>> WE HAVE REDUCED HEATING AND
ELECTRICITY BILLS, FOLKS HAVE
MORE MONEY TO BUY THINGS LIKE
SCHOOL SUPPLIES, REPLACE THE
DISHWASHER, TAKE A FAMILY
VACATION.
WE DO THIS BECAUSE WE KNOW WHEN
WE LOWER COSTS FOR WORKING
PEOPLE, WORKING PEOPLE CAN
PURCHASE A HOME, WORKING PEOPLE CAN THRIVE.
CAN THRIVE.
OUR NATION THRIVES.
JACKIE: HARRIS BRINGING THE
BIDEN DEMONSTRATION CREDIT FOR
LOWERING ELECTRICITY BILLS AS
AMERICA DEALS WITH RECORD
HIGH-ENERGY PRICES.
KUDLOW HOST LARRY KUDLOW, I
DON’T KNOW WHAT WORLD SHE
LIVES, IN MY WORLD THE PRICES
ARE GOING UP AND I AM GUESSING
AT THE VICE PRESIDENT’S HOUSE SHE DOESN’T SEE AN ENERGY BILL.
SHE DOESN’T SEE AN ENERGY BILL.
>> JUST LOOK AT THE NUMBERS.
SINCE THEY CAME INTO OFFICE,
ENERGY IS UP 24% OVERALL.
MOTOR FUEL IS UP 32%, GASOLINE
IS UP 31.
5%, ELECTRICITY IS UP 11%, GAS
IS UP 29%.
BRIAN: SHE WAS READING THE PAGE
UPSIDE DOWN.
THAT WAS THE PROBLEM.
>> GAS IS DOWN FROM THE PEAK,
BUT THEY SPENT HALF OF THE
STRATEGIC PETROLEUM RESERVE TO
GET IT DOWN SO THEY COMPROMISED ENERGY SECURITY AND NATIONAL
ENERGY SECURITY AND NATIONAL
SECURITY.
THE 1970s, THE OIL EMBARGO,
LORD KNOWS WHAT MIGHT HAPPEN
AGAIN TODAY. A SECOND POINT, LET ME STOP
A SECOND POINT, LET ME STOP
THERE.
TAYLOR: YOU COULD GET MORE
SANCTIONS ON RUSSIA, THE NUMBER
OF BARRELS WE ARE OR ARE NOT
PRODUCING, I SANCTIONS WORKING?
’S IS ENERGY THE WAY TO DO
SANCTIONS? >> THERE ARE A BUNCH OF REASONS
>> THERE ARE A BUNCH OF REASONS
THE SANCTIONS HAVE NOT WORKED.
TAYLOR: THERE ARE MORE
SANCTIONS AT THE PRESS BRIEFING
A FEW MINUTES AGO.
>> THE PROBLEM WITH THIS IS WE
NEVER REALLY IMPOSED THE
TOUGHEST POSSIBLE SANCTIONS ON
RUSSIAN CENTRAL BANK.
WE CARVED OUT A WE ACTUALLY
CARVED OUT ENERGY EXCEPTIONS TO
THESE SANCTIONS.
LONG AND SHORT, RUSSIA IS STILL
PRODUCING 10 MILLION BARRELS A
DAY.
A YEAR AGO, 10 MILLION.
TAYLOR: WE ARE CLEARING OUT THE
SPR.
>> NOT MUCH OF A DISCOUNT.
CHINA AND INDIA MADE UP
WHATEVER FROM THE EU, THE US
NEVER DID MUCH BUT THAT IS A
TRAGEDY. THAT IS ALL THEY HAVE.
THAT IS ALL THEY HAVE.
TO BEAT UP OLD GAS STATIONS. IF YOU GO THROUGH THE NUMBERS
IF YOU GO THROUGH THE NUMBERS
AND I WILL USE $80 A BARREL OR
WHATEVER, HE IS AHEAD BY $75
BILLION.
JUST HANG WITH ME FOR ONE
SECOND ON THIS, 10 MILLION
BARRELS A DAY, $80 A BARREL,
$800 MILLION A DAY FOR THE
WHOLE YEAR, IT IS $292 BILLION.
THAT IS HOW MUCH THEY MAKE FOR
THE YEAR THAT’S ENOUGH TO FIGHT
A WAR.
IF YOU GO BACK PARIS COVID DURING THE ENERGY INDEPENDENCE
DURING THE ENERGY INDEPENDENCE
DAYS FOR TRUMP, IT AVERAGED
$60, NOT 80, BUT 60.
I MIGHT ADD PUTIN BENEFITED
FROM A HUNDRED BUT AT $60 A
BARREL, THAT WAS $219 BILLION,
HE HAS MADE A TIDY $75 BILLION,
NUMBER $73 BILLION.
PUTIN PRICE 30%, 40%, PLAYING
WITH HOUSE MONEY. WE ARE THE HOUSE.
WE ARE THE HOUSE.
WHAT HAPPENED IS BIDEN’S WAR ON
OIL, AND 12 MILLION BARRELS A
DAY, PARIS COVID, 13 MILLION
BARRELS A DAY, THE ENERGY
DEPARTMENT SAID BY 2023 WE
SHOULD BE AT 15 MILLION BARRELS
A DAY, THE PRICE IS TOO HIGH
BECAUSE BIDEN’S WAR ON FOSSIL
FUELS.
TAYLOR: WHICH IS WHY VLADIMIR
PUTIN INVADED UKRAINE IN THE
FIRST PLACE, HE SAW THE DOOR
OPEN AND SAID I’M WALKING IN,
THANK YOU.
