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This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
California, finds itself in another energy shortages. National Democrats seek to follow. California's lead, jennifer lawrence.
About her nightmares about tucker carlsson and the washington post x out bill crystal to explain how to take down republicans. I'm ben shapiro, the bench Barroso
The today show is sponsored by express vpn. Do you like your web history being seen and sold to advertisers? No me neither get express vpn right now express vpn dot com. Slash then we'll get to all the news in
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if by texting, bans. Ninety eight, ninety eight ninety eight right now, while I am refugee from California, I spent
thirty five years of my life in California. Before I move my family over here, too much better sate florida and one.
If we move just because California is dramatically mismanaged nearly every summer in California, there'd be a request from the state to stop watering. Your lawn there'd be a request from the state to ensure that you didn't keep your thermos
at at below seventy eight degrees? And now we have this breaking out in california again and naturally the entire media have decided that the problem is, of course, global warming, because when bad mismanagement happens, the problem is
with global warming and democratic area, always in forever. It's great use blamed the sky. The big problem, of course, that is very, very hot
the problem that I have with this particular explanation is that for a very long time, namely thousands of years in the summer, it gets very, very hard in california, in fact, my entire life, since I was a small child, it got very
in the summer in California. In fact, that was one of the draws to california with summer on the beach in california,
I lived in the valley, I didn't live on the beach and what that means is that, since the time I was, but a barefoot young child
It would be a hundred and twenty degrees in places like burbank, california, north hollywood, California, it be just baking outside
and every single year, the grid would be strain,
every single year there be transformers that blood. I remember there is one summer to living in north. How who is a teenager, where the trend,
somewhere near our home, blew up is on a sabots. We couldn't get in our car in turn on the air conditioner. Would you sat there in one hundred and twelve cricket frying our asses off? Well, this sort of thing is frequent in california, because Kaliko
is wildly mismanaged, if, if it turns out that
Is he predictable whether event that happens every single year at a particular time? You have to start, you know actually planning for it and doing things to ramp up, for example, a power production in your state,
California has dedicated itself to the greens suicide pact whereby yours
post, reduce fossil fuel reliance its most rely significantly less
global green energy- and this is going to fill in the gaps except when it doesn't and ever
but he is supposed to simply suffered through the summer heat in California. I died.
Not understand given the fact that I picked up my fate
my company in why people are saying in this
california, it is, in fact, turning into a house get between the homelessness and the crime, the bad energy.
Management about water, mismanagement, be bad social policy. California, which
The left uses sort of the model for the nation. I'm struggling to understand. Why, and here is the thing:
If the people who have founded major companies in
When I'm talking about the big tech companies have talked to the heads of some big tech companies, so most big tech company,
be taken down by a couple bill in their home market capitalism
the names, the people I have spoken to rights both at those coming. They said that if they had to start there
we all over again today, they certainly would not base it in California. Right now
Innovation in california is, of course, pretty bad. According to fox business, California's grid operator,
when that excessive he'd starting on Wednesday, I would stress the energy grid and potentially lead the black out again totally unpredictable
you'll get very hot during the summer in California has never happened before, except for every year. For tens of thousands of years it said consumer
conservation would likely be necessary over the weekend to avert power outages according to that
grid operators, starting tomorrow through tuesday. California, in the west are expecting extreme heat.
Likely strain the great with increased energy demand, especially over the holiday weaken. It said that in many areas of the west, temperatures are expected to reach triple digits and break records.
In, what's likely to be the most extensive heat wave in the west. So far this year, temperatures in northern california are expected to be ten to twenty degrees warmer than normal through Tuesday september. Six
in southern california, temperatures are respected. We tend to eighteen degrees warmer than normal. Oh, you mean
nothing. I am warmer than normal, like in a given year like last year. Like is it
is it twenty degrees higher than it was last year or is twenty degrees hotter than it was? You know during the winter? Is it
twenty degrees hotter than it was fifty years ago or a hundred years ago. And what are we talking about the california,
independent system operator set it to take measures to bring all available energy resources online and it restricted maidens operations have been issued from whence they threw september sex from noon.
