
Episode 4453: Creating Legislation To Stop The Energy Emergency ...
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Donald Trump
Explain it. But I can tell you that right now we have over 100 countries that are calling us like morning, noon and night, dying to make a deal. We're in a great position of strength. We'll make great deals. And when we don't make deals, Stephen, we're just going to set the deals. We'll say that country is going to pay a 20% tariff. That country is going to pay 15%. Another one's going to pay 30 or 40% because we have a big deficit with a certain country. They're going to pay 30, 40, 50, 50, 60%. So we'll just set those deals. I could set those deals tomorrow and do away with negotiating, but we're negotiating with South Korea, we're negotiating with Japan. We're negotiating with a lot of different. Many, many. India is a very big. They want to make a deal so bad. I'm not telling anything out of school. We're going to make great deals for America instead of bad policies.
Stephen K. Bannon
So what we're talking about, Steve, and why I needed you now. Thank you for joining us.
James Carville
Is Carville saying the tax cuts for.
Stephen K. Bannon
The billionaires, the tax cuts for the top.
James Carville
That's what Trump's about and that's killing us.
Stephen K. Bannon
You say not this time.
James Carville
Yeah, absolutely. I mean, look, when Biden and Schumer and Pelosi ran things in January, February, March, April of 2021, did we see, did we see a tax hike on the billionaires? You most certainly did and never even got a committee. Why the Democratic Party is owned by billionaires. That's why you have a billionaire class, a credential class, James. They've abandoned what used to be Clinton's base. They abandoned the working class folks in this country. They abandoned Democratic families like mine. They abandoned it. And that's what President Trump is trying to reverse, is what really started with Bush 41 and Clinton is globalization.
Stephen K. Bannon
Jimmy's going to respond.
James Carville
It was, it was Bill Clinton that allowed the Chinese Communist Party into the World Trade Organization, by the way. Both parties did it. The neoliberal, neocon. And that's why both parties are responsible for this. President Trump, this is a revolution. You're 100 days into this. And that's what he's trying to do, is redo the entire commercial relationships of the world that focus not just on America first, but American citizens first and particularly working class and middle class to bring high value added manufacturing jobs.
Stephen K. Bannon
So Steve says that he's going to raise taxes on the rich to help pay for the tax cuts for the Middle class.
James Carville
This time, I hope that she was right.
Donald Trump
As you know, it was one at the Supreme Court. And what we're doing is we have a country that's based solely on merit now, and that's the way it is. If somebody's out there doing a great job, and this includes getting into colleges, if you've worked really hard, we don't look at race, we don't look at color, we don't look at height or shortness or weight. If somebody is doing a good job and they worked and they got great marks and they got great board numbers and they get rejected at this, this Harvard, which has been so disgusting, so horribly. I mean, so think of it. They hired Bill de Blasio and Lori Lightfoot, the two worst mayors in the history. They pay him a fortune. But that was the course, though. They're teaching management. The course was even on merit.
James Carville
He also went out of his ways to make sure the historic black colleges, universities were well financed and has sound financial footing. Right. So people get opportunities and get access to college. If they can't get into these other colleges, they get in college. Some of those are some of the greatest. Hampton Institute in my home state, Virginia, is one of the finest colleges in the country. Right? Right. President Trump has gone out of his way to do that. President Trump is somebody for every American. It's about being an American citizen, and he's fighting for that every day.
Stephen K. Bannon
I think we're at a very high leverage moment where there is an attempt to essentially consolidate something that looks like a presidential dictatorship, more similar to the kind of system that they have in, say, Turkey than what we've had in the U.S. i don't think that that is by any means guaranteed to be successful. In fact, I think it faces lots of obstacles. But I do think it could go either way. And I guess my question to you is, if we. If we were to speak a year from now, are you confident that the rule of law will be stronger and this president weaker in what he's trying to do, the constitutional order, or the same or worse?
James Carville
I'm confident that the people of this great country and some who might be sleeping right now and not paying attention will wake up? And I am confident that they will take to the streets and raise their voices and push back against those authoritarian impulses and demand that our democracy be restored. This is the primal scream of a dying regime. Pray for our enemies, because we're going medieval on these people. Christians, I got a free shot. All these networks lying about the people, the people have had a belly full of it. I know you don't like hearing that. I know you try to do everything in the world to stop that, but you're not going to stop it. It's going to happen.
Dave Walsh
And where do people like that go.
James Carville
To share the big lie?
Dave Walsh
MAGA I wish in my soul, I.
James Carville
Wish that any of these people had a conscience. Ask yourself, what is my task and what is my purpose? If that answer is to save my country, this country will be saved. War ROOM here's your host, Stephen k. Ban Thursday 1st May year of Allure 2025 Dave Walsh is my co host for the next couple hours. Dave, thank you so much. I know you don't get in town as much as as you want or maybe you get in town more than you want. It's I know you're you're Florida man, so I know it's tough to get you Florida guys up here, but thanks for coming. Thanks for coming by.
Stephen K. Bannon
Thanks for having me.
James Carville
STEVE we're going to do a lot of energy and a lot of the economics and trade and all that, but there's a couple of things that are popping today as we come on. We're going to get into that a little bit. Last night the the town hall, I want to give a hat tip to News Nation. They tried to pull it off. Very ambitious. I know the president loved it. He was on for 30 minutes. He'd have stayed on it for another 30, but he had backed up CEOs outside the Oval Office to kind of get into from his follow on from his the great day he had yesterday with all the CEOs and the speech and all that. So he worked 10 or 11 o'clock I think for the Oval working with these folks. It was pretty extraordinary. We got into a lot of it. I opted out of going up and doing it live, which was offered. It was great. I was really appreciative of the News Nation folks, but it's just so much going on here. It's so tough to even move the show and to try to do follow on up there. Just things are happening and all happening good because the second hundred days is off to a rip. And as we said this is probably we laid the predicate in the first hundred days. You're now going to deliver even more in the second. And this is where it's going to get very gnarly because you have the convergence of this constitutional crisis with the economic situation and clearly the everything dealing with the war in the kinetic part of the third World War. Dave Walsh, how are we doing in your mind? And I'm trying to get Mike Davis up here early. We're packed today with folks. But how do you think we're doing? First off, President Trump has a mindset that in order to get the economy like he had it in 2019, you need his first predicate, even before interest rates and before the cost of money and all that. His absolutely foundational element is full spectrum energy dominance. So in your assessment of the first hundred days, where do you think, how do you think we're doing?
