>> AS JOE BIDEN'S ADMINISTRATION WAGES A WAR ON OIL WHICH IS EXACTLY WHAT IT I MORE THAN 100 EVERYDAY HOUSEHOLD ITEMS ARE BEING IMPACTED. YOU KNOW, THINGS LIKE SOAP, GLASSES, AND TRASH BAGS. LET'S BRING IN THE HOST OF KUDLOW ON FOX BUSINESS AND OUR FRIEND, LARRY KUDLOW. LARRY, A LOT OF PEOPLE DON'T REALIZE HOW MUCH PETROLEUM IS USED IN EVERYDAY ITEMS AS WELL. >> YEAH, I MEAN, THAT'S ONE OF THE MANY REASONS WHY FOSSIL FUELS ARE SO IMPORTANT. AND WHY THE WAR AGAINST FOSSIL FUELS IS SUCH A BAD IDEA. PETE, JUST A QUICK LIST, BUT LOOK, CLOTHES, TOOTHPASTE, ASPHALT, TRASH BAGS, COMPUTER LAPTOPS, HANG ON, I'M JUST GETTING GOING HERE, FOSSIL FUELS ARE USED IN MRIs, PACEMAKERS, IV BAGS, SURGICAL INSTRUMENTS, WAIT, THERE'S MORE. STETHOSCOPES, PROSTHETICS, HEARING AIDS, GLASSES AND PETE, YOU'RE A SUPERIOR ATHLETE FROM YOUR COLLEGE DAYS I WON'T SAY WHERE, TENNIS RACQUETS, GOLF BALL, GOLF CLUBS, TENTS, TIRES, BALL POINT PENS. YOU SEE WHERE I'M GOING ON THIS. THE FIRST THING I THINK THAT THE REPUBLICAN CONGRESS SHOULD DO WHEN THE CALVARY COMES AND THEY TAKE POWER JANUARY 3rd AND I THINK THEY'RE GOING TO GO THERE IS THEY'RE GOING TO TAKE THE HANDCUFFS OFF OF THE WAR AGAINST FOSSIL FUELS. THEY WILL LAUNCH A PERMITTING BILL WHICH WILL ALLOW PERMITS AND PIPELINES AND FRACKING AND SHORTAGES IN HOME HEATING OIL WHICH YOU PROBABLY KNOW ABOUT, NATURAL GAS IS SHORT. WE HAVE TWO WEEKS OF DIESEL SUPPLIES. IF YOU CAN BELIEVE THAT. WHICH IS GOING TO BE A SUPPLY CHAIN PROBLEM. TWO WEEKS OF DIESEL SUPPLIES. IT SOUNDS LIKE HR-1 AND S-1, A BIG REPUBLICAN PERMITTING BILL. THAT WILL LOWER INFLATION. THAT WILL INCREASE GROWTH. BUT MY POINT IS, IN EVERYDAY LIFE WE NEED OUR FOSSIL FUEL RESOURCES AND TO TALK ABOUT ZERO OR NET ZERO CARBON IS JUST NONSENSE. >> NOT TO ONE UP YOU HERE, LARRY, BECAUSE YOU CAME UP WITH ALL THIS INFO. DIAPERS, PACIFIERS, TOYS, SOAPS THAT PEOPLE AT A HOME I'M A BIG HAND WASHER, VERY IMPORTANT. ASPIRINS, PHARMACEUTICALS, THE LIST GOES ON. SO WHEN PETROLEUM IS MORE EXPENSIVE OR WE'RE NOT PRODUCING IT HERE, DO THOSE ITEMS GET MORE EXPENSIVE AS WELL. >> SURE. THE COSTS ARE PASSED ALONG. THAT'S ONE OF THE REASONS WHY THE SPIKE UP IN ENERGY PRICES OVER THE LAST TWO YEARS HAS BEEN KILLING FAMILY BUDGETS. I MEAN, AND THEY'RE HAVING TO MAKE TRADEOFFS. LOOK, HERE'S ANOTHER ONE FOR YOU, PETE. FERTILIZERS. FOOD. FERTILIZERS REQUIRE, RIGHT, FERTILIZERS REQUIRE FOSSIL FUELS. SO WHEN YOU LOOK AT THE CPI UNDER BIDEN THE LAST, WHATEVER, 18 OR 19 MONTHS, GROCERY PRICES ARE UP, I DON'T KNOW, I THINK 15 OR 16% OR 17%. SO THE POINT IS, ALL OF THIS GREEN NEW DEAL RADICAL STUFF WHICH WOULD NOT JUST ALLOW RENEWABLES TO GROW SIDE-BY-SIDE WITH FOSSILS, THEY WANT TO END FOSSILS. YOU CAN'T DO THAT. EVERYDAY LIFE IS TOO DEPENDENT ON FOSSILS. IT WOULD TAKE 100 YEARS OR WOULD TAKE 200 YEARS. I MEAN, I'M NOT EXAGGERATING. SO IT DOESN'T MAKE ANY SEFNLS IT'S DAMAGING TO THE ECONOMY. IT'S JACKED UP THE INFLATION RATE. IT'S DAMAGED FAMILY BUDGETS ENORMOUSLY. IT'S CAUSED WAGES -- PEOPLE ARE WORKING HARD, DOING THE BEST THEY CAN. THEY'RE INCREASING THEIR WAGES BUT THE INFLATION IS FASTER THAN THE WAGES. NOW, THAT'S NOT ALL ABOUT FOSSILS BUT IT'S A LOT ABOUT FOSSILS. SO THE BIDENS NEED TO BACK OFF. IT'S A BIG ISSUE. IN A WEEK'S TIME FOR THE ELECTIONS, IT'S A VERY BIG ISSUE AND I THINK YOU'RE GOING TO SEE THE REPUBLICANS RIGHT OUT OF THE CHUTE TRY TO TAKE THE HANDCUFFS OFF OF FOSSIL FUELS TO MAKE THIS A BETTER COUNTRY, TO CUT INFLATION, INCREASE GROWTH. >> YOU GO TO WAR WITH THE CORE OF OUR ECONOMY AND YOU REAP WHAT YOU SOW AND UNFORTUNATELY AVERAGE PEOPLE ARE DEALING WITH IT. LARRY KUDLOW AS ALWAYS, THANKS FOR BREAKING