THIS
>> THIS IS MY LAST POINT.
HE HAS A HISTORY HERE.
WHEN OIL GETS TO $100, JUST
ABOUT $100, LET’S SEE, $130 A
BARREL IN JULY 2008, PUTIN
PICKED OFF MOST OF GEORGIA,
NICE CHUNK OUT OF GEORGIA BECAUSE HE HAD THE MONEY.
BECAUSE HE HAD THE MONEY.
ALL ACROSS $100 A BARREL.
HE PICKED A CRIMEA AND ROUGHLY
ONE YEAR AGO AS OIL WAS
PRODUCING ONE HUNDRED DOLLARS A
BARREL HE WENT INTO UKRAINE.
THE POINT IS WE, THE US, ARE
SUBSIDIZING HIM BECAUSE OF OUR
NON-COMMONSENSE POLICIES.
NOT ONLY ARE WE KEEPING OIL
PRICES WAY TOO HIGH BECAUSE OF
SUPPLY AND DEMAND, WE ARE
GIVING HIM A BIG PROFIT OVER
WHAT HE SHOULD HAVE IN THE
FIRST PLACE, AND THIS WAR WILL
GO ON FOREVER.
BRIAN: WE ARE HAMSTRINGING
OURSELVES BIG TIME.
THERE’S GOT TO BE A SHOWDOWN.
HOW DO YOU CHANGE THINGS?
REPUBLICANS HAVE THE HOUSE,
THEY’VE GOT NOTHING ELSE EXCEPT
THE DEBT CEILING.
IS THERE ANY WAY THEY CAN
LEVERAGE THAT ISSUE THIS
SUMMER.
OTHERWISE WHAT YOU ARE TELLING
IS THE WEAKNESS WE SEE NOW, IS
THE WEAKNESS IN THE FUTURE.
>> OTHER ROGUE STATES.
I DON’T KNOW AT THE END WHAT IT
IS.
I’M NOT SMART ENOUGH TO KNOW. I KNOW THE RUSSIANS ARE NOT
I KNOW THE RUSSIANS ARE NOT
MOVING OUT OF EASTERN UKRAINE.
PUTTING THAT ASIDE, WHAT HOUSE
REPUBLICANS SHOULD DO, I SAID THIS TO SCALISE AND ANYBODY WHO
THIS TO SCALISE AND ANYBODY WHO
WILL LISTEN.
HR ONE, TURN ALL THE SPIGOTS
BACK ON.
GO FROM ENERGY INDEPENDENCE.
I’M NOT OPPOSED TO WIND OR
SOLAR, YOU SHOULD GO BACK TO
THE ALL OF THE ABOVE POLICY.
DON’T PUNISH FOSSILS BECAUSE YOUR REWARDING RUSSIA AND OTHER
YOUR REWARDING RUSSIA AND OTHER
ROGUE STATES AND KILLING
MIDDLE-CLASS PEOPLE, APART FROM
WHAT DISTINGUISHED VICE
PRESIDENT SAYS.
HR ONE.
I ALWAYS SAID THAT.
THEY WILL CUT SPENDING IN THE
DEBT CEILING AND GIVE A TOUGH
BUDGET FOR FY 24
RECONCILIATION, TO ADD TO THE
TRUMP TAX CUTS BUT HR ONE, OPEN
THE SPIGOTS WIDE LET’S GET TO
14 OR 15 MILLION BARRELS A DAY
SO THE PRICE OF OIL ON THE
WORLD MARKETS COULD COME DOWN
TO $50.
>> IT IS INTERESTING WITH THE
SANCTIONS WE ARE TARGETING
RUSSIA DEFENSE, TECHNOLOGY, AND
OTHER ACTORS TRYING TO EVADE
THOSE SANCTIONS BUT NOTHING
ABOUT ENERGY SPECIFICALLY.
>> WE NEVER -- THE DAMNEDEST
THING I EVER SAW, THE CENTRAL
BANK, ALL THE TRANSACTIONS
THERE GO THROUGH THE CENTRAL
BANK.
IT DIFFERENT FROM THE UNITED
STATES.
WE ALLOW CARVEOUTS FOR A NUMBER
OF AREAS INCLUDING ENERGY.
SO WE NEVER REALLY PUT THE
CLAMPS DOWN.
ANYWAY, BRIAN, PROFESSOR,
ECONOMIC SANCTIONS, ECONOMIC
SANCTIONS DO NOT HAVE A GREAT
HISTORY.
JACKIE: WHEN YOU AREN’T COULD
DECOUPLED ALREADY.
>> YOU WIND UP PUNISHING THE
COUNTRY.
WHAT I’M SAYING IS BIDEN’S WAR
ON OIL IS REALLY FINANCING
PUTIN’S WAR IN UKRAINE.
WHAT GOOD IS THAT?
WHO IS GETTING HER HERE?
WE ARE DOING ONE HUNDRED
$30 BILLION A YEAR TO THE
UKRAINE?
REALLY?
HOW LONG YOU THINK THAT WILL
LAST?
>> NO CLAMPS ON RUSSIA, LOTS OF
CLAMPS ON THE US AND ENERGY, WE
GOT THE WRONG CLAMPS IN THE
WRONG PLACE, THE RIGHT GUY
ONSET TO TALK ABOUT IT, THEY ARE SCREAMING AT ME, WE GOT TO
ARE SCREAMING AT ME, WE GOT TO
GO.
MAYBE BRING SOMETHING ELSE NEXT