SO IS THE S&P.
♪.
LARRY: HELLO, FOLKS, WELCOME TO
"KUDLOW," I’M LARRY KUDLOW.
SO IS JOE BIDEN AT ALL SERIOUS
ABOUT STOPPING RECORD GAS PRICES
AT THE PUMP?
HERE IS ALL YOU NEED TO KNOW.
AT 10:15 THIS MORNING ENERGY
SECRETARY JENNIFER GRANHOLM MET
WITH SEVEN MAJOR OIL COMPANY
CEOs.
THEN AT 3:30 THIS AFTERNOON,
PRESIDENT JOE BIDEN MET IN THE
ROOSEVELT ROOM OF THE
WHITE HOUSE TO TALK ABOUT
WINDMILLS WITH LABOR LEADERS AND
GOVERNORS AND VARIOUS GREEN
WINDMILL MAKERS.
PRESIDENT BIDEN: TOGETHER, WE’RE
ABOUT TO BUILD A BETTER AMERICA.
I REALLY MEAN THAT, A BETTER
AMERICA.
LARRY: WELL, WAIT A MINUTE.
LET’S LOOK AT THAT AGAIN.
THE AFTERNOON MEETING WITH THE
PRESIDENT, THE BOSS IN THE
ROOSEVELT ROOM BUT THE ENERGY
FOSSIL CEOs MEETING WITH THE
UNDERBOSS IN THE ENERGY
DEPARTMENT IN THE MORNING.
WHAT IS WRONG WITH THIS PICTURE?
WELL SINCE UNCLE JOE IS IN
WASHINGTON, NOT REHOBOTH BEACH,
MIGHT HE HAVE SAT AROUND THE
TABLE WITH THE ENERGY PEOPLE WHO
CAN SOLVE HIS OIL AND GAS
PROBLEM?
NAH.
MUCH MORE FUN TO TALK WINDMILLS.
IT’S A QUESTION OF PRIORITIES,
RIGHT?
BY THE WAY I’M RELIABLY INFORMED
ENERGY CEOS DID NOT KNOW ABOUT
THE AFTERNOON WINDMILL MEETING
WITH THE BOSS.
I THINK ALL THAT SAYS IT ALL.
THE BIDENS ACTUALLY BELIEVE
5-DOLLAR GASOLINE AND 100-DOLLAR
OIL AND 10% INFLATION WILL BE
SOLVED BY WIND TURBINES AND
SOLAR FARMS?
THIS IS NOT SCIENCE.
THIS IS NOT COMMON SENSE.
THIS IS LEFT-WING IDEOLOGY,
RADICAL CLIMATE OBSESSION.
AMERICAN WORKING FOLK ARE GOING
TO CONTINUE TO SUFFER WITH HIGH
FOOD AND GROCERY PRICES ALONG
WITH OUTRAGEOUS GASOLINE AND
DIESEL COSTS.
NOW IF THE PRESIDENT HAD
ATTENDED THE OIL AND GAS CEO
MEETING, IT MIGHT HAVE BEEN A
VERY IMPORTANT, EVEN TURNING
POINT MEETING BUT HE DIDN’T.
AND SO IT WASN’T.
PARTICIPANTS TELL ME IT WAS
POLITE AND IN THAT SENSE
CONSTRUCTIVE.
AT LEAST MISS GRANHOLM DIDN’T
INSUIT CEOS THE WAY BIDEN HAS.
TALKING ABOUT PULLBACKS,
RESTRICTIONS PERMITTING JONES
ACT, SHORT TERM WAIVERS OF
OVERLY RESTRICTIVE ENVIRONMENTAL
REGS, ON EACH OF THESE POINTS
WOULD INCREASE SUPPLY AND
THEREFORE REDUCE PRICES THE
ENERGY SECRETARY WAS NOT ABLE TO
SATISFY THE CONCERNS OR THE
SUGGESTIONS OF THE OIL PEOPLE.
IT IS REALLY A PITY.
SO NOTHING HAPPENED.
NOTHING IS GOING TO HAPPEN
EXCEPT THE AMERICAN ECONOMY IS
GOING TO CONTINUE TO SUFFER
ALONG WITH THE AMERICAN
WORKFORCE.
THERE IS NO GIVE IN BIDEN’S
RIGID CLIMATE IDEOLOGY.
HE IS HELD HOSTAGE BY THE WOKE
GREENIES AND LABOR UNIONS, SOME
OF THEIR ALLIES IN THE RENEWABLE
FUEL SUBSIDY AND TAX CREDIT
GAME.
THAT’S RIGHT.
HE WILL NOT GIVE AN INCH TO
FOSSIL FUELS.
BIDEN IS COMPLETELY ISOLATED.
I MEAN I THINK HE IS AFRAID TO FACE THE OIL PEOPLE AFTER RECENT
FACE THE OIL PEOPLE AFTER RECENT
INSULTS AND HIS BLATANT FACTUAL
MISSTATEMENTS, MISSTATEMENTS.
