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Steve Forbes: Biden setting stage for 'unnaturally high' oil prices - YouTube
Channel: Fox Business
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so inflation numbers came out this
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morning with moderate increases about
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what was expected but there was one
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figure
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that should worry everyone a big six
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percent jump in overall energy costs for
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the month of february
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and gasoline prices made up 40 percent
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of the increase in overall prices so
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is it just a coincidence that the spike
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in energy prices comes with a new
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administration's reversal of trump's
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america first
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energy plan let's bring in steve forbes
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forbes
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media chairman you know it seems there
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is such a knee-jerk reaction on the part
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of this administration to just overturn
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everything the previous administration
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did even if it was effective steve
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uh that's right you particularly see it
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on fossil fuels they call them
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particularly oil and natural gas we did
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become not only energy independent but
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we had massive production capabilities
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and we could do even more especially
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exporting natural gas to places like
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europe which are still very heavily
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dependent on russia
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and instead they're now moving to
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restrict
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and ban uh the the drilling of oil and
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natural gas on federal lands
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and offshore and put on a lot of
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regulations you've already seen what
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they've done on pipelines
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to make sure even if you get the gas or
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oil you can't transport it which is a
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danger
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and so the alternative energies
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windmills do not run automobiles
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uh solar is very nice but sometimes the
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sun doesn't rise up
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and they use huge amount of resources to
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build those solar fields
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and they are hugely expensive so in
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terms of
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what the administration is doing it is
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setting the stage for unnaturally high
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prices
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and david with all those spending bills
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they have coming we're going to get a
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bout of inflation yeah
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inflation's going to mean well we've
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already seen it before gas prices
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absolutely absolutely but you know you
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mentioned you also mentioned
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the dependency of the europeans on
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russian oil because we won't be able to
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get our natural gas in there
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lng but we may become dependent on the
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russians and
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become dependent again on the oil sheiks
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who as we know
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have treated us very badly in the past
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when we are dependent on them
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well there used to be a joke that god
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gave
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countries a lot of oil and gas but he
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put him in with the most unstable
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unfriendly governments in the world
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and he's that's one reason why it was so
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important where the fracking revolution
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did
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enabled us in a cost-effective way to
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find gas and oil in ways that experts
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that were not possible before
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in a cost effective way huge advance
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technologically
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so uh yes we're going to have a
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geopolitical change
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with governments like wonderful iran
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being in the driver's seat again
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why would we want to go back to that
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yeah and by the way uh
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one thing that we may see again in in
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terms of of
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repeats of what's happened before when
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we've done this not only five dollar
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gas but also blackouts i mean this new
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infrastructure plan that they're going
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to be laying out we've only seen little
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tidbits of it but it's clear they're
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going to focus on their green energy
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plans
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they want to completely rejigger our
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electrical grids and as you mentioned
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if you try to do that with renewables
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with solar and windmills
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you're in big trouble we're we're going
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to see a repeat of what happened in
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texas
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all over the country right and then
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california and another thing david
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that's coming along is with this
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infrastructure bill is they're going to
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want a big increase in the gasoline tax
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uh so that's going to unnaturally raise
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the price of fuel
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watch out well people are just getting
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started it just shows you that
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there's more to these executive orders
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on pipelines and
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and uh stopping drilling uh than the
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green energy they've got a bigger
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agenda than that and we put together
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just a little montage of
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president biden and vice president
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harris talking about this roll tape
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we have an incredible opportunity to not
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just dig out of this crisis but to
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fundamentally transform the country
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you ushered in a new day
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for america to change georgia
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to change america again a fundamental
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change in america what do you think
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steve
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well it's going to be fundamentally
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going backwards you know windmills uh
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kill birds but they also are 15th
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century technology or
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16th century 500 years old hello
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fracking
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is a modern technology and so why would
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we want to go back to stuff that doesn't
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work
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and so well we're just gratuitously
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hurting ourselves
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and the change yeah going backwards
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that's a change but not the kind we
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really want
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steve forbes good to see you steve thank
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you very much for coming in appreciate
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it thank you david
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