceries you see more often, but

(03:33):
only when you're at the grocery store. Gasoline you see
all the time because of the minute you pass a
gas station, they advertise what the price is. And so
I think it adds a lot of saliens for people,
and people understand that they're not spending as much on
the pump. It puts a little more money in their
pockets to buy other things, and I think that'll be
make people feel some relief from some of this burden

(03:55):
left over from the Biden administration of very high inflation
that a lot of us are still dealing with.

Speaker 1 (04:00):
Well, and I guess there's a compounding factor. You know,
you would think more oil, more oil, more oil, the
price will continue to go down. But there's a point
at which a barrel of oil doesn't really generate sufficient
revenue for the oil companies. I've heard domestic oil production
companies need about fifty dollars a barrel. I think part
of that has to do with the added costs of
extracting oil and natural gas from shale, but there is

(04:23):
a point of limited return. Now we've got allegedly this
Venezuela and oil that's going to be coming online. I'm
not sure how much that's going to impact. And there are,
of course a lot of logistical hurdles we have to
deal with before that oil is going to start flowing,
including oil companies agreement to go back to areas where
they used to be able to drill and keep their
profits until after the communist government socialist government comes in

(04:43):
and nationalizes their resources. Can we get them to go
back in And ultimately is that going to be a
good thing for the oil companies considering it probably will
bring the price of oil down, John.

Speaker 2 (04:54):
Yeah, So a couple of things. One, at the price
of US oil I've often heard fifty dollars quoted, that's
not necessarily fixed. We can bring down the cost of
production of US energy and oil, in particular by one
allowing some of these pipelines to get built, allowing less

(05:18):
not necessarily even less regulation, but more confident regulation. Look,
the Biden administration didn't want it to be easy, and
the Obama administration before that did not want it to
be easy or cheap to extract oil out of the ground.
They actually wanted to drive up the price because that
would drive down the relative price of things like solar

(05:40):
and wind. So they had been engaged in a campaign
of making it more expensive to get oil out of
the ground. So yes, fifty dollars is the break even now,
but it can come lower and once we get the
regulation of it correct. As for Venezuela, I don't think we.
I think Exon Mobil has been very hesitant about going in.

(06:03):
I understand that you got burned once the commys seasons
this stuff. You're you're worried. But smaller guys actually are.
We are eager. They want to go in. They say, look,
we think this time will be safer. We know we
have the back of the US President, so we think
this is an investible opportunity. And is it risk free? No,

(06:25):
But you know a lot of these do they call
them wildcatter oil drillers. They're not going for the risk
free things. These guys want to take risks because that's
where you make money.

Speaker 1 (06:36):
Well, I have always been convinced that taking plant food
out of the atmosphere is dangerous for plants. It is
not a pollutant carbon dioxide. It keeps the world green
and going. We all learned about that in elementary score.
At least we used to this whole idea that they
wanted to. I mean the predicate, remember Barack Obama, price
of gas will necessarily go up. It was an artificial

(06:57):
price increase, take away the opportunity to drill easily take
You throw in regulatory hurdles, insurmountable. They are you're going
to force people to go over to And you said
that would make solar and wind appear more affordable only
because gas a lien had been artificially increased in price.
So you're competing with an artificially increased price product that
we all want and need and can't do without because

(07:19):
most of us have internal combustion engines. You're going to
replace it with solar panels and windmills that only come
with subsidies. The only way those can even manage themselves
financially is with government subsidies taxpayer dollars. The whole thing
built on what I would argue the house of cards
that seems to be falling apart in front of our
very eyes, that we are somehow destroying the planet by

(07:40):
allowing carbon dioxide to naturally exist and not try to
extract it or not put it into the environment and
environment in the first place.

Speaker 2 (07:48):
So that's absolutely right, and you got the really perverting
part of the policy there, absolutely correct, and it was intentional.
You can need the environmentalists, this is what they say
they wanted to do. You subsidize the energy they like,
you tax the energy, or and regulate the energy they
don't like. And so you are basically in visibly forcing

(08:13):
people to bot to, you know, seek out alternatives because
you've driven the price of gas so high, and you've
artificially driven the price of non flossil fuels much lower.
And that was actually but the problem is you can't
get enough energy to run modern society with windmills and
solar panels. It's not going to happen. We don't actually

(08:35):
even have the technology for a lot of the Look
where I live up in the Northeast coast of the
United States, if you try to run everything on solar,
you would be in a like you just wouldn't have
energy for six months of the year. We're you know,
we're in cloud covered New England here. This is not

(08:57):
you can't run solar all over the country.

