California finds itself in another energy shortage as National Democrats seek to follow California s lead. Jennifer Lawrence complains about her nightmares about Tucker Carlson. And The Washington Post seeks out Bill Kristol to explain how to take down Republicans. This is The Ben Shapiro Show, and today s show is sponsored by ExpressVPN. Do you like your web history being seen and sold to advertisers? No? Me neither? Get ExpressVPN right now at ExpressVpn.me/BenShapiroShow and use the promo code: "ExpressVPN" to get 20% off your first month with discount code "RPV" at checkout. If you have a 401k or IRA that's underperforming, you can convert that into an IRA in precious metals right now. You can get an A+ rating with the Better Business Bureau (BBB) and a FREE info kit by texting BBB to 989898. Ben Shapiro is a writer, editor, and podcaster. His work has been featured in the New York Times, Wall Street Journal, USA Today, and The Huffington Post. He is a regular contributor to the Financial Times, and he is a frequent contributor to The Weekly Standard, The Financial Times and The New York Post. His latest book is out now: "The Dark Side Of: The Dark Side of Politics." is out on Amazon Prime and is available for pre-order now! only on Prime Video. Subscribe to his new streaming service, Prime Video, wherever you get your preferred Prime Video streaming device, so you can watch the show. Prime Video and get access to his entire library of shows, including Vimeo and other major rental and streaming services. FREE Training Plans, including AIM, Airdrops, Vimeo, and Vimeo courses, and the ability to access all of his social media platforms, and so much more. Thanks for listening to his work! and subscribe on Apple Podcasts, too! Subscribe and subscribe to his blog post on the show? Subscribe on iTunes, Podchaser, and other podcasting platforms? Learn more about him on Vimeo. and vimeo? Subscribe & comment below! . Thank you for supporting Ben Shapiro s work? and other links to Ben Shapiro's work on this podcast? , and other awesome stuff? v=1_a& other links mentioned in this post? . Thank you Ben Shapiro on
00:02:07.000The big problem, of course, is that it's very, very hot outside.
00:02:10.000The problem that I have with this particular explanation is that for a very long time, namely thousands of years, in the summer, it gets very, very hot in California.
00:02:16.000In fact, my entire life since I was a small child, it got very hot in the summer in California.
00:02:21.000In fact, that was one of the draws to California was summer on the beach in California.
00:02:26.000And what that meant is that since the time I was but a barefoot young child, it would be 120 degrees in places like Burbank, California and North Hollywood, California.
00:02:36.000And every single year, The grid would be strained and every single year there'd be transformers that blew up.
00:02:41.000I remember there was one summer living in North Hollywood as a teenager where the transformer near our home blew up.
00:02:46.000It was on a Sabbath, so we couldn't even get in our car and turn on the air conditioner.
00:02:49.000We just sat there in 120 degrees, frying our asses off.
00:02:53.000Well, this sort of thing is frequent in California because California is wildly mismanaged.
00:02:59.000If it turns out that there is a predictable weather event that happens every single year at a particular time, you have to start, you know, actually planning for it and doing things to ramp up, for example, the power production in your state.
00:03:10.000But California has dedicated itself to the Green Suicide Pact, whereby you're supposed to reduce fossil fuel reliance.
00:03:17.000It's supposed to rely on significantly less durable green energy, and this is going to fill in the gaps, except when it doesn't, and everybody is supposed to simply suffer through the summer heat in California.
00:03:27.000I do not understand, given the fact that I picked up my family and my company and left, why people are staying in the state of California.
00:03:33.000It is, in fact, turning into a hellscape between the homelessness and the crime, the bad energy mismanagement, the bad water mismanagement, the bad social policy.
00:03:41.000California, which the left uses as sort of the model for the nation, I'm struggling to understand why.
00:03:47.000Many of the people who have founded major companies in California, I'm talking about the big tech companies.
00:03:51.000I've talked to the heads of some big tech companies.
00:03:53.000Some of those big tech companies would be taken down by a couple bill in their market cap.
00:03:56.000If I mentioned the names of the people I've spoken to regularly at those companies, they've said that if they had to start their company all over again today, they certainly would not base it in California.
00:04:06.000Right now, the situation in California is, of course, pretty bad.
00:04:08.000According to Fox Business, California's grid operator warned that excessive heat starting on Wednesday would stress the energy grid and potentially lead to blackouts.
00:04:15.000Again, totally unpredictable that it would get very hot during the summer in California.
00:04:17.000It's never happened before, except for every year for tens of thousands of years.
