Stephen Moore: Biden's 'Backwards Energy Policy' Cripples US Economist Stephen Moore at CPAC 2020. (Samuel Corum/Getty Images)
By Eric Mack | Sunday, 06 June 2021 01:26 PM
President Joe Biden's "backwards energy policy" is crippling the United States economy when it is trying to grow, according to former Trump economic adviser Stephen Moore.
"Inflation is a growing problem," Moore told Sunday's "The Cats Roundtable" on WABC 770 AM-N.Y., noting $70 a barrel for oil is "the highest in a long time."
"That's not just happening because of inflation," Moore added to host John Catsimatidis. "It's happening because Joe Biden has declared war on American energy."
Moore hailed "under Donald Trump we achieved energy independence," but Biden's agenda has reduced supply and caused a direct rise in prices.
"Biden continues to try to shut off American energy and I don't understand the logic of it, because we use a lot of energy in this country," he said.
"And the more he shuts down the supply, the higher the price goes, so that's a big problem."
America needs to control its energy resources, not be beholden to foreign countries, Moore continued.
"This is a backwards U.S. energy policy that Biden has put in place," he lamented. "We should be using all of our energy, John. We should be using our oil, our gas, our coal, we should be using our nuclear power. Where appropriate, we should use wind and solar.
"But we should not be reliant on one or two types of energy, because then you face real problems – let's say, if the sun isn't shining or the wind isn't blowing, how are we going to get our energy to heat our homes and provide the energy for our factories?"
Moore added a warning to Biden to get out of the way of the economic resurgence after COVID-19 lockdowns are lifting.
"I do think the economy is recovering," Moore concluded. "I do not think it is wise to pass another $2 trillion spending bill. The biggest danger I see on the economy, is rising prices and the taxes Biden wants.
"So Joe Biden: Stop taxing. Stop spending. Stop borrowing and this economy will be just fine."
Moore is also puzzled more states are not following the moves of 25 GOP governors who opted out of Biden's expanded unemployment benefits through September, saying "we're going to end those extra benefits now to give an enticement for people to get back into the workforce."
"We've got more jobs, and yet we also have more people on unemployment benefits than we've had in the last three or four months, which is kind of a puzzling thing to have happen," Moore said of Friday's economic report. "You'd think the number of people collecting unemployment benefits would be going down. I believe what's happening is people staying on unemployment until September when the extra benefits start to expire.
"Connecticut, Rhode Island, New York, New Jersey are continuing with those benefits," he continued. "And that means it's going to be a real burden on small businesses in states like that because it's hard to compete with your rich Uncle Sam when you're trying to get your workers back on the job."