People have been asking, “Are we in a recession?” Or, “When are we going into recession?” Here’s my answer.

If President Biden were to succeed with his woke, climate-first, fossil fuel-free progressive agenda, he would put the American economy into a permanent recession. That’s right. 

In Japan the other day, he gleefully talked about an incredible transition away from fossil fuels. He’s more than pleased to see skyrocketing gasoline prices. That’s when he made his “incredible transition” remark, and then he said, “God willing, when it’s over we’ll be stronger, and the world will be stronger.”

My response is: If Mr. Biden’s dream ever came true, then, God willing, maybe we’d still have an economy. Because we will never have a healthy economy without fossil fuels. Full stop. 

I mean, these radical progressive greenies have never explained what is going to replace fossil fuels. Seventy percent of the electricity in this country comes from fossil fuels. It will not be replaced by unreliable wind turbines, or solar. 

It could be partly replaced by nuclear power, but the radical greenies are completely hypocritical about this, always opposing nuclear power. I’m all for electric cars, but it will take fossil fuels to build them. It will take fossil fuels to mine for the resources. 

What these radical progressives never take into account is the idea of technological advances and innovations that make fossil fuels — especially nat gas and LNG — cleaner and cleaner. 

Technology has made our air and water the cleanest of all the big countries in the world. That’s why there’s no emergency. That’s why there’s no immediate existential climate threat. A former EPA commissioner, Scott Pruitt, tells us about the tremendous advances in carbon capture and storage that will make fossil fuels cleaner and cleaner. Bjorn Lomborg has repeatedly told us how important it is to preserve long-term growth, which produces innovations and technology breakthroughs and avoids crippling financial costs imposed on typical working families. 

Mr. Biden doesn’t give one whit about middle class people. Somebody just told him that higher gasoline prices will make renewables more attractive. That kind of single entry bookkeeping is why his progressive presidency is such a failure.

Then there’s the absolute baloney sold by the climate tsar, John Kerry, at the rich man’s socialist gathering called Davos. 

Rich people, like the Disney kids, moaning for higher taxes. Well, sure: You already have money and you’ve already wrecked your amusement park with your woke social opinion. and if you want to pay more in taxes, go ahead, write a check to the IRS. Feel free to do so. Be my guest. But don’t punish the rest of us. 

Meanwhile, Mr. Kerry’s selling all the harm from climate-induced hurricanes, floods, and natural disasters. Trouble is, in the last 100 years, fatalities from natural disasters have fallen 99 percent. More climate baloney. 

Then, my new favorite story is this poor truth-telling banker who gets up in front of a fancy conference of investors and tells everyone not to worry about any financial climate risk, saying “unsubstantiated, shrill, partisan, self-serving, apocalyptic warnings are always wrong.” 

The guy’s completely right. But after a political uproar, his CEO suspended him from the bank pending an investigation. And I thought we got rid of the “disinformation board.” Well, not at HSBC we didn’t. 

Here’s a final thought on this. The NY Fed did a study last year, “How bad are weather disasters for banks?” The answer, according to Rupert Darwall of the Real Clear Foundation, is, “Not very — insignificant, or small impact. He goes on to note that “the use of climate risk to push financing flows to net-zero (meaning not fossil fuel companies) has caused painfully high oil and gas prices, hurting consumers and businesses, and pushing up the cost of food.” That’s what woke bankers are doing.

Because of woke regulators like the SEC and the Federal Reserve, because of a woke president who has no idea how to save America. But you know what? The cavalry’s coming.  

From Mr. Kudlow’s broadcast on Fox Business News.