00:04:20.000It said consumer conservation would likely be necessary over the weekend to avert power outages.
00:04:25.000According to that grid operator, starting tomorrow through Tuesday, California and the West are expecting extreme heat that is likely to strain the grid with increased energy demands, especially over the holiday weekend.
00:04:34.000It said that in many areas of the West, temperatures are expected to reach triple digits and to break records.
00:04:39.000They said, in what's likely to be the most extensive heat wave in the West so far this year, temperatures in Northern California are expected to be 10 to 20 degrees warmer than normal through Tuesday, September 6th.
00:04:47.000In Southern California, temperatures are expected to be 10 to 18 degrees warmer than normal.
00:04:52.000Oh, you mean, I don't know what they mean by warmer than normal, like in a given year?
00:04:57.000Like, is it 20 degrees hotter than it was last year, or is it 20 degrees hotter than it was, you know, during the winter?
00:05:03.000Is it 20 degrees hotter than it was 50 years ago?
00:05:08.000The California Independent System Operator said it's taking measures to bring all available energy resources online and that restricted maintenance operations have been issued from Wednesday through September 6th from noon to 10 p.m.
00:05:17.000every single day due to high loads and temperatures across the state.
00:05:22.000On Monday, the peak load for electricity was projected to be the highest of the year, exceeding 48,000 megawatts.
00:05:27.000Officials will ask Californians not to charge electric vehicles if conditions worsen.
00:05:30.000Remember, electric vehicles were supposed to save us all.
00:05:32.000The problem is, electric vehicles really strain the grid.
00:05:34.000In fact, you know how much electric vehicles strain the grid, right?
00:05:36.000You're plugging them into the electric grid and they take an enormous amount of energy.
00:05:40.000By the way, that energy is largely produced by fossil fuels.
00:05:43.000This is the great irony of electric vehicles.
00:05:44.000You're actually being subsidized by the state to a certain extent by fossil fuel use in the state, right?
00:05:49.000Your electric grid is powered by fossil fuels.
00:05:52.000You then plug your car into the fossil fuel powered electric grid, and then you don't have to pay for oil.
00:06:08.000It's why there are tech companies in places like Israel that are trying to figure out how to recharge electric vehicles as they run down the road.
00:06:15.000And actually trying to figure out how to use the energy from friction with the road to actually recharge the cars as they move, for example.
00:06:21.000Because the electric grid, people forget that when you plug the car into the wall, that that actually is powered by the same grid that is powering everything else.
00:06:31.000This message comes after California regulators moved last week to require all new vehicles in the state to run on electricity by 2035.
00:06:36.000So we've got a strained electric grid.
00:06:38.000And so you're going to have to turn off your air conditioner.
00:06:41.000Also, they are now trying to incentivize every single person in the state of California to move toward an electric vehicle, which will break the electric grid.
00:06:49.000They're gonna need to build more electric grid.
00:06:51.000They're gonna need to up the amount of power generated by the electric grid, but they are refusing to use the actual measures that you would use to increase the power, because all of that stuff, in order to be fuel efficient, is gonna actually have to be carbon-based.
00:07:02.000So, there ain't no way to escape this trap, guys.
00:07:05.000Green energy is just not energy efficient.
00:07:07.000Green energy just doesn't pay for itself.
00:07:13.000Wind and solar are not nearly as reliable as things like coal, as nuclear, as natural gas, as oil, right?
00:07:19.000All of the carbon-based fossil fuels are the things that you're still relying on in order to make your green move, your supposed green move, which means that the green vehicles are actually masking the underlying problem again, as always.
00:07:32.000The decision by the California Air Resources Board came two years after Governor Gavin Newsom first directed regulators to consider such a policy.
00:07:38.000If the goal is reached, California would cut emissions from cars in half by 2040.
00:07:40.000Yeah, well, they're not explaining how they're going to power all those cars without increasing the emissions that are necessary in order to power that grid.
00:07:48.000Should grid conditions deteriorate, the ISO may issue a series of emergency notifications to prepare the public for possible energy shortages.
00:07:54.000In fact, there are already energy shortages last night in Alameda as well as in Palo Alto.
00:07:58.000So glad to see all of the tech companies feeling it first.
00:08:02.000Again, the California independent system operator is basically acknowledging they just don't have the power to do this.
00:08:08.000Elliott Mainzer, the CEO of ISO, said in a video, quote, I know this has been a very long heat wave, and we're not asking you to do even more, but please stick with us and don't use any more power than is absolutely necessary.
00:08:18.000Late on Tuesday afternoon, solar power was supplying about a fifth of the state's power demand.
