Politics

Biden Has Made An ‘Enormous Mistake,’ Handed Putin Financial Power: Larry Kudlow

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During an interview on “Fox & Friends Weekend” Sunday, FOX Business host Larry Kudlow weighed in on the Russian invasion in Ukraine, asserting that President Biden has made an “enormous mistake” by making the United States energy-dependent.

WATCH:

John McCain put it very well, it was one of his finest moments, he was a friend of mine. He said Russia’s an old gas station masquerading as a country. All they do is oil and gas. That’s it. They have some raw materials, too, so the way to get at them is to open the spigots wide.

OK, drill, drill, drill. Pipeline, pipeline, pipeline. Get the world oil price down. This is where Biden has made an enormous mistake and has handed Putin, you know, on a silver platter, a lot of financial power. I’ll give you a little bit of history real fast. When oil prices got to $150 a barrel in 2008, Putin took Georgia OK, then oil prices simmer down.

Then oil prices in 2014 got back to $100 a barrel. Putin took Crimea. Then, with the fracking revolution, which started under Obama, even though he opposed it and then continued under Trump with energy independence.

Oil prices were low, you know, 25, 40, 45, maybe $50. You never heard from Putin. The past year, oil prices have jumped from $50 to $100. Putin made about 85 billion in profits from that, and he’s using that money to finance his war on U… (Read more)

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