Austan Goolsbee, a professor at Chicago's Booth School of Economics and former chairman of the Council of Economic Advisers for the Obama Administration, discusses the effect of self-induced high gas prices, deals with America’s most dangerous enemies in the name of energy and inflation and rates that we haven’t seen in decades. Daniel Turner, an energy expert from Power the Future, penned a letter to Biden about our energy needs and potential solutions. He stops by to discuss his letter.
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Well, come in your city, seeing you a consci well, all beings are high jail and if you want a little banging again, you ain't come along. We don't see that well with the Democratic Party, we see extremists dictating radical positions, and they back up for a second and just say President Biden has done a masterful job in managing this situation. I just want you to know I may be irish, but I'm not stupid. I married Dominic Jiacoppa's daughter. Freedom is back in style. Welcome to the revolution, coming to your city, gonna play against times and saying you a come. New Sean Hannity Show, maryhind the scenes, information on breaking news and more bold inspired solutions for America. This is a special edition of The Sean Hannity Show America Trapped Behind Enemy Lines, Day number two nineteen. Everything is Putin's price hikes. Inflation is Putin's fall. People don't believe that either. They know that we had inflation before this. They know that gas prices were high before this, so they haven't dialed this in quite right yet. You can't blame everything in the economy, all right. Our two Sean Hannity Show Toll Free it's eight hundred nine four one, Shawn. If you want to be a part of the program, we'll get two calls at the bottom of this half hour. So the big lie is that putin price hike Putin caused inflation. The only problem is gas prices were up, way up under Joe Biden and parpagaus everything we've told you. They stopped the the federal land auctions for oil companies, etc. Etc. Then we have debunked at at nauseum than nine thousand leases you already have available. Okay, Then the environmental extremist regulations to put on the oil and gas companies. Then of course closing an moir and even importing oil from Russia, which is insane. At least they stopped that, but they're sending emissaries to negotiate with Venezuela potentially to import oil from Venezuela. We're told this Iranian deal they're working on would allow the Iranians to sell US oil. That would make Aatola's the number one state sponsor of TERA, really rich. Again, that would be pretty stupid and but anyway, but the blame game continues. Forty year high, months and months before Vladimir Putin invaded Russia, same with gas prices dramatically higher. Now they're even going higher further. Okay, that last part. You can give a little bit of credit to Vladimir Putin, but also blame America for not being energy independent, which Joe Biden inherited. Then we've got our neighbors to the north, Little Justin and Canada. They're begging to send us more oil. So why are we begging OPEC, Venezuela and Iran? Doesn't make sense anyway. Here is the administration just blaming anybody and everybody for high gas prices except their own radical policies. I'm tol to bring gas prices down. I will do what needs to be done to reduce the price you paid the pump. Even if we drilled as much as we could, the price of oil is still set globally. This Keystone pipeline, it would take years for that to have an impact on prices. There's an impediment production in the United States. It's called the bankers on Wall Street. Oil prices and gas prices are famously something that is largely outside of the direct control of any political figure. The price of oil is very much dependent upon the global supply and that's manipulated for price by countries that don't always have the same values that we have. Are you just gonna start blaming pot for everything? Food price hikes at the pump, Puden's price sike here at home? All right, we get we get, we get the message here. Austin Gouldsby, professor Chicago's Boot School of Economics, former chairman of the Council of Economic Advisors for Obama and the Obama administration. You know what's interesting, your pal Lawrence Summers has probably been the most accurate in predicting that inflation A was in transitory. That was another lie told by Biden and Saki and Kamala Harris and also is out there and saying this is these interest rate hikes are going to be very real and severe, and saying that the likelihood of recession is very high. Do you agree with Laurence Summers, your fell Democrat Obomba administration official. Well, first of all, Sean, thanks for having me back. No, don't don't start with the nice routine about you. They're gonna wonder about you. I've some I kind of disagreed with Larry Um before the inflation