Kudlow: Biden's woke Washington won't end well
Fox Business' Larry Kudlow says President Biden is killing one of America's greatest industries.
FOX Business host Larry Kudlow said White House press secretary Jen Psaki was wrong to claim that continuing construction on the Keystone XL pipeline wouldn't help the surge in gas prices. On "The Faulkner Focus" Friday, said the Biden administration is "killing" the oil and gas industry and warned it won't end well.
SEN. MARSHALL SAYS BIDEN ‘CREATED’ THE GAS PRICE HIKE DUE TO DEPENDENCE ON RUSSIAN OIL
LARRY KUDLOW: The Federal Energy Regulatory Commission is stopping any new pipelines, any new pipelines. Period, full stop. Now, Psaki says in the press room yesterday or the day before, 'Pipelines don't matter because they don't really produce the oil.' Well, you can't produce what you're not going to ship, so they know they can't do that. That's why pipelines have to be approved. … You've got to have pipelines and oil production. They don't seem to understand that. It's a rather hopeless cause.
The thing is, we could be snapping back all this blaming of Putin. I'd love to blame Putin for everything under the sun, but you can't pin this. You'll see next month's inflation will reflect the Putin rise in oil and gasoline prices. But this thing's been going on all year, past 12, 14 months. Gasoline prices, world oil prices because we're killing one of our greatest industries, for heaven's sakes. And my worry is with 8% inflation, whatever happens, it is not going to end well. Biden's woke Washington, it's not going to end well.
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