BAES 171: Why the price of diesel is getting scary

0:00Mr. President, my company told me of the explosion I'm not rigged. On October 2nd, causing massive water displacement and triggering the tsunami. They all heat the blame on me. Tom Cruise is. Digger Donner's into the specimen. And Digger is gonna dig a top. From the director of Birdman and the Revenant. What would happen if I stopped moving? You stole! You freeze the deck! That's what! With great power, comes great deniability. I'm not the Earth Daddy. Digger, see the Traylon law. Only in years of October 2nd, rated R. Under 17, I'm in with our parent. What is diesel? In fact, I, for my... It's not just a jeans company that for exchange students would wear in high school. And it's not the third track off of the 1997 album The Fat of the Land by the English Electronic Group Prodigy. So this East West pipeline getting hit in Saudi Arabia is bad because it was the main... Well, it's probably bad if you like use diesel oil gas for the thing... Which we all do in a roundabout way.

1:00National highs of $6.52, which is up 69% from a year ago. We've never hit this in American history. And I like breaking records. It's nice to be here for history. Hell yes. Donald Trump, you did it again. That thing's just begging to be shot at with the tank. I want to attack. Like he's... I just want to stop doing the podcast right now. I just want to shoot it with the drone. Spain is doing a diesel discount until end of month. What? What a diesel discount. Come on down for the wacky diesel discount. Come on down to Diego's diesel for a... East West pipeline got you feeling down? What a diesel discount. Hungary's doing a thing. Only Hungarians are getting a discount. Are you hungry for diesel? Then come on down because Hungarians only are getting diesel discount. Come on down to Heinrich's Hungry Diesel. We're spending it on me. Tell me what's going on. Tell me what's going on.

2:03So listen to that. Don't spend it on me. Tell me what's going on. Tell me what's going on. What's going on to you? What's going on to you? You're not in the suit. What's going on? Everyone else stop listening just to you. I want to talk to you. Yeah. We want to tell you what's going on. Welcome to the show ladies and gentlemen. You're here because you want to know what's going on. And I'm Ben. I'm a B.O. Yeah. And this week we are talking about man, what the heck is going on with the price of diesel? Why do you shakere? What? And gasoline. And gasoline. And jet fuel. But we're going to tell you all about why this matters as hell. And what's happening so badly that not even J.P. Morgan, you know, the credit card bank. Not even they know what's going on. They have thrown their hands up. They said, we don't even know. You're on your own. We don't even know. Uh, we're going to be talking about all this.

3:03Why the price of diesel is so important. And normally you just see it on the gas thing. You're like, damn, I'm glad I don't drive a freaking truck. But why it's important for you? It could affect your holiday travel. And everything else, the economy and all that stuff. So it's pretty, it's a pretty big deal. We're going to talk about what the administration plans to do about it. You are about to be so informed, baby. So once you just relax, kick back. You're a little baby, but you're also informed. Yeah, you're a little informed, baby. Google Gaga, not you, not you. You're going to be going, oh, I know. Oh, I know. Yeah. So by the end of this episode, you're going to be a veritable expert on diesel. And what's going on with all that mess. But before we do that, hey, Q and A time is right around the corner. So benonamilicero.com, sign up there in support to show. Please. And also you can leave a voice mail for us and we will answer it. Our smoking video is up, Ben and Emil, Ben and Emil on Smoking

4:06is on the YouTube. There's another one coming. Yeah, there's another one coming right around the corner next week. And we're going to have an extended cut for subscribers at benonamilicero.com. So baby, baby, baby, ebony, the extended is a generous term. This is a bunch of footage. It's how long is it? 38 minutes. Some people are saying 38 hours. It's crazy. Yeah. So nobody really knows how long it is. Nobody. Nobody knows. Okay. So we're also going to get into some Paramount merger. Oh yeah. Got to talk about that. It's a tie. Dude, that thing is a mess. Sit tight. They're going to talk about a mess. All right. It's a mess. The goddamn Hollywood. Folks, it's all a mess. We're navigating it, right? I so, hey, what is diesel? In fact, I know I for my, it's not just the jeans company that for an exchange students would wear in high school. And it's not the third track off of the 1997 album, The Fat of the Land by the English Electronic Group Prodigy.

5:06Exactly. Diesel Power. I was listening to that at the gym today, doing my hack squats and I was like, girl, girl. Was it getting you fired up? It was getting me fired. I shouldn't have done that. Fuck. Did that hurt? No, but it just, it's not good for your, it's not good for anything. Yeah, yeah. Everyone say a prayer for Ben's aneurysm. Say a prayer. I used to drive a 1981 Mercedes diesel for door and that thing was a tank. And it was sure those things would run forever. Dude, it died on the freeway on me on my birthday. The eve of my birthday at 315,000 miles. Damn. Which were not put on by me or my family, but by a family friend. Did it make that classic noise when it was running? Oh, yeah. Yeah. Yeah, it would, uh, just like a boat, a boat pulling into. Oh, dude. Yeah, that was it. A 300D. Yeah. This thing, you know how normally in a gas, in a car, you accelerate and the RPMs go up in kind.

6:07This thing, you floored it or you gave it just a little bit, didn't make a difference. It was the same speed. It was just, it took no joke about a minute to get up to freeway speeds. Um, and it also idled incredibly rough. And when you turn the steering wheel while you were parked, it would shake violently. Sometimes to the point where it would just die. Uh, that always was a joy. A real classic car. Ah, such a great car. I still remember how it smelled. That was back when Mercedes, it is great that they built that car and they were like, yep, let's tell this to people. Yeah. It is, it was a tank. It was a boat. It, it was built to last. And now Mercedes are just hot garbage. Uh, anyway, diesel is the thing is the type of gas that powers everything other than your car. Unless you're European, in which case you probably have a diesel car in the station electricity as well. Electricity. Um, uh, some people have actually, uh, don't they have natural gas cars? I've seen that before. Got fart powered cars now. I'm almost positive. I've seen, no, you're right. There are some nanny gas ones.