Stephen K. Bannon
Well, the centerpiece of the first hundred days, the EO on the national energy emergency is a big deal. It's real.
James Carville
Walk people through that.
Stephen K. Bannon
We have a massive electric power shortage in the country already. The NERC National Electoral Liability Council revealed for the summer of 24 and then the winter of 25, 24, 25, we have about 40% of our population and then in the winter about 60% of our population exposed across five regions, five NERC regions in the country to under, under normal, above normal weather conditions. The high possibility of brownouts and blackouts just like happened in Spain this week.
James Carville
Put that in perspective of modern American history. Let's say from the Arab oil embargo. Is this unusual? Has this happened before? Is that a normal course of business thing that pops up or is this pretty extraordinary? It relates to an emergency.
Stephen K. Bannon
This is mass extraordinary. Massive extraordinary. It's symptomatic of reserve margins shrinking badly.
James Carville
But it's predicated upon the buy in of corporate America and the end in the political class who are getting paid off in the regulators in the states and at the federal level in the decarbonization. This is.
Stephen K. Bannon
Yeah.
James Carville
This is the early stages of what happened in Germany, correct?
Stephen K. Bannon
Precisely.
James Carville
That's what precisely. I want every this audience understand this. What's going on behind the scenes is they're deindustrializing America through energy policy.
Stephen K. Bannon
Yeah. This is due to the mass over adoption of very, very part time, very intermittent power generation resources with the premature close down of a whole bunch of nuclear, coal and even gas power.
James Carville
Premature taking off real. And hang on, to add insult to injury, that all the component pieces and the manufacturing of those things we're putting on are all manufactured in China. And we all do that with big tax subs, essential tax subsidies from American. That is insane. That is the definition of insanity. That you would take off your proven baseload to go to something theoretical and that that theoretical you would see would put you into a situation like Spain and Portugal of Energy shortages at the times you need them. Big hot summers and cold winters. And at the same time, what's actually producing this is made by your mortal enemy. And American taxpayers are underwriting that. Is that actually where we are?
Stephen K. Bannon
That's where we are. And especially in huge regions of the country. PJM here, miso, the Midwest and California Caiso. We've, we've taken down these resources way in advance of any of the renewals even being installed based on environmental compliance with EPA dogma from the Obama era, which was all about shutting down coal. And then the, the, the Biden era, which put that into high gear. Absolutely high gear. We've shut down these baseload continuous duty, highly effective electricity production sources early, even before this nonsense of short time, intermittent stuff has been installed. So we're way, way under where reserve margins should be to deal with a peak hot day or a peak cold day in the winter. Reserve margins used to be 25% 2012. Now they're down to 14.9. My calculation, when you remove some of the word salad that utilities use to describe demand management. Now demand management means voluntary and involuntary demand management. Cut your air conditioner off, sweat, voluntary and involuntary and.
James Carville
Or we're going to cut it off for you.
Stephen K. Bannon
Load shed. Load shed is fancy speak for we don't have enough power. These phrases of knowledge, that's not making America great.
James Carville
That's not. That's America. We're coming back. That is not coming back and being a manufacturing superpower, is it?
Stephen K. Bannon
Yeah, you'd have to go. Electricity was commercialized in about 1885, so you get about 1930. It became completely dominant and abundant supply for industry leading into World War II where it became very abundant to meet the manufacturing requirements of that huge activity. This is massively unusual for 80 years, 80 years of commercial electrification being a dominant thing, to have a shortage of generated power not from lightning strikes or tornadoes or hurricanes, but a shortage of generated power.
James Carville
A self inflicted, self inflicted, Totally, totally, totally by the upper hands. And the people have paid for this through higher rates, Much higher rates. Much, much higher rates. And their tax money, they're underwriting it by getting less tax revenue because we're building it in. The Chinese Communist Party are building the component pieces of what's going to take over. You would almost. I'm not a conspiracy theory guy, but it's almost so well thought through. It's like the invasion on the southern border. There's something not, there's something screwy with this. It's so awful. Right? It's so awful. You see what happened in Spain. Has Trump's. Did Trump's EO cut to the heart of this on the national energy emergency.
Stephen K. Bannon
Well, this nearly happened in Germany in November. For 10 days in Germany we had the DunkerFluit that is Doldrums from lack of wind for 10 days. Germany nearly lost its grid in November Already in the United States in 2024. The Southwest Power Pool which is 15 states Arkansas through Wyoming to Minnesota, Missouri had three days in the summer last year, 2024 where they installed resource advisories, conservative operation advisories, a higher standard. Then finally an emergency alert in a three day period due to wind. 34,000 megawatts of wind up there falling to 1200 of production. Same thing has happened in Spain. Fortunately it took three days for that decline in wind power to occur in Spain. This solar drop happened in a few minutes. About 15,000 megawatts dumped off the system because of Southwest Bain. Lack of solar looks like the most plausible thing out there.