I thought it would prove to be more temporary than it was. So I think he's I think he is right, um, that the rates are probably going to have to go up more than than than what the FIT has has been anticipating. Do you acknowledge the simple truth that before Russia ever came near invading Ukraine, that the price of a gallon of gasoline on average had gone up close to a little below a buck fifty a gallon already? You acknowledge that truth? Correct? Who it was up? What are you dating it too? Because no, no, no, I'm before Vladimir putin truth, Hey, hang on, all right, right before, before he started amassing troops, it was like a buck twenty five more a gallon already. That's the fact. The price of oil was at eighty five dollars of barrel at the beginning of December. That was definitely up from all right, But you're ducking, weaving and dodging the price of oil before Plutin started amassing if that's your timeline, which I disagree with, Oh, we'll use it anyway. But before he started amassing troops and military equipment was up man on average about a buck and a quarter of gallon nationwide to the depth of the of COVID. Yeah, no, compared to Donald Trump's last year in office, in other words, the depths of COVID. Yes, okay, so you at least you're acknowledging that. So whatever price increased. So now, now, when there was a collapse of the economy under Donald Trump and COVID, okay, nice, try that's not going to fly on this program. Now. The premier when he canceled the Keystone XL pipeline and Jensaki saying we can't get it up years, well, the Premiere of Alberta said, we're about eight to ten months away from finishing it. And if we finished it, the Canadians would would be able to import into the US or export into the US nine hundred thousand barrels of oil a day, and we can get Canadian oil. Wouldn't that be better than begging Venezuela and Iran and Opec to increase production or importing oil from enemy countries? Two different things. I was. I thought the Venezuela thing was weird. The Keystone pipeline wasn't. Bill By the way, what do you mean it's weird? Back the price of oh, close backs. Let's go back one second. Mduro, you admit as a murdering thug. Right, he's a bad he's a bad d. The Iranians and a mula and the Iranian Mullas and Iran they're the number one state sponsored tour, right you yeah. Look, I'm yes, yes, man, Yeah, I think I mean, I'm not. I don't have their bank accounts. If they're the largest. They were a bad regime. The Iran deal was a good deal to get them to stop their Now that was the worst deal in the history of mankind. Is throwing out the deal has proved to be really problematic on nuclear ngial So wait a minute. You think a deal that resulted in billions of dollars dropped on the tarmac to the Mullahs of Iran, the number one state sponsor of terror, where we, the United States, did not We did not get as part of that deal any place anytime. Inspections a deal that would expire anyway in twenty twenty five, which for them, would allow the Iranians to pursue nuclear weapons once again. They began pursuing the nuclear weapons, the centrifuges, etc. As soon as the deal was ended and now no, that would be People who had questions about the deal originally have viewed that abolishing the deal uniladder really has proved to be a major mistake. So, according to reports, this new deal would allow the Russians to build a nuclear facility about ten billion dollars worth in Iran. It would it would free up sanction money to the tune of tens of billions of dollars, and the United States would then help Iran and the mulas of Iran get really wealthy and rich because we'd import their oil. You think that's a good deal for US? I don't know. They don't have a deal, and it doesn't look like there's going to be one because, as you know, the Russians are trying to carve out a way to go around the sanctions. If there were to be a deal, now, do you think that Joe Biden is would be in it? Do you think Joe Biden is making a mistake what you say, allowing Putin to be the broker in this deal? Putin to be the house Putin the broker Russia is I'll give you the answer, Russia is brokering this new Iranian deal. It doesn't make you a broker if you're blocking the deal, that's that's no, not broker, No, no, no. They're at the negotiating table trying to get the deal. They were part of the original deal, so and that's okay with you. They were in the deal. They're not a broker. How would you have a deal that they the Iranians won't speak to us directly? So Russia and China are and Europe we have a Well, let me ask you this question. Party that were part of the deal. As I say, I don't know that they're actually gonna have any deal because it seems like Vladimir Putin is just trust. It seems like Joe wants one badly. Don't you think it's a dumb idea to keep begging OPEC, who keeps rejecting the US to increase the oil production. Isn't