Biden ripped for 'lie' about lowering gas prices

we've got a big chunk of the cavalry right here on set with me today in a wonderful wonderful segment coming up a nice long segment we've got steve moore committee to unleash prosperity hotline and freedomworks and the author of godzilla and kevin hassett former chair of the council of economic advisers and author of the most important book of the century stopping american slide to socialism gentlemen welcome this is the first for both of you on set well put great monologue at every part of it i agree okay let me begin uh let's just let me begin with all the fruits and nuts at davos okay you must have gone did you go to davos don't you remember i i hit we were in the roosevelt room and then and then the chief was like who wants to go to davos and i'm like over behind behind mercy schlapp once in 2017 when trump was just elected and it was one of the most extraordinarily hostile audiences i've ever spoken to and what i learned at davos was there were two things these european bureaucrats were against donald trump and brexit that's it so i mean what about this story why do we have to have astronomical gasoline prices it's not a blessing it's a curse it hurts people it hurts ordinary working folks that's my point and i meant it when i said in davos which is a lovely place up in the in the swiss alps and so forth and i was up there a couple times with uh with president trump but there's no blue collar workers all right there's no people that work with their hands or wear hard hats or build things it's all these ceos and paperwork and kevin that's the part that bothers me because it's the blue collar folks who get hurt the most by these outrageous uh uh fossil fuel prices that have been spawned by the fossil fuel crusade by uh biden and kerry and and they don't really care about climate really if you think about it so for example because you and president trump and i know you were driving force behind this you know expanded u.s natural gas production so much by making it easy to get permits and opening up public lands and so on as you then naturally get as you were well you were right in the front of that i you know i i was you know calculating the statistics that you showed that you were doing a good job but you were you were given the backup numbers to prove that we might be right yeah but but the point is that one remember one number i really remember when we put this out as a report the white house while we were there was that natural gas consumption went up so much under trump replacing coal for uh electricity generation that uh the natural gas expansion under president trump had a bigger effect on uh two emissions in the us than obama's clean power plan and so you know they celebrated obama's clean power plan they attacked president trump when he backed away from it but then when he actually accomplished what they claim their goal is a big reduction in co2 emissions nobody said thank you oh so that's how we do it instead they go to davos and they sneer at him just like they did when steve was there and they were calling him a nazi and things like that you make a really good point why is the left why are the climate change fanatics against natural gas natural gas is the single biggest force over the last 15 or 20 years that has led to dramatic reductions in co2 emissions most americans don't know this because most americans haven't been told you're exactly right over the last five or six years the united states has reduced our carbon emissions more than any of the countries that sign that damn paris climate accord i mean they make all these promises and they don't keep them i want to make one point if i could about what what uh biden said uh was it yesterday about uh the the high gas prices i've said this all along the the white house has been talking out of both sides of their mouth on this energy crisis on the one hand biden's saying the president we're doing everything we can to lower gas prices no they're not that's just a lie they're not doing everything they can they're loving it yeah exactly london they are doing everything to keep let's be honest they don't want high gas prices because they want people to lose less gas and the way to have people use less gasoline is to raise its price that's the closest i think he's come to acknowledge that they want high gas that's exactly right and you've got carrie in davos spewing forth his stuff i want to get back to kerry in a second but kevin uh on this show not so long ago former energy secretary rick perry said you know if we sold more nat gas if we had more lng exports to india to china we would do so much more not only would we help our own balance of payments but we would substitute lng for coal which is the worst emitter of all and we would make a cleaner world in fact we would do more to make a cleaner world than all the rhetoric of the paris climate accords now that's a thought that i never hear from team biden in fact that would actually be an incredible transition what what biden has is a not credible transition really and the fact is though going back to the earlier point that all this progress was made on climate all this progress was made uh under president trump on income inequality we talked about that too and the only like you go to davos and the only thing they appear to care about is income inequality and climate right those are the two things and the fact that they're in complete denial about the progress that was made it's just really cold and hard and the facts suggest that they don't really care about those issues they're just using them as cudgels to gain political power so what they want to do is they want to oppress the people they don't invite to davos and then they're using climate change and income inequality to arouse uh their their worst sentiments and get them to vote for democrats