00:08:22.000Where's the other four fifths coming from?
00:08:24.000Would that be the nasty, terrible sources of energy that you guys have been reducing for years on end?
00:08:30.000If demand for power exhausts the grid's electric reserves, the ISO said it would instruct utilities to start imposing rotating outages the first time the state has taken such a measure since a brutal heatwave in August 2020.
00:08:38.000Wow, I mean, that's a really long time.
00:08:47.000By the way, the reason that this didn't happen during 2021 is because again, in the middle of the COVID pandemic, there were just a lot more people who are staying home.
00:08:57.000Maybe it wasn't quite as hot, but even then it strained the power grid.
00:09:03.000So this is the state that we're supposed to imitate.
00:09:05.000And according to the left, California is the leader.
00:09:07.000Gavin Newsom is trying to propose himself as a possible alternative to Joe Biden in 2024, should the old man fall down on the stairs or something.
00:09:15.000And so Gavin Newsom made an announcement yesterday that it's time for everybody to do their part.
00:09:19.000He'll be over at the French Laundry enjoying the food and the air conditioning.
00:09:23.000Everyone has to do their part to help step up for just a few more days.
00:09:27.000Individuals, the state, industries, business, all doing their part to help reduce strain on the grid.
00:09:33.000Now here's specifically what you can do.
00:09:35.000In the early morning hours, particularly tomorrow and the next day or so, pre-cool your home.
00:09:40.000Run your air conditioning earlier in the day when more power is available.
00:09:45.000And we encourage you to close your windows and blinds to keep your home cool as well.
00:09:50.000And today and tomorrow afternoon after 4 p.m., in particular 4 p.m., please turn your thermostat up to 78 degrees or higher and avoid to the extent possible using any really large appliances.
00:10:37.000In the heat and enjoy your freedom, California.
00:10:39.000Representative Eric Swalwell, who apparently did not tweet this from the bed of a Chinese spy, he tweeted, quote, It's time to rally, California.
00:10:46.000We all need to do our part to help power outages, help avoid power outages this week.
00:11:25.000You'll pay for it through your taxes to not upgrade the grid.
00:11:29.000Brianne Depeche, the energy and environment reporter over at the Washington Examiner, As an excellent piece talking about why California's grid is at the risk of blackouts.
00:11:38.000She talks about the fact that, of course, demand is high.
00:11:40.000Demand is high, particularly between 4 p.m.
00:11:56.000The answer is what happens at 4 p.m.? ?
00:11:58.000Well, the sun starts to set and the solar energy stops going online.
00:12:03.000Why, it's almost as though solar energy is not all that efficient for human use.
00:12:08.000To offset that imbalance, grid operators can call for consumers to conserve electricity voluntarily via that FlexAlert program.
00:12:14.000Severin Borenstein, a professor at University of California, Berkeley's Haas School of Business says, quote, I'm not a believer we should be doing this through voluntary pleading.
00:12:21.000I think we should have a price system that actually lowers the price most of the time and then raises the price when the system is tight.
00:12:31.000So instead, they're going to just request... They had this with water usage when I was in California.
00:12:35.000It wouldn't actually allow the pricing system to take care of the problem because then rich people would continue to water their lawns, and people who are not as rich would not continue to water their lawns.
00:12:41.000So instead, we will redistribute the misery equally.
00:12:45.000Supply has been dramatically constrained in California.
00:12:48.000According to the Washington Examiner, historic drought conditions and record low reservoir levels have reduced the state's ability to generate hydropower by 48%.
00:12:55.000By the way, they've built no new dams.
00:12:57.000That's something that Jerry Brown should have been doing 20 years ago, and he didn't do any of this stuff.
00:13:01.000In-state hydroelectric power fell last year to just 7% of California's utility scale net generation, according to data from the U.S.
00:13:07.000Energy Information Administration, down from nearly 21% in 2017.
00:13:13.000That's not only the effect of heat and drought on the supply of energy, they also exacerbate the risk of wildfires.
00:13:19.000California narrowly avoided a blackout last summer after the bootleg wildfire on the California-Oregon border damaged interstate transmission lines and temporarily halted some electricity imports.
00:13:26.000Speaking of which, interstate imports are key for California because California, despite being the most populous state in the Union with the most natural resources, has to get 25% of its electricity from other western states.
00:13:39.000But the reliability of the imports has gone down in recent years because states have been phasing out coal-fired power plants in the West, right?
00:13:44.000All of these surrounding states have been moving toward green.