Can be in every single day due to high loads and temperatures across the state run monday, the peak load for electricity was
directed to the highest of year exceeding forty eight thousand megawatt officials. Last californians, not you charge, electric vehicles have conditions or member electric vehicles were supposed to save us all. The problem is electric vehicles.
restrain the bread, in fact, how much electric vehicle strained rhetoric,
in them in the electric grid and they take enormous amount of energy by the way that energy is largely produced by fossil fuels, is the great irony of electric vehicles, you're actually being subsidized by the state to a certain extent, by fossil fuel use in the state regular electric grid is parcel, is powered by fossil fuels. You then plug your car into the fossil fuel powered electric grid, and then you have to pay for oil.
So there's that, in fact, if all of the public transport in places like california word, move electric grid
Will blood the grid is a serious problem? It's why their tech companies
place like Israel that are trying to figure out how to recharge electric vehicle,
as they run down the road and actually train
how to use the energy from friction with the road to actually
We charged the cars as they move for something like that, because the electric grid people forget that when you plug the car into the wall that that actually is
or by the same grade that is powering. Everything else is message:
after california, regulators moved last week to require all new vehicles in the state's run on electricity by two thousand thirty. Five, so will have strained electric grid and so you're gonna have to,
of your commission. Also, there are now trying to
can devise every single person in the state of california to move towards electric vehicle which will break the electorate grid, but we need to build more electric grid needed there needs it up. The amount
how are by the electric electric, but they are refusing to use the actual measures that would you you used it to increase the america's all that
in order to be fuel efficient, is going to actually have the carbon? So there is a way to escape this trap. Guys green energy is just not energy efficient, green energy.
just doesn't pay for itself. Green energy is extremely expensive. It is
not as reliable, wind and solar are not nearly as reliable as things like coal as nuclear as natural gas as oil by all of the carbon based fossil fuel
are the things that your store lying on in order.
The green move, your supposed grandma, which means that the green view
those are actually masking the underlying problem. Again, as always
and by the california resources board, came two years after gothenburg avenue some first directed regulators to consider such a policy. If the goal is reach, california,
missions from cars and happy twenty forty. Yet what they're? Not explaining having the power all those cars without increasing the emissions
that are necessary in order power that grid
grid conditions deteriorate. The eye is so may issue a series of emergency notifications to prepare the public for possible energy shortages. In fact, there are already energy shortages last night in the elevator as well
oh alto so glad to see all the tech companies feeling it first.
Many, the california independent system operator is basically acknowledging. They just don't have the power to do this elliot means, or the ceo of I associate in a video coat. I know this has been a very long. He wave and we're not ask
You did you even more, but please stick with us
don't use any more power than is absolutely necessary, laid on tuesday
afternoon, solar power supply about a fifth of the states power demand, whereas the other forfeits coming from. Would that be then
hosty, terrible source of energy that have been reducing for years on end. If demand for power exhaust the grids,
reserves, the iso associated instruct you till you start imposing rotating outages. The first time state is taken such a measure, since he blew,
He waved in august twenty twenty well, let me
it's a really long time. I know it's not as like two years ago that
that time two years ago, that you blew it and now doing it
by the way. The reason that this didn't happen during two thousand and twenty one is because again in the middle of the coven pandemic, there were just a lot more people who are staying home if it wasn't quite as hot, but even then it strain the power
it it it's amazing. So this is the state that we're supposed to imitate according to the left. California is the is the leader gavin newsom is is trying to propose
as a possible alternative to Joe Biden in twenty twenty,
or should the old man fall down on the stairs or something
gavin. Newsom made an announcement yesterday that it's time for everybody to do their part he'll be over at the french laundry enjoying the food and air conditioning. Everyone has to do their part to help step up for just a few more days. Individuals
They industries business all doing their part to help reduce strain on the grid may hear specific
do what you can do in the early morning hours, particularly tomorrow and the next day, or so pretty cool your home run your air conditioning
Earlier in the day when more power is available and we could
close your windows and blind to keep your home cool as well and today and tomorrow,
afternoon after four p m in particular, four p m. Please turn your thermos.
Up to seventy eight degrees are higher and avoid the extent
possible using any really large appliances rate. Stop you
you're microwave in no washroom drier. Like a p m- and you know you know it's a great
lifestyle, California, we were freedom, happened according to governance and we couldn't entire commercial that he ran in florida, but how freedom is happening in California? I notice
it isn't, which is vital,
is there any more. He also tweeted out, California were now any flex alert. What does that mean? We need to
serve as much energy as possible during this record. Breaking heatwave has never been hot california before here's. What to do until nine p m
it said thermostats to seventy eight turn of unnecessary lights, avoid using large appliances, turnoff unnecessary light, so set in the dark in the heat and enjoy
freedom. California represented Eric swallow who are apparently did not treat this from the bed of chinese bite.
it would accord it's time to rally california. We all need to do our part.
