Larry Summers, who served as treasury secretary under former President Bill Clinton and as director of the National Economic Council under former President Barack Obama, has admitted that when it comes to the Keystone Pipeline shutdown and the restricting the sale of oil and gas leases was a huge mistake. In fact, he noted that it will be felt all across the country with renewed inflation and possible blackouts, especially in places like California, which is even more radical than the White House under George Soros.
Summers was asked about OPEC and their reduction of oil production by 2 million barrels a day. Biden had pleaded with Saudi Arabia to increase production, so the cut in oil production is a slap in the face to Biden. Like Rodney Dangerfield, Biden gets no respect. Most world leaders see him as the clown that he is. The only reason anyine folloes him is out of morbid curiosity. Like following a drunk driver because you want to see what he runs into.
“We made a mistake by canceling the Keystone pipeline. We made a mistake by slowing down all kinds of permitting activity. We made a mistake by being hostile as a country to natural gas.”
“We made a mistake in the Congress a few weeks ago when we didn’t pass” the program from Democrat U.S. Senator Joe Manchin of West Virginia to expand permitting.”
“We crucially need regulatory relief, or we’re not gonna get renewables online fast, and we’re not going to get the transmission lines that are necessary for renewables to become a large part of our energy fast. So, the real lesson [of] this is we need a different kind of energy strategy than the one that we’ve had. We need a strategy that is balanced rather than an unbalanced strategy of total hostility to fossil fuels, or God knows the kind of total strategy of favoring fossil fuels that we had even egregious favoritism toward Saudi Arabia that we saw during the Trump administration. We need to find a balance. And I think we’re making our way in that direction.”
Do you remember, under President Trump, we became energy independent for the first time? We were exporting oil and gas. We Were the world’s largest producer of oil and gas. Biden handed that mantle back to Russia, which is now using that to threaten much of Europe. Because we are now dependent on oil from dictators and despots, we are weakened as a nation. Biden is without a doubt the worst president, we have ever seen, surpassing Jimmy Carter and Barack Obama by miles.
Even if the Republicans win control of the House and impeach him, nothing good would come of it in the Senate. Either they will block impeachment, which leaves Biden in charge or they could vote to impeach him and remove him, placing Kamala Harris as president. It is a lose/lose situation. However, Kamala harris as president would enhance Republican chances in 2024.
Larry Summers — who served as treasury secretary under former President Bill Clinton and was the director of the National Economic Council under former President Barack Obama — admitted during a Friday interview on Wall Street Week that canceling the Keystone Pipeline was a “mistake” and that slowing oil permits and “being hostile as a country” toward natural gas were errors as well.