7:08Yeah. I've seen the, uh, gas pumps that have it LNG or whatever. Element O P. I don't know. LNG QRS. Man, I don't know. You got diesel is at all time highs. I just checked today because they update them. They update the prices. National highs of $6.52, which is up 69% from a year ago. We've never, we've never hit this in American history. And I like breaking records. It's nice to be here for history. Hell yes. Donald Trump. You did it again. Dude, that's a, that's a heck of a perspective here in California. We're breaking even more records because it's $7.70. Oklahoma is $5.38 roughly. Uh, also this is in actually so kind of, it's in nominal terms and not adjusted for inflation. The record was actually set in 2008. Um, $7.20. There have been a lot of people talking about how the, the period between, you know, 2010

8:14to 2016 when gas prices were very high, adjusted for inflation, especially when you're looking at barrels of oil and everything. How we're actually not doing so bad. Okay, that's a nice, all things considered. If you need to calm down, yeah, go look how bad it was adjusted for inflation. Oh, man. There's all sorts of, yeah. All right. So number of the first question, why diesel rising? Why diesel high? Well, gas is high. Can we go, can we start with this JP Morgan thing? Because it is, it is very funny. It's, they've basically just thrown their hands up. So JP Morgan as Ben was leading to in the beginning of the episode has basically admitted that they no longer have a baseline for oil. They just don't know what the hell to do. We simply don't know how to model the end game. They said on September 17th when, when the war started, they were like, all right, we, this is not good, but we can at least give you some estimates about where we're going to be because we know that certain things won't happen, right? They basically said, we have a set of economic breaking points that like that the Trump won't

9:16do. He'll either. Taco. It would cause him to broker a deal. Like he's, if any of these things happen and they were created, causing, crossing $100, $100 a barrel. Price is hitting $5 a barrel. And then the 10 year treasury, you know, topping 5% and oil topping $100 a barrel. Yeah, I said that. Oh, I thought it was. And now all of these things have happened and they were like, we don't know anymore. We didn't think, we thought this would stop him. It doesn't, you know, he doesn't seem, he doesn't seem to care at all. They said all lines have been crossed. The exit strategy is less clear, not more. And we're still in this quagmire for much longer than anybody had anticipated, including and especially them. And I want to be, you know, I want to be honest, I was, I was a panicking in the beginning. I truly think I thought it was going to be much worse.

10:17Like there was, it was probably in like March or April. I had a viral tweet that was like, I don't think you're going to Europe this summer, babe, because I truly was like, it truly seemed like there's no way. I mean, they were panicking about, they were panicking about everything. They're, you know, we're talking about 20% of the oil going offline because of the straight, straight of our moves. A lot of that didn't come to pass because they had figured out some workarounds, right? They, China was a big one. They basically decreased their demand big time by a massive amount anywhere from like three to five million barrels a day or something. Well, because they, China was actually one of the smart ones and that should have been our, our first like clue that this is going to last way, way longer. Well, because they did it. Yeah, but they, they halted like all of their exports. And then countries all around the world released from strategic reserves.

11:17Yeah. A big one that we're going to get to East to West pipeline. Saudi Arabia was able to reroute a lot of their oil that they were exporting through straight of our moves. Yeah. And things weren't great. Gas was high. Hold ready. Yeah, gas was very high. But some things have happened that have, we're running out of runway. We're running out of runway. Well, so that, that brings us to why diesel is rising. And there are two supply shocks that are hitting at the same time. Number one is your mama. Is what? Your mama. Oh, your mama. Your mama. Because she's so big or something? Because she's so big and she's blocking it. No, she's blocking it. She's blocking it. I am. She's blocking it. No, I'm just, I'm just kidding around. Number one is Russia. Uh, that, you know, that thing going on over there between them and you, in Ukraine. That's easy to forget. Because what are we at? Year four now. Yeah. Starting 2022. Yeah. 10% of the world's diesel. I learned so much about diesel researching this.

12:1910% of the world's diesel comes from Russia. And Russia's shit is currently getting rocked very, very hard. Um, if you haven't heard about, uh, Ukraine hit them with a thousand drones. Yeah. It's not good. And so they're, they're, they're shit's getting rocked. And Russia is the second largest. Like I said, 10% of the world's diesel comes from Russia and they are the second largest exporter after the US. And they're the first one that's going to be the second largest exporter. And then they have an exporter number one because of course we are. Uh, and they currently have a diesel export ban that has been pushed to September 30th, um, after these Ukrainian strikes on refineries in August. Uh, and their deputy prime minister, this guy named Alexander Novak, signal that it could actually go until Halloween, which is not going to make for, not the kind of spooky want. No, that's going to be extra spooky. So we're already getting like, Hey, 10% of the world's diesel is going to, it's probably going to go even further out to October. Fun fact, 50% of, uh, Russia's total diesel output comes from just six plants.

13:26Uh, one of them, one of the six is fully down. So that's not good. And two are running at reduced capacity. So that is also not good. And then that diesel is a seasonally, um, it's, it's seasonally in higher demand. It's the opposite of gasoline because gasoline, it's in high demand in the summer months because people do be driving. And then, uh, for diesel, their higher demand comes in fall and winter because of harvest season. Yeah. The culture is a big, uh, yeah. And heating oil and freight, uh, so you got the prices already coming up that are going to be higher because of increased demand coinciding with Russia's exports, um, completely halted right now and they're at reduced capacity. Uh, but what's actually good is that our inventories are at the lowest seasonal level ever, um, and Europe is starting to import some from Mexico for the first time in seven years. That's actually, I'm joking. That's not good. Yeah.

14:26I'm being sarcastic. Easy. So much a supply, a supply problem, but also the refining process and we have not put any refineries online in a very long time, I believe since the seventies and, uh, it's not even like we could turn on more capacity. I think we're at like 98% capacity right now. So it's not just, we've also gotten lucky. So I saw someone pointing out that for some reason, you know how every year, um, the Gulf states are getting absolutely rocked with hurricanes. Yeah. Famously that does tend to happen. It's basically every year. Mm-hmm. Somehow for the first time, the Gulf states are not modeled to get rocked by hurricanes this year. You guys have no idea how lucky you are, which would, which would mean our capacity would have to go, uh, go down for a little bit. So it's, yeah, it's a confluence of, we can't knock it in wood that we're not going to get very many have God, pray to God that we, they sent them to the West Coast instead for these hurricanes.

15:27Nothing like it's going to happen, but, uh, so with that, Russia being number one is, uh, it's just one issue issue number two pipeline. And no, not the reef break in Hawaii, you fucking Hioli. Raja. Yeah. So. Yeah. Yeah. So. Yeah. Like the, you know, the buns I pipe, yeah, sure. Yeah. Pipeline. Hey, game, we got to take a quick break to talk to all the business owners out there. You know, if you're like us, you're building a business, the money side can feel like a whole second job. It's really a ton of work. It's a slog, especially when you want every invoice to show clients that you're the real deal and not just some, uh, some chicken coop operation, not a side hustle. Well, fresh books changes that.

16:28Fresh books makes the money side of your service based business easy. Okay. You can log your hours and a branded invoice, get paid and know your numbers instead of chasing them money in, money out all in one place. No more juggling one app for clients, another for billing, plus a pile of spreadsheets and emails. Fresh books is designed for our small business owners. Think about money, not how an accountant does. You don't need a financial background to use fresh books. It's simple on purpose. Most owners are up and running in minutes, not days. And if you need help, a real person is available on every plan. Fresh books has been trusted by service businesses for over 20 years. That's a long time, folks. And helping over 500,000 owners and solopreneurs run their business confidently. Right now our listeners can get fresh books for less than three bucks a month for your first four months. That's 90% off head to freshbooks.com slash podcast to get started. That's 90% off under $3 a month for four months at freshbooks.com slash podcast.

