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

Is Joe Biden ever serious about stopping record gas prices at the pump? That’s all you need to know.

At 10:15 this morning, Energy Secretary Jennifer Granholm He met seven CEOs of major oil companies. At 3:30 this afternoon, President Joe Biden met in the Roosevelt Room of the White House to talk about windmills with labor leaders, governors, and several makers of green windmills.

President Biden: And together, we are on the verge of building a better America. I really mean it. I mean America is better.

Wait a minute. Let’s wrap this tape again. Afternoon meeting with the President, the President, In the Roosevelt Room, Fossil Energy CEOs met with the President at the Department of Energy. What’s wrong with this picture?

Granholm meeting with oil industry leaders considered ‘constructive’ but no major breakthroughs

President Joe Biden speaking at the White House

President Joe Biden speaks about a COVID-19 relief package in the White House State Dining Room, Monday, March 15, 2021, in Washington. ((AP Photo / Patrick Semansky) / AP Images)

Since Uncle Joe is in Washington, not Rehoboth Beach, would he have been sitting around the table with the energy people who could actually solve the oil and gas problem? Nah, more fun to talk about windmills. It’s a matter of priorities, isn’t it?

By the way, I am reliably informed. Energy CEOs didn’t know about the afternoon windmill meeting with his boss. So, I think that says it all.

Biden actually thinks so 5 dollars of petrol And $100 oil and 10% inflation will be solved by wind turbines and solar farms. This is not science. This is not common sense. This is a left-wing ideology, a radical climate obsession, and working Americans will continue to suffer from high food and grocery prices, along with the exorbitant costs of petrol and diesel.

If the president had attended the oil and gas CEO meeting, it might have been a very important one, but he didn’t and he wasn’t. Participants told me that it was polite and in this sense “constructive”.

At the very least, Granholm didn’t insult CEOs the way Biden did, but when they talked about rolling back regulations, restrictions and permits, changing the Jones Act on transportation, and even short-term concessions to highly restrictive environmental regulations — at each of these points, it would increase supply and thus Reducing prices, the Minister of Energy was not able to satisfy the concerns of the oil people.

Therefore, nothing happened and nothing will happen, except that the American economy will continue to suffer on the side of the American workforce.

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There is no giving in to Biden’s strict climate ideology. He’s been held hostage by the Awakening Greens, labor unions, and some of their allies in the game of subsidizing renewable fuels and tax credits.

He will not give up an inch Fossil fuels. Biden is completely isolated. I think he is afraid to go and confront the oil people after his recent insults and blatant and realistic distortions.

“The Secretary made it clear that the administration believes it is necessary for companies to make supplies online to get more gas to the pump at lower prices,” the Department of Energy’s press release said.

And how are they exactly supposed to do that when they can’t get new drilling permits, refineries, or pipelines? Exactly how are they supposed to do that? Under the weight of extreme regulations from the Granholm Department of Energy and the Home Office, the Environmental Protection Agency, and the Securities and Exchange Commission (which you think is now the SEC), how exactly are these oil companies going to produce more? Someone explain it to me.

By the way, if you have a president and a secretary of energy among so many other people in the administration who constantly tell us that the solution to recording gas prices is solar power and wind farms and that strict policy is to eliminate fossil fuels, why would these companies launch any expansive investment campaigns when they know they might Are they completely outside the scope of this fossil work?

After all, the cavalry is coming and Congress will switch to the Republican Party in November, but the White House and Biden’s executive branch can continue to pass these fossil fuel regulations.

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These large fossil companies report back to their shareholders who own the companies. These investors will want management to distribute their capital in the most efficient and highest possible rate of return.

Joe Biden tells them: Don’t invest in fossil fuels, even though that was your business. is over. It’s good for Russia, which is now back at its pre-war peak oil production, good for the Saudis, Iranians and Venezuelans, but not good for American companies.

You can’t just ask for more gasoline. There is a time consuming process and this SPR business has failed.

The federal gas tax holiday is dead on arrival. Gasoline discounts are kind of a joke, so the president and his energy secretary just decided to issue orders to CEOs. Remember pure inflation? This is pure refining.

I trust the Lord with everything, but it is not clear to me that he will magically produce a new supply of refined gasoline. I think this is a very earthly and materialistic matter for him.

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Last point, I don’t understand the politics of this. If I were Joe Biden, and I was feeling very battered in the polls, and my party was headed for a major electoral defeat under these Greenie policies, I would probably want to change and reset and show flexibility, so there’s something that makes consumers, motorists and workers think that” Someone in the White House has eyes and ears,” but no, Biden is doubling, or tripling, the same old failed policies, not even one small cup of coffee to meet and greet with some of America’s greatest CEOs.

I’ll just conclude: what a horrific story.

This article is excerpted from Larry Kudlow’s opening comment on the June 23, 2022 edition of Kudlow.