James Carville
Give me we get. Well hang on a second. I'm going to get you back. I want to get more Runway in the Spanish thing because I still and the fact that there are a bunch of articles saying we were 30 of 60 seconds away from the entire continent of Europe going black. So I want to get to all that folks. This is a self inflicted wound. This is what is one of the core things of President Trump of being back returning America to her greatness is to stop this fricking madness of the elites in this country that are out of control totally and completely. The run up the rio reset on July 6 in Rio de Janeiro, Brazil the BRICS nations are going to meet in the Chinese Communist Party is going to try to run the table in the United States of America and de dollarization effort go to Tex Bannon Ba n o n right now. 989-898 get the ultimate guide for investing in gold and precious metals in the era Trump. Back with Dave Walsh in a moment. 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Text Bannon B A N N o N to 989-898 and let the experts at Birchgold help you secure your financial future today with Gold. Here's your host, Stephen K. Bannon. Into the Dollar Empire virtual.com bannon make sure you get access to all of we're gonna have a lot more updates. The Road to Rio got some very special guests next week week to talk all about this. The dollar currency Bretton woods. What you need to know, what you need to know to to assist and support President Trump is now we get this big economic agenda through. John Thune finally in the great Mad Boyle, I think had a piece on this over Breitbart, Scott Besant and John Thune. The cavalry kind of finally arrived, at least on getting some sort of process. So much of what's important this town, you got to have a process. You have to have a process that has some sort of logic to it. It's one of the issues. I love what Doge attempted to do. I'd like to have a little more process on it, particularly in waste, fraud and abuse. Not programmatic changes. Programmatic changes are critically important. In fact, that's going to be the big knife fight at the end. But you need process. They put process into this kind of. The great big beautiful bill. The great big beautiful bill is two things kind of simultaneously or three. Number one, it is the reconciliation. It's going to be a spending massive kind of spending bill and a debt ceiling relief. The reason they're going through all these gimmicks and backflips is because they don't need 60 votes if they do it this way. So there's all kind of gimmicks you have to do. They think they do over 50, 50 votes or 51 votes. The spending thing is all upside down. We had Senator Ron Johnson yesterday say point blank he needs to see five training cuts or he's not going to vote. So that's all coming about. But Speaker Johnson's point that this is going to be done by Memorial Day I just don't think is accurate. So you have the whole spending part of this. And we're going to make sure you get in totally into the details. You then have a tax part of it. Obviously, we're making the case that the biggest tax cut in American history for the middle class and working class is upon us. You extend the 17 tax cuts, you then add no tax on tips, no tax on Social Security, no tax on overtime. And President Trump reiterated in Michigan and then reiterated again at the Cabinet and then reiterated again last night on the town hall of News Nation. Also, there's all this, there's going to be one billion different things tucked into this bill because this bill is going to be, I don't know, 50,000 pages. There's going to be all kind of things tucked in there that we're going to have to go through. And we commit to you, if you've got a team on this, we're going to break it all down. And every day you're going to get highlighted. You, this audience took out already. You killed one of the big things the lobbyists in the swamp are working on. And that was in the reconciliation bill changes to have in one big beautiful bill, have one big beautiful agency, get rid of the fcc, get rid of the ftc, all that. And our point is we're in for the, we're for the deconstruction of the administrative state and for deregulation, but you definitely need some regulatory apparatus. And President Trump has got all star teams and has downsized these. He's got all star teams of these agencies. And these agencies are the tip of the spear of taking on the oligarchs, which are creations of the progressive part of the Democratic Party. And we're kind of left with them. And a lot of them have their nose under the tent and some of them are trying to get inside the tent and they try to what they try to do here is get rid of the ftc. Because why, why would you go with the FTC now? Because it's the one that's holding Zuckerbucks accountable. It's the one that's got him in trial. It's the one tip of the spear that's trying to break up Facebook essentially. And they want to do away with it. It was your phone calls. You're going to Article 3, you're going to Bill Blaster getting in touch with people on the committee. They stopped it in 24 hours. As soon as you expose it and get people on it. And they're like shocked. Why are these constituents calling us and yelling and screaming? You can't do this. Why would they care about the ftc? That's the old days. The old ways Washington worked was to do it behind closed doors. The fat cats and the three martini lunches and the smoking the cigars and cutting deals. This is one of the things that if you see with President Trump, every day he walks into the Oval and he just has the press there. It's called disintermediation. That's a fancy Harvard Business School term for take out the kind of blocking middleman and just expose whatever to the thing itself. This is what we're trying to do here in the war room. This is why what Dave Walsh had exposed on energy, because for years I couldn't figure out the German thing and I couldn't figure out here and I couldn't figure out the net carbon zero. I said, it's all like a cult. It makes no sense. It just, it's, it's, it's bizarre. Then you find out there's actually quite systemic. It's the, it's the economic equivalent here of the border. It's not chaos. Biden, these guys had a very well thought through plan to get as many people up here as possible. In fact, that mentality, remember the Langford bill? It was going to be 2 million illegal alien invaders a year. 2 million. That's the lies you were told. And people kind of accept it now. We beat it back. This audience beat it back. But there was a mindset out in this city to say in the Imperial campus. That's probably right. We've been doing this 25 years, the same thing on energy. What is happening, if I can just frame it, is that the utilities, it's a little bit of regulatory capture. The people around it, the lobbyists, people are making a ton of money on this. And the ratepayers are a little bit asleep because somehow they're buying and weaving on how they're raising these rates. Your electricity bill's going up substantially. The availability of constant, of good old fashioned American constant energy at any time, you're being told, hey, in the middle of summer, you got to cut your air conditioner up to 80, right? Or in the middle of winter, you got to cut your heat down to 40. At the same time, what the alternative, they're doing this kind of crazy wind, solar, all that, which will never be a baseload, that can power an advanced industrial economy. Oh, by the way, all those parts are made by our greatest rival, right? China. And it turns out there's tax breaks all over. I think there's $60 billion this year that are in tax or tax benefits for the manufacture people buy for the manufacturers in China. It's insane. This program every step of the way screws the deplorables, sir.
Stephen K. Bannon
No, it does. I mean one of the things if we look at the last five years, including this year year because of the incentives and developers and utilities jumping all over this opportunity to profit from incentives and from if you're a regulated utility the asset churn benefit of getting 10.8 11% guarantee on new capital, new capacity.
James Carville
Exactly. And new capacity will be in the green capacity because it'll be more sellable.
Stephen K. Bannon
Politically correct. More sellable can get permitted and offers a massive return because of the incentives but also because of the tax act the makers, the accelerated depreciation. This stuff is another. There's 42 billion a year being spent on tax incentives to incentivize this stuff which is now 70% solar. All that coming from China. We're incentivizing that plus in the tax code another 11 or 12 billion of pull forward depreciation allowing very rapid depreciation of this stuff. So you're looking at it's incentivized to the tune of 52, 53% all in. That's what they're investing in utilities for the messaging and developers for the incentives. So if I look last six years, five years we've been 91% of new US capacity has been renewable part time, intermittent, very low value energy stuff. At peak time of day, for example, 70% of that is solar. At the peak time of day the solar accredited value ranges from 8% to about 15% of its of its named rating plate. Because when it's cold at 5, 6 in the morning and power is needed, it's not there. And then in the evening at between 4:30 and 7:30 when the temperature remains very high in Texas, in the Southeast, in California, solar goes away rapidly. The temperatures hang in there, demand stays way up and you've got shortages and we've got half of the grids in the country now at the grid level who aren't in charge but who comment on these what the utilities are doing crying and ringing the alarm bell that they're all in shortage. Here's PJM Broadcasting, the chairman of PJM that right here where we're sitting next year you've got power shortages imminent.