How help power it help help avoid power outages this week before four p m pre cool your home asked by the way, if everybody does that there can have a flexible at four p m.
If nobody blast and our commissioner as hard as they can review, reflects solar f
scorpion avoid use of major appliances, turn your thermostat to seventy eight or higher seventy eight or higher. My goodness. Ok, that sounds terrible. You know what I kept. My thermostat out here in florida last night sixty eight degrees. It was awesome. Let's keep the lights on. California says Gavin newsom says I er
Well, let's keep the wine. I loved it. The community area, an aspect of this by what you'll pay for it, you'll pay for it through taxes, do not upgrade the grid
brian to pass. The energy environment reporter over the washington examiner has an excellent piece talking about why California's grid is at the risk of black out. She talks about the fact that, of course, demand is high. Demand is high, particularly between four p m.
Nine pm solar power generation decreases. That would be the reason why they are saying from forty nine pm. You should start to ramp down your energy usage rent. The reason it is not actually because it's more hot for nine can actually this when it cools down. The answer is what
and therefore pm thousand starts to set, and these are
Energy stops going online. Why it's alright,
does no solar energy is not all that efficient for human use to us,
then a balanced grid operators can call for consumers to conserve electricity voluntarily via that flex alert programme.
severe importance. Dna professor university Calphurnia, burglaries, berkeley's school of business escort I'm not a believer. We should be doing this through voluntary pleading things
the prices and that actually lowers the price most of the time and then raises the price when this system is tight yet again to pricing price,
are bad guys prophet evil prophet sunset, or is that just request a they had this with water usage? When I was in California,
it would actually allow the pricing system to take care of the problem, because the rich people would continue to water. Their lawns and people who are not as rich would not continue to water their lawns. Instead,
what redistribute the misery equally. Supply has been room
ugly constrained in California according to them
from can examiner historic drought conditions and record low reservoir levels, have reduced the state's ability to generate hydro power by forty eight percent by the way, if no new dams they build known reservoirs at something the jerry brown should been doing twenty years
when he didn't do any of the stuff
state hydroelectric power fell. Last year, just seven percent of california's utility scale met generation. According to data from the us energy information administration down from nearly twenty one percent,
two thousand seventeen, that's not only the effect of heat and drought on the supply of energy.
they also exacerbate the risk of wildfires
When you narrowly aboard the black at last summer after the bootleg wildfire on the california, organ borg, damaged, intrastate transmission lines and temporarily halted some electricity imports, speaking of which interstate
imports are key for california, because California, despite being the most
real estate in the union, with the most natural resources has got twenty five percent of its electricity from other western states.
liability of the imports has gone down in recent years because stage of phasing out coal fired power plants in the last ray. All these surrounding states have in moving
green calvin
import energy from arizona
That's gonna that organ in washington, but those states are grappling with the same heat and real conditions is california, and they also took many of their own fossil fuel power plants offline since twenty thirteen states retired more than ten gigawatts of fossil fuel, generating capacity leaving them with little excess resources to sell to california operators. Note here
today for those five states are also expecting to be hit by the heatwave. California,
It's a huge amount of renewable energy through wind and solar power and produces more solar power than it can use during the middle of the day. The problem is that the batteries don't work. The challenge is when, in the evening, solar
declines, but people are still running those eat,
in the annual summer liability assessment, according to the washington examiner, the north american electric reliability corporation, but the entire west, an elevator
for reserve shortages with regulators warring state could face of power shored up to seventeen hundred megawatts on the hottest days. In addition,
writers, warned of possible disturbances to the states. Solar photo voltaire
Igor pv system, which converts solar
Electricity disturbances to deck and technology can
to be a reliability, concern
New renewable battery storage projects for one in solar could keep supply on for longer. A california has been unable to match.
some are demand with increased capacity supply chain problem.
delayed many solar projects from advancing. So again, California,
basically cut itself off the news, because it turns out that radical environmentalism in the face of reality does not work. I'm sorry to break it to you, but no matter how
money you pour into sources of energy there, not nearly energy efficient enough. It is not going to make up for these gaps. It just isn't.
