Varney rips Biden for continuing to buy Russian oil: ‘$4 gas is coming’

In his latest "My Take," "Varney & Co." host Stuart Varney rips President Biden's State of the Union speech after he failed to address U.S. oil production, arguing "$4 gas is coming" as the country continues to import Russian oil.

STUART VARNEY: President Biden has had a terrible first year. But he's not changing course. His speech last night revealed no new policies or initiatives to tackle what ails us. 

Inflation: no change. Biden thinks rising prices are the result of corporate greed, a lack of competition in the shipping and meatpacking industries, and of course the wickedness of big oil.

He actually claimed that combating climate change will save families $500 a year.

Nothing in that speech last night will stop the current inflation surge.

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Energy: no change. We've lost our energy independence, and Biden's not going to get it back. Not a word about raising our production of oil and gas. 

Nothing about pipelines. Just the same old, same old, about green energy, way into the future, somehow lowering prices. 

No surprise that oil immediately zoomed to $110 a barrel. $4 gas is coming!

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One more thing. When Saddam Hussein invaded Kuwait 40 years ago, President Bush said, "this shall not stand."

Our president would not allow Saddam to invade and stay. President Biden said nothing like that about Ukraine. 

No vow to get Putin out.

He stays. And we will continue to finance his occupation by continuing to buy Russian oil and gas.

That speech was billed as a re-set. A pivot, to make Democrats competitive in November's elections. I think it failed.

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