James Carville
To hear they're telling they send a letter out. This letter, hold on. This letter right here to stakeholders. Every time you get a stakeholder letter, what does that letter Tell people in.
Stephen K. Bannon
December from the chairman of pjn, right? No, not well broadcast.
James Carville
Right.
Stephen K. Bannon
But he's a big deal.
James Carville
Yeah, that one on the front page.
Stephen K. Bannon
Of the Washington post should be PGMs. The whole grid here, right here. Virginia, Pennsylvania, Ohio, Kentucky was. Blah, blah, blah. 13 states.
James Carville
13 states.
Stephen K. Bannon
He's indicating that by 2026, 2027 delivery year, we will not have enough electricity. That is just what happened in Spain.
James Carville
Right.
Stephen K. Bannon
He's telling everyone that. And he's also saying, okay, because these are mainly deregulated markets, guess what? They have to wait for investors to bid in building new capacity.
James Carville
What?
Stephen K. Bannon
And he's saying there's a 10% chance that what's been bid in would actually occur. Looking at, therefore, the problem's worse than I'm saying. That's basically what he's saying. It's a horrendous. And this is Miso is saying this. Even wec, which includes California, Oregon, they're saying the same thing about their region. This is, this is being articulated by the grid heads.
James Carville
What happened in. What happened really in Spain and how close did it come to shutting down all Europe?
Stephen K. Bannon
Well, Spain's curious. Spain's gone to 66% of its installed base of power generation is now solar about half of that. Wind about half of that. What appears to have happened in southwest Spain the day this happened was a mild temperature day 68 in Madrid, 72 in Barcelona. Could have it backwards. We heard a broadcast about high temperature oscillation in the interior. Like the interior? It's some kind of screwball place. Very. No, there's no interior. Madrid, Barcelona. Good surrogate for countrywide temperatures on April 28, about 70. So no heat. What happened was some heavy cloud activity in parts of Spain, southwest Spain, where they've got a lot of their solar farms. Suddenly within about three minutes, saw a 15,000 megawatt reduction in production of power unexpectedly and rapidly. And that caused in a system that's only 27,000 megawatts, that's a huge problem.
James Carville
It's half. So what's that? You had a 50% drop? Why do they know? Technical problem.
Stephen K. Bannon
Clouds. Cloud cover. Cloud cover. No, Steve, that's what this stuff's about. We're totally dependent on nature.
James Carville
Is this why it's never going to work in a place like Florida or Arizona?
Stephen K. Bannon
This is why it can never work. The most it could work is for 42% of.
James Carville
And you're in your. And you're having the Chinese Communist Party.
Stephen K. Bannon
Make it with labor and they're supplying.
James Carville
Supply of all of it. You're not. It's this is things discussing President Trump's going to lead us out of this as we're going to talk about it. Short commercial break birchgold.com the road to Rio, the Rio reset this. We're going to have an individual from the American Conservative Union going to join us. The great magazine, the American Conservative, is going to join us to talk about trades, tariffs, China, all of it. And also I'm going to talk about the dollar as a weapon. Short break back in my life. You've heard me talk about Patriot Mobile for a while now. You probably know that for years they've stood in the gap for every American who believes in faith, family and freedom. So here's the question, have you switched to Patriot Mobile yet? You'll get exceptional nationwide coverage because unlike most cell phone service providers, Patriot Mobile utilizes all three major US Networks switch today without sacrificing quality or service. They even add two numbers on two networks on one phone. Let me repeat. They can even add two numbers on two networks on one phone. It's like you're carrying two phones in one. They have unlimited data plans, mobile hotspots, international roaming, Internet on the go devices and Internet backup. Switching is easy. Keep your number, keep your phone or upgrade. Their 100% US based team can activate you in minutes. Best of all, switching to Patriot Mobile supports your values. If you believe in our First Amendment and Second Amendment rights, the sanctity of life, supporting our veterans and first responders, this is where you belong right now. Go to patriotmobile.com bannon or call 972-patriot. Get a free month of service with promo code Bannon. So if you call in, tell em Bannon. Also switch today. That's patriotmobile.com Bannon or call 972 Patriot.
Dave Walsh
From all over the world because of President Trump's leadership, are desperate and dying to make trade deals with the United States. We're going to evaluate each of those deals and President Trump is personally involved in making sure that these negotiations serve only one interest, which is the interest of the United States of America. And we'll end up with a deal in these cases where, yes, the other countries obviously will have their own demands and their own interests, but nothing will go into effect that doesn't serve the interests of America and the American people. When you look at the sweep of the first 100 days, every single crisis that has afflicted America for years, sometimes decades, sometimes generations, this president has fought head on. He has taken on every entrenched power structure and system all across this government, this swamp, this town. That includes of course, the Doge efforts to slash corrupt, wasteful government spending, graft and corruption and to stop billions of taxpayer dollars from going to radical left NGOs. These are left wing nonprofits that are used to advance illegal immigration, to advance open borders, to advance gender ideology, and to advance all of this insanity that has been turning our country in the wrong direction for so many years. President Trump took head on the trade crisis afflicting this country with the destruction of our manufacturing and industrial base, the shameful betrayal of the American worker by Joe Biden and the globalists that sent all of our supply chains overseas seas. He took head on the catastrophe of mass unlimited illegal immigration that was turning us into a failed third world state and achieved the lowest level of illegal immigration in recorded history without even a close second. He took on the economic crisis afflicting this country by reopening American energy, by defeating inflation, by lowering gas prices, by ending the onslaught and reversing the onslaught of federal regulation by reopening coal, shale, oil, natural gas, and fighting now for the largest tax cut and reform and the largest deregulation reform and the largest energy reform in American history. These are just some of the things that have ushered in the new golden age. Along with his fight to restore the peace that we had for four years under the previous administration, before Joe Biden sunk this planet into bloodshed and war in the Middle east, in Europe, and rising tensions in Asia, President Trump, in every area of conflict around the globe has been fighting to restore peace, security, stability, harmony. So he inherited an economic catastrophe, a border catastrophe, a public safety catastrophe, and a cultural catastrophe. In every case, he has reversed those catastrophes and brought America into the new golden age. It is a sad reflection on the state of our media and many of the outlets represented in this room that you obsessively try to shill for this Ms. 13 terrorists. Well, no coverage occurred in your papers about any of the Americans that were raped and tortured and murdered by the illegals that Biden was importing into our country. You know, you talk about due process. The Biden administration made the decision right there.
