President Trump Ended Mr. Hussein Obama’s ‘War on America Business’
$DIA, $SPY, $QQQ
The record highs marked in the US stock market at the end of last week is America’s “seal of approval” for President Donald Trump’s pulling out out of the Paris accord, as wars on business and fossil fuels come to an end, thus shredding the Legacy of Barack Hussein Obama.
“Trump is saying, ‘I’m here to defend America, and we are going to continue our explorations, technology; we going to try for a clean coal; we’re going to keep natural gas fracking; we’re going to keep oil,’ etc. – and the market loves that, because the market wants growth,” Larry Kudlow said Sunday.
Mr. Kudlow said neither he nor Trump is anti-climate or against renewable energies, but the technology is not quite ready to power the US and its economy, which needs to kick into higher growth.
“I’m for everything; I’m for all of the above,” he said. “I just do not want the government to subsidize any of them, and I don’t want the government to regulate any of them out of business.”
Note: Larry Kudlow was a Key architect of President Trump’s tax platform and an early supporter of his campaign.
“And renewables are not sufficient in a growing economy. They’re only going to supply 3, 4, 5%. That’s it,” he said.
“Trump never said he wasn’t concerned about climate change,” Mr. Kudlow said, but “we’re in a bad deal – we’re going to have to subsidize these other countries” and our US clean energy needs to be affordable and sustainable if we are to operate in a growing economy.
“The war on fossil fuels is coming to an end. The US is not going to be a patsy.
“We’re not going to subsidize all these other countries around the world, and we’re not going to get trapped in regulations and the mandates that will essentially prevent us – prevent us – from supplying the necessary power to fuel a growing economy,” said Mr. Kudlow.
German Chancellor Angela Merkel and her overly optimistic renewables plan has “failed.” Nevertheless former President Barack Hussein Obama tried to mimic it, and Germany has had to backpedal from a jump on renewables before it was ready to service the entire country.
“You cannot grow the economy, you cannot have prosperity and jobs, if you do not have power (energy) or the power and electricity is so high in price that nobody can afford it,” added Mr. Kudlow. “Like Obama, the Europeans hate fossil fuels. It is a war on fossil fuels, and Germany is the best example.
“They made a big bet on renewables. Wind, solar, etc. And guess what? The bet failed, and they didn’t deliver on renewables. . . . Ironically, the Queen of Climate Change the last 2 years is producing huge volumes of coal.” Which Germany has a lot of.
Have a terrific week.
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