BACK TO YOU.
>> THANK YOU, EDWARD LAWRENCE.
JOINING US NOW FLORIDA
CONGRESSMAN BYRON DONALDS.
MAKING JOKES ABOUT PUTIN.
REALLY TRANSFORMATIVE, KIND OF
ELEVATING THE DEBATE THEY’RE.
YOUR REACTION TO THE PRESIDENT
AND G7 TALKING A PRICE CAP ON
RUSSIA’S OIL TO STARVE RUSSIA
OUT OF ITS REVENUES IT IS USING
TO FINANCE THE WAR IN UKRAINE?
HERE IS THE THING, CONGRESSMAN.
IT IS ALREADY BACKFIRING.
OIL IS GOING UP ANYWAY.
IT COULD CREATE LOSS OF SUPPLY.
WHY DIDN’T THEY DO IT BEFORE
WITH IRAN OR VENEZUELA?
>> FIRST OF ALL IT IS NOT GOING
TO WORK.
IF IT WAS GOING TO WORK THEY
WOULD HAVE DONE IT FIRST.
YOU CAN’T PUT A CAP ON OIL
BECAUSE THE REST OF THE WORLD
WILL TRADE IT ON DOLLAR VALUE.
PRESIDENT PUTIN WILL SELL OIL TO
A COUNTRY AND THINK WILL CAP
HIM?
YOU THINK THAT WILL WORK?
THEY’RE MAKING RECORD PROFITS
WITH RESPECT TO OIL BECAUSE
THEY’RE SELLING OIL TO OTHER
COUNTRIES NOT PARTICIPATING IN
THE SANCTIONS THIS IS POLITICAL
FOOLISHNESS FROM PEOPLE WHO
FRANKLY DO NOT UNDERSTAND HOW
ECONOMIES WORK.
WHO DO NOT KNOW HOW TO DEAL WITH
SOMEBODY LIKE VLADMIR PUTIN.
ELIZABETH: TO YOUR POINT, U.S.
CONSUMER SENTIMENT, LOOKING AT
THE UNIVERSITY OF MICHIGAN
REPORT IS OUT.
IT IS LOWEST LEVEL SINCE 1952.
SO THAT IS WHAT IS HAPPENING
HERE IN THE U.S.
I MEAN WE’RE CRASHING IN
CONSUMER SENTIMENT.
IT IS WORSE THAN THE GREAT
RECESSION.
WATCH THE PRESIDENT ON RUSSIA
AND UKRAINE.
WATCH THIS.
>>
PRESIDENT BIDEN: FOR ALL THOSE
REPUBLICANS IN CONGRESS
CRITICIZING ME TODAY FOR HIGH
GAS PRICES IN AMERICA, ARE YOU
NOW SAYING WE WERE WRONG TO
SUPPORT UKRAINE?
ARE YOU SAYING WE WERE WRONG TO
STAND UP TO PUTIN?
ARE YOU SAYING THAT WE WOULD
RATHER HAVE LOWER GAS PRICES IN
AMERICA?
ELIZABETH: YOU KNOW POLLS, YOU
KNOW WHAT -- POLLS POLLS SAY
YEAH, WE WOULD HAVE LOWER GAS.
ALL DEMOCRATS HAVE DONE IS DRIVE
UP THE PRICE OF OIL AND GAS TO
U.S. CONSUMERS WITH THEIR ATTACK
ON ENERGY.
LOOK AT THIS STUNNING FINDINGS,
IRAN, VENEZUELA DELIVER 1/5 OF
WORLD SUPPLY.
U.S. IS DOWN 20% SENSE 2019.
WHY CONTINUE GOING DOWN THE ROAD
HURTING ANYBODY.
>> FIRST OF ALL, I DON’T KNOW
WHAT JOE BIDEN IS EVEN TALKING
ABOUT.
YOU CAN BE SUPPORTIVE OF UKRAINE
AND SUPPORTIVE OF AN AMERICA
FIRST ENERGY POLICY THAT WOULD
HELP DECREASE PRICE OF OIL ON
NATIONAL STAGE AND DECREASE
OTHER PRICES.
THE ADMINISTRATION COULD CLEAN
UP THE REGULATORY ENVIRONMENT IN
WASHINGTON, D.C. AROUND OIL AND
NATURAL GAS.