17:31No, I'm talking about that other pipeline, multiple pipelines. The one that are carrying the ones that are carrying oil across vast distances in the Middle East. The other reason diesel is high is because of the straight-ahoramuse. Yeah, all that sweet-ass brand stuff. That's been closed. And so, you know, maybe we can pull up a picture of the East-West pipeline here to show Saudi Arabia luckily had the East-West pipeline, which meant they were able to move somewhere between like four to seven million barrels per day overland that used to go through the straight-ahoramuse to the Red Sea port of Yanbu. Yanbu? Forgive my pronunciation. Yeah, there it is. Because it goes from East to West, hence the name. It's pretty great. Yeah, we're working up with this name, brilliant stuff. Yeah. Now, the only problem on September, on September 12, drones launched from Iraq.

18:34It's not exactly clear who it was. People are saying it's Aaron Beck militias in Iraq. Yeah. It's not saying it was the Houthis, but either way, the pipeline has been directly struck. And they shut the entire 745 mile pipeline down. So you said September 12, but there's a, it's a weird thing. Reuters has it on September 11th. And they, the, the, the Saudis themselves said September 10th. I don't know why, but that's just a weird discrepancy. It could be a time zone thing, depending on while recording it. I don't know. It seems like, yeah, September 11th, celebrations got a little out of hand this year. And yeah, they had some, they had some explosions. Who was celebrating? Who was celebrating? I don't know, the Saudis. Hmm. I'm kidding again. I'm kidding. We're doing that. But yeah, they, this is the, the international energy agency says that this is the largest supply disruption in history of the global oil market.

19:36And yeah, they hit just keep on coming. You get to live through it. Isn't it interesting and fun? So this, this East West pipeline getting hit in Saudi Arabia is bad because it was the main, yeah, which we all do in a roundabout way. It's bad because it was the main export route that avoids the straight of four moves. And it's 1200 kilometers long. Like you said, we don't know who did it. But it begs the question, these things need protection, these pipes. We need to put like a giant, I don't know, fucking metal condom over these things. I mean, if it was me, I would have put it underground. Hmm, I think they already are a little underground, right? Some of them. I mean, maybe. But think about it, man, a condom, a big old condom. You got a little reservoir. A little rubber condom. Not a little, a massive one. A massive rubber condom. A massive scale. We need like a new, a brown new deal.

20:40Brown for the oil. Got reservoir, reservoir tips for when the oil accidentally gushes out, you know, contain it. It's got to be better than rubber though, no? It's got to be rubber. I don't know. It's better than nothing, right? Oh, yeah, look at that. Yeah. Yeah, bury that shit on the ground, plop it on the ground. That thing's just begging to be shot. Oh, that was a big arm. I want to attack it. Look at it. I know. It's just, I want to fucking hit that thing. I mean, yeah, it's like he's, I want to stop doing the podcast right now. I just want to, I just want to shoot it with a drone. Yeah, I want to hit it over there. It is funny. So Iraq, Iraq confirmed that it came from their territory. And it was nice to see that they actually fired a couple of military guys over it because apparently they were asleep at the wheel and didn't, you know, I don't know if they could have been in it. You're finding comfort that some poor guy lost his job of this. Or a couple of poor smucks, yeah, lost their jobs that they, I don't know. I think more people might be losing their jobs because around the same time, the Houthis

21:42completed a takeover of the Red Sea of Yemen's Red Sea coastline, which we talked about it a little bit. They had declared the Red Sea straits the Bob El Mandoob strait closed as well to Bob El Mandoob to Saudi tankers. And yeah, they've, they've seized the coastline and they seized an island called Perim, which is apparently a really strategic luxury island location. I just want to say real fast, not ideal if you like getting oil out. These Iranian proxies that are, that are causing a ruckus over there. I just want to say like, you know, you're, you're, you're, you're, you're drone bombing the pipeline. How would you like it? Huh? If America did a drone attack on your, what's that? Oh, we have got it.

22:48Because we have the, it's, that's the joke. The Americans don't quite a bit of it. I don't know what you're talking about. We're moving on from that. Uh, you know, it's wild though, that is Reuters. I, I took a guess that they've got, because they're like, we've done our satellite analysis. They have a deal with planet labs. Reuters? Yeah. Okay. And planet labs provides them with like up to the minute, accurate satellite imagery, which doesn't seem like that should be allowed. Right? I don't know. You want only governments to be able to access the, uh, no, no, that's a good point. But I mean, it is interesting because Reuters has come out and said that three, uh, pumping stations were damaged. Um, and yeah, just real fast. So in terms of how long is it going to take for that, that oil, that pipeline to be restored? Aramco is trying to bypass the damaged section and restore half capacity within days in full capacity within six weeks.

23:50And European refiners sucks to be you because they are told that they will not be receiving any, uh, any crude oil, um, at all. So I would do if I was an Iraqi militia right now, but she'd another drone at the thing I mean, that's the thing for it. Dude, so now that, now that they know that these are their vulnerable, at first it was a straight or moose. Now it's these, these pipelines, uh, the United Arab Emirates has this ad cop, uh, pipeline that runs from the Hobbshawn oil fields to Fuji report just below the straight of hormones. So that's, uh, that's a way for them to bypass the straight is because it can go just below it from west to east. That's been a target since the war started. Um, but also that one's only a crude oil pipeline and not, um, for diesel. Uh, and yeah, like you said, the, the Bob Almandeb straight is where the, the hoodies are tightening control and it's just like, they're basically running out of, uh, the

24:54running out of options here. Yeah. I mean, they, you try to go this way. Someone else comes in blows up your pipeline, you try to go this way, they cut off this straight. It's very, it's, it's very vey it come if you think about it because it's very low. It requires very little to cause massive disruption. I mean, this whole thing is, uh, the asymmetric warfare. Yeah. Well, not fun to live through fascinating to watch the, the way you just like a couple of Shah had drones can absolutely disrupt the world that's insane. Yeah, it is wild. And not just in the Middle East, Ukraine, the same thing with their drone warfare. It's absolutely, oh, seems terrifying. It's, yeah, it's miserable. Yeah. Um, okay. So that brings us to what's everybody doing about this? Um, Trump is on it. Trump is on it. And in fact, today, well, I'll get to see you. Did you see what he said at the UN General Assembly? I saw some of it.

25:54Okay. Well, so he had already been, he had already been talking about, he's always talking shit. He's always talking about how, uh, he was talking about on social media on true social about how he was going to make a decision about the war very soon. But today he was at the UN General Assembly in New York. Uh, honestly, it's probably just worth it to read these quick three paragraphs from the New York Times talking about. So he, President Trump told the United Nations General Assembly in New York that he had, he had a decision to make on Iran to strike a deal with Tehran or, and this isn't in quotes, annihilate the Islamic Republic. Jesus. His threat amid a defense of the war, he launched alongside Israel in February came as allies have begun to openly question whether the United States remains a credible partner. Mr. Trump, the second world leader to speak at the gathering also celebrated his military operation in Venezuela this year when the United States expanded access and control over that country's vast oil reserves. But he saved the strongest words for Iran declaring its reign as the bully of the Middle East over, even as he raised the prospect of driving that nation and again, in quotes

26:55into hell with no chance of survival. So he said, I have a big decision to make. He said, will a deal be made with Iran that lets them rebuild and create a far greater country than it ever was before, maybe one of the greatest in the Middle East or even the world? Or do I annihilate the Islamic Republic and do it quickly, never giving them a chance to kill and destroy people in countries again? Decisions, decisions. Hmm, what to do at this point is he's fully just talking about should I nuke these fuckers? I mean, yeah, what else is he talking about? The decision I was going to say is that he said that he was going to stop diesel exports from the United States, which was a big. Yeah, Chuck Grassley is, he's been pushing this. I don't think this is a great idea. It's not a good idea. It's also funny, you know, the guys like this will come out and be like, I've got it, but they'll never be like, should we stop the war? Yeah, should we stop?

