Hour 2 - Global bond markets are sliding as a spike in oil prices—driven by the escalating war in Iran—fuels fears that interest rate cuts could be delayed. Meanwhile in Southern California, drivers are seeing the immediate impact, with gas prices jumping about 50 cents in just a week. Veteran journalist Dan Walters joins the show to break down how much of California’s soaring gas prices stem from global turmoil versus state policy. We’ll also dig into the political fallout: Chevron warns of a potential economic collapse in California in a dire letter to Gavin Newsom, Republicans say Donald Trump could intervene in the state’s oil crisis, and California Democrats suddenly back away from a climate rule they supported just months ago amid fears the state’s energy market is nearing the brink.

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