00:13:46.000California imports energy from Arizona, New Mexico, Nevada, Oregon, and Washington, but those states are grappling with the same heat and drought conditions as California, and they also took many of their own fossil fuel-powered plants offline.
00:13:57.000Since 2013, these states retired more than 10 gigawatts of fossil fuel-generating capacity, leaving them with little excess resources to sell to California.
00:14:06.000Operators noted yesterday four of those five states are also expecting to be hit by the heat wave.
00:14:11.000California produces a huge amount of renewable energy through wind and solar power and produces more solar power than it can use during the middle of the day.
00:14:17.000The problem is that the batteries don't work.
00:14:19.000The challenge is when in the evening solar power declines, but people are still running those ACs.
00:14:23.000In its annual summer reliability assessment, according to the Washington Examiner, the North American Electric Reliability Corporation put the entire West at elevated risk for reserve shortages, with regulators warning that the state could face a power shortage of up to 1,700 megawatts on the hottest days.
00:14:37.000In addition, operators warned of possible disturbances to the state's solar photovoltaic, or PV, system, which converts solar into electricity.
00:14:44.000Disturbances to that technology continue to be a reliability concern.
00:14:48.000New renewable battery storage projects for wind and solar could keep supply online for longer, but California has been unable to match peak summer demand with increased capacity.
00:14:55.000Supply chain problems have also delayed many solar projects from advancing.
00:15:00.000So again, California has basically cut itself off at the knees because it turns out that radical environmentalism in the face of reality does not work.
00:15:07.000I'm sorry to break it to you, but no matter how much money you pour into sources of energy that are not nearly energy efficient enough, it is not going to make up for these gaps.
00:15:19.000Well, right now, if you're in California and you're suffering from overheating, I do have one solution for you, and that's more breathable sheets.
00:15:25.000You know, like the stuff that's on your bed.
00:15:26.000It'll help you sleep better given the fact that it's now 92 degrees in your bedroom in California.
00:15:30.000Did you know that thread count is a myth?
00:15:32.000Turns out it doesn't matter how many threads your sheets have if they are not the best quality threads possible.
00:15:36.000Bull & Branch uses the best 100% organic cotton threads on earth for a superior softness and a better night's sleep.
00:15:41.000Their sheets aren't just buttery, breathable, and impossibly soft to start.
00:15:44.000They get softer with every single wash.
00:15:46.000In fact, Bull & Branch sheets are so good, I literally cannot sleep in other sheets.
00:15:49.000They kind of ruined all other sheets for me.
00:15:50.000The Signature Hemmed Sheets from Bull & Branch are a bestseller for a reason.
00:15:53.000Not only do they use the best quality threads, threads so luxurious they're beloved by three U.S.
00:15:57.000presidents, they also actually fit your mattress the way they are supposed to.
00:16:01.000There's nothing more irritating to me than when I'm on my bed and the sheet pops off the mattress and suddenly my face is directly on the mattress, like ehhh.
00:16:08.000Bowen Branch, that's never going to happen because their signature sheets are properly fitted.
00:16:38.000In 2016, a study published in the American Economic Journal found that in the 12-month period after that SoCal facility was shuttered, the power it generated was largely replaced by natural gas, increasing emissions, driving up costs for consumers by an estimated $350 million that year alone.
00:16:53.000In the 12 month period following the closure of that nuclear generating station, researchers found carbon emissions also rose by 9 million metric tons, which would have been the equivalent of putting an additional 2 million gas consuming cars on the road.
00:17:06.000So now the state is trying to change course the same way that Europe is.
00:17:08.000They're extending the life of the Diablo Canyon nuclear power plant.
00:17:11.000That is the last remaining nuclear facility in the state.
00:17:15.000Again, this is what they've decided to do.
00:17:17.000California has decided to basically bet the living standards of its citizens on futile green policies that are not, in the end, going to lower emissions.
00:17:27.000They're actually, in some ways, going to increase emissions.
00:17:29.000Because you're going to have to increase the capacity of the grid.
00:17:31.000You're going to have to rely on things like natural gas to replace those nuclear power plants.
00:17:39.000You know, it's always left saying, follow the science.
00:17:41.000How about follow the science when it comes to the science of energy efficiency?
00:17:45.000Carbon-based fossil fuels are significantly more efficient than the other forms of energy that are being produced in the so-called green tech revolution.
00:18:00.000Michael Schellenberger, who recently attempted to run for governor in the state of California, He pointed out that this was a problem back in August of 2020.
00:18:09.000He talked about the rolling blackouts that happened in the state that year.
