Media

CNBC’s Joe Kernen Confronts Biden Energy Adviser On Drilling In Venezuela

[Screenshot/Rumble/CNBC]

Nicole Silverio Media Reporter
Font Size:

CNBC anchor Joe Kernen confronted an energy adviser of President Joe Biden Wednesday on U.S. oil companies preparing to drill in Venezuela.

Kernen questioned U.S. Presidential energy coordinator Amos Hochstein on the Biden administration issuing a license to Chevron in late November to pump oil in Venezuela in an effort to lower record-high energy costs. The president has repeatedly called for the U.S. to end domestic drilling in order to transition to green energy.

“Part of the criticism from certain folks, Amos, is that now we’re talking to Chevron in Venezuela about increasing supply there, but still not, and I know you’re gonna say that we like the oil companies, we want them to produce, they’ve got 9,000 permits. I’ve heard it all so much. But it was ten days ago, the president again said, maybe you try to talk him out of it. I don’t know, I don’t know what you do when he says it. But when he said we’re gonna end drilling domestically, that causes the major oil producers to not want to invest long term … Can you give me a number … give me a number on how long,” Kernen said.

“Eventually, we’re going to be phasing out the use of oil and gas—” the adviser began.

“What does that look like?” Kernen interrupted. “You’re not going to want to invest any money in doing this if it’s two or three years from now, or even five years, Amos.”

WATCH:

Hochstein argued the U.S. will use oil for “several more years” due to gradual production and expensive investments of alternative uses. He said by 2035, the U.S. will likely still rely on oil production for vehicles, given that the administration’s goal is to make 50% of the car industry’s market electric vehicles (EV’s) in the U.S. (RELATED: ‘That’s Not An Accurate Take’: Doocy, Kirby Spar Over Oil Drilling In Venezuela Rather Than At Home) 

Kernen argued the U.S. will likely rely on oil production for decades, and Hochstein added that oil companies need the ability to produce a sufficient quantity of oil in order for the economy to eventually steer away from fossil fuel reliance and drop the price of oil for consumers.

Kernen then criticized Biden for not addressing domestic oil or EV production with oil companies or Tesla CEO Elon Musk. The adviser argued that the oil drilled by Chevron will be bought by and shipped to U.S. consumers, providing no benefit to the Venezuelan regime.

“Is it faster to get a pay off in Venezuela than it is, here’s the thing, so he [Biden] doesn’t invite Elon Musk when he’s talking about EV’s, he doesn’t invite the major oil companies domestically to come to the White House to talk about increasing production, but we go to Venezuela. These are the things that critics would say don’t make any sense,” Kernen said.

“Joe, let’s put some water in that,” the adviser said. “The Chevron license in Venezuela was an incentive really to kickstart the process, the political process, at Mexico City which is a huge breakthrough that we were able to achieve through the talks between the regime and the opposition and that happened on Friday. The license in Venezuela is very small, the production is tiny, the amount of oil that will come to the United States is not all that significant, it will help some, but it’s not that significant.”

He said the administration has contacted U.S. oil companies about increasing refineries of their products with the purpose of lowering costs. Kernen argued that the companies will not invest in a higher amount of production if the administration is striving to end drilling.

“You blame it on Putin when it goes up but then you say, well, they can lower it at any time, so that doesn’t really make sense,” Kernen said. “I don’t know if I’d invest money in trying to increase production if you’re gonna end drilling. If you keep saying that…tell him to stop saying that. You get to see him from time to time, he only seems to listen to one side of the argument, the way out there side of the thing.”

The president vowed to end drilling at an event in New York in early November, despite the administration putting more pressure on companies to drill more. The administration has repeatedly claimed that there are 9,000 unused permits for companies to drill on federal land, though the industry has argued that many are unusable and in the midst of litigation processes.

PREMIUM ARTICLE: Subscribe To Keep Reading

Sign up

By subscribing you agree to our Terms of Use

You're signed up!

