Robert Nardelli, former CEO of Home Deport and Chrysler, said Friday on Fox News Radio’s Brian Kilmeade Show that President Joe Biden decided to “surrender” the United States’ energy independence immediately upon taking office.
A partial transcript is as follows:
BRIAN KILMEADE: What are you seeing from the White House?
ROBERT NARDELLI: I recall Brian Deese from my days at Chrysler. He was part of the car czar organization. There’s a lot of bantering, a lot of words going around. The thing I learned over 50 years is it’s all about execution. I certainly don’t see that happening.
This administration decided on day one to surrender our energy independence and make us vulnerable and more dependent on supply from Saudi Arabia and other countries that we kind of held at arm’s length, because of some of their political issues and humanitarian issues. But I think supply chain, on a broader scale, is inseparably linked to inflation. And again, I heard what Brian said about prices coming down.
I just spent an hour this morning with one of our portfolio companies. Again, I deal with Fortune 500 mid-caps and we’re seeing 20% increases regularly. I was in L.A. last week and I saw a 4% price increase for a health and happiness charge for the restaurant. I don’t see this going down at all. Price increases are almost like COVID, it’s spreading like crazy and everybody is rushing to increase prices because they think the door might close as we get into a further decline in the second half of this year.