Day: October 13, 2023

Of course, the big story is the barbaric Hamas attack on Israel, killing innocent people in Gaza, beheading children, murdering grannies in bed. Taking Israeli and American hostages, and at last count killing 1,799 Palestinians, 1,300 Israelis, 27 Americans and there are still 14 Americans unaccounted for. President Biden gave a speech calling the attack evil and pledging to stand with Israel but made no mention of Iran. 

Speaking of Iran, the Wall Street Journal editorial today referred to Iran as the ventriloquist for Hamas. Spot-on there. We have learned that after the Afghanistan pullout catastrophe by the Biden administration, Hamas started a two-year planning process to attack Gaza, and one of the top Hamas spokespeople noted clearly that none of this could have been done without the financing and planning capabilities of Iran. 

Then Treasury Secretary Janet Yellen came out and claimed there’s been no relaxation of the Iranian sanctions mandated by U.S. congressional law, but she had no explanation for the facts that Iranian oil revenues have jumped from almost nothing three years ago to somewhere north of $60 billion today; oil export sales to China have increased from roughly $7 billion to over $30 billion in two years and Iranian foreign exchange reserves somehow sky-rocketed from roughly $4 billion to something like $70 billion. We’re still waiting for further explanations from Madam Secretary. 

The Israeli air force began its counter-attack against Hamas with special operations spotters on the ground to assist in the precision bombing. Israeli defense forces began infiltrating Gaza to scope out hostages and outline their strategy. As of this reporting, IDF ground forces have begun the campaign in Gaza city with perhaps 300,000 troops or even more to complete the mission. 

IRAN’S $6B IN UNFROZEN FUNDS: WHAT TO KNOW

What’s the mission here? Take a listen to the brilliant Gen. Jack Keane on this show last night: 

RET. GEN. JACK KEANE: And, Larry, I mean, we got to be upfront about what needs to be done here. We need to kill them. That’s the only thing that stops these guys. They are absolutely committed to this barbarism and we got to go in and kill them, just like we did with ISIS, just like we did with the al-Qaeda.

Gen. Keane, a great warrior himself, is spot-on right, and I don’t understand why I’m watching so many hosts and guests on TV with their continued hand-wringing that casualties will be suffered. This is war. Israel didn’t start this war. Iran-backed Hamas started this war. They wanted to wipe Israel off the face of the map. They also want to wipe America off the face of the map.

Israel, the only democracy in the region, America’s greatest ally — Israel and America have to fight back to defend their freedom and their very existence. That is war, but of course, our nation’s elite universities don’t understand any of this, and they’re all coming out in favor of Hamas, which is the most bizarre cultural political development with a strong dose of antisemitism that’s been brewing for three decades from the battles of the insane far-left. With some exceptions, most of the university presidents refuse to stand up and fight against antisemitism and in favor of freedom and democracy. Pathetic. Fortunately, some business people and even finally some students have revolted against the crazies. 

Meanwhile, all my friends in the House Republican conference have not distinguished themselves this week because they can’t settle on a new speaker. Steve Scalise won a vote but couldn’t sustain it. Jim Jordan, another distinguished conservative, can’t seem to put it together. Kevin McCarthy doesn’t want to go through it again. 

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New names are appearing. The conference is meeting around the clock, but seems to be spending most of its time getting in touch with its feelings rather than voting in a new speaker. Personally, I love 12-step meetings, but the GOP needs a speaker ASAP. Then on more mundane matters, two important inflation reports came in stronger than expected, guaranteeing that high interest rates are going to stay high or even move higher in the period ahead. Consumer confidence fell and inflation expectations rose. Mortgage rates are closing in on 8%. 

Ten-year treasuries heading toward 5%. Stocks have survived, and thus far no oil blow-up in the Middle East. We’ll talk about that later in the show with Mr. Wonderful, Kevin O’Leary. So, there are threats to freedom and democracy everywhere, at home and abroad, but I still don’t believe that America is in decline. I think the Washington, D.C., swamp is in decline and we can and will save America. That’s my riff. 

This article is adapted from Larry Kudlow’s opening commentary on the October 13, 2023, edition of “Kudlow.” 

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A group of gas and construction trade groups filed a federal lawsuit Thursday challenging the legality of New York’s ban on gas stoves and furnaces in new residential buildings in a move to challenge Democratic Gov. Kathy Hochul’s push for green energy.

The case was filed by the National Association of Home Builders and the National Propane Gas Association, among others and names the New York Department of State as a defendant on the lawsuit.

The lawsuit alleges that New York does not have the legal ability to enforce the gas stove ban because a preexisting federal law, called the Energy Policy and Conservation Act (EPCA) of 1975, already regulates energy use policies.

“EPCA reflects Congress’s decision that the nation’s energy policy cannot be dictated by state and local governments,” the lawsuit says. “Such a patchwork approach would be the antithesis of a national energy policy.”

The builder and propane associations are asking a federal judge to rule that the state’s ban is unenforceable under federal law and for it to be blocked before it takes effect in 2026.

NEW YORK TO BAN GAS STOVES AND HEATING SYSTEMS IN NEW CONSTRUCTION, BEGINNING IN 2026

In April, New York state leaders led by Hochul reached an agreement to ban natural gas hookups in small buildings beginning in 2026 and large buildings beginning in 2028.

“Everyone knows we’ve seen the effects of climate change — the storms, the hurricanes coming to New York, record snow amounts. We’re seeing the effects every single day. Not just here, but across the nation,” Hochul said when passing the ban. “Our budget prioritizes nation-leading climate action that meets this moment with ambition and the commitment it demands.”

“We’re going to be the first state in the nation to advance zero-emission new homes and buildings beginning in 2025 for small buildings, 2028 for large buildings,” she continued. “And we have more to do.”

The state’s law contains exemptions for emergency backup power equipment and for commercial food establishments, laboratories and car washes.

GAS STOVES: CPSC ASKS FOR PUBLIC INPUT ON HEALTH IMPACT

Similar policies have been approved by Democrat-controlled cities and local governments as supporters say they are aiming to reduce greenhouse gas emissions and improve indoor air quality.

Berkeley, California, became the first jurisdiction to implement such a ban in 2019. However, a federal appeals panel recently ruled that the city’s ban violated the EPCA law in a potential blow to similar laws across the country. 

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The Berkeley gas ban drew national attention with the American Gas Association and Air Conditioning, Heating, and Refrigeration Institute, environmental groups, and other jurisdictions across the country voicing their support for the ban.

The New York Department of State declined to comment, citing “pending litigation.”

Hochul’s office did not immediately respond to Fox Business’ request for comment.

Fox News Digital’s Thomas Catenacci and the Associated Press contributed to this report.

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