Rick Santelli, editor of CNBC accurately destroyed the Biden administration’s anti-fossil fuel policies that have helped fuel inflation, on Friday morning on CNBC’s “Squawk Box.”
Santelli asked, “What was the forward guidance with this administration on energy? We know the answer. Maybe they can’t get things to happen faster, but by giving positive forward guidance, by not closing pipelines, by not talking pre-election about how much they don’t like fossil fuel, maybe things would have turned out a bit different.”
As we all recall, the Biden administration revoked the permit for the Keystone XL pipeline in January 2021 and canceled plans for offshore lease sales in May. Many experts have argued that the Biden administration’s disincentivizing of oil and gas production caused the higher prices.
You can watch Santelli’s report in the video below:
“I will say that out of all of the above, energy, energy, energy,” Santelli said about the cause of inflation as the Bureau of Labor Statistics reported Friday that the Consumer Price Index hit 8.6%, its highest level since 1981. Gas prices surged above $5 a gallon on Thursday, according to GasBuddy.
President Joe Biden suggest the higher gas prices were a way to reduce independence on fossil fuels in May, calling it “an incredible transition that is taking place” and that “we’ll be stronger, and the world will be stronger” when it is over.
Who does he think he’s fooling?
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