it a bad idea to talk to Venezuela? Isn't it a bad idea to negotiate any deal that would allow the US to import oil from from Iran? Isn't dumb economically and for for national security reason. He did exactly what Donald Trump did, which he didn't press yes, which is pressure OPEC to supply more oil, and they did it. They before Ladi were putin, began amassing troops. The price of oil was coming down, had fallen about twenty five percent because OPEC had begun ramping up their production, and that Donald Trump, we were paying nearly just a little over two dollars a gallon for gasoline. And Donald Trump also took office and made America for the first time in seventy five years a net energy independent and a net exporter of energy. I w didn't look that up because you told me that the last time, and we were still importing one third of the oil we use. You keep saying we were no, no, no, but you got But when you when you put us, is that we opened up export and so we export more than we because we have better refining facilities hang on the net. When you become a net exporter of energy, that means that you are producing more than you need import and for refining purposes. Very different, and that we with a net exporter between natural gas, oil, and coal, we didn't need anything from anybody in the world. And the last month or a few months of the Trump presidency, we didn't import, for example, one barrel of oil from Saudi Arabia, not one. We imported one third of the oil we use. Do you not acknowledge that I acknowledge that we imported oil but for refinery purposes because a lot of these countries don't have the ability to refine it. We're using oil. Sixty some percent of our imports come from right. But hang on, what part of us being a net exporter of energy did you not understand? Because that was the reality. We understood it. I'm afraid you didn't understand what the difference between a net exporterer, Okay, exporter. So it was Donald Trump that opened the Keystone XL pipeline and then the North Dakota Pipeline. It was Donald Trump that opened up an noir, Donald Trump that reduced, you know, these burdensome regulations on the energy sector. It was Donald Trump that was basically said, the oil and energy companies brack baby frack, and drill baby drill, and we produced more energy than we are under Joe Biden. To question, why do you think if you just look at domestic US oil production barrels per day, why is the average barrels per day produced in the United States higher under Joe Biden that's not true. No, you're it. No, No, this is what you're saying. This is their talking point. Donald Joe Biden produced more oil and his first year in office, then Donald Trump didn't his first year of office. That's true, but it's for you. But that's that's called a sleight of hand because then Donald Trump opened up energy production in this country and as a result, by the time he ended his presidency after four years, he we were a net exporter of energy and we were energy independent, meaning we had enough of our own supply to take care of our own needs first. But we did it. We imported one third of the oil that we used the keys. Don't you're missing the you're missing the refinery question an oil? Why do other countries come? Why do other countries send oil to US besides us importing it? Don't they send it here to get refined. They send it here to be refined. So we thank you for gasoline? No, so, and then we and then we thought, and then we exported out. That's the point. Is your view that the US is simply a turnstyle that we do don't actually use the oil that we import. No, I'm saying that America has enough energy resources oil to last over well over one hundred years to meet all of our needs in them. Some we are the Middle East of natural gas. We have more natural gas than pretty much the Look if I told you that this year oil production in the US under Joe Biden is going to the second highest in the history of the United States, would that make you happy? It would make me happy. I would let you know what I'd make you know what would be you know? You know what would make me even happier if Joe would will pull back on all of the burdens and regulations he's put on the energy companies and they can't do their job to the best of their ability, and we should be again energy independent and a net exporter of energy. But I gotta run anyway now you are you still? What? Do we have any bet going here? I want to bet you owe me money from the previous I don't know you a penny. Yes, I took you and your wife out to dinner, and you had the best meal you ever had in your life. With the good meal. I'm not disputing that. But you bet me ten grand that Obamacare would cost one hundred million people their insurance. They don't have one hundred million people in their insure, but we lost millions, and millions lost their doctors, millions lost