Kudlow: This is the key to help Europe reduce their dependency on Russian gas

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LARRY KUDLOW: Yeah. It’s a very strange story. I mean, that’s about as much. We don’t have enough details. But some of these strategic petroleum reserves were exported to Europe and then through trading companies made their way to India and perhaps China. We don’t know all that we need to know. I don’t really understand. Look, there’s a couple of things here, Jason. Let’s kind of break this down. First point is, I don’t know why we have to export strategic petroleum reserves. What we should be doing is exporting LNG. Okay. That’s the key to help Europe out and reduce their dependency, particularly on Russian gas, but also Russian oil. That’s what we should be doing. But, you know, no leases and no permits has stopped all that. So that’s point number one. Point number two. Oil is fungible and that doesn’t really affect the price, you know, whether it’s here or overseas. It’s a world market. 

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