People are gonna, pay the price of real people, taxpayers, while right now
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has been backing away from nuclear power as well. It close the san onofre nuclear generating system in two thousand and twelve. I remember when they did that in two thousand and sixteen a study published in the,
American economic journal found that in the twelve month period after that, so called facility was shuttered.
The power generate was largely placed by natural gas, include increasing emissions bribing up costs for consumers buying,
made three hundred fifty million dollars that you're alone and twelve month period following the closure of that nuclear generating station.
Researchers found carbon emissions also rose by nine million metric tonnes, which would mean the echo
and putting an additional two million gas consuming cars on the road. To now, the state is trying to change course and similar that europe is their extending the life of the apple canyon, nuclear power.
and that is the last remaining nuclear facility in the state again. This is what
decided to do. California has decided to basically bet the
standards of its citizens on futile green policies that are now
in the end going to lower emissions? They are actually in some ways going to increase emissions, because you're going to have to increase the capacity of the grid you're going to have to rely on things like natural gas, replace those nuclear power plants
I'm again, science does not lie. You know it's always lifting followed, so I have followed the science
when it comes to the science of energy efficiency, carbon based fossil fuel
are significantly more efficient, any other forms of energy that are being produced in Seoul
the greens, hack revolution, simple vat and you're not going to overcome.
Simply by yelling at people about it that doesn't solve the problem. Michael shellenberger, who recently attempted to
on four, a governor in state of california. He pointed out that this was,
one back in august of twenty twenty. He talked about the the rolling black
it happened in the state that year. He says that this again,
because of california raising electricity prices because of its huge expansionism roubles. He points out, even though
of solar panels, declined dramatically between two thousand eleven in two thousand and ten there, and
I will and whether depend nature meant they impose large new costs in the form of storage and transmission, to keep electricity as reliable telephone.
Solar panels in farms were all turning off as the blackouts began, with no help available from the states to the east, already nightfall
from solar goes away at the very moment when the demand for electricity rises, the peak demand
was steady and late hours at the spokesperson for the eyes. So are we
Thousands of megawatts of solar, reducing their output as as the sunset
again take all of your energy offline and then be shocked when you have no energy. This is the pattern and again understand that, for
she'll Democrats, california model of what they wish to do environmentally red Joe Biden out their tasks
Inflation reduction act, which is not going to reduce inflation, and he said that is gonna fix
Why not going to save the world? No you're, not
you're just going to do a bunch of incredibly expensive stupid things, never gonna end up relying on the old forms of fossil fuels. So long as the technology
into bans, that's exam.
What's happening in europe. But that's not going to stop them from continuing to promote this nonsense. Literally yesterday,
after granholm said that she supports the california gas vehicle ban by two thousand and thirty five, the national headlines, by becoming the first state to say by twenty thirty five we're not going to have any gas powered vehicles that are.
That are being sold, still drive your old ones, but you can't sell new ones. You like this concept here I do. I think you pack health, when you really is leaning in and, of course, the federal government has a goal of the present, as announced by twenty thirty, that half of the vehicles in the? U s and new ones-
old would be electric well, meaning that their leaning in guys mean they're very lenient, off
that they're falling over and smashing themselves in the face on the on the pavement, but they are definitely leaning in and we should listen to jennifer granholm, our energy secretary, who knows nothing about energy, because after all, Jennifer granholm is wearing smart people glasses, that's
Maybe you can tell whether somebody really knows about energy policies. They were smart people glasses
They fly around and private jets, like John Kerry and speak sonorously into
at our malaria larbert most brutal luggage war.
Jennifer grandma, and by the way also said we have to double the size.
our energy grid using green energy, slow clap. For this idiocy, the grid is going to be ready for all the grids. Gotta be ready. We have to basically double the size of the nation's electric grid, with clean energy
jenny proposals, for how did you that way, cause I'm
seeing any actual measures that you're proposing other than
spending, exorbitant amounts of money on really really inefficient, stuff people agenda for grand whom they really have your best
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which is you can just lucky blocking down for the climate beyond lombard,
has written extensively has been on the programme during extensively about the invite
angeles emission timetables he points out,
Also, the environment was radically G.
