Larry Kudlow: Is Biden serious about stopping record gas prices?

Is Joe Biden ever severe about stopping file fuel costs on the pump? That is all that you must know.

At 10:15 this morning, Power Secretary Jennifer Granholm He met seven CEOs of main oil corporations. At 3:30 this afternoon, President Joe Biden met within the Roosevelt Room of the White Home to speak about windmills with labor leaders, governors, and a number of other makers of inexperienced windmills.

President Biden: And collectively, we’re on the verge of constructing a greater America. I actually imply it. I imply America is healthier.

Wait a minute. Let’s wrap this tape once more. Afternoon assembly with the President, the President, Within the Roosevelt Room, Fossil Power CEOs met with the President on the Division of Power. What’s flawed with this image?

Granholm assembly with oil trade leaders thought of ‘constructive’ however no main breakthroughs

President Joe Biden speaking at the White House

President Joe Biden speaks a couple of COVID-19 aid bundle within the White Home State Eating Room, Monday, March 15, 2021, in Washington. ((AP Photograph / Patrick Semansky) / AP Photos)

Since Uncle Joe is in Washington, not Rehoboth Seashore, would he have been sitting across the desk with the vitality individuals who might really remedy the oil and fuel drawback? Nah, extra enjoyable to speak about windmills. It is a matter of priorities, is not it?

By the way in which, I’m reliably knowledgeable. Power CEOs did not know concerning the afternoon windmill assembly together with his boss. So, I feel that claims all of it.

Biden really thinks so 5 {dollars} of petrol And $100 oil and 10% inflation can be solved by wind generators and photo voltaic farms. This isn’t science. This isn’t widespread sense. This can be a left-wing ideology, a radical local weather obsession, and dealing People will proceed to undergo from excessive meals and grocery costs, together with the exorbitant prices of petrol and diesel.

If the president had attended the oil and fuel CEO assembly, it might need been an important one, however he did not and he wasn’t. Members informed me that it was well mannered and on this sense “constructive”.

On the very least, Granholm did not insult CEOs the way in which Biden did, however after they talked about rolling again rules, restrictions and permits, altering the Jones Act on transportation, and even short-term concessions to extremely restrictive environmental rules — at every of those factors, it will enhance provide and thus Lowering costs, the Minister of Power was not capable of fulfill the considerations of the oil folks.

Subsequently, nothing occurred and nothing will occur, besides that the American financial system will proceed to undergo on the aspect of the American workforce.

Texas’ energy grid could have to run low on vitality reserves as demand grows

There isn’t any giving in to Biden’s strict local weather ideology. He is been held hostage by the Awakening Greens, labor unions, and a few of their allies within the sport of subsidizing renewable fuels and tax credit.

He won’t quit an inch Fossil fuels. Biden is totally remoted. I feel he’s afraid to go and confront the oil folks after his current insults and blatant and reasonable distortions.

“The Secretary made it clear that the administration believes it’s vital for corporations to make provides on-line to get extra fuel to the pump at decrease costs,” the Division of Power’s press launch stated.

And the way are they precisely supposed to do this after they cannot get new drilling permits, refineries, or pipelines? Precisely how are they supposed to do this? Underneath the load of utmost rules from the Granholm Division of Power and the Residence Workplace, the Environmental Safety Company, and the Securities and Trade Fee (which you assume is now the SEC), how precisely are these oil corporations going to provide extra? Somebody clarify it to me.

By the way in which, when you’ve got a president and a secretary of vitality amongst so many different folks within the administration who consistently inform us that the answer to recording fuel costs is solar energy and wind farms and that strict coverage is to get rid of fossil fuels, why would these corporations launch any expansive funding campaigns after they know they may Are they utterly exterior the scope of this fossil work?

In spite of everything, the cavalry is coming and Congress will change to the Republican Get together in November, however the White Home and Biden’s govt department can proceed to move these fossil gasoline rules.

Stuart Varney: The Biden Presidency Failed

These giant fossil corporations report again to their shareholders who personal the businesses. These traders will need administration to distribute their capital in essentially the most environment friendly and highest doable charge of return.

Joe Biden tells them: Do not spend money on fossil fuels, although that was your online business. is over. It is good for Russia, which is now again at its pre-war peak oil manufacturing, good for the Saudis, Iranians and Venezuelans, however not good for American corporations.

You may’t simply ask for extra gasoline. There’s a time consuming course of and this SPR enterprise has failed.

The federal fuel tax vacation is useless on arrival. Gasoline reductions are sort of a joke, so the president and his vitality secretary simply determined to difficulty orders to CEOs. Keep in mind pure inflation? That is pure refining.

I belief the Lord with the whole lot, however it isn’t clear to me that he’ll magically produce a brand new provide of refined gasoline. I feel it is a very earthly and materialistic matter for him.

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Final level, I do not perceive the politics of this. If I had been Joe Biden, and I used to be feeling very battered within the polls, and my get together was headed for a significant electoral defeat beneath these Greenie insurance policies, I’d in all probability wish to change and reset and present flexibility, so there’s one thing that makes shoppers, motorists and staff assume that” Somebody within the White Home has eyes and ears,” however no, Biden is doubling, or tripling, the identical outdated failed insurance policies, not even one small cup of espresso to fulfill and greet with a few of America’s biggest CEOs.

I am going to simply conclude: what a horrific story.

This text is excerpted from Larry Kudlow’s opening touch upon the June 23, 2022 version of Kudlow.