27:56Do you fuck with do or? Although at this point, I don't even know how you stop it. Like he's in a position where he doesn't know either. I mean, there were so many moments where he could have quit while he was ahead. I mean, not ahead, but you know, save some grace a little bit. And we would have all forgotten about it by now. If a couple of weeks into it realistically, he'd have been like, all right, we're done. We're out. We wouldn't be talking about it right now. Maybe not, but I do think, I think from the very beginning, the global order fundamentally changed that. I mean, very quickly, it seems like within weeks, American military bases were destroyed in a way that I don't think anyone thought was possible or was ever going to happen. Things were going to be reordered. But now I don't know how the hell you get off this path. I mean, if anything, I mean, he's right. I think his options are literally nuke them or Iran is going to become a much more powerful

29:02nation. They're going to be charging access for the straight up for moves. They've completely changed the balance of power in the Middle East. And that's all because he's a fucking moron. And a psychopath and an narcissist, I mean, you name it, but he was also saying that it's likely that we're going to get a deal after the midterms. We'll fucking see about that. But as it pertains to this increasingly dire situation with the price of diesel, yeah, the Jeff Landry, the governor of Louisiana was urging for a 90 day ban on diesel exports while others are just calling for embargoes and certain kind of controls. And the interior secretary actually pushed back on that. Like the administration was pushing back on that idea, saying it wouldn't, it wouldn't do anything to lower prices. And because when I was thinking about this short term, yes, that's the only thing.

30:02Right. And so maybe the yeah. And so I'm like, okay, why that doesn't seem to make sense. If we're the number one exporter of diesel, just fucking stop exporting it and keep it all here. The prices would plummet. Apparently, not the case because thanks to just supply and demand, refiners would apparently slow down refining because demand wouldn't be as high because they get more bang for their buck selling it internationally. And yeah, we're not only that. I mean, look, plus it would hurt Europe as the number one exporter, not just Europe, it goes, this goes everywhere. It's a global market. The economy is globalized whether you like it or not. Yeah. Okay, fine. With all that from other places, see how much, see how much that helps. It would fuck them, which would then intern fuck us. So it's just not that. And apparently we tried it in the 1970s and it just didn't work. Yeah. And so Chuck Grassley is like, well, let's just do it for a little bit so that it'll just a little bit, dude.

31:02Come on, brother, just a little bit. So we'll do it for the harvest season so that the temporary effects will only be positive and then we'll go right back to exporting and that'll be that. The only way Trump would want to do that is if it was much closer to the midterms than it is right now. So he could have a quick win and go, look at how smart I am. Yeah. I just said, I just said, don't, dude, don't sell to anybody else. We'll keep it for ourselves. I mean, smart is guy in the world. Hey, gang, we got to take one more quick break to talk about your favorite clothes. You know those pieces in your closet that are just your go to that you find yourself wearing on repeat. We're talking about that sweater that goes with everything, the perfect pair of pants or that t-shirt. You somehow always find yourself reaching for first. Those are the pieces that make getting dressed easy. And that's what quince does best. I've been personally wearing my Mongolian cashmere sweater so much.

32:03I think I'm going to wear this thing out, but that thing keeps kicking. I love it. It's keeping me warm. It's keeping me stylish. It's in a nice, beautiful green color that makes people on the street stop and go, we'll get that thing. And I say, give it to me. Quince. And I say, get your hands off me. Yeah. They're 100% Mongolian cashmere sweaters started to say $60 giving you the softness and quality. You'd expect from a luxury brand without the luxury price tag. They also make premium pants, fitted tees and polos and breathable active wear quality basics designed to work across your wardrobe and hold up to every day wear. Quince is priced 50 to 80% less than similar brands. They work directly with ethical factories and they cut out the middlemen so you're paying for high quality and not brand markup. And it's not just clothing. Quince brings that same approach to everything they make from hotel quality bedding and bath to kitchen essentials and thoughtfully designed furniture. They make well designed pieces for everyday living.

33:03Find your next fall favorites at Quince. Download the Quince app for app exclusive offers or go to quince.com slash bays. Get free shipping on your order and 365 day returns now available in Canada and the UK to that's q-u-i-n-c-e.com slash bays. But yeah, he's in a sticky wicket. I mean, Saudi Arabia is asking for help figuring out this whole hootie situation. Oh, and we told him to fucking kick rocks. It's truly a situation where it's like he has no options. Okay, get embroiled in now getting more involved with Saudi Arabia fighting the hooties or get the fuck out of this horrific situation you created. It is interesting because yeah, it's quite the quagmire. But if you don't, if you do get out, you've just seated that territory to, I mean, he is. Just over the, what was it?

34:04Just on Sunday, we were about to like the planes were loaded up. The coordinates were set. We were about to bomb the hooties and Trump changed his mind at the last minute. He said we have direct communication with the hooties. They've agreed to not engage us and we're not going to engage them because that would just further complicate things. And yeah, we, because the hooties struck Riyadh on Saturday. They also attempted to hit mecca, which is like, I feel like that would make the world explode. If you fucking hit mecca, who the hell would in the right mind would do that? I didn't hear about the mecca thing. Riyadh was the hit the airport, right? I believe so. They, I believe the Saudis intercepted a drone that was intended. They think to hit mecca. I don't believe the Saudis. And yeah, they're, they're, they're, they're, they're trying to take control of the Red Sea with the Saudis need for the pipeline when it reopens.