INS THE PRESS RELEASE THE
SECRETARY MADE CLEAR
ADMINISTRATION BELIEVE IT IS
IMPERATIVE COMPANIES BRING
SUPPLY ON LINE TO GET LOWER GAS
AT THE PUMP AND LOWERS PRICES.
HOW EXACTLY ARE THEY SUPPOSED TO
DO THAT?
THEY CAN’T GET PERMITS FOR NEW
DRILLING REFINERIES, NEW
PIPELINES.
HOW ARE THEY EXACTLY SUPPOSED TO
DO THERE?
BURDENS BY EXTREMIST REGULATIONS
FROM MISS GRANHOLM’S ENERGY
DEPARTMENT, INTERIOR DEPARTMENT,
EPA AND THE
SECURITIES & EXCHANGE
COMMISSION, THAT NOW THINKS IT
IS THE SECURITIES AND
ENVIRONMENTAL COMMISSION?
HOW EXACTLY WILL OIL COMPANIES
PRODUCE MORE OR REFINE MORE?
SOMEBODY EXPLAIN THAT TO ME.
BY THE WAY IF YOU HAVE A
PRESIDENT AND A ENERGY SECRETARY
AMONG MANY OTHERS IN THE
ADMINISTRATION WHO ARE
CONSTANTLY TELLING US THAT THE
SOLUTION TO RECORD GAS PRICES IS
SOLAR AND WIND FARMS, AND THAT
THE IRONCLAD POLICY IS TO
ABOLISH FOSSIL FUELS, WHY WOULD
THESE COMPANIES MOUNT ANY
EXPANSIVE INVESTMENT CAMPAIGNS
WHEN THEY KNOW THEY MAY BE OUT
OF THIS FOSSIL BUSINESS ALL
TOGETHER?
AFTER ALL THE CALVARY IS COMING
AND CONGRESS WILL GO REPUBLICAN
THIS NOVEMBER BUT THE BIDEN
WHITE HOUSE AND EXECUTIVE
BRANCH, WELL THEY CAN KEEP
ISSUING ANTI-FOSSIL FUELS
REGULATIONS.
THAT IS ALL.
THESE BIG FOSSIL COMPANIES
REPORT TO THE SHAREHOLDERS WHO
OWN THE COMPANIES.
THESE INVESTORS WILL WANT
MANAGEMENT TO DEPLOY THEIR
CAPITAL IN THE MOST EFFICIENT,
HIGHEST RETURN RATE POSSIBLE.
JOE BIDEN’S TELLING THEM DO NOT
INVEST IN FOSSIL FUELS EVEN
THOUGH THAT USED TO BE YOUR
BUSINESS IT’S OVER.
IT IS A GOOD BUSINESS FOR RUSSIA
WHICH IS NOW BACK TO PEAK PREWAR
OIL PRODUCTION.
IT IS GOOD BUSINESS FOR THE
SAUDIS, IRANIANS, VENEZUELANS,
BUT IT IS NOT GOOD BUSINESS FOR
AMERICAN COMPANIES.
YOU CAN’T JUST ORDER MORE
GASOLINE.
THERE IS A WHOLE PROCESS WITH A
LONG LEAD TIME.
THIS STRATEGIC PETROLEUM
BUSINESS HAS FAILED UTTERLY.
A FEDERAL GAS TAX HOLIDAY, DEAD
ON ARRIVAL.
GASOLINE REBATES OF SOME KIND
ARE A LAUGHINGSTOCK?
SO, THE PRESIDENT AND HIS ENERGY
SECRETARY JUST DECIDED TO ORDER
THE CEOs.
REMEMBER IMMACULATE INFLATION?
THIS IS LIKE IMMACULATE
REFINING.
I TRUST THE LORD IN ALL THINGS,
BUT NOT CLEAR TO ME WILL
MAGICALLY PRODUCE NEW SUPPLIES
OF GASOLINE THAT MAY BE TOO
EARTHLY AND TOO MATERIAL I
SUSPECT FOR OUR CREATOR.
FINAL POINT ON THIS WHOLE STORY,
I DON’T UNDERSTAND THE POLITICS
OF THIS.
PUT MYSELF IN JOE BIDEN’S SHOES.
IF I’M MR. BIDEN AND I WAS
GETTING ABSOLUTELY CLOBBERED THE
IN POLLS, MY PARTY IS CRUISING
TOWARD A MAJOR ELECTION DEFEAT
UNDER THESE GREENIE POLICIES I
WOULD WANT TO CHANGE, RESET,
SHOW SOME FLEXIBILITY, DO
SOMETHING THAT MAKES CONSUMERS
AND MOTORISTS AND WORKERS THINK
THERE IS SOMEBODY IN THE
WHITE HOUSE WHO HAS EYES ANDERS,
BUT NO, THE BIDEN DOUBLE UP OR
THEY TRIPLE UP, SAME OLD FAILED
POLICIES.
NOT EVEN ONE LITTLE MEET GREET
CUP OF COFFEE WITH SOME OF
AMERICA’S BIGGEST CEOs.
WHAT A TRAGEDY.
I WILL JUST CONCLUDE, IT’S A
TERRIBLE STORY, IT’S A BIG