I ask again this evening: Why is America buying any Russian energy? When we do it at elevated oil prices, like today's trading has $115 for West Texas and $118 for Brent, we just lard Vladimir Putin's war machine with greater profits.
Now of course, Biden's jihad against fossil fuels has, over the past year, cut supply and raised prices again benefiting Putin and, of course, in national security terms, Biden's managed to disempower American energy and re-empower Putin's energy and while Putin gets it, Biden and his far-left radical greenies have never understood the security importance of oil! They just don't get it.
Now, as in so many cases, it looks like ordinary American folks do get it. A brand-new Reuters/IPSOS poll of 831 adults shows 80% of those Americans believe the U.S. should stop buying Russian oil and gas. Save America. Listen to ordinary Americans. They are smarter than the White House.
Meanwhile, I'm going to bet that Americans in their wisdom do not want this country to purchase oil from Iran. I'm just going to bet on that and yet, during this Putin-Ukraine crisis, on the front pages of all the media almost in the dead of night, American diplomats are negotiating a new Iranian nuclear deal.
Iran negotiators are saying a new nuclear deal with the U.S. is done. The Russians are saying 24 to 48 hours. European diplomats suggest a done deal within the next few deals. Russia is Iran's big backer in the Mideast. So, we'd be rewarding Russia for their good behavior on the world stage, wouldn't we? This has to be one of the absolute dumbest, utterly stupid national security mistakes in history.
Trump killed the deal a couple years ago because Iran's lying and cheating like they always do. In fact, the Trump-Pence administration rightfully blew up Iran's top terrorist Soleimani. Now, the Biden crowd is back at it and I'm going to bet that the fine and delicate hand of climate czar John Kerry who was, you may recall, secretary of state under Obama and negotiated the first Iran Nuclear Deal that was repeatedly broken by the mullahs, is back at it.
The U.N. is reporting that Iran has 33.2 kilograms or 73 pounds of 60% enriched materials, as of February 19—the highest ever recorded. Experts say when you get to 40 kilograms you've got your nuclear bomb.
It is also reported that the U.S. will transfer roughly $11 billion from overseas accounts to Iran for the release of four U.S. hostages. It is also reported that a variety of economic sanctions on Iran put in place by the Trump administration will be lifted and, of course, that means oil.
Besides terrorism, Iran's only other export, as far as I can tell, is oil. It's a rogue state that hates America, hates Israel and hates the Abraham Accords, negotiated by the Trump administration. Essentially, Biden and Kerry and whoever else is engaged will be choosing Iran over the Abraham Accords and our greatest ally in the world, that being Israel. It's a complete reversal of Trump policies and although this would be a terrible idea any time, it will be an especially terrible idea right now because of the diplomatic engagement and security rewards for Vladimir Putin in the Middle East.
This is immensely harmful to American interest and the interest of freedom and democracy everywhere. Iran, by the way, is not really a theocracy. It's a Marxist military state run by thugs and killers.
So finally, let me get this right, the labor secretary tells us this morning that domestic oil and gas drilling is off the table, but Biden's national security people are putting Iranian oil on the table?
Lord help us. Save America. Please cavalry, come as soon as you can. That's my riff.
This article is adapted from Larry Kudlow's opening commentary on the March 4, 2022, edition of "Kudlow."