35:05And it's, it's really delicate for Trump, but it makes sense because he doesn't want to escalate things going into the midterms and fighting the, the hooties would definitely escalate things. It's just focacum and all around, dude. Nothing worse than being in a situation where you now can't even take an L. Oh, I know. I wish I could just take it out. It's a sunken, it's a sunken cost fallacy, dude. It's a stock that is dropping and dropping and dropping and you know when you're gut that you're wrong, you just need to cut the loss, but you can't. I could have taken the L back when JP Morgan was able to model this. Yeah, that would have been the time. Even model it anymore. Um, it's how bad I mucked it up internationally over 400 million barrels have been released from emergency, emergency stockpiles, but they still have a deficit of 900 million barrels. Um, so what are these countries doing about it? Germany just cut their fuel tax. Yeah, we're going to, we're going to cut the fuel tax, though the less fuel going to supply

36:06us, but it's up to the suppliers to pass on the savings to the consumer because apparently that's just the way they want to do it. That's going to fix it. That's going to fix it. And I'm sure the companies will pass on the savings to the consumer. Um, really smart moves, Germany. Yeah, Spain is doing a diesel discount until end of month. Wacky diesel discount. Come on down for the Wacky diesel discount. Come on down to Diego's diesel for it. He says pipeline guy, you feel down? Wacky just get diesel discount. Uh, hungry is doing a thing. They're only Hungarians are getting a discount. Are you hungry for diesel? Then come on down because Hungarians only are getting diesel discount. Come on down to Heinrich's hungry diesel. And foreigners dirty, dirty foreigners have to pay full price. Uh, Italy and Slovenia are doing similar things. Um, so Trump proposed a $5 billion. Trump proposed $5 billion to kickstart a fund to rebuild these golf energy sites, um,

37:11which does acknowledge that the war has fucked a lot of the infrastructure and, and, and route and fucking royal the entire global energy market. It would seek to match, um, investment from eight countries, Saudi Arabia, United Airbembrance, Qatar, Bahrain. Fucking guy. I hope that fuckers enjoying himself out there. Kuwait, Oman, Iraq and Jordan, uh, and they're, I love when they do this. They're calling it the partnership for allied trust and construction or packed. Really good. It should be construction and trust the intern, the intern who came up with that. Compatible on the back. Uh, and there are. So Goldman Sachs came out and was like, Hey, whoa, everybody chill out. Everybody just calm the fuck down. All right. There are seven new pipelines being built. Okay. And it's going to fix everything. Everything's going to be fine. That's not fucking true. Goldman Sachs. That is not true. There are two new pipelines being built. That is partly true.

38:12Uh, the United Airbembrance. Tell me there are belt to go online right there. No, no, no. So close. Well, because we're fine. Huh? There are 20 million barrels of oil that pass through before in the before times. 20 million barrels of oil passed through the straight-of-hormose every single day. So that's a lot to make up for. Uh, they're doing a second pipeline running along that ad cop that goes from west to below the straight-of-hormose. Uh, only cost $3 billion. It's 300 kilometers long. It's expected to be online early to mid next year. And it would take bypass capacity up to 3.6 million barrels from the current 1.8 million. So that's good. That's a little dent. If I'm in Iraqi militia, I'm just watching, waiting for the, uh, the ribbon cutting ceremony. Yeah. And I'm gone. Do it now. Yeah. Wait until the last moment. They didn't even bother putting it underground. And there's a bunch of other ones.

39:13There's, there's another one in Iraq and then the ones that are being proposed still are in various countries. Uh, but if all of those were to be completed, Goldman says that 60% of exports would be rerouted effectively by 2028. But that's just hang on till 2028. Yeah, just hang on you guys. Just hold on. Can you just chill out till 2028? Which is, I mean, that's, uh, rerouting around, uh, the straight or moves and, um, uh, the red sea side would definitely weaken Iran's position. But it just takes so fucking long and nobody, nobody can wait that long. Yeah. What exactly? Oh, you just wait around. Wait two more fucking years. You stupid bitch. And that's, that's if they don't attack those, uh, those sites. How do you keep, how do you keep 1200 kilometers of oil pipeline safe? Truly put it under the ground. Yeah, I don't get that.

40:14Which, which does make me think sometimes like, how the fuck did they make sewers here? The dog. Yeah, but like they, they, they, they literally just like, all right, we're going to dig a mile, plop it under and then another mile and they just used to be interested in public works. Yeah. That's not the case anymore in this country. Imagine it to be dedicated. Dude, it's like, go read about how, like they built the Brooklyn bridge and it's, it's insane. Yeah. No one has any, uh, let me just go and they did. They just want to eat hot chip and lie. It's true. Yeah. It's really unfortunate. But just like the pipes that go into houses on hills, what they got just got a pipe, like they just had to dig a long, sneaky ass hole, just one big long hole. You know what I mean? It doesn't make sense. That's my conspiracy theory. Pipes. Pipes aren't real. Pipes aren't real. It's not how, where's the fire? Uh, where's a nice in real time, um, example of how conspiracy start.

41:19Local man doesn't understand how things happen. How pipes work now has a internet megaphone to be like, something's up. Right. You tell me the pipe goes from there to there and it just looks making around on the ground. Yeah. How do they build that? That's something fishy. Face sheets. I don't get it. And then you don't have any understanding of that. Of course, I mean, I do, fundamentally, but I'm like, so they've really had to, so like when they replace pipes in, in, in the city of L.A., for example, they got to dig up the entire length of the pipe or do they like dig up one part and then they slide it out like a splinter being taken out of someone's foot and then they slide it back in. You know, I don't get it. You can watch and if you're an engineer, please just go on. You don't want to look, I don't want to learn. You know, that don't tread on me thing. Don't read to me. Yours is like, I don't want to learn. But I do want to learn. It's just, you know, anyway. No, you just want to ask the question.

42:22No, I said, no, you're, it's not wild to think about the trick. Speaking of the Patriots, what? Have you been seeing the truckers who have, that's a rumor? I don't know. What's a rumor? I thought you were going to say the trucker's going on strike. No, no. Okay, sorry. But there's plenty of truckers who have been interviewed by new sites and talking about how we're in pain here. We're getting absolutely fucked. They're talking about how their 200 gallon tank is now being full at filled out, six, 50 gallon. They just can't make it work anymore. But yes, there are the guys who was like, Maga Patriot 1776, like Donald Trump, we've had enough. We are going on strike. Oh, fucking believe it when I see it. But to be honest, like there is, there's numerous times where I'm like, oh, wow, this is probably the moment they've pushed people too far.

43:22Yeah. And it never does happen. I am people, but when this first happened February, March, I was like, this can't go on that like, I don't know how California, Los Angeles, especially has not just ground to a halt. I really don't get it when you're talking about how much of, it's just a complete driving culture. It is so ex the gas in California is so expensive. That I live near a gas station that is consistently the cheapest gas. I will see in the city. Sinclair, is it a Sinclair? No, it's like arco quick something. Oh, so it's garbage. Like, yeah, it's due to it's due to it's due to it's due to it. It's like one of those stations people will be like, don't fill up there. Yeah. Literally past today when I came to this video, 619. Wow. And that's like the lowest I'll see in the city. And I just don't even understand on a city that, I mean, everyone is ordering, so many people drive Uber here.

