Progressive MP Khanna blames inflation on the Fed. He says the United States should not export oil from the strategic reserve
Progressive US Representative Ro Khanna on Sunday blamed the US Federal Reserve for inflation and said the US should not export oil from the Strategic Petroleum Reserve except for European allies.
Khanna, who sits on the House Oversight Committees, the Armed Services, and Agriculture, appeared on “Sunday Morning Futures,” where she told anchor Maria Bartiromo that record inflation is partly due to the Fed holding quantitative easing for too long and the fact that it’s not being produced. Goods enough in America.
“Look at the shipping costs, look at the costs of importing all these goods,” the congressman said. “If we had a policy of industrialization, if we made more things in America, we would cut costs.”
Khanna questioned why we wanted to manufacture solar panels, batteries, electric vehicles and wind turbines in China, and said that “America should take the lead” in new energy for the 21st century.
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The California congressman also called on the United States and President Biden to stop exporting oil abroad, except for European allies.
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“This is a mistake… I don’t think this was the right decision, and we continue to call on the president not to export it,” Khanna said.
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Khanna’s comments come after reports earlier this month indicated that more than 5 million barrels of oil emitted from the Strategic Petroleum Reserve had been diverted to European and Asian countries instead of US refineries.