Russia's war in Ukraine is not the only reason energy prices are skyrocketing worldwide. "This is by design," Glenn argues, and the fault of elites around the world who think they know better than the rest of us. As they play a green energy version of "Game of Thrones," Glenn warns, "winter is coming" for the rest of us.
Below is a rush transcript that may contain errors
GLENN: This is by design.
This is the largest transfer of wealth ever. And it's not going to the little guy.
It is going to the big guys.
This is a massive change in the entire western world. It is -- it is happening.
I -- I want you to know that what is happening with our fuel -- if you're going to pump the gas, you've seen that our fuel price is down.
However, that's just because we're draining the oil from our strategic reserves.
We are sitting here at a time, for the first time in -- since I was in high school. Are we worried about possible nuclear war?
And yet, we are draining our entire strategic oil reserve.
We have auctioned off another 10 million barrels, and we're delivering the oil from November 1st, through November 30th.
So we're bringing this -- we're releasing all of this to our own detriment. And why are we doing it?
We're only doing it, because the election is here.
And if -- if it does continue, into December and January, that then is just putting us behind the eight ball, God forbid something happens. This is immoral, what's going on. In Europe, what a surprise. They -- the EU has now proposed a supply chain emergency powers act.
Whenever a government asks for emergency powers, be aware.
The companies now in Europe, are going to be made to prioritize production of key products and stockpiled goods, under draft EU rules, that would give Brussels emergency power to tackle supply chain crisis.
Is your solution more government?
If your solution is more government, and more emergency powers, then by definition, you are on the fascistic side.
If you believe in the free market, if you believe in the average person, and reducing the burden on the average person, from a federal government, then you are not on the fascistic side.
They're saying, listen to this. We need new tools that allow us to act fast, and collectively. At whatever kind of risk we might face.
Hmm. Okay. That's good. Sure. Now, what's happening?
Because of not the war. But because of the Paris accords, France and all of Europe started going to green energy. Renewable energy. It is not stable, nor can it produce the amount of energy that is needed. Then you add one crisis on top. One.
You don't have a secure life if you are only based on one -- one source. If you only have -- there's no backup for your entire life. You're in trouble. You're in real, real trouble.
Right now, they are shutting factories down. And they're shutting these factories down, because they can't afford the fuel to keep them running.
And there's a great story from Yahoo finance today. Firewood is the new gold. The new gold.
Right now, countries in Europe are facing a very, very cold winter. The possibility of no energy, so people -- theft and firewood are the two biggest things right now. People are -- people are being broken into. Their houses are being broken into. People are stealing whatever they can.
And people who are trying to survive, are just holding on to firewood.
The energy prices in Europe, have climbed as much as 1,000 percent. 1,000 percent.
Now, if the people in charge of the EU actually cared, they would see what a disaster the Paris accords have been, and they would back away.
But they're not. Right now, as they're asking for emergency powers, the EU is upgrading its commitment to the Paris Agreement climate target. So they're saying, we're going to reach it even faster than promised.
What does this mean for us? Why are you paying for -- why are you paying the price you're paying at the gas pump?
We have more oil than Saudi Arabia. Why are you about to pay what you're going to pay, for heat, if you have gas heat? Why?
Why are you paying so much for natural gas or LP? Why?
We have more natural gas and LP than -- than anybody, than anybody.
We can put more natural gas into a tank, and put it at your house, or run a line to your house, than anybody else.
Why are you paying for more? Natural gas prices have doubled, just this year.
The price now for fuel and for an hour of power at your house, is up 124 percent. In New England, up 96 percent.
Why? Because the elites feel that their solution is the right solution. The problem is, the elites!
The people who think they know better than you. I don't think I or anyone else knows better than you, for what you are facing. What is happening in Europe this winter, will be here next winter. Winter is coming.
And we now have politicians all over the world, that are just playing Game of Thrones. That's it. That's what this is all about.