ADDITIONAL SPEND SPENDING AND
DEBT UNDER THAT PRESIDENT?
JOINING ME NOW, DAVID HARSANYI,
SENIOR EDITOR FOR "THE
FEDERALIST."
DAVID, GREAT TO SEE YOU.
WITH WHERE TO EVEN BEGIN WITH
THIS.
"WALL STREET JOURNAL" TODAY, THE
ELECTRICITY COST INDEX IS UP THE
MOST IN AT LEAST 41 YEARS AT
16%.
THIS IS WHERE THEY’RE PLACING
THEIR BETS.
THEY’RE NOT REALLY PLACING THEIR
BETS, THEY’RE PLACING OUR BETS,
BECAUSE THIS ENTIRE ELECTRIC
VEHICLE BOONDOGGLE IS FUNDED BY
GOVERNMENT SPENDING AND SUBSIDY
CANS.
>> RIGHT.
WHEN HE SAYS INVESTMENTS, HE
MEANS TAXES.
HE MEANS MANDATES.
HE MEANS SUBSIDIES.
HE MEANS BANS LIKE IN CALIFORNIA
WHERE THEY’RE BANNING
GASOLINE-POWERED CARS IN, I
FORGET WHAT YEAR IT IS, 2032 THE
OR SOMETHING LIKE THAT.
IF YOU HAD A REAL ORGANIC MARKET
FOR ELECTRIC CARS, YOU WOULDN’T
NEED TO DO ALL THIS STUFF.
YOU WOULDN’T NEED TO SPEND $900
MILLION TO BUILD FILLING
STATIONS, YOU KNOW, WHERE YOU
CAN GO WITH ELECTRIC CARS WHERE
YOU’RE JUST GETTING FOSSIL FUEL
IN A DIFFERENT WAY, IT JUST
TAKES A LOT LONGER.
YEAH, IT’S A BOONDOGGLE, IT’S A
SCAM.
DAGEN: WHERE DOES IT GO THOUGH,
DAVID?
HOW MUCH MORE MONEY ARE THEY GOING TO PILE INTO THIS?
GOING TO PILE INTO THIS?
AND IF YOU JUST LOOK OVERSEAS AT
THE GRAVE ENERGY CRISIS THAT
ENGLAND AND THE WHOLE CONTINENT
ARE FACING, I MEAN, THE POLICY
RESPONSES THERE ARE DISASTROUS
IN AND OF THEMSELVES LIKE
CAPPING ELECTRICITY COSTS FOR
HOUSEHOLDS IN BRITAIN AND NOWED
TODAY IT’S HAPPENING IN FRANCE.
AGAIN, ELECTRICITY PRICE HIKES
WILL BE LIMITED TO 15% NEXT YEAR
WHICH WILL LEAD TO SHORTAGES,
BUT AT LEAST THEY’RE BEGINNING
TO LEARN THAT IT NEEDS TO BE ALL
OF THE ABOVE INCLUDING NUCLEAR
AND TO HAVE MULTIPLE SOURCES OF
RELIABLE ENERGY.
BUT HERE IT’S INSANITY.
>> YEAH.
I MEAN, CALIFORNIA, FOR
INSTANCE, LEADS THE COUNTRY
BECAUSE THEY’RE SUCH A BIG
MARKET, YOU KNOW, IN CARS AND
OTHER THINGS.
BUT THEY’RE FOLLOWING GERMANY’S
LEAD.
GERMANY HAD PROBABLY THE WORLD’S
BEST NUCLEAR PROGRAM.
THEY HAD A LOT OF ENERGY, AND
THEY DECIDED TO GO IN A
DIFFERENT DIRECTION BECAUSE OF
GREEN POLICIES, AND NOW WHAT ARE
THEY DOING?
THEY’RE USING MORE COAL.
THEY WERE RELYING ON RUSSIA, AND
NOW THEY’RE IN BIG TROUBLE AS IS
THE REST OF EUROPE.
THEY’RE TURNING TO PRICE
CONTROLS.
HOW MANY TIMES DO WE HAVE TO SEE
PRICE CONTROLS FAIL AND CAUSE
SHORTAGES TO REALIZE WHAT A BAD
POLICY IT IS?
SO, I MEAN, I THINK WE’RE HEADED
IN THE SAME DIRECTION HERE.
YOU SAW CALIFORNIA, THEY
ESSENTIALLY HAD TO BEG PEOPLE
NOT TO USE AS MUCH ENERGY.
THAT IS, I’M JUST NOT SURE HOW
LONG THE AMERICAN PEOPLE PUT UP
WITH IT.