00:18:15.000He says that this is again because of California raising electricity prices because of its huge expansion in renewables.
00:18:22.000He points out, even though the cost of solar panels declined dramatically between 2011 and 2019, their unreliable and weather-dependent nature meant that they imposed large new costs in the form of storage and transmission to keep electricity as reliable.
00:18:33.000California's solar panels and farms were all turning off as the blackouts began, with no help available from the states to the east already in nightfall.
00:18:39.000Electricity from solar goes away at the very moment when the demand for electricity rises.
00:18:43.000The peak demand was steady in late hours, said the spokesperson for the ISO, and we had thousands of megawatts of solar reducing their output as the sun sets.
00:18:52.000So again, take all of your energy offline and then be shocked when you have no energy.
00:19:10.000You're just going to do a bunch of incredibly expensive, stupid things, and then you're going to end up relying on the old forms of fossil fuels so long as the technology doesn't advance.
00:19:17.000That's exactly what's happening in Europe, but that's not going to stop them from continuing to promote this nonsense.
00:19:22.000Literally yesterday, Jennifer Granholm said that she supports the California gas vehicle ban by 2035.
00:19:29.000...made national headlines by becoming the first state to say, by 2035, we're not going to have any gas-powered vehicles that are new, that are being sold.
00:19:38.000You can still drive your old ones, but you can't sell new ones.
00:19:44.000I think California really is leaning in.
00:19:46.000And, of course, the federal government has a goal of, the president has announced, by 2030, that half of the vehicles in the U.S., the new ones sold, would be electric.
00:20:00.000I mean, they're leaning in so far that they're falling over and smashing themselves in the face on the pavement, but they're definitely leaning in.
00:20:05.000And we should listen to Jennifer Granholm, our energy secretary, who knows nothing about energy, because after all, Jennifer Granholm is wearing smart people glasses.
00:20:12.000That's the way that you can tell whether somebody really knows about energy policies, they wear smart people glasses.
00:20:16.000Either that or they fly around in private jets like John Kerry and speak sonorously into the mic.
00:20:21.000I believe climate change must be fought like a war.
00:20:26.000Jennifer Granholm, by the way, also said we have to double the size of our energy grid using green energy.
00:20:36.000We have to basically double the size of the nation's electric grid with clean energy.
00:20:43.000Do you have any proposals for how to do that, lady?
00:20:45.000Because I'm not seeing any actual measures that you're proposing, other than just spending exorbitant amounts of money on really, really inefficient stuff.
00:20:54.000People like Jennifer Granholm, they really have your best interests at heart.
00:20:59.000Well, if you don't believe me, if you think that actually the people who run the government are not experts and they're really, really bad at this, then maybe you don't want to give them tax dollars that they shouldn't have had in the first place.
00:21:07.000This is why you should be checking out innovation refunds.
00:21:09.000If your business has five or more employees and managed to survive COVID, you could be eligible to receive a payroll tax rebate of up to $26,000 per employee.
00:22:04.000There's another choice here, which is you can just keep locking down for the climate.
00:22:10.000Bjorn Lomborg, who has written extensively, he's been a guest on the program, has written extensively about the environmentalists' emission timetables.
00:22:17.000He points out that the goals of the environmentalists radically decrease the availability of actual energy to people.
00:22:25.000He wrote in the Wall Street Journal back in September, quote, From the news to late night shows, much of the media makes it sound as if renewables are on the verge of taking over, but that's far from reality.
00:22:34.000In 2019, the latest complete year of data, 81% of the world's energy supply came from fossil fuels, according to the International Energy Agency.
00:22:41.000Even if all nations were to fulfill their current climate promises, the IEA estimates fossil fuel use would still make up 73% by 2040.
00:22:49.000How can this be possible when headlines constantly trumpet the future of solar and wind?
00:22:52.000Partly, it's that renewables produce mostly electricity, which is only 19% of all the energy the world consumes.
00:22:57.000The rest is used for things like heating, transportation, and the production of goods like steel and fertilizer.
00:23:02.000Even if all electricity turned green, most of the world would still run on fossil fuels.
00:23:07.000Almost two-thirds is still generated by fossil fuels, with nuclear and hydro supplying another quarter.
00:23:11.000The solar and wind favored by environmentalists generate 8%.
00:23:14.000Though renewables are often touted as the cheapest energy source, that's only true when the sun is shining and the wind is blowing.
00:23:20.000If it still might, you need backup power typically from fossil fuels, which makes electricity costlier because you now need to pay for both the solar panel and the gas turbine.
