Hagerty: Biden Can Decrease War’s Impact on Prices with More Drilling That Would Defund Russian War Machine

During an interview released on Monday’s edition of the “Fox News Rundown” podcast, Sen. Bill Hagerty (R-TN) argued that if President Joe Biden wants to decrease the war in Ukraine’s impact on prices, he should allow more drilling because doing so would lower oil prices globally and “defund Putin’s war machine and any impact that we’re seeing based on the war in Ukraine would also be mitigated if Putin can no longer afford to fight that fight.”

Hagerty stated, [relevant remarks begin around 10:55] “The sad point is that we wouldn’t be talking about a recession at all if Joe Biden would step back, again, from these reckless policies. And I would start with energy. He needs to allow the American energy industry to get back into business, to start drilling again. That would have the immediate impact of lowering energy prices around the world. And not only would it help inflation here in America, but it would bring down the price of oil on a global basis. That would defund Putin’s war machine and any impact that we’re seeing based on the war in Ukraine would also be mitigated if Putin can no longer afford to fight that fight. So, that’s also pressure on food prices, that’s also pressure on energy. All of that could be abated if Biden would just step away from this theology on green energy and climate and look at a more practical approach to our economy.”

Follow Ian Hanchett on Twitter @IanHanchett