Bannon’s War Room- Steve Cortes “Joe Biden Declared War on American Energy” March 2, 2022
The Economy: Guest Steve Cortes March 2, 2022 Part 2
Steve Cortes "Joe Biden Declared War on American Energy"
Bannon’s War Room March 2, 2022.
Steve Bannon:
Steve Cortes put that back to all and gasoline to tell us what kind of shape were in sir.
Steve Cortes:
Yeah, and I want to show that chart in a moment, but you make an important point by the way. If I'm correct and we were already headed to recession even before this crisis and it's now hastening because of the weaponization of money. There's a total over reaction of Joe Biden. You're so right, that America is not in a position now, if we're heading into a recession, we don't have the balance sheet. We don't have the firepower that we had in previous crises bubbles, the dot com bubble, the housing crisis, even COVID. We no longer have the balance sheet to react appropriately. It's sort of, like, in the movie, The Godfather where Mo Green says, he doesn't fear the Corleones. He goes, “the Corleones don't have that kind of muscle anymore”. Well, the United States doesn't have that kind of muscle anymore. We can't pull this off, this unprecedented action, this financial dirty bomb that we have dropped upon the Russian people again, not Putin and the oligarchs but upon the Russian people.
But let's show gasoline here. I think this is critical for the audience to see. Important for them to actually see a chart, you know, we like evidence and data here, not just sloganeering at the War Room. These are futures on gasoline. So, these are gasoline prices per gallon but at the wholesale level. So, of course, you pay well more than that at the pump. This is the wholesale level of Gasoline Futures.
On Election Day, November 3rd of 2020, when Joe Biden illegitimately prevailed, gasoline was a dollar twenty-nine a gallon at the wholesale level. It has soared now, as of today, all the way to $3.29 a gallon at the highs today. Up, $2 a gallon $1.29 to $3.29 at the highs today. But here's what I really want to point out and I put this in the roughly in the middle of the chart but toward the right there. That's right before Halloween. That is October of 2021.
Just this last October, gasoline got to almost $2.50 a gallon. Why? Nothing to do with Ukraine. Ukraine wasn't hot at all. It wasn't on the radar, wasn't making and headlines. Gasoline had almost doubled. It was a 93% from election day until Halloween, why? Joe Biden declared war on American Energy on our former energy dominance that we enjoyed under President Trump and on top of that of course he embarked upon an incredible inflationary and exorbitant spending spree. That raised the prices of all assets, gasoline, of course, included. But this gasoline chart is proof positive that you cannot use Ukraine, you cannot use Putin as a boogeyman as a beard to excuse this inflationary spiral that we're unfortunately, enduring in the United States.
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