and liberals all around the world right see this is a power play and the davos thing is all about centralized that's just how it's going to say whether it's governments or ceos it's about centralized power and it becomes ideological and they're turning against the roots of free-market capitalism which is another thing that always burned me up about going to those places and if you listened and i listened to some of those speeches that have been given already at davos and they all have one theme one world government now i don't want people to say oh steve moore is a black helicopter but they believe in one world government and they want the the united nations and all these other agencies which is a direct threat this is something trump got that's a direct threat to american sovereignty and we're not going to go for that american people why they didn't like trump a related point it's so it it's also a war against the car they hate cars if you listen to the rhetoric it's all about putting everybody in mass transit except of course the elite so they'll still have their own cars but you know if you want to help kevin you can tell me if i'm right about this but i've seen a number of studies that show one of the best ways to help the poor advance economically is get them a car so they can get their jobs and they want to take cars away from people so imagine the the uh the uh mother with three kids driving her kids around to uh soccer practice and graduation all these things she doesn't have a car you know what's that's gonna mean for that anyway i don't i have nothing against electric cars oh i don't have nothing none of you but now they all cost a hundred thousand dollars so be a little hard for the person you're describing or maybe 65 or 70 000 but i have nothing against it see kevin here's um a serious question we used to talk about all the above so we have side-by-side fossil fuels and renewables and we would try to advance the technology as best and nuclear and nuclear for sure now we've lost that now my question is if you succeeded in abolishing fossil fuels in the next 20 minutes which is what john kerry wants what exactly is going to replace it what is the replacement plan right they they don't have a replacement plan and uh to actually put it in perspective this is some work casey mulligan and i did before the election that uh if everybody has an electric car then instead of getting stuff from gasoline you're getting miles from electricity and electricity generation in the us has to go up if we just move everything from the kind of car you and i have so that okay that it basically moves it up by 25 and so we have to increase power generation by 25 uh if we move everybody to electric car if you phase fossil fuels out at the same time well fossil fuels right now produce about 70 percent of the electricity in the us oh right so you're basically rebooting the entire grid it's 95 of the grid if we if we do it and if there's just no way to do it so why did they get that or why don't they acknowledge because it's not about i mean you said it very well it's not about climate change it's about control of the economy and you know larry maybe you can answer this question for me because i listen to these speeches by major ceos of not just european companies but american companies that have completely bought in to the zero carbon emissions i don't really understand the logic and was astonished at it uh back in 20 i think it was 2019 when trump spoke he was well received because the economy was doing so well right nobody could deny that it was like oh what a shock the economy's doing well the corporate tax cuts worked etc etc but other than that he was never taken seriously and politics were always you know anti-trump globalist globalization and so forth and so on and it all seemed to revolve around climate change i don't know why climate change became this global rallying cry i mean i worry about democracy in a lot of different areas but it did look let me go back to this other point um this was the newt gingrich point about big government socialism and i referred to it as progressivism i don't think kevin i mean i think i want you all to talk about the economy and how you see it right now but it ain't great and i don't think under current policies binomics policies if you will which are the progressive policies the taxing the regulating the spending the money printing and all the rest of it we will not regain high growth and low inflation until those policies are replaced that's my sense of it you tell me right no i agree and and in fact i think that they're in complete denial right now so we've got john kerry at davos uh you know he he basically could have said hey you know uh you know here's our plan to go after inflation and and to improve like reduce energy costs in the us and and so don't worry there's there's the cavalry is coming right he could have given that speech janet yellen could have done the same thing when she went uh before congress to give a talk but it said she decided that it's bad for the economy if roe v wade is repealed and so they're out there changing the subject and then it's putin's fault it's larry kudlow's fault it was actually our tax cuts were blamed this week by them uh it and the fact is it shows that they don't have a clue and and and so oh crossbone blame the laffer curve yeah the the one thing i just want to say though is that that by binomics is the denial that incentives matter so ultimately they're it's their wish hoping for the best and raise taxes raise minimum wages do whatever you want and you won't have any negative effect on anything and that's why supply is getting crushed they removed work incentives they shut down pipelines supply is getting crushed while they're helicopter dropping money and it's why every day that biden is president trump's numbers get better because