Former Speaker of the House Newt Gingrich understands the danger in facing off with Russia and China —and he doesn’t think President Joe Biden is up to the task. In a recent op-ed for Fox News, Gingrich shared his thoughts on Biden’s weakness on the world stage.
The United States is confronting a pair of ruthless dictatorships in two potential collisions that could change history and leave Americans at enormous risk.
The news media focus is currently on Vladimir Putin and his threat to occupy part or all of Ukraine. Everyone recognizes that President Joe Biden made a dangerous mistake in his two-hour press conference when he said “a minor incursion” by Russia into Ukraine might be acceptable. His administration was trying to reverse that comment as soon as the press conference ended and spent the next two days trying to reassure everyone – including our allies – that Biden did not mean what he clearly said.
Of course, the Biden threat that there would be “severe sanctions” if Russia invaded Ukraine probably has no effect on Putin. First, when he seized all of Crimea, the Obama-Biden administration threatened severe sanctions and nothing seemed to hurt Russia much. Second, at a time when Biden’s war on American energy has raised the price of oil and forced him to beg Russia and Saudi Arabia to increase production to lower the price, Putin must be reveling in the absurdity of Biden’s words versus Biden’s actions.
Oil is the largest source of foreign income for Russia. Every dollar per barrel increase is a windfall Putin can spend on the Russian military and foreign adventures. In October 2020, with President Donald Trump’s energy independence policy, the price of crude was $39.90 a barrel. Today, with Biden’s anti-American energy policy, the price of crude has jumped to $85.43 a barrel.
So, despite Biden’s strong words about sanctions, the effect of his policies has been a $45.53 a barrel increase in profit (or 114.11%) for Putin to pay off his oligarchs, buy better military equipment, and engage in foreign adventures. Any supposed sanctions Biden imposed would have to overcome this windfall – and then go much deeper – for Putin to even feel it.
Read Gingrich’s full op-ed over at Fox News:
— Fox News (@FoxNews) January 26, 2022