WE COULD START DOING THAT WORK
TOMORROW.
WE SHOULD HAVE STARTED IT A YEAR
AGO.
BUT THAT IS NOT JOE BIDEN’S
AGENDA.
HE IS COMMITTED TO GAS PRICES
RISING, AMERICA, BECAUSE HE
WANTS THIS TRANSITION TO A GREEN
NEW DEAL, A GREEN NEW WORLD BUT
THE REALITY IS AMERICANS ARE
GOING TO SUFFER REGARDLESS OF
VLADMIR PUTIN STAYED IN MOSCOW
OR WHETHER HE HAD INVADED
UKRAINE.
ELIZABETH: CONGRESSMAN,
PRESIDENT BIDEN ALSO ADMITTED
QUOTE, WE NEED MORE OIL AND
REFINING CAPACITY BUT THE
PRESIDENT JUST KILLED A MAJOR
OIL REFINERY EXPANSION IN MAY
JUST FIVE WEEKS AGO.
HE IS DESTROYING U.S. ENERGY
INFRASTRUCTURE AS BIDEN AND THE
G7 LEADERS, THEY’RE NOW SAYING
WE’LL SPEND $600 BILLION
INCLUDING U.S. TAXPAYER MONEY TO
TAKE ON CHINA’S BELT AND ROAD
PUSH TO DOMINATE WORLD
INFRASTRUCTURE?
>> WELL, TWO THINGS.
NUMBER ONE, WE SHOULD HAVE BEEN
IN THE GAME WITH RESPECT TO
GLOBAL INFRASTRUCTURE BECAUSE
CHINA IS ON THE MOVE.
LET’S PUT THAT ONE TO THE SIDE.
NUMBER TWO, WHAT JOE BIDEN DID
HERE IN THE UNITED STATES WAS
RECKLESS, FISCAL ECONOMIC POLICY
AND NOT TO MENTION ENERGY POLICY
LIKE YOU JUST STATED.
IF YOU WANT TO SEE OIL PRICES
COME DOWN, IF YOU WANT TO SEE
INFLATION UNCONTROL, WASHINGTON
HAS TO CONTROL ITS SPENDING.
THAT IS NUMBER ONE.
NUMBER TWO THE FEDERAL RESERVE
HAS TO GET BACK IN THE GAME,
WHICH THEY’RE STARTING TO DO,
NUMBER THREE, MOST IMPORTANTLY
YOU HAVE TO TAKE SHACKLES OFF
NATURAL GAS AND ENERGY COMPANIES
THAT WILL SEND A SIGNAL TO THE
MARKET THEY’RE PREPARED TO
PRODUCE MORE OIL AND PUT MORE
OIL IN THE UNITED STATES.
ELIZABETH: THAT IS THE WAY YOU
DO IT.
THAT IS SUPPLY SIDE STUFF.
THAT IS WHAT OTHER PRESIDENTS
WOULD HAVE DONE.
YOU UNLOCK THE POWER OF U.S.
ENERGY TO BRING INFLATION DOWN
TO GO AFTER PUTIN.
WHEN WE TALKED ABOUT WITH LARRY
KUDLOW ON THE SHOW, WHEN OIL
GOES UP TO 100 THAT IS WHEN
PUTIN STARTS INVADING.
HE DID IT WITH BELARUS, MOLDOVA
AND NOW UKRAINE.
RUSSIA IS CUTTING OFF GAS INTO
THE NORD STREAM 2 PIPELINE.
WHY NOT JUST GET U.S. ENERGY IN
ON THE STICK TO TAKE ON RUSSIA
HERE?
>> BECAUSE IF HE UNLEASHES U.S.
ENERGY HE IS GOING TO HAVE A
PROBLEM IN HIS POLITICAL BASE
WITH THE PEOPLE WHO WANT THIS
GREEN NEW DEAL.
THEY ARE SO WEDDED TO THIS
THING, THEY REFUSE TO ACTUALLY
ACKNOWLEDGE THE REALITIES ON THE
GROUND.
THEY STILL THINK NUCLEAR ENERGY
IS TABOO.
THEY DON’T WANT NATURAL GAS,
THEY DON’T WANT OIL.