On Friday, CNBC’s Rick Santelli on the show “Squawk Box” that the world economy is “doomed” if leaders abandon fossil fuels.
The Daily Caller reports:
Santelli warned about inflation and consumers feeling the effects throughout the near future.
“If you’re looking at inflation, I think one of the guests said they think it’s probably going to remain sticky. I think it’s the rate of change, and the American public is not stupid, meaning, it’s going to certainly quit going up as fast as it is, but prices are not —and I underscore — are not going back to where they were,” he said. “You need months and months and months of minus signs on year-over-year, months over months on CPI and PPI. Don’t think you’re going to get months and months of those, and on the other data with regard to this jobs report, I would say that the rest of the world’s in much worse shape than us.”
“I think it’s really funny when I see the Eurozone debating about what to do with oil and gas, and Putin’s somewhere watching it. It just seems really weird, he’s holding the switch. He can do it anytime he wants,” Santelli added. “And I still say, if there’s one word about what the future of the world’s economy looks like down the road, and people aren’t going to like this, it’s about the cost of energy. If people want to keep energy prices high and the governments want to have secret meetings about really not being all that enamored with fossil fuels at this point in history, then we’re all doomed to slower economies down the road, period.”
President Joe Biden has reversed several Trump-era energy policies since taking office, with former Interior Secretary David Bernhardt recently saying the move has hurt Americans amid the Ukraine crisis.
He’s right, the world is not prepared to eliminate fossil fuels. Other forms of energy have just not been developed enough to replace them. Anybody seen any ” electric ” airplanes yet? Just about everything that moves the world’s economies rely on fossil fuels.
Moral of “the story”? Never attempt to change horses in the middle of the stream!!!!
True moral of the story-never vote for a liberal at all, for any reason at all, under any circumstances at all. And if you do then keep your mouth shut about the consequences.
Gee Rick welcome to the party that started 3 months ago.
Biden is a goof -his whole administration is useless – rejects at best – they certainly know nothing about money -but I can say that about the DC Gang -including the Rinos included
I agree. They’re more concerned about checking boxes than helping the American people.
Helping themselves only! The American People has never been thought or cared about by this administration!!!!
If the Biden administration did not think of what is in the best interests of the American People, he would never have pushed Covid vaccinations/boosting and required masking so hard. Sure, Republicans called this concern for our public health “government overreach”, but many of them are dead now or have long-Covid sequela because they didn’t listen to him and care about the health of their fellow Americans.
Even you don’t believe what you’re saying! Dr. FlipFlop lied about EVERYTHING.
One has to acknowledge, though, that our economy would be far worse and inflation higher if we had had a Republican in office simply because they would have discouraged Covid vaccination and masking, as we have seen. So, millions more would have been sick and hundreds of thousands more would be dead beyond what we saw during Biden’s administration due to his strong vaccination and masking push. In fact, under Republicans, we wouldn’t have even begun our recovery or return of supplies to meet our demands.
Walt… WHAT world do you LIVE in?You are so PATHETIC!
wait should look up how many deaths under trump and biden!he might be surprised to see who has the most!
Please get psychiatric care immediately before you get any more delusional than you already are!
Biden’s actions will doom economy???? His actions already have!!!!!!!
Does this mean that all of the leftist knuckleheads who are over on AOL and elsewhere…. the ones who can’t get over President Trump….. will go hide under their rocks and we won’t be subjected to their woke progressive democrat babble???????????
But then just like flies….. you know they will be back making our lives miserable.
The majority of world leaders have after being scolded by a teenager simply exchanged each other’s Kool ADE. Yet in Brussels the late’ set turn a blind eye to China, India & Russia increasing levels of emissions all the while criticising Australia a country that has reduced emissions & is well ahead of the Paris agreement. The same cannot be said about many Euro nations. Rick is spot on & the path to reduce inflation can only be very slow & painful. Wages sadly will lag, the middle & lower class will hurt the most. Too many politicians have become subjects of appeasement to minorities who protest the loudest. In standing for nothing the voters here in OZ have become marginalised & disenchanted.