Greece. The availability of actual energy to people here
wall street journal back in september well
from the news to late- and I chose much of the media- makes it sound as if renewables are on the verge of taking over, but that's far from reality in twenty nineteen. The latest complete
of data. Eighty one percent of the world's energy supply came from fossil fuels according to the international energy agency, even if all nations were to fulfil their current climate promises
the EU s maid fossil fuels?
would still make up seventy three percent, I twenty forty. How can this be?
one headlines constantly trumpet the future of solar and wind partly? Is that renewables produce mostly
city, because only nineteen percent of all the energy the world consumes? The rest is used for things like eating transportation and the product
Goods like seal and fertilizer, even if all interests at each other
in most of the world still run on fossil fuels and
electricity isn't green. Almost there
still generated by fossil fuels with nuclear and hydro supplying another quarter.
The solar and wind favoured by environmentalists generate eight percent renewables.
Often touted is the cheapest energy source. That's only true when the sun is shining in the wind is blowing, it would still. Might you need backup power tip
from fossil fuels, which makes electricity costlier, because you now needed
for about the solar panel and the gas turbines. European union
seventeen percent of electricity from solar and wind also has some of the highest consumer. Electricity cos.
As a fuel use has borne lombard. The greenest content is africa, because nearly half of its energy comes from
apples, mostly, would dung in cardboard burn for cooking and heating, which killed
that seven hundred thousand people every year in sub saharan africa with indoor air pollution or then
A billion africans lack access to electricity. Economic development can
and out of this unenviable position, but it also means africans will use significantly more fossil fuels and they do today to give a sense,
how could grow? California use more electricity on its pools and hot jobs than all forty four million inhabitants of uganda consume total cutting fossils
as quickly as some environmental as well, will be tremendously difficult in twenty two.
dependent, lockdown forced the world to cut carbon emission significantly, but to fulfill the paris climate accords completely.
Once as global emissions would have to plunge even further every year for the rest of the decade, by the end of twenty three
it has fallen by eleven times what they didn't. Twenty, twenty, not exactly realistic sorts, unrealistic, it's a waste of money. It makes people
miserable and by the way it has international consequences, because you may have noticed that the sum of america's opponents
some geopolitical powers that dont care about things like carbon emissions
there's somebody using energy as a weapon which, by the way oil has been a weapon. Since people discovered how to use oil for energy,
sit literally since we began dredging up oil from the ground and using it in vehicles. Using its power in dust
they need development of industry. Since that began. Well,
many serious geopolitical issues why people cared about the middle EAST. It's the reason, probably why japan ended up attacking the united states, be at pearl harbor because there are being deprived
on the oil supplies they needed nor devour their war machine for american block. I hate that
Oil has always been. An issue is one of the
reasons why hitler moved into the
soviet union, he needed fuel oil, as always energy use is always an issue so
you voluntarily destroy your own energy efficiency.
because you have some sort of idea:
Fighting the sun death can have some real consequences,
This is why the way russia has decided to cut off Nord stream, the Nord stream pipeline
did they are cutting it off in the middle of a war with ukraine, because their attempting to freeze europe out basically error now reversing their strategy in in the war of eighteen, twelve napoleon
Basically, what they are doing is their say: okay. Well, if, if you will not come to russia,
winter weeping rushing winter to you
you're not going to invade russia and then get caught up. You know like napoleon or like hitler in the middle of the russian steps, and then frozen would freeze you,
we will deprive you of energy in your own homes and
is cutting off Nord stream at the beginning of winter. Everyone knew this coming. We ve known as coming four months she met.
Hey, maybe maybe they should get ready by. You know going back to some fossil fuel use in a time of emergency and they've tried, but it's a little bit too late, and so here is the shocked. Korea, jean piercing.
Russia is weapon. Icing energy, really you mean you mean wait hold up
using energy can be used as a weapon. Is that what you're saying? Are you saying that, like I dunno six months after we decided to em freezing
out russia from the oil markets? You mean
Russia can do the same thing to us. No shocking to you ve, to say this that what what we see russia's doing within very clear about this.
that they're using energy, their weapon, rising energy and its choosing to to one of the things that has been out there, the shut down.
line of nor charm wine? Well, you know
using energy as leverage who could have foreseen
such a thing for everyone,
in human being, since the beginning of this war. I mean the shocking and
Unsurprisingly, it is working
saying for weeks on this programme, it was very clear that ukraine has make a military push before the winter, because the winter was the end of the war
Europeans are gonna, start pushing ukraine to start making tariff
ro concessions to end this thing, because you know what starts to hit home a lot in europe
when you're citizens are freezing to definite apartments, it turns out that cold.
a lot more people every year, the need a lot more people? I know this runs counter.
