Tags: 2020 Elections | larrykudlow | fossil | fuels | oil | naturalgas

Larry Kudlow Calls Biden's Oil 'Transition' Plan Unrealistic

larry kudlow speaks with the white house behind him
White House Economic Council Director Larry Kudlow talks to reporters outside the White House in May 2020. (Chip Somodevilla/Getty Images)

By    |   Sunday, 25 October 2020 08:38 AM

Joe Biden's plan to "transition" away from fossil fuels is not only a Utopian goal, it is also an impossible one to achieve, according to White House economic adviser Larry Kudlow.

"You couldn't do it even if you wanted to," Kudlow told Sunday's "The Cats Roundtable" on WABC 770 AM-N.Y. "In 15 years? Renewables are less than 10% of our total energy, and you're not going to remake that in 15 years.

"Pricing is not favorable. Natural gas is very cheap."

Once seized on by President Donald Trump and his campaign, Biden did admit "we're not getting rid of fossil fuels.

"We're getting rid of the subsidies for fossil fuels, but we're not getting rid of fossil fuels for a long time," Biden said, per The Hill.

It is not the only economic-killing plan by the Biden campaign, according to Kudlow, who rebuked Biden's tax plan as a threat to cut gross domestic product by 10% and cost 5 million American jobs.

"If you follow through on the other team's plans, you will lose $2.4 trillion of GDP," Kudlow told host John Catsimatidis. "Who would raise taxes after a damaging pandemic-related contraction? That team looks like stagnation, decline and pessimism."

Kudlow added Trump "is the candidate, frankly, of growth, prosperity and optimism," noting it is the largest difference between the presidential candidates.

"President Trump is going to have additional tax cuts," Kudlow said. "He's going to have middle-class tax cuts. He's going to try to make the business tax cuts deeper and permanent. We're going to have on-shoring. We want companies to come back to the US. And we'll provide tax incentives to do that."

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Joe Biden's plan to "transition" away from fossil fuels is not only a Utopian goal, it is also an impossible one to achieve, according to White House economic adviser Larry Kudlow.
larrykudlow, fossil, fuels, oil, naturalgas
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2020-38-25
Sunday, 25 October 2020 08:38 AM
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