Posted on 10/10/2022 11:48:37 AM PDT by Red Badger
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 cancelling the Keystone Pipeline was a "mistake" and that slowing oil permits and "being hostile as a country" toward natural gas were errors as well.
What are the details?
During the interview, Summers was asked about the OPEC+ move to slash oil production by 2 million barrels a day in order to control prices — a move that was a blow to President Joe Biden, who made a trip to Saudi Arabia over the summer to implore oil kingpins there to increase production in order to lower gas prices.
Specifically, Summers was asked if the oil production downturn will have "larger macroeconomic effects" and possibly speed us into a global recession.
"There's nothing good in this," Summers replied.
Later he added that "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."
He also said that "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," Summers added. "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.”
VIDEO AT LINK....................
They intended it to happen...............
It wasn’t an error. It was what their Chinese masters ordered them to do.
The Democrat Party motto: “Anything to burt America.”
Larry has a habit of blurting out the truth.
A “mistake”...that was intentionally done to hurt Americans.
Any 2nd grade public school student knows it was a mistake to cancel it.
To the Obozo, George Soros and the NWO ruling elite pukes, that’s all part of their plan for the fundamental change of how America works, or in this case, how it now won’t work
Well, duh.
Most of us knew this on Day 1.
So why is Larry getting the big bucks?
It all depends on what one is trying to accomplish.
It didn’t bother me. If I recall correctly, I was in agreement with what he said. That was quite a while ago though.
The entire climate policy was a creation. I remember that at the beginning when Gore was put in charge....Hillary srepped up and said its purpose was to get young voters involved in politics...and that’s exactly where it started...in the schools...with a Penguin and a bunch of Green Shirts.
of course they were !!!
anyone with half a brain knew that was a major fuckup
I agree that chinese masters dictate much U.S. policy. But I also think the elite is doing this intentionally. It’s impossible not to link oil and the economy/inflation which feed off of each other.
It was an "on purpose" like a mfer like every single post thing they do or utter.
FJB
We already knew this. We knew it two years ago. Where has Larry been, under a rock?
The decisions made went sideways in a greater than planned downwatd trajectory. Democrats however are steadfast in loyalty to party, so they just lie and pretend nothing is problematic. “It’s transitory” - Janet Yellen
Many Biden supporters said that we would need to suffer pain for a decade to achieve any meaningful containment of climate change. And that we SHOULD welcome the pain.
Of course, the cushy government paid bureaucrats and their “intellectual” supporters on grants and for giveable loans wouldn’t feel the pain half as much as the rest of us, both R and D.
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