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Oil Production To Be Cut Sharply – How Will It Impact Gas Prices And What Are The Political Ramifications?

Published October 5, 2022 at 9:25 AM PDT
Oil Companies Boost Production In Texas, Doubling 2021 Taxes Sent To State
Brandon Bell/Getty Images
Getty Images North America
HOUSTON, TEXAS - SEPTEMBER 07: An oil refinery is seen on September 07, 2022 in Houston, Texas.

Oil Production To Be Cut Sharply – How Will It Impact Gas Prices And What Are The Political Ramifications?

OPEC Gas 10.5.22

The Organization of Petroleum Exporting Countries, an alliance of oil-exporting countries, on Wednesday decided to sharply cut production to support sagging oil prices, a move that could deal the struggling global economy another blow and raise politically sensitive pump prices for U.S. drivers just ahead of key national elections. The impact of the production cut on oil prices will be limited somewhat because OPEC+ members are already unable to meet the quotas set by the group.

Today on AirTalk we’re joined by Severin Borenstein, professor and faculty director of the Energy Institute at UC Berkeley’s Haas School of Business and member of the California ISO Board of Governors and Ben Lefebvre, energy reporter focused on business and politics at POLITICO to discuss oil cuts, gas prices, and political ramifications.

With files from the Associated Press

Elon Musk Is Buying Twitter (Potentially For Real This Time But Who Knows)

Musk and Twitter 10.5.22

SpaceX and Tesla CEO Elon Musk has announced his intention to buy Twitter. Again. The billionaire business magnante had originally agreed to buy Twitter and take it private for some $44 billion back in April before putting the deal on “hold” in May and announcing his desire to scrap the deal altogether in June. Musk accused the company of refusing to disclose information on the number of non-user bot accounts on the website, and Twitter filed a suit against Musk to close the deal in July. Musk initiated a counter-suit shortly after, and as part of the discovery process Delaware’s Court of Chancery released reams of texts and messages from and to Musk that paint him in a less than stellar light, and show the inner workings of the deal as it was being crafted. A handful of days later, Musk agreed to buy the company at his original offering price and Twitter has put litigation on hold. Joining Larry to break down this saga, the likelihood this offer will go through, and what the future holds for Twitter is New York Times business & policy reporter Lauren Hirsch.

New Podcast ‘Imperfect Paradise: The Sheriff’ Dives Deep Into Villanueva’s Rise In The LA County Sheriff’s Department

Imperfect Paradise 10.5.22

The third season of LAist Studios' podcast “Imperfect Paradise '' will focus on the Los Angeles County Sheriff’s Department’s controversial leader, Alex Villanueva. It’s hosted by KPCC and LAist civics and democracy correspondent Frank Stoltzewho uses immersive investigative storytelling and an extensive sit-down interview with the sheriff to unravel how the former lieutenant climbed the ranks and what it has meant for Southern California. Frank joins Larry to discuss the podcast. Plus, Alene Tchekmedyian, staff writer covering the Los Angeles County Sheriff’s Department, and Gustavo Arrellano, columnist and host of “The Times” podcast from the Los Angeles Times, join to discuss what it’s been like to cover the sheriff and the department.

The first two episodes of “Imperfect Paradise: The Sheriff” are available now with subsequent episodes of the five-part report rolling out weekly. Subscribe now on Apple Podcasts, Spotify or wherever you listen to podcasts. Listen to the trailer here.

Proposition 30: Should We Raise Taxes On The Rich To Fund Clean Air Programs?

Prop 30 10.5.22

California Gov. Gavin Newsom wants voters to reject a new tax on rich people that would pay for more electric vehicles in the nation’s most populous state.

Proposition 30 would raise taxes on people who make more than $2 million per year. It would generate up to $5 billion in new tax money each year, and most of that money would go to programs that help people buy electric cars and install charging stations. A smaller amount would go to wildfire prevention response and prevention programs. The “Yes On 30” campaign has said approval of the prop would accelerate a path to cleaner air in the state. The ballot measure’s campaign is paid for by the ride-hailing company Lyft. Last year, state regulators ordered companies like Lyft to make sure nearly all of their rides are in electric vehicles by 2030. Joining us to discuss is Will Barrett, national senior director for clean air advocacy for the American Lung Association, and Matt Rodriguez, senior campaign strategist for the “No on Prop 30” campaign.

With files from the Associated Press 

Is Jaywalking Legal In California Now? Well, It’s Complicated

Jaywalking Bill 10.5.22

Despite some headlines you might see this week about “jaywalking” being decriminalized or made legal in California, the bill signed late last week by Gov. Gavin Newsom does not technically decriminalize it. The Freedom to Walk Act — which goes into effect in January — does aim to protect pedestrians from “jaywalking” tickets when they cross a street outside of a crosswalk or against a traffic light (and let's be honest, most everyone has done this at some point). But you must meet specific conditions to be in the clear. AB 2147 states that police officers should not stop and cite a crossing pedestrian “unless a reasonably careful person would realize there is an immediate danger of a collision with a moving vehicle or other device moving exclusively by human power" (such as a bicycle). Joining Larry to breakdown when you can and cannot legally cross the road is KPCC and LAist Associate Editor covering Transportation and Mobility Ryan Fonseca.

With files from LAist. You can read Ryan’s full piece here.

Latest In Bestselling Series On Stoicism Focuses On Self-Discipline And The Historical Figures Who Harnessed It

Stoicism Book 10.5.22

What do Lou Gehrig, Queen Elizabeth II, and Toni Morrison all have in common? Aside from all being influential historical figures whose lives and actions changed the lives of others, they are all examples of people who mastered the art of self-discipline in the process. The concept of self-mastery is an important pillar in Stoicism, writes author and author Ryan Holiday, whose latest book in his Stoic Virtue series “Discipline Is Destiny: The Power of Self-Control", explores the power of mastering self-discipline and tells the stories of seminal figures in history like those aforementioned individuals who have done just that, as well as others like Napoleon and Babe Ruth, whose decisions might serve as cautionary tales. Today on AirTalk, Ryan is with us to talk about his new book.

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