BUT SO FAR YOU HAVE BIDEN DOING
IT THROUGH EXECUTIVE ACTIONS,
DOING IT THROUGH POLICY.
SO WE’RE HEADED IN THE WRONG
DIRECTION.
DAGEN: AND ON THAT NOTE, THIS
HAS BEEN REPORTED THAT FEDERAL
OIL LEASES ARE DOWN OUT OF THIS
ADMINISTRATION TO THE LOWEST
LEVEL UNDER ANY PRESIDENT AT
THIS POINT IN THEIR TERM STINTS
AT LEAST -- SINCE AT LEAST WORLD
WAR II.
BUT THEN "THE WALL STREET
JOURNAL" EDITORIAL BOARD
REPORTING THIS, AND IT’S BEEN
REPORTED ELSEWHERE THAT GOING
ABOVE AND BEYOND THAT, THE
INTERIOR DEPARTMENT HAS NOW
STOPPED PREVIOUSLY-APPROVED OIL
AND NATURAL GAS LEASES ONCE THEY
WERE APPROVED IN 2019 AND 2020.
SO OIL AND GAS PRODUCERS THAT
BOUGHT THOSE LEASES YEARS AGO,
HAVE INVESTED IN DEVELOPING
THEM, WILL NOW BE IN LIMBO FOR
MONTHS IF NOT YEARS.
DO THEY NOT UNDERSTAND THAT YOU
NEED ELECTRICITY FROM, SAY,
NATURAL GAS TO POWER THESE CARS
THAT JOE BIDEN IS RUBBING UP
AGAINST IN DETROIT?
>> YEAH: AND WHO’S GOING TO
INVEST, MAKE GIGANTIC CAPITAL
INVESTMENTS LONG TERM WHEN HE
WAS PEOPLE LIKE THIS IN
GOVERNMENT WHO JUST SIMPLY WILL
SIGN AN EXECUTIVE ORDER AND RUIN
THEIR BUSINESS, RIGHT?
SO THAT MATTERS TOO IN HOW MUCH
WE INVEST.
BUT THIS IS THE FIRST TIME IN
AMERICAN HISTORY, I THINK, THAT
YOU CREATE THIS SORT OF
SELF-INFLICTED DESTRUCTION OF
ECONOMIC GROWTH.
IT’S -- WHEN YOU’RE DESTROYING
MODERNITY, THAT’S NOT PROGRESS
MANY ANY WAY JUST BECAUSE YOU
CALL IT THAT, JUST BECAUSE, YOU
KNOW, YOU HAVE THESE INEFFICIENT
ENERGY SOURCES LIKE SOLAR AND
THINGS LIKE THAT, YOU’RE NOT
MOVING FORWARD JUST BECAUSE YOU
HAVE SOMETHING NEW.
IT DOESN’T WORK AS WELL, IT’S
LESS EFFICIENT, AND THAT’S WHAT
WE’RE DOING.
AND WE’RE DOING IT ON PURPOSE.
IT MAKES NO SENSE.
IT HURTS PEOPLE WHO ARE POOR
MORE THAN PEOPLE WHO ARE RICH,
PEOPLE WHO CAN BUY ELECTRIC CARS
EVEN WHEN THEY’RE SUBSIDIZED.
IT DOESN’T HELP IN ANY WAY.
DAGEN: AND THAT CORE VET, I
THINK IT HAS AN INTERNAL --
CORVETTE, I THINK IT HAS AN
INTERNAL COMBUSTION ENGINE, IF I
KNOW MY CARS.
THAT THING COSTS $100,000, MORE.
>> YEAH.
DAGEN: AGAIN --
>> THE ONLY REASON PEOPLE CAN
BUY THESE ELECTRIC CARS IS
BECAUSE THERE’S THESE HUGE
SUBSIDIES AND THEN, YOU KNOW,
YOU GET THIS TAX BREAK.
NORMAL PEOPLE WOULDN’T BE ABLE
TO BUY THOSE CARS IF THEY
ACTUALLY COST WHAT THEY’RE
SUPPOSED TO COST.
DAGEN: IT’S ALL A WAY TO HIDE
THE REAL COST OF IT FROM THE
AMERICAN PEOPLE WHO ARE
SUBSIDIZING THE PURCHASE.
I’LL JUST QUOTE YOU TO YOURSELF,
HARSANYI, BEFORE WE GO.
GROCERY PRICES ARE UP 13%, BUT
DON’T WORRY, YOU’RE ALSO PLAYING
FOR YOUR NEIGHBOR’S GRAD SCHOOL
AND HIS TESLA, DAVID.