THE SHOW NOTES: Booming Oil Prices, Anxious Democrats, & On The First Date??

Welcome! After 28 hours we finally have answers on the missing F-35.

BREAKING: US debt hit $33 trillion for the first time ever.

HEADLINE: The ‘Fastest Growing Development’ In The U.S. Is A Magnet For Illegal Immigrants - Dailywire

GOV: Matt Gaetz is running for governor of Florida.

FIRST DATE: The infamous Lauren Boebert video was a first date.

NFL: Browns' Nick Chubb done for season with knee injury so bad ESPN refused to show replay in loss to Steelers - Yahoo

SHUTDOWN: McCarthy gets tough with the right - Politico

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Booming Oil Prices

The price of a barrel of oil has surged nearly 30% since June with prices nearing $100 per barrel thanks to voluntary production cuts by Saudi Arabia and Russia.

Shortage: Refineries are warning everyone to expect a shortage in diesel fuel in the coming months as production cuts have disproportionately impacted the specific oil used in diesel production. The recent surge to $140 per barrel in diesel-specific oil is likely the beginning of higher business costs that will be passed onto consumers.

Why this matters: The oil-focused energy crisis is providing a new headache to the Federal Reserve’s fight against inflation. As the Fed seeks to bring inflation back to its 2% target, deeper oil cuts mean consumers are paying higher transportation costs while businesses are passing on higher costs to an increasingly penny-pinched consumer.

Tomorrow: The Federal Reserve is releasing economic projections tomorrow at the conclusion of their two-day meeting. While it is unlikely that an additional rate hike will be announced, factors such as a looming government shutdown, the recurrence of student loan payments, and surging oil prices could force rates higher before the end of the year.

Daily Caller: Biden Admin Shells Out Over $5 Million To Give Journalists ‘Trauma-Informed’ Support If They’re Getting Trolled

The Biden administration has approved $5.7 million in grant funding to George Washington University to create a program that will provide psychological care to journalists who believe they are the targets of “misinformation-driven harassment campaigns.”

The program, called Expert Voices Together, is described in the government grant database as “a socio-technical system that provides real-time support to experts experiencing online harassment.” The project’s goal is to provide journalists, and eventually other “experts,” with means of “monitoring and reporting” alleged abuse, as well as “personalized assistance with digital safety” and access to “mental health care specialists” as a form of “trauma-informed care.”

Full story at The Daily Caller.

Washington Post: Anxiety ripples through the Democratic Party over Biden

A growing number of polls are showing voters concerned about President Biden’s age and energy. Democratic lawmakers have hesitated to offer full-throated endorsements of his running mate. Prominent commentators have ruminated on whether he should drop out of the presidential race.

This series of political vulnerabilities — along with House Republicans announcing an impeachment inquiry and the Justice Department indicting Biden’s son on gun charges — is now sending waves of anxiety through parts of the Democratic Party, as some fret about whether the man who helped oust Donald Trump from the White House may not have the vitality, at 80, to successfully prevent a return.

Full story at The Washington Post. (paywall)

Expanded Strikes

As the United Auto Workers strike enters its fourth day, union bosses claimed they would send additional workers on strike if “substantive progress” is not made by the end of this week. The vague terminology offers little guidance as to whether more workers will head to the picket lines.

Details: The 12,700 workers currently on strike at GM, Ford, and Stellantis plants represent less than 10% of the total unionized workforce at the three automakers. The UAW could send a significantly larger portion of workers on strike but would be forced to offer strike pay to the growing number of striking employees.

🔥 Trending news:

• Russell Brand Demonetized on YouTube Amid Rape, Sexual Assault Allegations - Mediaite

• Stuart Varney: Democrats are plotting to replace Kamala Harris - Fox Business

• Ecuador locked up a drug lord. He just released a music video from prison. - MSN

• Trump wrote to-do lists for assistant on White House documents marked classified - ABC

• State Officials Await Ballot Fraud Investigation as Gomes Campaign Heads to Court - CT News

• A bright spot at the intersection of farming, electric vehicles and solar energy - VM

• Family says 14-year-old daughter discovered iPhone taped to back of toilet seat on flight to Boston - AP

• Rare dinosaur skeleton, known as ‘Barry,’ goes on sale in Paris auction - CNN

• Hedge fund bets could spark turmoil in US Treasuries, BIS warns - Financial Times (paywall)

Market snapshot: