00:00Republicans on Capitol Hill walk by this gas station every morning on their way to work.
00:04And this sign behind me has to be nerve-wracking.
00:08The midterm elections are just months away, Republicans in the House and Senate are defending
00:12super thin majorities, voters are most concerned about the economy, and gas prices are making
00:18everything worse for Republicans.
00:21And here's the other problem.
00:22They can't even count on gas prices relaxing, even if the Iran war ends tomorrow.
00:27It's called the rockets and feathers theory.
00:30Whenever there's a price shock, gas prices shoot up like a rocket.
00:34Even when the factors behind that shock are removed, they drift down slowly like a feather.
00:40And so Republicans could be saddled with high inflation sparked by even higher gas prices
00:45in the home stretch of the midterm election campaign.
00:48High oil prices have raised the price of airline tickets.
00:52They've raised the price of fertilizer that our farmers are using right now to harvest crops.
00:56They've pushed up the price of diesel fuel, and on and on and on.
01:01All of that has led to a drop in President Trump's approval rating, never that great, now around 41%.
01:08And on the generic ballot that gauges which party voters would prefer be in control of Congress,
01:13Democrats now enjoy an almost six-point advantage over the Republicans.
01:17This is a political challenge that isn't going away anytime soon, just like these gas prices behind me.
01:23I'm not sure you have a new plan for some of the European countries and the European countries.
01:23You
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