their plans. And by the way, the average person is paying about two hundred and fifty percent more and then not saving the twenty five hundred dollars a year has promised the bear. I should have stopped that, Thank you, should have goodbye, see you later, Bold inspired solutions for America. This is the Sean Hannity Show twenty five nowntil the top of the hour, eight hundred and nine for one Sean. If you want to join us, so Lenda, I'm I've been very, very consistently clear on my position as it relates to Ukraine. Right, there's no ambiguity here. I said over and over again, not one single American Buddha on the ground. Correct, correct, And I've said over and over and over again, if the Ukrainians want to fight after they've been invaded, they're a sovereign country. And we see, let's see, oh mass graves, indiscriminate bombing of women and children. We saw the disaster unfold of you know, Russian troops firing at at innocent men and women and children. This weekend. Just I mean there's firing away at all of them. We see neighborhood's level, department complexes leveled, we see all the atrocities you expected more and that of the Ukrainians show as they have been showing a willingness to fight for their own country. My position is not a single American boot on the ground, and that we can sell them all the weapons they want. Maybe they can't pay for them now, but we'll figure out a payment plan down the road. Hopefully if they can push the Russians out of their country. I'm not sure if they can, but we'll see what happens over time. And me, you've been saying this at nauseam, Sean, I mean, you know I was saying this to the team earlier. I mean, I mean I was out of my mind when you were talking about monoclonels. But then you know, people didn't remember what you said. And I kind of feel the same way now about you know, pinpoint accuracy precision from a place in Florida with the zone. Don't we have the technology? I mean, and people are like, oh my god, this again. But then you see the left wing media, it's like Sean Hannity says, to put boots on the ground. I'm like, the man has never said that. In fact, he has said the exact. In fact, I can think of an interview where you would just talk with Dan Hoffman, and you and Dan Hoffman had this conversation and you were like, I don't want our young men and women on the ground in the middle of this crisis. We just's you couldn't be more clear. What do I say? Historically? Well, people ask me, well, what is your political philosophy, Hannity, Well, I like the Reagan doctrine because Ronald Reagan never put a boot on the ground when the Soviets invaded Afghanistan in the eighties, but he did provide them with the means to defeat the Soviets and in that war and ended up being Stinger missiles. I supported Reagan helping the freedom fighting contras in Nicaragua battle back against the communist Sandinistas and Daniel Ortega not a single American boot on the ground. I support the Trump doctrine, which is bomb the living daylights out of the caliphate that grew under Obama and Biden. There might have been a couple of Intel boots on the ground just to make sure that the accuracy was perfect, but no boots on the ground for the most part. And he did the same thing with Solomani, the same thing with Baghdaddy and associate. It's the same thing with the al Qaeda leader in Yemen. And I agree with American first principles, make America great again, principles, Save America, principles, you know, And no matter how many times I say it, you know, people just just distort it on purpose. But Sean, remember when you were talking about Afghanistan, and you know, we're looking at over two hundred days now of SIV holders and American citizens left behind enemy lines. Nobody is there to help them, Nobody is there to rescue them. The situation there is beyond ire and nobody's saying in where nobody's talking about it. But we're sending thirteen billion dollars in aid, only one billion of which is going to military aid to Ukraine. You can't get any dumber. So the New York Times and others is suggesting and what was the Rolling Stone magazine and saying Hannity was quoting Putin's spokesperson who said that Joe is cognitively weak. I'm like, I say it every day of the week. And point point I've said it before the election, and not only that, I can play example after example that corroborates what I'm saying is true. My point was, our enemies see it. There's a reason. Now, why was Crimea annexed under Biden Obama? And why did the Caliphate grow under Biden Obama but not under Trump? Why is it now that Ukraine has invaded again under Biden? There are reasons for it, and the main reason is they perceived Joe is weak. That might be their talking point, but if they got it, they stole it from me because I've been making the case that having a weak American president is not good for this country and it's not good