44:22Yeah. I don't understand how you even make it, I don't even understand how you make it work as an Uber if you're paying 650 a gallon for gas. I agree. You're ordering door dash postmates, whatever. I don't understand how the economics work. Yeah, I genuinely don't. Cause it takes time. It takes time to work through the system. I actually have that as one of my questions to answer for people. It takes time. Where do I have? I know, but we've been like, yes, this reason spike has just happened, but we're talking, this is a prolonged episode. Yeah. This launched in what February 20th, I think it was, I think it was the last day of February. I've been astounded by the resilience. I mean, not only that, the stock market is like, all time ice. If you're not bullish on this, well, the stock market's forward looking. We've already had time to digest all of this information. I feel like a crazy person. I really do. He flights, go, pause this and go look at,

45:24go look at a flight that you normally take and look at what it is right now. LA to Orange County. Look at the jokes. Who's gonna fuck? Well, like, you know, I fly to New York a lot and it's, yeah. It's probably hard to find a flight for under high sixes. Six dollars, six hundreds. It's a lot. It is a lot. Yeah. Well, it's so real fast just to answer what Emil was just saying. We can handle brief spikes, brief spikes in prices, but depending on how long prices stay up like this, it could take a few weeks, starting from a few weeks for the costs start hitting shipping, then one to three months for a cost to affect consumer goods and food. And then a few months for it to then hit the consumer price index. And so I was wondering like, all right, how long do we think these spikes are going to last, especially in diesel?

46:24And the energy secretary actually said, I think it'll just last a few days. Oh, good. Just like the world was talking about the pipelines coming back. He says, I think these pipelines are only going to be offline for a few days. And who knows, but the Saudis and Aramco haven't said. It's been not, it's been offline for like 10 days. I know. He still thinks he still thinks it'll only be measured in days and not weeks or months. Real fast. I wanted a caveat or not caveat, but just toss in there that Qatar, Qatar, however, you're supposed to say it is probably the most fucked out of all of this because their main export is liquid natural gas. And there is nothing, there is no alternative to the straight hormones. They have nothing because it requires highly specialized shipping ships with, it's got to be shipping ships. It's got to be, it's got to be kept at like super freezing temperatures.

47:25It's incredibly the logistics and the technology required to transport liquid natural gas is so prohibitive and so specific that you can't just stick it in a pipeline and launch it across the desert. So sucks for them. But so sucks for us really sucks for everybody. But for people who like heating their homes in the winter, sucks for people who, yeah, I mean, the diesel thing is truly the life. But when we're talking like heavy machinery, trucking, everything in this country is moved through. Trucking diesel power trucks love diesel. They can't get enough of it. Gop, gop, gop, gop, gop, but again, I was wrong before I am genuinely astounded by the resilience of, uh, dude, Americans fucking love eating shit. I swear to God, they like, it doesn't matter how much whichever party it's just fucking land is free home of the shit.

48:26They keep filling that bowl of shit and Americans are like, oh my God. Did you have you taste it? It's unbelievable. Speaking of diesel real fast, uh, I remember when I looked it up because I remember when my friend texted the group chat on January 6th, 2021, the day of the thing. And was like protesters are storming the capital. And I responded, wait, good ones are bad ones. Cause in my mind, I was like, people have had enough. It's only a matter of time. Yeah. I've been like forever. I don't know how Americans aren't like, hey, we're sick of your shit. Yeah. And they wrote back like, now a bad one. It's more on mega people being like, we want Trump, Trump's election was stolen. So I, I'm always surprised that, uh, they'll just keep eating that shit. It doesn't matter. I remember driving that diesel. Hey, one of them. I love it. Yeah. All he does much shit as I can. I'll use as much as I can too.

49:27I'll drink the diarrhea. I'll just scarfing that shit down. Uh, I remember the days when diesel was actually cheaper than regular gas. And it was, yeah, especially in that old diesel dude, that thing got like 60 miles to the gallon, which I just was like for a 1982. That's, that's insane. I didn't think that that was possible. But real fast, like I was going to say, the last one of the, one of the places that I worked at years and years ago, uh, after I got fired, there was a, there was an intern there who was instructed by one of the creative directors to fill up his, he got one of those, um, the cool Mercedes box SUVs. Oh, the dragon, the G wagon. Yeah, he had just bought it. We're talking like less than $500. Are those things like $200,000? Yes. And this guy bought one and he, he was, it was one of those situations where it's like, okay, who's fucking wrong here? And he just had the intern, hey, will you go fill up my car with gas? Just not part of the interst jobs description. Intern goes, put diesel in it, didn't know, didn't know the difference apparently.

50:30And it fucking cooked the engine was fucked. Beautiful. Starts driving away and then it's, you know, uh, I don't, I don't know what you do with that. Like how do you even, it's just the, anyway, uh, okay back to the Mercedes dealership. And you, you did something to this. Yeah. I put gas in it. It's not going right. It's not drinking it right. Uh, so you might have questions. Uh, and I, and I, I came up with a list of quick questions. Number one, you ask Ben, a meal, how high might diesel go? Nobody really knows for sure. Let's see. Honestly, let's, but I said rocket this thing up. The, the, the, the, the, the assumption is that it could go as high as $8 a gallon nationally, which means in California, it'll hit like 10 plus, which, like, yeah, we're already at eight. Uh, I think we had eight 42. Yeah. It's psycho. Uh, question number two, what can you do? Nothing. You can't do shit.

51:31Um, start, start digging holes to put the freaking pipelines in. You could go out there and help and help and help dig grab a shovel, dude. Actually, what you could do is buy staples that you, um, not the little metal guys, but whatever staples you normally rely on, uh, cause you could see higher grocery prices, higher transportation prices and that shit does get passed down to us. So, um, by shit that you use that doesn't go bad, like rice and beans and can't shit stuff. I would never encourage people to do that though. That's just, it's good to have a stockpile anyway. Sure. A little bit. Then people, your nest egg are going to stockpile shit. Then there's shortages. Oh, the paper shortage. Everyone, everything worse. I've definitely seen that. The like, mega Patriot 1776, like, look, I warned you partner. You didn't listen last time. Yeah. It's only so much time left before everything hits the fan stock up. It's like brother fuck off. Yeah, guns and ammo. I could regular gas go even higher, not likely because we've got oil, oil, uh, while diesel,

52:40diesel has problem because, uh, it's diesel and oil that's getting, you know, tossed around. That's a refining problem in its refining problem and gasoline, like, closely tracks oil, $10 gallon gas would mean $300 a barrel for oil. It's just probably not going to happen. Oh, we're not going to have $10, but I don't think depending on how this goes, I don't think we've seen the last of, uh, gas going up. Yeah. Uh, and I just thought you would enjoy these fun facts. Um, in the 1970s, there was, uh, gas rationing and I was looking up what that was like, and why it happened. The Arab members of the, uh, of OPEC embargoed us and other nations for supporting Israel during the Yom Kippur Wars, how familiar? In 1973 and that caused oil prices to quadruple. And then just a few years later, you had the 1979 Iranian Revolution. And what did that look like here? I'm sure it was, I, I'm just sharing this because just when you think it's bad, it

53:45could get worse. Um, they did, they did rationing. They did oil, uh, or gas rationing. Uh, if your license plate ended in an odd number, you got to fill up your tank on odd, uh, calendar days and similarly even you got to fill up on even days. Um, you also had purchase limits. So you couldn't just go and like fill up a thousand gallon drum. It was like, all right, your people are stuck to half gallon or half tank. Whatever they were long lines. Fun facts. Don't point that at me. Fun fact. That's where we got the national 55, 55 mile per hour speed limit. Stop going so fast. We don't even freaking oil. And that's how we got the same. Hey, Gar, I can't drive 55, man. He was like, I don't care how much oil costs. I can't drive 55 because he's drunk because he's drunk dude. Um, uh, but yeah. So the state of the country is not prepared for something like that.