00:23:27.000The European Union, which gets 17% of its electricity from solar and wind, also has some of the highest consumer electricity costs.
00:23:35.000In fossil fuel use, says Bjorn Lomberg, the greenest continent is Africa because nearly half of its energy comes from renewables, mostly wood, dung, and cardboard burned for cooking and heating.
00:23:43.000Which kills about 700,000 people every year in Sub-Saharan Africa with indoor air pollution.
00:23:48.000More than half a billion Africans lack access to electricity.
00:23:51.000Economic development can move them out of this unenviable position, but it also means Africans will use significantly more fossil fuels than they do today.
00:23:58.000To give a sense of how it could grow, California uses more electricity on its pools and hot tubs than all 44 million inhabitants of Uganda consume total.
00:24:06.000Cutting fossil fuels as quickly as some environmentalists want will be tremendously difficult.
00:24:10.000In 2020, pandemic lockdowns forced the world to cut carbon emissions significantly.
00:24:13.000But to fulfill the Paris Climate Accords completely, the UN says global emissions would have to plunge even further every year for the rest of the decade.
00:24:19.000By the end of 2030, they'd have to have fallen by 11 times what they did in 2020.
00:24:28.000And by the way, it has international consequences because you may have noticed that some of America's opponents, some geopolitical powers that don't care about things like carbon emissions, they're simply using energy as a weapon, which by the way, oil has been a weapon since people discovered how to use oil for energy.
00:24:46.000Literally, since we began dredging up oil from the ground and using it in vehicles, using it to power the development of industry, since that began, oil has been a serious geopolitical issue.
00:24:57.000It's why people cared about the Middle East.
00:24:58.000It's the reason probably why Japan ended up attacking the United States at Pearl Harbor, because they were being deprived of the oil supplies that they needed in order to power their war machine through American blockade.
00:25:15.000Oil has always been energy use is always an issue.
00:25:17.000So if you voluntarily destroy your own energy efficiency because you have some sort of idea about fighting the sun.
00:25:25.000That's going to have some real consequences, which is why, by the way, Russia has decided to cut off Nord Stream, the Nord Stream pipeline, right?
00:25:31.000They're cutting it off in the middle of a war with Ukraine because they're attempting to freeze Europe out.
00:25:36.000Basically, they're now reversing their strategy in the War of 1812 with Napoleon.
00:25:44.000Basically, what they are now doing is they're saying, OK, well, if you will not come to Russia winter, we bring Russian winter to you.
00:25:53.000If you're not going to invade Russia and then get caught up, you know, like Napoleon or like Hitler in the middle of the Russian steppes and then frozen, we'll just freeze you, right?
00:26:00.000We will deprive you of energy in your own homes.
00:26:02.000And so Russia is cutting off Nord Stream at the beginning of winter.
00:26:05.000We've known this is coming for months.
00:26:37.000So you've heard us say this, that what what we see Russia's doing, and we've been very clear about this, is that they're using energy, they're weaponizing energy, and it's choosing to one of the things that has been out there to shut down the pipeline of Nordstrom one.
00:26:54.000Wow, you know, they're using energy as leverage.
00:26:57.000Who could have foreseen such a thing except for every sentient human being since the beginning of this war?
00:27:03.000I mean, that's shocking, and unsurprisingly, it is working.
00:27:07.000I've been saying for weeks on this program, it was very clear that Ukraine had to make a military push before the winter, because the winter was the end of this war.
00:27:12.000Because the Europeans are going to start pushing Ukraine to start making territorial concessions to end this thing, because you know what starts to hit home a lot in Europe?
00:27:21.000When your citizens are freezing to death in their apartments.
00:27:23.000It turns out that cold kills a lot more people every year than heat.
00:27:28.000I know this runs counter to the prevailing wisdom, which is that global warming is the chief threat.
00:27:31.000Cold, when it comes to what kills people, is the chief threat to human beings, not heat.
00:27:37.000The head of the EU yesterday had to announce that they're reducing energy use.
00:27:39.000They've basically gone into flex energy use the same way as California.
00:27:42.000You can blame Vladimir Putin for that, or you can blame the fact that this entire continent decided to follow the advice of an idiot Swedish teenager for no reason other than she was very upset.
00:28:08.000Because in these peak demands, the expensive gas comes into the market.
00:28:13.000So what we have to do is flatten the curve and avoid the peak demands.
00:28:20.000We will propose a mandatory target for reducing electricity use at peak hours and we will work very closely with the Member States to achieve this.
00:28:31.000Guys, we're back to flattening curves.
