Increasing natural gas production in the U.S. could be a great way to hold leverage over both Russia and China, Dick Morris, former political strategist for presidents Bill Clinton and Donald Trump, said Sunday.
"The United States produces 40% of the world’s natural gas. It is the world’s leading producer. We could easily use that as a total form of leverage over China," Morris told "The Cats Roundtable" host John Catsimatidis.
After reporting that Russia and China met Saturday and agreed to work together to "dethrone" the U.S. as the leader of the world, Morris explained that, currently, "Russia is able to jerk Europe’s chain because it is able to provide 40% of the gas that Europe uses. So, Europe is reluctant to be aggressive against Russia in the invasion of Ukraine because they are afraid that Russia will cut off its oil."
"The problem is you don’t have a pipeline running under the Pacific or the Atlantic. So, Trump set about building liquefied natural guess plants, which take the gas and turns it into a liquid. You can put it on [a ship] and send it anywhere in the world. As a result, the United States has gone from providing about 4% of China’s gas five years ago to providing 22% of China’s gas today. And Russia provides about 40% of Europe’s gas," Morris continued, adding that it would "absolutely cripple the Russian economy.
"Europe has said it is going to stop being dependent on Russian gas over the next two years and replace Russia with us because of our liquefied natural gas," Morris noted.
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