"KUDLOW" IS COMING UP NEXT.
♪.
LARRY: HELLO, FOLKS, WELCOME TO
"KUDLOW," I’M LARRY KUDLOW.
SO OPEC PLUS WENT AHEAD AND
SLASHED TWO MILLION BARRELS A
DAY FROM PRODUCTION DESPITE THE
PATHETIC ENTREATS FROM THE BIDEN
ADMINISTRATION.
THE PRESIDENT AND HIS MINIONS
WENT BEGGING HAT IN HAND AND
THEY GOT NOTHING.
BECAUSE OF MR. BIDEN’S MISS
BEGOTTEN UNSCIENTIFIC HYSTERICAL
OBSESSION OVER CLIMATE CHANGE,
HIS HOLY JIHAD AGAINST AMERICAN
FOSSIL FUELS WE NOW FIND
OURSELVES ONCE AGAIN DEPENDENT
ON THE MIDDLE EASTERN OIL
SHEIKHS.
BUT WAIT A MINUTE.
IT IS OPEC PLUS NOWADAYS.
THAT INCLUDES RUSSIA.
THAT IS ANOTHER OPEC, SAUDI
STICK IN THE EYE TO AMERICA
SINCE HIGHER OIL PRICES WILL
HELP FINANCE VLADMIR PUTIN’S WAR
AGAINST THE UKRAINE.
IN TWO YEARS REALLY, LESS THAN
TWO YEARS, JOE BIDEN HAS TAKEN
THIS COUNTRY FROM FORMER
PRESIDENT DONALD TRUMP’S ENERGY
INDEPENDENCE OR DOMINANCE TO A
STATE OF ENERGY DEPENDENCE ON
OUR ADVERSARIES.
WE HAVE GONE BACK TO THE ENERGY
STONE AGE.
REMEMBER ALL THE GREAT
KNEE-KNOCKING SPHERES
SURROUNDING FINANCIAL MARKETING
AND THE ECONOMY IN THE 1970S,
THE ’80s, THE ’90s AND EARLY
2000s, WHEN EVERY OPEC MEETING
WAS SURROUNDED BY HIGH DRAMA
SPECULATION BECAUSE THE REST OF
THE WORLD FEARED OIL SHORTAGES
AND SKY-HIGH PRICES?
AS RECENTLY AS 2008, NOT SO LONG
AGO OIL JUMPED TO $150 A BARREL,
LARGELY BECAUSE OF OPEC AND OPEC
PRICE SPIKES WOULD INEVITABLY
LEAD TO HIGH INFLATION AND DEEP
RECESSION.
THAT IS THE SITUATION
JOE BIDEN’S GREEN NEW DEAL
POLICIES HAVE PUT US INTO ONCE
AGAIN.
IT IS A TERRIBLE SITUATION.
IT IS AN UNNECESSARY SITUATION.
IT DAMAGES OUR ENERGY SECURITY
AND OUR NATIONAL SECURITY.
YOU KNOW, ONLY A FEW TRUMP YEARS
AGO THE U.S. WAS PRODUCING
SLIGHTLY MORE THAN
13 MILLION BARRELS A DAY
OUTSTRIPPING THE SAUDIS AND THE
RUSSIANS AND EVERYBODY ELSE BY A
WIDE MARGIN.
OUR BEST IN THE WORLD ENERGY
INDUSTRY WAS CALLING THE TUNE ON
OIL AND NATURAL GAS AND
GASOLINE.
NOW WE’RE WHISTLING IN THE
GRAVEYARD.
THIS IS WHAT BIDEN HATH WROUGHT.
ACCORDING TO THE INFORMATION
INFORMATION ADMINISTRATION WE
SHOULD BE AT 14 MILLION BARRELS
A DAY RIGHT NOW, ON OUR WAY TO
15 MILLION BARRELS A DAY BY
2024.
INSTEAD DESPITE RECORD HIGH
PRICES, WE ARE AT
11.8 MILLION BARRELS IN THE LAST
MONTHLY READING THIS PAST
SUMMER.
AGAIN, PRE-PANDEMIC WE WERE OVER
13 MILLION.
SO WE’RE ABOUT A MILLION 1/2
BARRELS SHORT.
WE’RE ALSO OVER A MILLION BEARS
SHORT OF GASOLINE.
ALL OF THIS THANKS TO BIDEN’S
WAR ON FOSSILS.
ANOTHER POINT, THE BAKER HUGHES
RIG COUNT, AN INDICATOR OF OIL
AND GAS DRILLING IS ONLY 604
TODAY.
IT WAS OVER 800 DURING THE TRUMP
YEARS.
THAT IS NOW OUR PRIVATE
COMPANIES HAVE BEEN FORCED TO
CUT BACK BECAUSE OF BIDEN’S WAR
ON PERMITTING, DRILLING,
FRACKING, PIPELINING, REFINING,
AND LNG TERMINALS.
CLOSING THE FOSSIL SPIGOTS HAS
JEOPARDIZED NOT ONLY THE
ECONOMIC WELFARE OF OUR CITIZENS
HERE AT HOME BUT OUR NATIONAL
SECURITIES & EXCHANGE COMMISSION
POSTURE ABROAD.
WE WERE AND ENERGY POWERHOUSE.
BIDEN NOW HAS GIVEN THAT
POWERHOUSE TITLE BACK TO OPEC.
ON TOP OF THAT BIDEN IS
DESTROYING THE STRATEGIC
PETROLEUM RESERVE THAT WAS
ORIGINALLY MEANT TO PITCH IN FOR
SALES DURING TEMPORARY NATIONAL
DISASTERS AND TO SUPPLY OIL
DURING WARTIME EMERGENCIES OR
OPEC OIL EMBARGOES, REMEMBER
THEM?
INSTEAD BIDEN HAS DEPLETED
ROUGHLY 50% OF "SPRO" FOR
POLITICAL, ELECTION YEAR PRICE
FIXING TO SUPPRESS OIL, GASOLINE
COSTS AT THE PUMP.
HERE TO THE SAUDIS HAVE OUT
WITTED HIM BECAUSE BY CUTTING
PRODUCTION THE BIDENS WILL HAVE
TO PAY HIGH PRICES TO REFILL THE
PETROLEUM RESERVE HOISTED ON
THEIR OWN PITARD.
IRONICALLY AS OPEC MOVES OIL
PRICES IN THE SO-CALLED OCTOBER
SURPRISE AND GAS PRICES EDGE
HIGHER, IT IS THE BIDEN
DEMOCRATS WHO ARE GOING TO PAY A
PRICE AT THE POLLS.
THIS WHOLE CATASTROPHIC SCENARIO
IS HOMEMADE BY THESE GLOBAL
WARMING CENTRAL PLANNERS WHO
HAVE DONE SO MUCH DAMAGE TO OUR
ECONOMY AND TO OUR COUNTRY.
ALL I CAN SAY IS THANK GOODNESS