00:28:34.000Remember that time when we were going to flatten the curve by staying in our homes and wrecking our businesses and destroying the world economy?
00:28:42.000Meanwhile, in Britain, one of the solutions that is now being proposed in Britain is actually to, I guess, pay extraordinary subsidies to people for their energy.
00:28:53.000So they're now engaging in an energy bailout.
00:28:56.000According to Alex Wickham, A reporter at Bloomberg, on top of 130 billion pounds to freeze household energy bills, Liz Truss is nomalling another 40 billion pounds for small business.
00:29:06.000That equals the annual National Health Service budget.
00:30:27.000I mean, remember, when Russia turns off the pipeline, what does that suggest?
00:30:29.000It suggests that until five seconds ago, the Europeans were continuing to buy Russian oil, otherwise they wouldn't have been running the pipeline!
00:30:38.000What this demonstrates is that unless the West is willing to actually treat geopolitics as a serious business rather than committing suicide with regard to core resources like energy or, for example, semiconductors in Taiwan, unless they're willing to ramp up their own power, it turns out that competitive nations are going to look elsewhere.
00:30:57.000If you're India and the West has nothing to offer you in terms of energy supply, of course you're going to turn to Russia.
00:31:11.000It's a serious time and we have unserious leadership who are consumed with what they have determined is the world's most serious problem, namely the gradual escalation of temperature over the course of the next hundred years.
00:31:23.000And the effect on humanity, which it turns out is really good at adapting to problems.
00:31:27.000So we're going to do that, but we're just going to hand all power over to Russia and then we're going to yell at India if India decides that it's going to buy oil from Russia to take care of its citizens today.
00:31:36.000I will give a shout out here to my friend Vivek Ramaswamy.
00:31:40.000Who has been trying to urge all of these oil companies to stop falling for the soft fascism of the government working in concert with ESG priorities.
00:31:50.000So basically the government, left-wing governments, work in concert with groups like BlackRock and Larry Fink over at BlackRock to push oil companies to produce less energy and to get them to commit to environmental social governance.
00:32:04.000And when they do that, what they are doing is basically telling energy companies to stop producing energy.
00:32:08.000So Vivek has said, because BlackRock owns a big chunk of a lot of these energy companies, Vivek's proposal is, well, what if a bunch of us buy big chunks of these energy companies also, and then we tell them to stop listening to BlackRock, which is an excellent solution.
00:32:23.000Good piece over at the Wall Street Journal talking about what Vivek did yesterday.
00:32:26.000He sent a letter to Chevron CEO Mike Worth and the company's board.
00:32:30.000He said, quote, I want to liberate you from the constraints imposed on Chevron by its ESG promoting quote unquote shareholders.
00:32:36.000He writes that he looks forward to engaging with the company before next year's proxy voting session.
00:32:41.000The Chevron effort is a response to last year's proxy victory by hedge fund Engine No.
00:32:47.000that forced Exxon to accelerate energy transition efforts.
00:32:50.000Strive's letter, that's Vivec's company, calls for energy producers to dump their current strategy of limiting investments and returning cash to shareholders.
00:32:57.000It's one of the first formal calls for an oil giant to do so.
00:33:01.000So, again, I'm a big fan of this strategy and I think that many of us should invest in things like Strive in order to drive up ownership in important aspects of the economy.
00:33:11.000If you think those oil companies are eager to get into the inefficient business of solar, for example, you are off your rocker.
00:33:18.000They're doing it because of government pressure.
00:33:20.000They're doing it because the government has basically said, we are going to cut all these companies off at the knees by depriving them of their investments through regulatory power.
00:33:27.000And so there needs to be some pushback here or the West is going to fall by way of its own hand.
00:33:34.000Speaking of which, Joe Biden continues to tout the future of the economy.
00:33:48.000Because of documentaries like Matt Walsh's What Is Woman, we've gained more members than at any other time in our history.
00:33:54.000Our goal is to provide you an alternative because the woke left is on the march in every area of our culture, including, for example, children's content.
00:34:01.000We are fighting back by actually producing the kind of content you need to see.
00:34:05.000Help us keep the momentum by watching and sharing the film.
00:34:55.000Inspiring stuff there from our babbling leader.
00:34:57.000He also says that don't worry about it.
00:34:58.000We're going to spend taxpayer money wisely.
00:35:00.000If I spend taxpayer money wisely, he means he's going to load trillions of dollars into a leaf blower and then just sort of blow it out wherever he sees humans who might vote for him.
00:35:12.000I suppose that's spending the money wisely.
