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Biden still betting on windmill power as a substitute of US oil

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If Sleepy Joe Biden just didn’t trip over every other word, he may very well be far more effective in his divisiveness.

That was the assessment after our president’s latest tone deaf, erratic, often nasty and definitely embarrassing display of economic ineptitude from a gaggle of Wall Street execs I often lean on to gauge the heart beat of what the financial sector is pondering.

A few of them voted for Biden; none of them may very well be characterised as MAGA-hat wearing Trump supporters. But all were in agreement that Biden’s speech Tuesday on inflation, and the way he plans to fight it, was odd on so many levels — including but not limited to the bumbling presentation.

Just a few of them were even craving for the great old days when The Donald was within the White House. Yeah, they hated Trump’s mean tweets and petty feuds with individuals who crossed him (either real or imagined). But a minimum of he kept things interesting and at bottom his economic policies were fairly competent.

You actually can’t say that about Biden. Essentially the most memorable thing about his speech apart from its halting delivery was that he blamed everyone for raging inflation but his own inflationary policies. Most responsible, in keeping with Biden, is Vladimir Putin and his invasion of the Ukraine, which is adding to inflationary pressures due to the sanctions against Russia, a serious energy manufacturer, is roiling the oil markets.

But those inflationary pressures were apparent long before the war. The White House’s green-energy policies began depressing oil supply and squeezing consumers on the pump just as the brand new administration went on a spending spree that goosed consumer demand for each commodity including food and gasoline.

Recall the words of Larry Summers, the Obama-Clinton economist. Summers, hardly a part of the MAGA crowd, predicted long before the Ukraine conflict that the blow-out spending Biden pushed through a Democratic-controlled Congress would spark ’70s style price increases.

Economic barriers

Such economic illiteracy is horrifying in a president. It’s also frightening that the president’s inflation speech attacked Putin almost as much as his fellow Americans who voted for Trump. He called them “Ultra MAGA” or “MAGA Republicans” as in the event that they’re some strange recent species of animal that pulled the lever for the previous president.

Land-based windmills in Atlantic City N.J. that help power a sewage treatment plant. The Biden administration believes windmill turbines will blow out inflation crippling American wallets.AP Photo/Wayne Parry

He lumped them in with equally abhorrent Sen. Rick Scott of Wisconsin (his words not mine; I do know Scott represents Florida) claiming, falsely, that the GOP wants to lift taxes and permit corporations to have their way by not paying their fair proportion. 

Funny, the last tax increase put in laws that I can recall was Biden’s doomed Construct Back Higher multitrillion-dollar spending fiasco which might have primed our already sky-high inflation rate of 8.3% well into the double digits.

To treatment inflation, Biden’s is planning to go big in so-called clean energy (i.e., windmills, EVs, and solar) that reduce our dependence on foreign oil. OK, but when will windmills and EVs really replace what we depend on now for energy and transportation? Actually not now as Tesla EV creator Elon Musk recently identified.

I can go on and on — Biden even claimed falsely we might have more domestic oil production, thus lower gas prices and fewer inflation, if Big Oil wasn’t sitting on licenses to drill. He disregarded how the feds won’t green-light other permits which are needed.

A general view of $4.00 gas prices at an Exxon gas station in Hawthorne, NJ on May 10, 2022.Team Biden refuses to speculate in American oil production, causing gas prices to skyrocket.Christopher Sadowski

Some people is likely to be fooled by his speech, but again, I couldn’t find any amongst my Wall Street sources. The markets sniffed out all of the president’s absurdity by selling off the Dow nearly every single day since he gave the speech.

Is the president a liar? Perhaps, but he also might really imagine these lies. And that’s terrifying.

Disney whirled 

Florida Gov. Ron DeSantis keeps notching victories over the woke Disney entertainment and theme-park empire — which thought it was a wise idea to oppose a state law stopping children from being indoctrinated about sex in kindergarten.

And aides to the governor says he’s itching for more.

Disney’s opposition to that very sensible law for reasons only essentially the most woke amongst us can fathom prompted the Florida governor and legislature to finish the House of Mouse’s special tax treatment within the state. Lefties cried foul, then a lawsuit was filed by a trio of state residents who argued that someway they were injured because one in every of the world’s biggest corporations had its First Amendment rights violated by not getting corporate welfare. 

Florida Gov. Ron DeSantisFlorida Gov. Ron DeSantis demonstrates tips on how to punish corporations who attempt to interfere with laws.Ellen Schmidt/Las Vegas Review-Journal via AP

Last week the case was laughed out of court, and DeSantis continues to be having fun with taking it to Disney and winning, I’m told. Aides to the Florida governor tell Fox Business’s Eleanor Terrett their polling shows that even 55% of Florida Democrats imagine kids don’t have to be lectured about sex.

“In fact we don’t wish any company to fail but weighing in on these social issues is just not good for business,” a DeSantis aide said.

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