The prevailing wisdom, which the global warming is the chief threat cold. When it comes to europe,
salespeople is the chief reggie human beings, not heat.
Near the head of the EU yesterday has renounced their reducing energy. Is that basically, going to flex energies the same ways? California, you can blame vladimir putin for that or you can blame the fact that this entire continent decided to follow the advice of an idiot swedish teenager
For no reason other than she she's very upset and outraged greater she's disappointed in you, and there are like, oh, my god,
the fifteen year old swedish, to screaming at us. Let's make ourselves
completely reliant on russian oil and then you have to cut your energy use geniuses over there. What is expensive, because in these peak demands the expensive gas comes into the market. So what we have to do is flattened the curve and avoid the peak demands. We will propose a mandatory target for reducing electricity used at peak hours and we will work very closely.
The member states to achieve this guys were back to work back to flattening curves. Isn't that exciting? Remember that time, when we are going to flatten the curve by staying in our homes and wrecking our businesses and destroying the world economy, that was great
then what with energy chancing
idea. Meanwhile, in Britain,
One of the solutions that is now being proposed in britain is
is actually too. I guess, pay
for ordinary subsidies to people for their energy. So then,
engaging in an energy bail out according to Alex wickham airport bloomberg.
The top one hundred thirty billion pounds to freeze household energy bills, those trusses normally another forty billion pounds for small business
It was the annual national health service budget. It is more than five,
percent of gdp?
What happens when you make yourself reliant on sources of power that are not efficient? I can't say enough
Reality does not care about your energy efficient priorities when your green, it does not care, and so more
western nations are like yeah. You know what fine we're going while from russia, they don't care in a global, a separate sending over here india road,
a developing and growing nation. In his eye.
You can notice all you want, but you know we're not going to do we're not going to make our citizens unable to to run whatever air conditioners they have here in india
petroleum minister, our deep sympathy sang yet willing to to continue an oil from russia. Why wouldn't we? Yes,
Five, russia, we live and whatever democratically elected go
If and you don't have a moral conflict with the russian, we is a real conflict. I have a modern,
why consumer you
I do wonder why, as a democratically elected government, one is it
wishing where the picture abundant runs dry
happening in countries that they did invaded democratic area loaded
I not getting it about debate yeah! It's a question of energy by the
those wonderful that ideological punitive action, this dubai
I mean he's right about this by the way the country
are still buying, but through through secondary parties, thereby
second hand: russian oil, I mean remember when russia turns off the pipeline. What does that's just it's just that?
until five seconds ago. The europeans were continued by russia to authorise it would have been running the pipeline like did these sort of. What this demonstrates is that unless the west is willing to
We treat geopolitics as a serious business, rather
and committing suicide with regard to poor reach,
This is like energy or, for example, semiconductors in taiwan, unless they are willing to ramp up their own power
It turns out that competitive nations are no look elsewhere. If you're india and
the west has nothing to offer you in terms of energy supply, of course, you're going to turn to russia. Why? Wouldn't you? You still have a billion citizens like what? What do you expect india to do
just stupid. It's stupid time in the west
It's a serious time. We have unserious leadership, clark consumed with what
determined as the world's most serious problem, namely the gradual escalation of temperature over the course of the next hundred years over a hundred years and the effect on him,
in which it turns out is really good at adapting the problems. So did you
yeah, but we're just going to handle power over russia and then we're going to yell at india. The india decides that is going to buy oil from russia to take care of its citizens. Today that the these geniuses, I will give a shout out here,
to my friend, the vague promise swami, who has been trying to urge all these oil companies to stop falling for the soft
fascism of the government working in concert with E s key priorities. So basically the government left wing government work in concert with groups like black rock and larry think over blackrock to push oil companies to produce less energy and get it
to you commit to environmental, social governance and when they do that, what they are doing is
simply telling energy companies to stop producing energy so vague as set because blackrock owns a big chunk of a lot of these energy companies. The vegs proposal was well what, if a bunch of us, buy big chunks of these
fishing companies also and then we tell them to stop listening to black rock.
which is an excellent solution. The piece of work
wall street journal talking about what they did yesterday, he said
Letter to chauvelin ceo mike worth in the company's board he said quote, I wanted liberate you from the can
french imposed on chaperone bites. Yes, she promoting quote shareholders. He writes,
for to engaging with the company before next year's proxy voting session.