Sign up

By subscribing you agree to our Terms of Use

You're signed up!
Sign up

By subscribing you agree to our Terms of Use

You're signed up!

Sign up

By subscribing you agree to our Terms of Use

You're signed up!
Sign up

By subscribing you agree to our Terms of Use

You're signed up!

Sign Up

By subscribing you agree to our Terms of Use

You're signed up!
Sign up

By subscribing you agree to our Terms of Use

You're signed up!
Sign up

By subscribing you agree to our Terms of Use

You're signed up!
BENEFITS READERS PASS PATRIOTS FOUNDERS
Daily and Breaking Newsletters
Daily Caller Shows
Ad Free Experience
Exclusive Articles
Custom Newsletters
Editor Daily Rundown
Behind The Scenes Coverage
Award Winning Documentaries
Patriot War Room
Patriot Live Chat
Exclusive Events
Gold Membership Card
Tucker Mug

What does Founders Club include?

Tucker Mug and Membership Card
Founders

Readers,

Instead of sucking up to the political and corporate powers that dominate America, The Daily Caller is fighting for you — our readers. We humbly ask you to consider joining us in this fight.

Now that millions of readers are rejecting the increasingly biased and even corrupt corporate media and joining us daily, there are powerful forces lined up to stop us: the old guard of the news media hopes to marginalize us; the big corporate ad agencies want to deprive us of revenue and put us out of business; senators threaten to have our reporters arrested for asking simple questions; the big tech platforms want to limit our ability to communicate with you; and the political party establishments feel threatened by our independence.

We don't complain -- we can't stand complainers -- but we do call it how we see it. We have a fight on our hands, and it's intense. We need your help to smash through the big tech, big media and big government blockade.

We're the insurgent outsiders for a reason: our deep-dive investigations hold the powerful to account. Our original videos undermine their narratives on a daily basis. Even our insistence on having fun infuriates them -- because we won’t bend the knee to political correctness.

One reason we stand apart is because we are not afraid to say we love America. We love her with every fiber of our being, and we think she's worth saving from today’s craziness.

Help us save her.

A second reason we stand out is the sheer number of honest responsible reporters we have helped train. We have trained so many solid reporters that they now hold prominent positions at publications across the political spectrum. Hear a rare reasonable voice at a place like CNN? There’s a good chance they were trained at Daily Caller. Same goes for the numerous Daily Caller alumni dominating the news coverage at outlets such as Fox News, Newsmax, Daily Wire and many others.

Simply put, America needs solid reporters fighting to tell the truth or we will never have honest elections or a fair system. We are working tirelessly to make that happen and we are making a difference.

Since 2010, The Daily Caller has grown immensely. We're in the halls of Congress. We're in the Oval Office. And we're in up to 20 million homes every single month. That's 20 million Americans like you who are impossible to ignore.

We can overcome the forces lined up against all of us. This is an important mission but we can’t do it unless you — the everyday Americans forgotten by the establishment — have our back.

Please consider becoming a Daily Caller Patriot today, and help us keep doing work that holds politicians, corporations and other leaders accountable. Help us thumb our noses at political correctness. Help us train a new generation of news reporters who will actually tell the truth. And help us remind Americans everywhere that there are millions of us who remain clear-eyed about our country's greatness.

In return for membership, Daily Caller Patriots will be able to read The Daily Caller without any of the ads that we have long used to support our mission. We know the ads drive you crazy. They drive us crazy too. But we need revenue to keep the fight going. If you join us, we will cut out the ads for you and put every Lincoln-headed cent we earn into amplifying our voice, training even more solid reporters, and giving you the ad-free experience and lightning fast website you deserve.

Patriots will also be eligible for Patriots Only content, newsletters, chats and live events with our reporters and editors. It's simple: welcome us into your lives, and we'll welcome you into ours.

We can save America together.

Become a Daily Caller Patriot today.

Signature

Neil Patel