for the world. I wrote a book about it, Live Free or Die America and the World on the Brink. Now it's the on the brink part economic lee and on national security issues. So you know, I find it amazing. Well, Hannity said that they recognize. When Hannity recognizes that was my point. They already they know the reason they're doing this is because they see the weakness. And the other thing is, but also the other point you've been making that nobody else is making even now as the evidence is becoming more and more mainstream, is the fact that the Biden family is compromised by the many connections that they have to Ukraine. I'm sure well that when Hunter Biden's name showed up on Putin's list, it wasn't an accident. When Hillary Clinton's name showed up on there, it was not an accident. That was their propaganda, their lives. And you know, how many more times can I say, for me, it's a matter of conscience. We can't be the world's policeman. We just can't. We have the capacity to, but we can't, And well, actually don't have the capacity, And nor am I willing to risk any more of our national treasure because these idiot politicians, they're all gung home, they're all united, they're all let's we're going a war. Then they never fight those wars like Trump did against Isis to win the war, and then they politicize the war, and then after so many people died and have these catastrophic injuries, they say never mind. And well, how many times have I've been saying never again? Can we ever go down that road again? So but you know, I like the Reagan doctrine and the Trump doctrine as it relates to these conflicts. You don't have long protracted wars, you don't put an American boot on the ground if if, but you do support there's got to be some level of what kind of country do we want to be? Look, America has always had a strain of or a group of people the word is and they hate when you call them this isolationists, and they want to just put blinders on and say that's not our problem. I'm not one of those people. My Christian faith, to be very honest is what guides me here. And I can't look at mass graves and innocent men, women and children and say we're not going to lift a finger. If there's an excellent point, it's not about Putin or Zelenski, it's about me. It's about the civilians, right, because they're just literally victims in the middle of a hot mess. And I know you've been talking about the Reagan cuts that we were playing earlier today, and it reminds me of when Obama made fun of Romney and he was like, you know, the nineteen eighties are calling. You know, they want they want their policies back. You know, the Russian policies back and who are you to talk about your you know this, it's so stupid and nobody cares about Russia. And here we are again, and it's like, this is what happens when you don't study history and you don't remember what happened, you're doomed to repeat it. And in this case, they keep talking about Ukraine being a sovereign nation, but they don't care about the United States as sovereign borders. I mean, the hypocrisy is that day, oh god, this they're simple. And by the way, there's many people out there that don't want to support our allies. Israel a geo political you know, the only democracy in the region in the Middle East that is beyond shortsighted to me, because whether you want to believe it or not, alliances matter, and that if Putent tests NATO's alliance, it's going to be interesting to see if it's it's got any teeth in it or it's a paper tiger. And one final point before you go to your calls, because I know you want to get the callers, you make a very interesting point about Israel because Israel already had the approval for the East Medline, which would have given the European Union access to another energy source and completely gotten rid of that. And instead we're going to OPEC in Iran and Saudi Arabia. Why Israel is willing to work with you? Why? I think Benjamin nut yahoo with Levin last night was as clear he had moral clarity and he just laid it all out. We haven't he said to you, remember your interview with him? Which one is coming to a theater near you. And I know many of the things I've been saying over the years, people have said, well, you know, he's just saying it. I don't think about it. This is what I This is a danger I've been pointing to. It's not a spin, it's not a wig. It is a clinical diagnosis of a pathological movement that is sweeping our area but will soon come to a theater near you. It has to be stopped now, the ones who are standing right now in front of this. So now that's support Israel, support yourself. That he was right, and he's always been right, and I can't wait for him to be Prime minister again. All right, let's get through some calls here. Let's say hi to Charles in California, Charles, What the hell are you doing out there? Are you? How do your mind get out of