Larry Summers

Clinton’s Treasury Secretary says Recession is Coming

Bill Clinton-era Treasury Secretary Larry Summers warned that recession will likely occur in the next two years. One America’s Cynthia Kaui has more.

An undated photo provided by the Department of Energy shows crude oil pipes at the Bryan Mound site near Freeport, Texas. President Joe Biden is dipping again into the nation’s petroleum stockpile to try to corral rising energy prices.The White House announced Thursday, March 31, 2022, that Biden ordered the release of 1 million barrels of oil per day from the strategic petroleum reserve for the next six months.(Department of Energy via AP)

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Biden admin. could make profit while selling reserve oil, says former Treasury Secy.

Former Treasury Secretary Larry Summers said Joe Biden’s verbal attacks on oil companies are not helpful in curbing high gas prices. In a recent interview, he criticized Biden’s plan to sell oil from the Strategic Petroleum Reserve.