54:47Can you imagine them instituting, uh, instituting limits like that? These oil controls, these controls, they can't even get people to wear a fucking paper mask. Oh, I, I mean, that's, I think post COVID, if we ever have to do anything similar, where it's going to be a collective effort, never in a million years going to happen again. People love you. I'm going to get my fuck you. I'm going to get my shit. I want my shit. I want to come down and tell me I can't fill this, uh, big oil drum full of gas. I'll shoot you. Come try to take the poop out of my mouth. I will shoot you dead. Yeah. You want to try to take the poop out of my mouth? My kids' mouths. You want to take the poop out of their mouths? Never going to happen. I got mouse to feed. I got poop to put in there. Try to take my poop. And yeah, flight, we're going to wear the CEO of United Airlines. Are you familiar? You ever heard of United 175? Huh?

55:48It's one of the planes in September 11th. Jet fuel closely tracks diesel prices. So that's not good. And the United CEO has already said that if prices stay high, then we're going to see some cancellations come to the summer. They've already canceled some of their less popular routes. And that's it. Yeah, like L.A. Orange County, American Airlines United Southwest. There's already up 25% on somewhere else. I'm not going to go look. It's not a fun. Yeah, we're not kidding. It's not a fun thing looking for a flight. I'm curious if this lasts for much longer. I don't know how you're going to go see a fan for the haul. Yeah, you might you might just be stuck. You might just be stuck eating poop alone. You might be eating your holiday poop loaf. Poop dinners canceled. You're going to have to buy frozen poop from the grocery store. And you're going to heat it up in your microwave and just eat your little poop dinner. Oh, God, I know. I keep thinking of that guy on on TikTok. I can't remember his name though. There's some white guy who's like, my name is John something.

56:49And I'm going to eat my poop. And he's like a fetish guy. I don't know. It was a weird thing. Anyway, anyway, the audition was that was that everything? Was that everything? Did we get everything? I think that's about the same thing. Did we get everything? I think that's about the state of it. I mean, we'll see how this all shakes out. I really, I hope you guys all learn some. I'm optimistic in American abilities to eat shit. I think we can handle it. Keep plucking away somehow. But I genuinely don't know how it works. I don't know how, I don't know how everyone is affording. He's he's going to well credit cards. People are cutting back. Again, how much runway do you have with your credit card? I guess a lot. And it's it's just what would you do if you were Donald Trump? And you can't just say I would kill myself. Yeah. I would choke on the poop on the poop meal.

57:50You're doing a photo up with middle class family. I get I'm looking Americans are all eating poop. It's only right that I eat poop, dude. And he said, that's good looking poop. See, the price of poop is still. It's still the poop. The poop Biden was offering was disgusting. Yeah, the poop Biden was offering was full corn. My poop is beautiful. My poop is beautiful. I offer the Americans beautiful. A perfect brown hue. They're saying it's a perfect brown hue. The perfect smell. It felt that wet sticky stuff. The Biden was off. No, no, no, it comes out dry. They're saying it's no like poop. No white poop. Nice beautiful logs. Yeah, nice, beautiful, perfect logs. You can cut you can cut it with a plastic knife. You can cut it. That's how I go. Go to your family. Nice Christmas loaf. I'm giving you. Yeah, yeah. You can grade it. You can grate some poop over the poop that you eat. And disgusting. Yeah, it's pretty gross. But you guys are eating it. Well, we're eating it. We're eating it. Yeah, yeah. Not like those fat cats in down in Washington eating the primo stuff, the premium poop,

58:52it comes from like Chinese virgins. I'm like, my hands on some of that. Some of that Chinese virgin, because they're, you know, their diets are pure. Oh my god. I can smell it now. We hope you guys learned something about before we get into Paramount. We hope you learned something about diesel and why it's so important. It makes the world work. And why, yeah, we got to rush us, got to get their act together. We got to get our act together. We got to solve this problem and get the diesel price. We got to get these diesel prices lower so that people can afford to eat better poop. Generic democratic politician of Russia's got to get their act together. Yeah. Can you imagine the balls? I'm going to go out on TV and say, Russia's got to get their act together. Russia's got to get their freaking act together. And Iran has to get their act together. Iran's got to get their act together. They have to get their act together. Come on, you guys. Come on. Come on. We're all in this together. They're red sea.

59:55They're red sea. Can you believe this? Well, we're trying to build up turning the price. The Ukrainians have to get their act together. They got to get you. Hey, stop with the drones. Drones used to be something of source of joy. Now there's a source of terror and fear. Riced. Oh my God. Anyway, a vote for me is a vote for good poop. And these are Rocky militias. Gotta get that out. Cut it out. Cut the crap. I know they're sitting there. They're just begging to be bombed. But leave the pipelines alone. Like you said with their binoculars. Cut the crap. Cut the crap over there so we can cut the crap over here with our families for the holidays. Thank you very much. Tell us what's going on with Paramount. Speaking of eating crap. You guys remember the Paramount merger? Or did I set it backwards? Paramount, Warner merger. Not Paramount merger. 100 and something billion dollar merger. It was a nightmare. There was a real, who's it going to be? Paramount toward Netflix. A real, a veritable, loose, loose situation.

1:00:57But I have to think we would lose less if it was Netflix. As much as I hate to say it. But Paramount was going forward with the merger. Paramount. And luckily, it seemed like something nice was going to happen. Something nice. The federal government was never going to do it. But states were like, hey, why don't we could govern? Isn't that a novel idea? So 12 states led by California. And their attorney general Rob Bonta. And this includes states Nevada, Colorado, New York, New Jersey, Connecticut, New Mexico, Washington, Oregon. And they were basically saying that, hey, we're enforcing any trust law here. This is a clear violation of the Clayton Act, which is a century old, any trust law preventing mergers that weaken competition and raise consumer costs. And they're saying combining two legacy movie studios clearly gives Paramount Warner too much market share in wide release, wide release movies and blockbusters.

1:02:00And Paramount was pissed. This is bad for them. I'm pumped up. I'm pumped up. Paramount. They were on a ticking clock. Starting October 1st, they were going to have to start paying Warner shareholders this like ticking fee would basically cost them $7 million per day. Once October 1st hit. And the trial was scheduled for March 20, 27. So long time to be paying a lot of money. Yeah, there was something like $1 billion. And they were doing all kinds of things. They were saying that they were saying that they were going to leave California. They were talking about how we're going to Tennessee. We're panicking in California because that would be a big deal. If Paramount chose to just pack up and leave Tennessee, that's what they were saying. I think they were also talking about Tennessee were fucking pumped for a minute. Yeah, oh, yeah.

