Gulf Oil

Let's bring in Tom Kloza.

He's chief energy advisor at Gulf Oil.

Tom, we're monitoring the Saudi Arabian oil pipeline system hit by projectiles.

Do you see that becoming a major factor in the prices we're already paying for petroleum?

At the White House, Owen Jensen, EWTN News Nightly.

Let's bring in Tom Kloza, the chief energy advisor to Gulf Oil and a longtime energy market analyst.

Tom, great to have you with us.

Nice to be here.

He was a writer.

He worked for Gulf Oil Company.

He was what's called a landman.

In my childhood, I spent in Somalia, Venezuela, London, Rome.

It's us or rust.

New York Yankee Baseball is sponsored by Yoo-Hoo Beverages, the Household Finance Corporation, Champion Spark Plus, Budweiser Beer, and by Ripple's Home Improvement Centers, Gulf Oil, and Colonial Provisions, makers of Yankee Franks.

Well,

hi, everybody, and welcome to New York Yankee Baseball from Royal Stadium in Mid-America, Kansas City, Missouri.

as Russia extends its ban on diesel exports, while product tanker transits through Hormuz have not picked up significantly.

Now, Tom Kloza from Gulf Oil noting that while total U.S. refinery runs are above last year, the U.S. is actually producing 127,000 barrels per day less distillate than in 2025, and thanks to an abundance of lighter and sweeter crudes rather than more medium and heavy grades.

And looking across the country, a number of states seeing record diesel prices today, including Iowa, Kansas, Nebraska, South Dakota and Texas.

That's problematic as the harvest season gets underway.

The new crude oil agreement between the U.S. and Venezuela might be fabulous one day for our kids or grandkids, but it won't do anything for the price at the pump this Labor Day weekend if you're going on a road trip.

Here's Tom Kloza, chief energy analyst at Gulf Oil.

Tom, what are we facing?

It'll be the most expensive Labor Day ever, probably about 90 cents above what we paid last year and maybe 20 cents above what the record has been so far.

when the Iran war ends because there's a lot of non-OPEC production coming on stream.

And the United States continues to put out about 14 million barrels a day of crude.

We're speaking with Tom Kloza, Chief Energy Advisor at Gulf Oil.

How come, by the way, it could take, I think I saw one report, upwards of 15 years, if not longer, to pull oil out of the ground in Venezuela if we were to, say, start next week?

No, darling, that shan't be me." Somebody else grabs a live turtle, rips the shell off, and starts licking the interior of the shell, and I'm like, "That's cinema, baby.

That's, that's the Saudi money." You know, when we, when we go to Gulf Oil and fill up our Subaru, that's where [laughs] it's going, to finance this.

And it's worth it, I'm telling you.

Um, no, I felt pretty good about, about that sequence.