James Carville
Stephen Miller. And here's our love. Stephen, no bedside manner. You're getting it with the bark on right there. But man, remember, he ain't reading a script. He's not looking off a screen. That comes from the heart and the brain because he's worked on this project as a grundoon on Michele Bachmann's staff in the summer of 2013, 2013, I believe it was 2013 is Michele Bachmann and Steve King, and I'm talking two or three people in the house, maybe five total, that held off an amnesty onslaught. That was, you had Sergio, you had Miller, and then later in the Senate with Sessions, beat back all of the Bush effort, all the Republican establishment effort. This, this guy knows it. The first policy staffer ever to go on the Trump campaign in September of 15. I mean, maybe it was December 15, early 16, as really the first as a speechwriter and policy guy, when they had like three or four people on the plane. Cory, you know, Hope and a couple others. Miller knows it. He's now deputy White House chief of staff for policy. He knows these policies. You're getting it right there. The confronting of the crises that's afflicted America, right? That's ripped our greatness away from us. And that's why you've seen what I call this summer now, this phase two, the convergence of these crises are coming together because that's part of the resistance and part of the globalist up here. As you're going to get into this massive, massive, massive piece of legislation, which just understand in the, in these huge bills, they're going to try to screw you every possible way and we're going to make sure that doesn't happen or we're going to go down fighting. Okay. Can't promise ultimate victory, but we're going to give as good as we get. And I think we're going to get victory. So let's, let's get manned up here. One of the most important is about energy is what President Trump has done today. Just heard Miller right there across the board. Is that executive order, is it a start that's going to lead us to a place? Is it, is it a final product? Is where are we going? And particularly is there any. Because this thing kind of gets rolled up in many different types of areas. What concerns me when I look at the trade and Charles from American Service going to join us in a moment is like, what's exempted? Why are these solar. Why is solar still coming in? Why is wind still coming in? Particularly when President Trump to test wind and he ain't a fan of solar thoughts.
Stephen K. Bannon
He's taking a prudent stepwise process of doing what he can do to then set up the predicate for getting at these incentives later legislatively, and if not legislatively, through his proclamation of a national energy emergency.
James Carville
Why do we need legislative right now? He's got it's a national emergency, right? Can't he do everything right now he's a czar. Just saying boom. Can't just come in. Ain't shy about doing it in other.
Stephen K. Bannon
Areas because of the. He's not going to need legislative support. The tariffs were one weapon, but weapon two is. Once Elton finishes with his study of the Obama era endangerment finding that determined CO2 to be the national issue ahead of any other. Any other. Of any kind. Industrial productivity, the welfare of human beings. Any other. That became the issue once he. Once Elton unravels that, and I believe he will with his announced study of that plus Lee went ahead with 32 other regulations.
James Carville
That's essentially saying CO2 is a poison gas.
Stephen K. Bannon
Exactly.
James Carville
It was equivalent mustard gas in World War I. Everything else, maybe worse.
Stephen K. Bannon
Possibly worse.
James Carville
No, no. But everything else in the nation. People, folks, you don't understand how radical these people. Everything else in the nation has to take a back seat until. Because we got to get mustard gas out of the air.
Stephen K. Bannon
Once that's done, once the EPA is done with that study and it takes a couple of months and then it get 60 days of review, he's in a position through the energy emergency, he's announced already the president to peel back these incentives without Congress. He could do it now, but this will make it even.
James Carville
He'll have more of it. He'll have more of an intellectual because this thing is going to. Also, folks, the lobbyists are not on his side here because they're going to see a possibility of making a lot less money.
Stephen K. Bannon
Right?
James Carville
So that's why he needs to have firepower to go back. I mean, this is like you got big energy, you got here big electricity, you've got big pharma, you got big tech. I mean, you had these institutional, you know, structures that are all sitting here with the fat cats making money.
Stephen K. Bannon
It then becomes very hard, harder, nominally harder for Dominion Energy, the Nextera specifically, to name a few, to be proclaiming that CO2 is destroying the planet. Gets a lot harder for them to stay behind that, that banner, which is only a banner of theirs for the last four or five years. They weren't on this page before. They just. They jumped on this four or five years ago as a predicate to make money.
James Carville
Look, all the corporations are by definitions, cowards. They'll all put the DEI stuff in there and try to grind you into the ground. They will run to the progressives when they saw a way. They all came aboard because said, hey, this thing's kind of the way the country's going. This is the way the Elite's going, let's just get on board. There was no pushback from the by people who should have known better, right?
Stephen K. Bannon
Precisely.
James Carville
There was no intellectual, we're doing studies and here it is. They just climbed on board because then they go to the clubs and go hang out and go to the conferences and have have CNBC at the Andrew Ross Sorkin at the Green Energy conference and all these guys up there yammering this nonsense.
Stephen K. Bannon
Even in my home state and in West Palm beach, siemens built a 2000 megawatt combined cycle plant in a few acres of the city of West Palm beach. We built a huge plant, West County Energy Center, Okeechobee, GE units, massive investment by FPNL just in the last seven years commissioning gigantic super efficient combined cycle gas fired power plants in Florida when this was as big an issue in the public sphere. And then guess what, something changed. But two years after commissioning all those plants, oh, we're not going to build any more of these now. No nuclear, none of this. All solar for the next 20 years. So they jump off of a diversified energy mix to now a single only solar and battery storage energy mix for the next 20 years. What changed? Well they formed Nextera. Their holding company is all about solar, wind and battery storage globally. It has driven up their stock price when the pencil heads looked only at this as an avenue of growth and they made a fortune on Wall street and now they're imposing this, this kind of model on Florida to basically ruin reliability and drive costs up, which will.
