Larry Kudlow, financial program host, and conservative television personality who served as the Director of the National Economic Council for former President Donald Trump, says Elon Musk is putting his money where his mouth is.
A few months ago, Musk spoke out against the Biden administration’s Build Back Better, saying, “I would just can this whole bill…It might be better if the bill doesn’t pass because we’ve spent so much money, you know, it’s like the federal budget deficit is insane.”
Musk said, “Hate to say it, but we need to increase oil and gas output immediately.”
Executives at the world’s most significant gas and oil producers are responding to soaring gas prices by ramping up crude production as the cost of gasoline in the U.S. has surged over $4 per gallon across the country.
Expectations that Congress and President Biden will completely ban imports of Russian petroleum. However, oil companies warned that new supplies would take a while to hit the market.
Chevron and Exxon Mobil are both increasing oil production in the expansive Permian Basin field in New Mexico and West Texas.
The companies laid out the strategies last year but have increased urgency due to the surging oil prices. Oil prices are at their highest level in 14 years.
Musk buys big chunk of Twitter
Now, Elon Musk has made a significant investment in social media. Kudlow says it is “Elon to the free speech rescue” by purchasing shares in Twitter.
Musk now holds a 9% stake in Twitter, making him the largest shareholder. He has pledged to promote free speech with his influence.
Musk’s Twitter share purchase began on March 14. On March 25, he posted a poll on Twitter that read, “Free speech is essential to a functioning democracy. Do you believe Twitter rigorously adheres to this principle?” 29.6% said “yes,” and 74% said “no” to Musk’s poll.
The following day, Musk commented that Twitter, “failing to adhere to free speech principles, fundamentally undermines democracy.”
Musk put his money where his mouth is, buying 73.5 million shares of Twitter, which is now worth $3.7 billion. On the news, Twitter shares rose 28%.
According to Kudlow, it has issued a massive global “shot across the bow” against the left-wing media.
“Beware, the cavalry is coming,” said Kudlow. Kudlow explained that although it is not widely known if Musk is a Democrat or Republican, he believes he is a libertarian. Kudlow came to that conclusion after looking back on Musk’s record of public pronouncements and his belief in free speech and free markets.
Over the past year or more, Musk has become more vocal in his beliefs, often adding to public policy discussions.