1:03:01And apparently it wasn't even, it was never going to happen. They just like released some statements and outlets were reporting on it. Having knew some got involved, they caved. They cut a deal. Five year deal. They cut a settlement deal. And it's Paramount's coming out in a huge way. People are extremely pissed. This feels like a real death knell in Hollywood. And they got basically nothing. Matt Stolar and Alvaro Badoia are great followers for if you want to learn about any trust stuff, they're like, they're always commenting on this stuff online. They kind of picked through the settlement and just even if you just take it on its face, it's just not great. So they're talking about a minimum investment of one and a half billion dollars in domestic TV and film production. That's $300 million annually over five years.

1:04:04And they're required to still produce 30 films per year in the deals first two years releasing theaters. Well, I'm going to get to it. Just I'm just and then rising to that rises to 32 films per year in the following three years. And now yeah, they they pointed out it's kind of bullshit. Why? Well, number one. So the enforcement mechanisms, that's the other thing. You know, like we talked about with the the metacetelman, you can write down, oh, you have to do this. What's the enforcement mechanism? What's going to happen? So they talk about how if they don't, if they fall short of these movies, they were supposed to produce they owe 30 million dollars for every movie they don't produce. But exactly it goes to some weird government fund that then's going to take a while to get like dispersed to everyone and which the whole point of those still being produced was that they were going to instead of going to some government fund, it was going to go directly to production, people who work in production, actors, directors, writers,

1:05:11people who work in the movie business, right? It was going to create jobs and pay people. And now even if it's going to get routed to them, it's going to be, it's going to take so long for it to get to them. And you got to pay your rent, you know what I mean? And then the other thing is that they don't actually have to produce 30 movies. They have to release 30 movies. They so they can take existing properties and just release them if it counts re-releases. Oh my god. So they're not, they don't have to make 30 films a year, they have to distribute that amount. How does Rob Bonta screw that up? Did he just not have a fucking good consult? Well, that's the other thing too. This thing is so silly. When he came out with the settlement, he was like, I think this is a good deal, but I want to go on record and I want to say I don't believe that these two companies should merge.

1:06:12It's like, then don't fucking let them keep blocking it, dude. What is wrong with you? So yeah, and then Matt Stolar pointed out that all of these concessions are void. There's a little, there's a little clause that says if there's a non-economic, if there's a recession, they can void these terms to be able to write out the recession. At least four films per year must be independent, independent films. It's also a complete joke. I someone pointed out what that actually means, what the definition of independent film is in this settlement. Ready? These are real indies. You're going to like this. This means a film that is either based on an original screenplay or originated from film producers outside of the combined entity, entity, Disney, Universal or Sony. So there's no like, so it could be an age of $1 million budget, just if it came from outside of them. And is an original screenplay? Oh, it has to be that and. No, no, sorry, it's or.

1:07:15So yeah, and a commitment to keeping operations in California, but apparently that's even a little tenuous. I think they're allowed to move their headquarters. They're just not allowed to move the studios at this point. And then of course, because people are worried when all this was going on, now the Ellison's are going to own not just these film production companies, but these TV stations. They're going to be basically in charge of like every major news network. Yeah, because they don't have to spin off the cable networks. Yeah. And so they're going to, but don't worry. They're going to have an editorial independence board for CBS and CNN. Yeah, which is again, Matt slower pointed out it's bullshit. The editorial board will be appointed by David Ellison. It's just like, well, surely he's not going to pick favorites or anything like that. I don't think you would do that. So come on. It's not good. It seems like the layoffs are going to come. Less movies are going to be made. It's just it's a very, it's very sad living here and watching the towns being hollowed

1:08:23out. I mean, this was it was a one industry town. The industry was doing very well for a long time. They were interviewing people in the who were protesting today on the radio. And there were only like 30 people who showed up to protest, but a few of them were actors. And yeah, they were talking about how it used to be a viable profession, at least if you made it onto a show. But now it's like even people who are on shows, you're not necessarily making life changing money. The amount of people I've talked to who have like booked the big gig. And then I mean, even anecdotally, I've heard from you like that come to mind where I'm like, oh, shit, dude, like you fucking made it. And they're like, no, I fucking have not. Yeah. And you're like, what? Yeah. You can, you can make a Hollywood movie and have a very high roll in it. And you're not making a ton of money. And they're like, no, no.

1:09:23And then they say that your agents say, oh, you'll make money on the next one. Yeah. Which doesn't come. And the next one comes or it doesn't come. Yeah. The next one comes and it's like, no, the next one. Yeah. But good Lord, it's, it's very sad to watch. It's the opportunities are just trivling up. Well everybody, let us know what you think in the comments. Do you like diesel? Do you like eating poop? What's your favorite brand? What's your brand of poop? What's your favorite style of eating it? How do you like it prepared? We would also like to say Russians cut it out. Yeah. Chill out. We're right together. Cut it out. Yeah. And Donald Trump. Donald Trump. Freaking, come on. Fucking come on. God almighty. All right. Jonas in the bub bub bub bub bub bub bub bonus. I'm going to be talking about some shit.

1:10:24Globbular springtails. That? Ice coffee. The ice coffee thing with you, Jen's ears and the fucking you guys are, you just, you just don't learn. What does that mean? I'll tell you in the bonus. Come on in the mealshow.com. Thanks for tuning in, you little freak. Coming up on this week's episode of Ben and Emil Show.com. He's joking. He choked on an egg. Oh, contributing factors. He was hospitalized for complications related to a severe flare up of sickle cell andemia. Oh, my God. Why'd you say he killed himself? No, the guy from the prodigy killed himself. Oh, oh, yeah. So two of the exact same prospective employees come. Yeah. They're the same exact, same exact, whatever it doesn't matter. They're both the, basically the same person.

1:11:26Okay. They come in in the same clothes. They're identical twins. Yeah, yeah. They talk exactly the same. They give the same answers. One brings a nice coffee. I'm hiring them both half wages to complete to make one person. One brings a nice coffee. The other one doesn't. You're saying you're just, you're like, that's a strike. I'm not hiring the guys. Yeah, actually, all things being equal. All things being equal. I'm going to go with the guy who didn't bring the ice coffee or the gal or woman person who didn't bring the ice coffee. All right. Perfect. Okay. Okay. Great. Okay. They're doing now for the right way. That's how I did it. Okay. You're, you, you, you didn't seem that difficult. That's where to go. When I go to Japan in December, if I can't get it, I'm causing a ruckus and I'm getting arrested. I would love for you to get arrested in Japan. Mr. President, my company told me of the explosion I'm not re-earned on October 2nd.

1:12:28Causing massive water displacement and triggering the tsunami. They all keep the blame all me. This hum cruise is. Diggered on us into the specimen and Digger is going to dig us out. From the director of Birdman and the Revenant. What would happen if I stopped moving? You stole, you freeze to death, that's what? With great power, comes great deniability. I'm not the Earth's dead. Digger, see the Traylon law. Only in years until we're second rated R. Under 17, I'm in without parent.