James Carville
Be energy on the rest of the energy. His program is starting to kick in. Right. And we're seeing energy prices come down. This is a full electricity is over here, but the rest of energy prices are starting to come down. And that rolls through petrochemicals, plastics, everything else in society. Correct.
Stephen K. Bannon
The electricity takes time. It's going to take the gas and oil cost down that we've seen already. From opening up more production, being more open to it, more LNG also being produced. We're going to see electricity prices relax once that gets used to produce more electricity. That takes time to get more plants permitted more combined cycles. And we're seeing that's beginning to happen. There's a huge gas turbine ordering boom underway. Yeah. With the premonition of his being elected, this began last.
James Carville
Those gas turbines going to be made here, are we shipping them in from Germany?
Stephen K. Bannon
Well fortunately 70% of the world's supply of those is made by GE Vernova. Yeah, they're assembled in Greenville. The generators are built and connected.
James Carville
Greenville South Carolina.
Stephen K. Bannon
Yes, sir.
James Carville
Love that. Just down there, the green, those Greenville.
Stephen K. Bannon
Folks probably okay, 65%. 60% US content on those. They're also made here by Siemens.
James Carville
Yeah.
Stephen K. Bannon
And by Mitsubishi here in Savannah.
James Carville
I don't mind that.
Stephen K. Bannon
They're localized. Reasonably localized. There's a boom underway for that that presaged this happening. So this is, this is all. And it's going well. The endangerment finding repealing should kick this into high gear.
James Carville
Walsh is one of these guys like Bensman, we got to use him as much as we can before he losing. I'm going to also mention to Brett, when Walsh shows up, he's got. This is the old Goldman said, You got, you got briefings, you got notes, you got analysis. Walsh comes in, he's bringing the receipts. Brad has gotten a little too, you know, Brad is kind of, he's kind of skimming off the top, playing off that, that tennis pro look. Just kidding. I love my day. Brad. Dave Walsh, incredible. Walsh, hang on. You're gonna be with me for the, for the next hour or so. The. Okay, couple things. Number your exposure of what's happening in Texas and in Florida. On the electric side, people's heads blow up. I get, I get. I want to talk about Texas for a minute. There's more going on down in Texas. They just passed this, this, this Democratic House just passed this bill. I think on memes or something, we're getting to that. If not this morning, this afternoon. This situation in Texas is not acceptable. Texas is the railhead of maga. I'm going to give that tip even more than Florida. And we love ourselves some MAGA in Florida because Texas had an onslaught of about $400 million of source to turn the state blue. Remember that whole thing. O'Rourke, that clown and all that group, it was beaten back by the MAGA base. Trump won in 2024 by 14 points. That's a soul killer. That came from places like South Texas and the Rio Grande Valley and other places like that. Hispanics starting to flip totally to President Trump, the hard work of maga. Now in this House, you've got this thing where the Democrats are running the deal and you've got this situation with this, all these mosques being built down, then these Muslim real estate developments. There's something going on big. We're getting people to the bottom of it. The tip of the spear down there is Patriot Mobile. Is Glenn Story in the same. These are the best folks in the world down there in Tarrant county. And Tarrant county is kind of the railhead of where they've turned this thing around. Make sure. And by the way, you don't need to be sold on. They support your values. The service is unbelievable. This is the best phone service out there because it lays on top of all the different carriers and they've got every type of different possibility. Go to 972 Patriot today. Do this. Do the switch. PatriotMobile.com put in promo code Bannon. You get a big discount. Get the first month free. 972patriot. Talk to a United States citizen that'll guide you through everything. Short break. Dave Walsh riding shotgun this morning, didn't it? Great. Back in a moment. The April 15 tax deadline is coming and it's coming fast. Do you have unfiled tax returns? Can't pay the irs. The IRS is more than aggressive and the more aggressive than ever. And the longer you wait, the worse it gets. Wage garnishments, bank levies, even property seizures are all on the table. You need to get ahead of this. You need to get ahead of it today. But going up against the IRS alone is a big time mistake. Take my advice. Call the experts at Tax Network usa. They know the system. They have an edge. A preferred direct line to the irs. They know which agents to deal with and which ones to avoid. Whether you owe $10,000 or $10,000,000. Their genius strategies are designed to quickly settle your tax problems in your favor. Tax Network USA's attorneys and negotiators have already resolved over $1 billion in tax debt. Let me repeat that. They've already resolved over $1 billion in tax debt. Tax Network USA can help you too, but you need to move. You need to move fast because April 15th is already here. Remember, if you get that letter, don't put it in the drawer. It just metastasizes. Talk with one of our strategist today. It's totally free. Stop looking over your shoulder. Stop the anxiety. Stop the worry. Put it all behind you. Call Tax Network USA at 1-800-958-1000. That's 800-958-1000 or visit tnusa.com Bannon that's Tax Network USA. Go to tnusa.com Bannon here's your host, Stephen K. Banner. Okay, there is a the reason we're going back and forth like this this morning. There's a lot going on here in the Imperial Capital. Stories leaking now from multiple sources. We're gonna have Jack Posoba go at the top of the hour. It looks like potentially a massive restructuring of the National Security Council it's been reported and we're going to get play clips at the top. This is I think been brewing for a while. As you know Laura Loomer went in and top six guys or six of the top guys under Alex Wong were removed. There's all kind of discussions. I'm of the camp. I'm of a big believer of a no scalps policy at least for some interim period of time. Maybe the 100 days was deemed there's going to be that maybe it was untenable. I know that their situation with Persia and with the Houthis and so many different aspects all over the world and the Ukraine situation, all of it. And the president's going to do what he's going to do but we're going to get to the bottom of this of the timing of it. Is it now or is going to be later. So we're going to but a massive story for MAGA and a massive story for the President. United States at least being reported from supposedly high level sources. Is that the National Security Council When I say that it's at least it's being reported by CBS News being reported many different and that's Jennifer Jacobs and she's quite dialed in. And others that both Dave Waltz and Alex Wong the national Security advisor and the deputy are going to leave and maybe leaving imminently. And like I said we're going to run this down. It's one of the reasons I've been not listening to Dave Walsh with one ear. But Dave Walsh, hell you could host the show. This is a lesson for Brett. You come. This is receipts. I mean I feel like I'm Goldman Sachs. I feel like I'm back as associate. I'm getting ready to do my presentation like that. You got. You got your notes scribbled everywhere. Walsh comes to appraisal. My dad, he comes prepared. He's ready to go. You're not gonna. He's only bringing receipts. It's no no. Happy to. He's not a pundit. He's here to deliver it. So much going on so we're gonna get through all it. Liz your is also going to be here. Incredible Committee on President Dana China yesterday did the best rollout for the conclave in the Vatican. Taking the perspective of what the Vatican has agreed to at the Chinese Communist Party and others. Just amazing. Lejeure is going to be with POSO is going to be with us. Dave Walsh is going to be hanging around. Want to go to amazing peace. Charles Benoit joins U.S. coalition for Prosperous America These are original gangsters when it comes, these are OGs when it comes to bringing manufacturing jobs back to the United States. You guys have been fighting on this for a long time. Charles, normally the American conservative is not a place. I think I was going to see an article like yours if we can get it up. You gave 100 day assessment, but it was most detailed look at really where it's no, it's like a Dave Walsh presentation. This is no happy talk. You get down deep into the math. You get deep into where exactly we stand. What's your report card? Give a summary for the audience because we're going to push this article out. I want everybody over the weekend to take your time and read this thing. Where do you think we stand with this and how's the president and his team doing?
