Larry Kudlow: Bidens look to Venezuela for ‘very dirty oil’

Second day of the October surprise between Saudi Arabia and OPEC. Biden’s response is even worse than cutting oil production and raising prices. According to a statement from the National Security Council and the National Economic Council, the decision is: “A reminder of why it is so important for the United States to reduce its reliance on fossil fuels.”

The Wall Street Journal editorial board asks, “Do these people know how absurd they look? I couldn’t have said it better myself. In fact, I said it. In less than two years, Biden’s left-wing climate extremists have returned global energy power to Saudi OPEC, and are now adding Russia to that list.

Donald Trump left office with a dominant role, independent of energy. Joe Biden squandered that legacy by rapidly moving from independence to dependency. Biden’s unhealthy, unscientific, hysterical obsession with climate change has us back in the grip of the oil sheikhs.

Make no mistake, the oil power is a world, economic and political power. Eighty percent of the world’s energy comes from fossil fuels. After spending trillions and trillions of dollars in recent years on so-called green energy, the needle has not moved but for the tiniest infinitesimal fraction.


Radical environmentalists have never provided a serious, alternative energy framework. Never. Not once. In fact, they don’t even recognize that switching to greener energy alone would require a substantial amount of carbon energy. They may not understand it, but the majority of Americans see it through.

The US Oil and Gas Association tweeted yesterday, and I love it: “OPEC says no, SPR options are pretty much gone…WH still have one option and it’s the only option they don’t have.” should never have turned away in the first place – the [U.S.-based] Oil and gas industry. Life comes to you fast enough…”

CEO Tim Stewart will join us later on the show. I really like his spirit of truth, even though the Bidens will never understand truth in power.

Meanwhile, once again, the Bidens are running to embrace that famous democracy-loving American ally Nicolás Maduro, the President of Venezuelathe first socialist and communist country in South America – for literally a few extra barrels of very dirty oil.

Maduro is supposed to return Venezuela to a freedom-loving democracy in return for which Maduro is supposed to accept free and fair presidential elections. Be careful, this country is essentially run by the Cuban secret services.

The real democratically elected national leader is Juan Guaidó, the head of the National Assembly. Are the Bidens talking to him? Venezuela has been kept afloat in recent years by Russia, Cuba and China. Is this what American foreign policy should really be?

Then there’s a Wall Street Journal report that left-leaning Democrats in Congress are going to somehow stop Saudi OPEC from suing cartel members for anti-trust violations or taking down systems defense forces of Saudi Arabia and the United Arab Emirates.

Did the Bidens ever consider their near-desperate efforts to secure a nuclear deal with Iran a key reason – the terrorist scourge of Israel and the entire Middle East – might be a key reason why the Bidens Are Saudis now leaning towards Russia?

Next, we learn that President Biden is now considering a complete freeze on all federal offshore leases. Oh good? Are there adults in the Biden administration? Does anyone in the White House have any horse sense?

So there is Treasury Secretary Janet Yellen now blaming Pakistani floods on global warming. Oh good? Serious climatologists would tell her that such an observation requires a hundred years of data, but she does not speak to serious climatologists.


Janet Yellen, pictured here holding a press conference in the U.S. Treasury Department’s Cash Room in Washington, U.S. July 28, 2022. (REUTERS/Jonathan Ernst/Reuters Photos)

Instead, she’s too busy naming the Treasury Advisory Committee on Racial Equity, whose vice president says racism shapes our economic rules and institutions and called for defunding the police a few years ago. years.

Here, I always thought the Treasury Department was in charge of our nation’s finances, such as spending, taxes, or overseeing the banking system and keeping the dollar currency sound and reliable. I do not think so. Monsignor, will the cavalry arrive soon enough?

This article is adapted from Larry Kudlow’s opening commentary on the October 6, 2022 edition of “Kudlow”.

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