there? Somebody's got to stay in fight. Sean, Yeah, but I'm telling you you're not gonna win for a long time. If ever, it's not going to give up. Good for you. What's on your mind today? I just wanted to bring up a topic that I really haven't heard too much about. If Ukraine had something similar to our Second Amendment, do you think that that would affected the earlier days or as a detourrent? I think the people were pretty well alarmed and very quickly armed, so a deterrent, you know, when you have hypersonic missiles and you have the tanks that Vladimir Putin has, and you out man an outgun like Russia does Ukraine's, it's it would have been helpful perhaps, But the insurgency, though, you definitely can use to defend yourself the AK forty seven or whatever weapon you have, automatic weapon, but you really need the javelins, a stinger, You really need the MiGs and the jets. That's what's going to win the war, and the drones. So correct, that's where we'll win it. But do you think that it may have slowed the Russians down. Possibly well, they've obviously been slowed down on a lot of fronts. I mean, to my surprise, I did not expect Putin's army to be this bad. I thought they would have been better. To my surprise, the resolve of the Ukrainian people to fight back has been in pretty inspiring actually, and as now that they've shown a willingness to fight, the Western world should provide them the means to fight. And by the way, I'm not forgiving anybody anything for free. We can't afford it. So over time they're gonna have to find ways to pass back. But in the interim we're not going to deny them the weaponry that they need to fight the war, because by then it would be over anyway. By the way, out in California, they have a four hundred dollars gas rebase that'll take California to universal basic income probably faster than anything else. Quick break right back to the phones, eight hundred and nine for one sean our number if you want to be a part of the program. At the top of the next hour, Cash Patel, who was the former Pentagon Chief of Staff, is asking a lot of tough questions about Joe Biden's involvement with China, Ukraine, Russia, questions we've been asking that we haven't gotten answers to. He'll join us as well. Right back for busy phones, Let's say, how to Steve Is in New York. Steve, how are you glad? You called? Good? How are you today? I'm good, sir. Happy Monday, and no such thing as a happy Monday, but happy Monday. Yeah, he too. Um, I'm calling because I'm a farmer in upstate New York and our lovely New York state government is trying to push a labor bill and it's gonna devastate our farmers. What is I'm not familiar with the bill? Tell me about it. So what's gonna do? Like two years ago, they they kind of they made us go to sixty hour work weeks for our laborum and as you know, farming, you can't really you know, when it comes to Harvard season, you can't. Mother nature dictates a lot of what you can do. And now they're trying to force us into a forty hour work week. Yeah, it's not gonna really work well for us. That's not gonna work well for anybody, you know, you only have a limited time when you can get get your crops before they begin to deteriorate, and you can't, then then it becomes a waste. So you know, those are periods where you usually work longer hour. Look the farmers that I knew and heard of and interviewed over the course of my life, I can tell you they're up before the sunrises and they're not done until the sun sets. So it's not a ninth to five job. And you know, in the case of many farmers, it's it's every single day, including Saturday and Sunday. You don't get a day off, right, And it's going to take an already inflated economy and inflate it more. You know, our food prices are going to have to go off to try to compassate for this. Yep, expect it. I mean they're they're not lifting a finger to help lower food prices or gas prices. You're right, Thanks, Steve, Joe and laj what's up, Big Joe? How are you love your show? Listen? David Purdue, is Donald Trump is coming to a seat to Georgia this week? To KEMP Saturday? Yeah? Great, David Purdue, and I think this will put David Purdue over the top against Brian Kemp, and then I predict David will go on to be the socialist Stacy Abrams. So I'm fine enough for David Purdue. I'm supporting David and herscheldown in Georgia. Um, the polls have Kemp with a slight lead. But what's interesting about the polls and Georgie's almost half of Republican primary voters don't know the Trump's supporting Purdue that I found that both Trafalgar insider advantage and number of polls have shown the same thing. I'm like, how do they not know that? But you know, sometimes it takes it takes maybe a rally like this one Saturday to change momentum. But anyway, Big Joe, we love you man. What's that You're the best. Appreciate you being one of us. Quick break right back