Summers: We Need to Promote Energy Production, Dems Won’t Always Have Dobbs to Help Them

During an interview aired on Friday’s broadcast of Bloomberg’s “Wall Street Week,” Harvard Professor, economist, Director of the National Economic Council under President Barack Obama, and Treasury Secretary under President Bill Clinton Larry Summers said that he believes the reaction to the Dobbs decision was crucial in the 2022 election results, which is “probably cautionary for Democrats. Because it’s not always going to be that way.” And encouraged more production of both renewable and non-renewable energy.

Summers stated that the reaction to the Dobbs ruling “was actually a substantial part of this story. That’s probably cautionary for Democrats. Because it’s not always going to be that way.”

He also said, “I think the country is governed best when it’s governed from the center and governed with moderation. Nobody’s going back to $3.5 trillion New Deals. That’s not on the table. And I think it’s appropriate, given inflation, that nothing like that be on the table. I think there’s a lot we can do to bring down the price of energy by promoting energy production of all kinds, renewable and non-renewable. I think there’s a lot that the administration can do, and will do with respect to technology, particularly in the semiconductor area. It’s a big challenge to actually build infrastructure out well in a way that’s going to contribute to reducing bottlenecks in our economy. I would like to see more partnership between business and government. And frankly, if we’re going to build out the necessary energy infrastructure around the world, I don’t think there’s any alternative. So, I think that the administration has a real opportunity now to move to an implementation phase.”

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