Charles Benoit
So saying even 10 out of 10 wouldn't be doing it justice. I was a cynic before President Trump. I thought we were going to have to wait for, you know, World War 3 to ever get this kind of re industrialization drive. America industrialized once and it was after we were cut off from European trade back in the Napoleonic wars that we industrialized once and then we deindustrialized once. And you know it really well. You go back to Jefferson's embargo Act. I, I thought we were going to have to wait for another war. So the fact that the American people voted for a pro tariff president in peacetime and the fact that we're getting this in peacetime, wow, that's so, I mean, just you have to give so much credit to President Trump right off the top for even trying to do what he's doing now.
James Carville
Okay, hang on.
Charles Benoit
If you follow the headlines.
James Carville
Hang on, hang on, hang on, full stop. Because I got Walsh here. Who's, who's my, who's my guru on. We've de. Industrialized on the energy side for this weird cult of greenness. Walk me through. I'm gonna keep you into the next hour. Walk me through. When you say we, we went through a process of de industrialization. Tell the audience specifically what that is and what's the impact been?
Charles Benoit
Yeah, so people like to think we started the industrializing in the 80s. Look, it actually started in 1934. Okay. That is when I call that year zero. That's when Congress handed over the tariff authority to presidents. We've never had a good president on trade until President Trump. So some industries we lost in the 1950s, bicycling, flatware, they were very quick to go. Steel lost huge market share and it's been a slow bleed out ever since World War II, one after another. The global multilateral trading system, the GATT, General Government on tariffs and trade, it has all these little things kind of slow the bleed out. And so we've had all of these little tariff actions over the last 75 years. You know, anti dumping, countervailing duties, that kind of thing. Safeguards buy this factory a few more years. But it's been a steady, slow bleed out. And not just on in manufacturing, agriculture too. We are now a net food importer. That happened under President Biden. So it's a catastrophic situation. And again, hats off to the President for trying to turn the ship around.
James Carville
What is the logic though? What, tell me, what's the industrial logic of why this happens over a period of time? Is because of they're looking for cheap labor, cheap energy sources. Why do we go through a process of deindustrialization? Who benefits?
Charles Benoit
That's an excellent question. And many, you know, the. A lot of the people. Okay, yeah. I have to flag one that a lot people don't pick up on, which is international creditors. So after World War I, we became a net creditor nation. Our Wall street, they lent all this money to Europe to rebuild. It was a real problem. There was not enough dollars, it's hard to imagine nowadays, but there was not enough dollars circulating overseas for US Lenders to get repaid. And it wasn't just banks, but even our largest multinationals. We were the world's factory at the turn of the 20th century. And you know, we are exporting because we make the best stuff. And people have owed us money all over the world. They didn't have dollars to repay. That was a major driver in the 1950s. The Department of Commerce, even the Department of Commerce programs to actively promote imports so that more dollars, dollars would be sent overseas. And those and those, they would then have dollars to repay their U.S. debts. So that was a driving factor. Then also the labor movement. Right. The labor movement really took off in the early 20th century. And that's when you again, you have big manufacturers being like, oh my gosh, well, maybe I should offshore. There was that and then what those were, those were in the early, the first half of the 20th century. I would peg those as the two biggest forces.
James Carville
Charles, Charles. Hank, Hank, hang on one second, hang on. Take a deep breath. You're going to stick around. I got Dave Walsh riding shotgun today. Fantastic on energy. I got the deindustrialization of America and more importantly, what in the hell we're doing about it. As Charles just said, for the first time in the country's history, at least since the 19th century, we got a president not just pro tariff, what that means, that's a code word for bringing back high value added manufacturing jobs to the United States of America and making us a manufacturing hegemon again to return America to her original greatness. Short commercial break the right stuff's going to take us out. You know why? The MAGA movement's got it. President Trump's got it, you've got it. Next in the War Room, what if he had the brightest mind in the War room delivering critical financial research every month? Steve Bannon here. War Room listeners know Jim Rickards. I love this guy. He's our wise man. A former CIA, Pentagon and White House advisor with an unmatched grasp of geopolitics and capital markets, Jim predicted Trump's Electoral College victory exactly 312 to 226, down to the actual number itself. Now he's issuing a dire warning about April 11, a moment that could define Trump's presidency and your financial future. His latest book, MoneyGPT, exposes how AI is setting the stage for financial chaos, bank runs at lightning speeds, algorithm driven crashes and even threats to national security. Right now, War Room members get a free copy of MoneyGPT when they sign up for Strategic Intelligence. This is Jim's flagship financial newsletter, Strategic Intelligence. I read it. You should read it. Time is running out. Go to Rickards War room dot com. That's all one word. Rickards War Rooms Rickards with an S. Go now and claim your free book. That's Rickards war room.com do it today.
