.larry_kudlow : Putin only invades a country when fossil fuel prices soar
North Dakota Republican Sen. John Hoeven on the White House issuing energy rules on military contracts on 'Kudlow.'
Now let me expand on this thought. Putin does not invade any place when his principal cash crop — that is, fossil fuels — is cheap. But he does get on his high horse and resumes his megalomania when fossil prices soar. Now please think about this. Putin invaded Georgia back in August of 2008 when the price of oil was about $125 a barrel. Now, hang on a minute. Putin invaded Crimea in February 2014 when oil was $103 a barrel. Coincidence? I don't think so. Then, go back to last February 2022 when oil was $92 a barrel, just short of the century mark and guess what? The Russian dictator invaded Ukraine. Coincidence? I don't think so.
Now, remember the late John McCain's great economic analysis that Russia is a "gas station masquerading as a country"? It was Sen. McCain’s finest moment... but it was not ours. But Putin grasped the McCain analysis with great clarity. Now, let’s switch gears. Between January 2017 and January 2021, during the Trump administration, the average price range pre-COVID was $40 to $60 a barrel. In other words: cheap oil. In other words:
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