The Biden administration is "absolutely crazy" to be relying on Russian and Iranian oil, while they working on a new Iranian nuclear deal, according to former Trump White House economic adviser Larry Kudlow.
"Consumers and businesses are going to get creamed by these higher gasoline prices," Kudlow told Sunday's "The Cats Roundtable" on WABC 770 AM-N.Y. "It's nuttier than a three-dollar bill.
"To reward Russia and Putin with an Iranian deal right now is absolutely insanity."
This is coming as President Joe Biden refuses to restore U.S. energy independence, while buying oil from Russia and Iran and "they're talking about $11 billion for four hostages," Kudlow lamented to John Catsimatidis.
"[Terrorism], that's where the money is going to go," Kudlow warned. "Iran's the biggest sponsor of terrorism in the Middle East, for sure, maybe around the world, for all I know. It is a Marxist, military-run [state]. It is not a mullah-run theocracy. It's run by the military, by the revolutionary guard. Trump was right to pull the plug on that deal in 2018.
"The latest report from the UN is that they're even closer to nuclear weapons. And, of course, they lie, cheat and steal. They won't let the inspectors inspect
"The Biden administration is just nutty to go through with this."
But, regrettably, Kudlow added, the Biden administration's "oil policy, their foreign policy, their security policy — none of this makes any sense."
"Why are we still waging war against American fossil fuels?" Kudlow said. "We could be producing up to 13 1/2, 14 billion barrels a day. That would go a long way toward cutting back oil prices."
Sure, renewable energy is the future, but it is not yet affordable to be the present, Kudlow concluded.
"Let the markets decide, but they're not doing that," he said. "You've got these crazy left-wing radical greenies – and we're paying the cost for that."
Eric Mack ✉
Eric Mack has been a writer and editor at Newsmax since 2016. He is a 1998 Syracuse University journalism graduate and a New York Press Association award-winning writer.
© 2024 Newsmax. All rights reserved.