Trevor Comstock
Hey War Room. Hope you're all doing well. My name is Trevor Comstock. I'm one of the co creators of Sacred Human and I wanted to share just a little bit more about our brand. For those who may not know of us yet, but about six months ago we decided to launch Sacred Human with really the simple mission being to provide American made natural supplements without all the artificial nonsense. So unfortunately, as many of you know, a lot of these big corporate supplements will include things like preservatives, artificial ingredients and other additives that really aren't benefiting your health. So that's why we created Sacred Human, really trying to fill this gap of quality supplements and of course the beef liver being our flagship products. For those who don't know, beef liver is loaded with highly bioavailable ingredients such as vitamin A, B12, zinc CoQ10, etc. And because it is 100% grass fed and natural. Your body is able to absorb these nutrients far better than taking any other synthetic multivitamin or any other synthetic vitamin in general. So we have some other amazing products, but if you'd like to check us out, you can go to sacredhumanhealth.com and cheers to your health.
Podcast Summary: Bannon's War Room
Episode: 4453: Creating Legislation To Stop The Energy Emergency
Release Date: May 1, 2025
Host: Stephen K. Bannon
Guests: James Carville, Donald Trump, Dave Walsh, Charles Benoit
Donald Trump opens the discussion emphasizing the United States' strong position in global trade. He asserts, “We have over 100 countries...dying to make a deal” and outlines a strategy of imposing tariffs when negotiations falter, stating, “That country is going to pay a 20% tariff” (00:00).
Stephen K. Bannon acknowledges Trump's stance and introduces the focus on creating favorable trade deals for America’s middle and working classes.
James Carville critiques the Democratic approach to taxation, particularly targeting tax cuts for billionaires. He states, “That’s what Trump’s about and that’s killing us” (01:04). Carville argues that previous administrations favored the wealthy, abandoning the working class, and praises Trump’s efforts to reverse these policies.
He further discusses the historical context of globalization, attributing the deindustrialization of America to policies initiated by Bush 41 and Clinton, stating, “That’s why both parties are responsible for this” (01:57).
Stephen K. Bannon introduces the core topic: the national energy emergency. He highlights the impending power shortages, citing the NERC National Electoral Liability Council’s findings: “We have about 40% of our population...exposed to under, under normal, above normal weather conditions” (08:20).
James Carville elaborates on the energy crisis, comparing it to Germany’s situation and attributing it to the over-adoption of intermittent power sources and the premature shutdown of nuclear, coal, and gas plants. He criticizes reliance on Chinese-manufactured components funded by American tax subsidies, calling it “insane” (09:05).
The discussion shifts to the broader implications of energy policies on American manufacturing. James Carville explains how deregulation and the shift to renewable energy have undermined the industrial base: “They shut down these resources way in advance...under reserve margins should be to deal with a peak hot day or a peak cold day” (09:36).
Stephen K. Bannon echoes these concerns, emphasizing the historical significance of electricity in industrial dominance and the unprecedented nature of current power shortages (11:53).
Stephen K. Bannon outlines President Trump’s executive order on the national energy emergency, detailing the systemic issues caused by regulatory capture and the influence of lobbyists. He states, “We’re in for the deconstruction of the administrative state and for deregulation” (12:23).
James Carville underscores the economic fallout, noting higher energy costs and reliance on foreign-manufactured renewable components. He criticizes the current administration’s approach, calling it a “self-inflicted wound” (12:23).
Stephen K. Bannon addresses rumors of a major restructuring within the National Security Council, indicating potential high-level departures. He mentions, “Stories leaking now from multiple sources...massive restructuring of the National Security Council” (28:48).
James Carville and Charles Benoit discuss the implications of such changes, with Benoit reflecting on historical deindustrialization and praising Trump’s efforts to rejuvenate American manufacturing (49:32).
Charles Benoit provides a historical overview of America’s deindustrialization, tracing it back to the 1934 tariff authority shift and subsequent policies favoring globalization. He attributes the steady decline of manufacturing and the rise of net food importation to decades of misguided trade policies (51:16).
James Carville probes the logic behind deindustrialization, questioning the beneficiaries and the underlying economic motivations. Benoit responds by highlighting the role of international creditors and the labor movement in driving offshoring (52:30).
The conversation returns to the legislative efforts to address the energy emergency. Stephen K. Bannon discusses the challenges of dismantling outdated regulatory frameworks and the resistance from established industries. He emphasizes the need for a strategic approach to rollback incentives for renewable energy that undermine energy reliability (35:38).
James Carville underscores the necessity of legislative action to support Trump’s agenda, expressing confidence in the administration’s ability to navigate the complexities of the energy crisis (37:14).
As the episode progresses, the hosts anticipate further discussions on the National Security Council restructuring and its impact on global stability. Stephen K. Bannon teases upcoming segments featuring experts on trade, tariffs, and the strategic use of the dollar as a geopolitical tool.
Charles Benoit praises Trump’s proactive stance on reviving American manufacturing, likening it to historical industrial renaissances triggered by national crises (49:32).
Advertisements for Birch Gold, Patriot Mobile, Tax Network USA, and other sponsors are present but have been excluded from this summary as per instructions.
Notable Quotes:
Donald Trump (00:00): “We have over 100 countries that are calling us...we're just going to set the deals.”
James Carville (01:04): “That’s what Trump’s about and that’s killing us.”
Stephen K. Bannon (08:20): “We have about 40% of our population...exposed to under, under normal, above normal weather conditions.”
James Carville (09:05): “This is mass extraordinary. Massive extraordinary.”
Charles Benoit (51:16): “After World War I, we became a net creditor nation...Congress handed over the tariff authority to presidents.”
Episode 4453 of Bannon's War Room delves deep into the intertwined crises of energy shortages and deindustrialization facing the United States. Through the insights of guests like James Carville and Charles Benoit, the discussion underscores the urgent need for legislative action to reverse decades-long policies that have weakened America’s industrial and energy sectors. Stephen K. Bannon and Donald Trump present a vision of revitalizing American manufacturing and securing energy independence, positioning these efforts as pivotal to restoring national greatness and economic stability.