The chevron effort is responsible, asters proxy victory by hedge fund engine number, one at rival, exxon, mobile, core, it forced exxon to accelerate.
energy transition efforts strives letter. That's new eggs company calls for energy producers to die
their the strategy of limiting investments in return cash to shareholders. It's one of the first formal calls from oil giant to do so. So
again, I am a big fan of the strategy and I think that many of us should invest in things like strive in order to drive up ownership in important aspects of the economy.
It even goes well. Companies are eager to get into the inefficient business of solar, for example, your off your honour, their doing it because govern
Pressure urging the government has basically sat we're going to cut all these companies offer the knees by depriving
of their investments, the regulatory power and so their knees.
We can push back here or the west is going to fall by way of its own hand, speaking of which Joe Biden continues to tell the future of the economy less than just a second left believes they are winning the culture war. This is wish casting did where plus
continues to grow. Thanks to people like you and the more people who join daily, wear plus the louder we get. That is what is scaring them because of documentaries like Matt Walsh's. What is woman with gain more?
worse than at any other time in our history. Our goal is to provide you in alternative, because the woke left is on.
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Help us keep the momentum by watching and sharing the film what is a woman, dot com and most important documentary of the last five years? That's, what is a woman dot com today go check it out. What does a woman dot com can be
as Joe Biden continues to run, the country into the ground is optimistic about the future of the country, but maybe that's because he's
verging on senility harry was yesterday. He is, he is in
firing figure? He really is
believe were one of the racist future
tells matter execution matters- and I look for everyone here today- give me an update on your departments-
and am incredibly optimistic about the future were building here in this country
It requires solid work, making these
Laws were devils
the details, my inspiring
they're from our babbling leader, he also says
more than about to spend taxpayers money wisely if by spend taxpayers money wise
He means he's going to load trillions of dollars into a wheat flour and then just sort of blow it out wherever he sees humans. My vote for him, I suppose. That's
Spending the money wisely redefinition, I'll get mad here we go I've ass these
relevant cabinet agency to come forward today with a plan to help get the american
for our economy.
Size as fast as possible in despair
taxpayers money wisely. I might add
all these legislations. We, madam vice president and we've, still reduce the deficit substantially.
Have not reduce the deficit cases.
Biggest lie in american politics again, if I've spent
Ten thousand dollars over my credit limit last month, and then I been four thousand dollars over my credit limit this month. That's not me reducing the deficit as meanwhile, the wildly irresponsible. He spent more money
any president in american history bar none. Two weeks ago, he announced the largest executive action in his.
We of the country, five hundred billion
dollars minimum to uncover
It's usually quote relieve student loans, that he's meant,
when two trillion dollars on inflation reduction act, which is an oxymoron, can't, spend money on inflation reduction, as I feel that works, I'm an amber, spend more money to reduce the price of this good genius,
and then calls it. The climate change.
When two trillion dollars in the middle of an economic recovery to fight covered or some such american rescue plan, even a trillion plus dollars
infrastructure, that's aside from the four trillion dollar budget every year,
spending more money than god or man has ever seen, and then he's telling you he's fiscally responsible.
the inflation is not his fault.
He's doing a great job dies? You really is what you know
This increases the stock market, which continues to have an awful quarter. According to the wall street journal, you a stock indices, fell on tuesday, driven by expectations for tighter federal reserve.
