Speaker 1: Bloomberg Audio Studios, Podcasts, radio news, single best Idea.
Speaker 2: What an eclectic day of conversations. Thank you so much
Speaker 2: for the feedback as well, particularly thank you for the
Speaker 2: feedback that I wasn't wearing a bow tie today. I
Speaker 2: wasn't because a dog pit me and I had my
Speaker 2: thumb and I literally couldn't tie the bow tie with
Speaker 2: a band aid on the thumb. But you know, we'll
Speaker 2: do that tomorrow. We'll get better here in the next
Speaker 2: couple of days. What a difficult choice to give you
Speaker 2: two featured comments Mike Mayo with us on Banks on fire,
Speaker 2: about city group turning to a positive any number of
Speaker 2: other guesse Gina Martin Adams I thought was really quite strong.
Speaker 2: Robert Schiffman suddenly we literally on a moment's notice, got
Speaker 2: him brilliant. On Apple's cash and then you supprect their
Speaker 2: debt and that's net cash. It was really interesting to
Speaker 2: see that, given the continued free cash flow that Apple
Speaker 2: has on all that's going on in Europe, there's no
Speaker 2: one better than Stephanie Baker punishing Putin as her book.
Speaker 2: It's a huge response, particularly in her London, in her Europe.
Speaker 2: Here is Stephanie Baker on the moment at hand.
Speaker 3: It's a real worry. You know. The Biden administration's policy
Speaker 3: towards Russia, isolating Russia, imposing harsh sanctions on Russia, had
Speaker 3: its flaws. But at this point, you know, right before
Speaker 3: Trump came into office, the sanctions were finally beginning to bite.
Speaker 3: And it appears that Trump is about to give Putin
Speaker 3: sanctions relief and get him out of a bind, because
Speaker 3: I think Putin really would like some sanctions relief to
Speaker 3: regroup and rearm to take another bite at Ukraine a
Speaker 3: few years down the line.
Speaker 2: Stephanie Baker, I can't say enough about the book Punishing Putin.
Speaker 2: We had Angela Stenhon, I believe a week ago, two
Speaker 2: weeks ago, were there wonderful book, My book of the
Speaker 2: year a few years ago Putin's World in Stephanie Baker
Speaker 2: follows on with the book, particularly about economic sanctions, which
Speaker 2: brings you to oil is a weapon. What an honor
Speaker 2: today to have an extended conversation with Edward Morse, of
Speaker 2: course forever the consul and foreign relations is public service
Speaker 2: in both the Reagan and Carter administrations. Ed Morse Iconic
Speaker 2: City Group and now at Hartree Partners, Edward Morse on oil.
Speaker 2: Is it a weapon for America?
Speaker 4: It cannot be weaponized other than the degree to which
Speaker 4: you can put sanctions on a country. I don't know
Speaker 4: what weaponizing it means. I don't know what we're going
Speaker 4: to pursue. Energy dominance means. I know what it means
Speaker 4: as a soft, powerful instrument of policy. And let me
Speaker 4: give you an example. We have become the largest exporter
Speaker 4: of energy in the world, the largest exporter of LNG.
Speaker 4: That LNG export growth enabled the United States to replace
Speaker 4: every drop of Russian energy, but particularly natural gas going
Speaker 4: into Europe, and it did so at a time when
Speaker 4: it was able to globalize a gas market that had
Speaker 4: not been globalized. We have made oil because we don't
Speaker 4: allow destination restrictions. We've enabled natural gas to be global
Speaker 4: and the price of it is based at Henry Hubb
Speaker 4: in the United States. That's kind of soft diplomacy. We
Speaker 4: have an ability to expand LNG globally, but it's a
Speaker 4: soft ability. We have an ability to say multilateral lending
Speaker 4: institutions ought to be pushing natural gas, they ought to
Speaker 4: be backstopping Regasification is cleaner than coal is helpful to
Speaker 4: the global economy. But that's soft diplomacy. It's not using
Speaker 4: it as a weapon.
Speaker 2: Ed Morris, Hertery partners and your community across the nation,
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Speaker 2: Tyler Kendall of Washington. She's on watch for President Trump's
Speaker 2: speech in Miami. We thank her for her report today
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