people say hey it worked pretty well but you i may not have liked some of the things trump did but the policies worked spectacularly well but i i think a related important point to this though is you go i go back to that speech that trump gave about 10 12 days ago where you know when the market was just starting to get really soft and he just basically doubled down on everything we're going to do build back better we're going to do tax increases on the rich and the market has been in a funk ever since because there was no sense that this president is going to get off of these liberal progressive policies the way bill clinton did no reset there's no reset to what's your point is there i'm just trying to think you know kevin it's a very good point the only incentive i can think of is the incentive of high gasoline prices but other than that they don't buy tax incentives right we never hear that um i don't hear that's a really important point markets don't work they think of price gouging and scouting is their big client and they're going to have um they're going to have um ftc ftc interference and and everything's a monopoly or an oligopoly so how do we how do we get out of this fix i mean there's no confidence that's for sure they don't look at the stock market but the stock market is telling you there's no confidence the stock market is telling us that your recession forecasts or your recession worries are well justified uh the stock market's also telling us inflation's a problem and the fed's going to have to fix it so let's just spend a moment where do we go on the economy well you know i think that what would normally happen is that the america's voters are very rational and they're very sensible and when they see somebody failing as bad as joe biden and the democrats are failing then they tend to adjust but the fact is that even if the republicans you know sweep congress they get the house and the senate then a bill clinton or even a barack obama might have sort of sat down with republicans and said geez you know the economy is really terrible let's work something out to try to turn it around especially if it's someone who's running for re-election and they want to have a strong economy when they're running for re-election right but i think that what we've seen from the bide administration is such a lack of imagination such a lack of sentience uh that you know there's just no chance i think and the markets will expect that they'll ever work with republicans even if republicans capture congress so republicans can stop some of the regulations and so on with congressional review but for the most part we're looking at a good long slog before things start to get fixed because i don't think that biden is going to run towards the middle and work with republicans if republicans capture congress you've said i think you close every show by saying the cavalry is coming the cavalry is coming the republicans going to win a monster election november but my question are they going to get here in time before they really wrecked this economy the other thing and are they going to say the right thing can i just raise that point i don't mean to be too mischievous republicans ain't perfect that's just where i was going with this all right i see these big spending bills that are coming out of congress you know the the little indicator was that 40 billion dollar uh aid relief and my good friend and your good friend rand paul said hey let's pay for this let's find 40 billion dollars of saving somewhere else and we couldn't even get republicans to vote for that so sorry folks but i'm not sure the republicans are going to be necessarily the salvation but they certainly will be an improvement there's a 350 billion dollar help china bill compete with china bill um i have first of all it's an outrage in my opinion second of all 18 or 20 republicans voted for it third of all kevin nobody's the word pay for is not in the vocabulary anymore right well well what needs to happen uh is that we need to get like the bob rubins the larry suburbs the people that historically bring them in actually recognize that incentives matter and bring them in and work with them to try to they won't do that though they hate summers if they if they get slaughtered bad enough you know then you know maybe they will uh and i mean there's a lot of talent on their side on their team that's had you know some success in the past and so one would think that there's a chance maybe that we could work with them but my guess is it's not going to happen because you see how committed to these weird ideological fetishes in fact you know the democrats in these primaries they're actually rush rushing out of the party and they're moderate faction i mean i don't know if you've noticed in these primaries but you're getting these aoc types that are running against the few moderates that are left in the democratic party and they're beating them in the primaries so this party has moved extraordinarily one last question uh i'm trying to recruit both of you at least to the principle of a pro-growth balance budget the principle okay um which would include making the tax the trump tax reforms permanent the deregulation the energy independence the limiting of spending the making of tough choices on the spending side

Channel: Fox Business

Views: 1,726,763

Keywords: business news, fbn, fox biz, fox business, fox business channel, fox business kudlow, fox business larry kudlow, fox business network, fox business news, kudlow, kudlow tonight, larry kudlow, Will gas prices go gown soon, high gas prices, how long will gas prices be so high, Joe Biden, why are gas prices so high 2022, reason for high gas prices, Joe Biden energy policies, energy policies Joe Biden, President Biden, politics, Biden energy policies

Id: 4DNANW8jzgM

Length: 16min 39sec (999 seconds)

Published: Tue May 24 2022