Speaker 1 (08:59):
No, of course not. And of course with artificial intelligence
demands increasing the load on the grid. I mean exponentially.
We can't satisfy the needs of AI, and so much
so that I think the one development that's coming out
of all this that's going to be great for America
generally speaking, is that we're no longer turning our backs
on the concept of small modular reactors or nuclear production.

(09:20):
Generally speaking, an abundance of power and oh look, it's
been carbon free the whole time. And yet the environmentalists
fought nuclear tooth and nail, much in the same way
they fight anything that involves fossil fuel. It's all insane.
But the demand of business and industry and these evil
multi billionaires with their AI companies seems to be trumping
this religion that we all have been following blindly.

Speaker 2 (09:44):
It's actually been a great development. Not intentional, but this
is the way things have worked out that for a
long time, we actually had a bunch of these tech
companies that believed that because they themselves weren't using much energy,
that they we're willing to get behind a lot of
these horrible climate change policies that drove up the price

(10:06):
of energy. Now that we have the new technology and
the money that's going into things like AI, that it
is actually energy intensive rather than than not. You're actually
getting Silicon Valley and the new technologists to support energy
abundance rather than oppose it. That's a very positive and

(10:27):
frankly unexpected development. I didn't see that coming, and it's
terrific because it means that basically we're recruiting a bunch
of pretty wealthy people to be on the side of
ordinary Americans when it comes to energy, and that's terrific.

Speaker 1 (10:43):
Well, they have to advocate that for their own survival. Finally,
the chickens as home to ruse for these you know,
multi billionaires who were so blindly following leftists and funding
every leftist cause out in the world. Oh whoops, I
guess our situations changed, So we're going to change our
minds and maybe that'll help Again. Can people over to
the right side of thinking, which is, no carbon dioxide

(11:03):
isn't bad, it's plant food, all right? Is the economy
getting better? Are we booming? Are we not? I suppose
it depends on where you read an article. Everybody with
an opinion has a different outlook on it. It's like
subjectivities into the equation. Shouldn't this be a sort of
a concrete thing I guess it just depends on which
sector of the economy you're looking at, John Carney.

Speaker 2 (11:23):
So right now, the economy is growing very rapidly, and
I think it's important that people see this. That we
grew at a three point eight percent in the second
quarter of four point one in the third, and we
might be growing as fast as even faster than that
in the fourth quarter. That gave us a lot of

(11:44):
momentum going into this year. That's really good. The unemployment
rate has fallen, which is the opposite of what a
lot of people thought it was going to do, and
they thought it was going to keep going up. So
this is all good news, and in place it has
come in quite Look in just a couple of minutes
we'll get some more inflation numbers. This is what we want.
We want non inflationary growth. And by the way, wages

(12:08):
are rising faster than the rate of inflation, which means
that people have more purchasing power. The things we all
need to survive in this world are becoming more affordable
because we're getting the amount we get paid is going
up faster than the prices. That's terrific and it's something
that hasn't happened in a long time. There are dangers. Look,
interest rates are still pretty high. That could still cause

(12:31):
one of the things interest rates do eventually is slow
down hiring. So there are dangers still in the economy.
Will never not you not have risks to the economy.
But the economy is doing well right now, and I
think the legacy media is trying to blind us like this,
But we are doing well well.

Speaker 1 (12:52):
Three things that Democrats seem to have going into the
November election. You got healthcare and the subsidies, you got inflation,
and of course I suppose in the immigration situation, what
side are you on getting rid of these evil people
in the United States or letting everybody just stay here
without any intervention. So that's it. Hopefully the economy kicks

(13:12):
in in full earnest before November, taking the wind out
of the Democrats sales on that one. We know that
John Carney from Breitbart's going to be reporting on all
of it. Breitbart dot comsy find John and the crew. John,
thank you so much for joining me on the program
this morning. It's always a pleasure having you on and
for my listeners and me. Keep up the great workover
at Breitbart.

Speaker 2 (13:31):
Thanks so much, and looking forward to being.

Speaker 1 (13:34):
On again, looking forward to it already, my friend, have
a great week. It's eight twenty here fifty five k
SE the talk station, The Daniel Davis Deep Dive coming up.
I hope you can stick around w KRC, Cincinnati,

Brian Thomas News

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