Policy and an energy crisis in europe by the way. This is the pattern of governance, usual, really crap job and then somebody s to come and intrepid bandit
so the federal reserve that are really really bad job in terms of ramping up the inflation during twenty twenty and continuing to buy up trillions.
hours and assets, injecting money
you in already overheated economy and twenty twenty one, but what's really
exacerbated. The problem is horrible legislative policy from the Biden, administration and executive policy in twenty twenty one, twenty twenty two
and that means now they're begging the federal reserve to come in and fix the problem. It's the same thing with the energy and supply issues like wow. You know that it turns out that the energy supply issues
It's a stomach problem generated by our bad policy. What if it could have a bandaid and abandoned, would be in the form of you, know, subsidies, the better it'll be in the form of buying energy from other states, or maybe we'll keep
a nuclear plant online. A little bit longer bad policy requires you to
Can you slapping band aids on a bad policy, but these are gang
and his wounds are only here
by walking off limbs. At this point, I do not want any
off you just sitting there watching as the rock roads and rooting for it rots good. The right is the recovery. You see there amazing
Yes and p, five hundred declared declined sixteen point or zero point. Four percent to thirty nine o eight were nine. After the long labour day we can
The dow jones industrial slid a hundred seventy three point: zero point: six percent, the tec focused nasa composite lost zero point, seven percent
down for seven it straight trading, is the longest losing streak since november of twenty sixteen within the essen people
Seven out of eleven sectors were in the red on tuesday, with industrial healthcare, real estate and utilities gaining there's this week.
Things going on in the stock market is really really funny actually, and that is the federal reserve.
We'll announce that they are raising interest rates and everyone goes oh, no and they sell and then five minutes they're like well, maybe they'll get control of it and then they buy and then
seconds later. The federal there's like we're raising interest on the stock market. Writing that wave linked to six legs ride,
according to Jerome powell, by the way they are now looking at another zero point, seven five point percentage point increase rather than zero point: five. Zero can go for three quarters of a percentage point increase. Seventy five basis points, but officials have done little to push back against the market expectations for the third consecutive. Seventy five basis, point rate rise in the recent public statements and interviews ahead of their September twentieth, twenty
suppose you meeting in a speech august, twenty sixth, how underscored the central bank's commitment to boosting interest rates enough to lower inflation from forty? Your highs, he says, will keep at it until we are confident the job is done.
again. The any ease missing one was for a while.
mohamed AL arian it over at allianz he's been saying. You know you guys you should have been tapping the brakes a long time ago. Now it's a little bit late, you're gonna have to slam on the brakes when you slam on the brakes. The chances are that the economy is going to crash again globally speaking
in other countries, would you been following the united states lead are about to take a directly on the chin. Goldman Sachs is predicting twenty two point: inflation in places like the uk
apparently officials going to submit their new economic projections at the meeting at their meeting this month, showing how high they expect to lift the fed funds rate. I yours and you are
Had presidential whims said quote their next. Steps need to be guided by where we want to see the interest rates by the end of the year and into next year. If, based on the data is clear, we need to get interest rates
We can be higher by the end of the year obvious that informed decision at any given meeting palaces
the thursday immoderate discussion to cato institute as her his
Schedule public remarks before becoming fed meeting me.
While over in Britain, Liz trust is, is attempting to put that country back on the right track in the fact that are about to launch off into unprecedented
relation like the worst inflation fifteen, maybe a couple hundred years, depending on how.
measure it, because the pounds bats reach parity with the us dollar
she said yesterday in accepting the gig as p m of the uk, that she was determined
delivering she's going to do so by lowering taxes, lauren regulation and, hopefully jacking up energy supply, which of course, is the proper move. Here our country was built by people who get things done. We have huge reserves of talent of energy and determination. I am confident that together we can ride out the storm, we can rebuild our economy and we can become the model
brilliant britain. The time now we can bring. This is our vital nation to ensure open.
unity and prosperity for all people and future generations.
I am determined to deliver. Thank you
I am I'm I'm hopeful that liz tries, maybe maybe she's Margaret thatcher, part two may maybe we get here. Is margaret thatcher proceeding a ronald reagan here in the united states, because that's what the west needs. It needs some actual clear, eyed vision about how,
ramp up its own power in the face of predatory foreign governments.
China and russia. I am amazed at people in the west. We keep saying they want to confront places, job
and says that says that we need to confront brush ingrained me to confront china and then undermines the economic power of united
stage and military power of the united states. At the same time, they are getting confrontational reform powers. It's kind of an amazing thing: are you guys in the rest of the eu
it's continuing now you don't want to miss it, because we are going to be getting into jennifer lawrence. Who apparently has been dreaming about Tucker Carlson. I know it's super weird. If you're, not a member click, the lincoln,
option and join us.
Transcript generated on 2023-02-22.