00:35:17.000I've asked each relevant cabinet agency to come forward today with a plan to help get the American people and our economy on the right side as fast as possible, and to spend taxpayers' money wisely.
00:35:31.000I might add, with all these legislations we've passed, Madam Vice President, we've still reduced the deficit substantially.
00:35:41.000Okay, this is the biggest lie in American politics.
00:35:43.000Again, if I spend $10,000 over my credit limit last month, and then I spend $4,000 over my credit limit this month, that's not me reducing the deficit.
00:36:47.000Well, you know who disagrees is the stock market, which continues to have an awful quarter.
00:36:51.000According to the Wall Street Journal, U.S.
00:36:52.000stock indices fell on Tuesday, driven by expectations for tighter federal reserve policy and an energy crisis in Europe.
00:36:57.000And by the way, This is the pattern of governance.
00:37:00.000You do a really crap job and then somebody has to come in and try to put a band-aid on it.
00:37:03.000So the Federal Reserve did a really, really bad job in terms of ramping up the inflation during 2020 and continuing to buy up trillions of dollars in assets, injecting money into an already overheated economy in 2021.
00:37:15.000But what's really exacerbated the problem is horrible legislative policy from the Biden administration and executive policy in 2021-2022.
00:37:22.000And that means now they're begging the Federal Reserve to come in and fix the problem.
00:37:25.000It's the same thing with the energy supply issues.
00:37:28.000Like, wow, you know, it turns out that the energy supply issues, a systemic problem generated by our bad policy.
00:38:44.000You can see the stock market riding that wave like it's a Six Flags ride.
00:38:50.000According to Jerome Powell, by the way, they're now looking at another 0.75 point percentage point increase rather than 0.50.
00:38:56.000They can go for three quarters of a percentage point increase, 75 basis points.
00:39:01.000Fed officials have done little to push back against the market expectation of a third consecutive 75 In a speech August 26th, Powell underscored the central bank's commitment to boosting interest rates enough to lower inflation from 40-year highs.
00:39:18.000He says we'll keep at it until we are confident the job is done.
00:39:23.000Again, he's been signaling this for a while.
00:39:26.000And Mohamed El-Erian over at Allianz, he's been saying, you know, you guys, you should've been tapping the brakes a long time ago.
00:39:31.000You're going to have to slam on the brakes.
00:39:33.000And when you slam on the brakes, the chances are that the economy is going to crash.
00:39:37.000Again, globally speaking, a lot of other countries which have been following the United States' lead are about to take it directly on the chin.
00:39:42.000Goldman Sachs is predicting 22-point inflation in places like the UK.
00:39:49.000Apparently, officials are going to submit their new economic projections at their meeting this month, showing how high they expect to lift the Fed funds rate by year's end.
00:39:56.000New York Fed President John Williams said, quote, their next steps need to be guided by where we want to see the interest rates by the end of the year and into next year.
00:40:01.000If based on the data, it's clear we need to get interest rates significantly higher by the end of the year.
00:40:05.000Obviously, that informs a decision at any given meeting.
00:40:09.000Powell is set to speak Thursday in a moderated discussion at the Cato Institute.
00:40:12.000Those are his last scheduled public remarks before the coming Fed meeting.
00:40:16.000Meanwhile, over in Britain, Liz Truss is attempting to put that country back on the right track, given the fact that they're about to launch off into unprecedented inflation, like the worst inflation that they've seen in maybe a couple of hundred years, depending on how you measure it, because the pound is about to reach parity with the US dollar.
00:40:32.000She said yesterday in accepting the gig as PM of the UK, That she was determined to deliver and she's going to do so by lowering taxes, lowering regulation, and hopefully jacking up energy supply, which of course is the proper move here.
00:40:44.000Our country was built by people who get things done.
00:40:48.000We have huge reserves of talent, of energy and determination.
00:40:54.000I am confident that together we can ride out the storm.
00:41:25.000Maybe she's Margaret Thatcher, part two.
00:41:26.000Maybe what we get here is Margaret Thatcher preceding a Ronald Reagan here in the United States, because that's what the West needs.
00:41:31.000It needs an actual clear-eyed vision about how to ramp up its own power in the face of predatory foreign governments like China and Russia.
00:41:39.000I'm just amazed at people in the West who keep saying they want to confront places like, I mean, Joe Biden says this.
00:41:44.000He says, we need to confront Russia and Ukraine.
00:41:56.000Alrighty guys, the rest of the show is continuing now.
00:41:58.000You don't want to miss it because we are going to be getting into Jennifer Lawrence, who apparently has been dreaming about Tucker Carlson.