"If he keeps true to his promise": When Shark Tank's Kevin O'Leary talked about the President's potential impact on energy costs and inflation

Shark Tank investor Kevin O'Leary spoke to Fox News on November 7, 2024, and discussed the key role that energy prices play in the broader economic landscape. Speaking about his take on what the President could do to impact energy costs and inflation, O'Leary hinted at the possibility of "a power crisis."

"There is lower input costs of energy every single sector of the American economy uses energy. If he keeps true to his promise, not just oil but natural gas, we have a power crisis," the entrepreneur said.

He also noted that by taking up the energy prices issue, the administration would take a critical step in addressing the inflationary trend and in developing economic stability.

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Shark Tank investor Kevin O'Leary's insights on energy costs and inflation

The Shark Tank star emphasized that energy costs are a significant factor affecting various sectors of the economy. He noted that "every single business" was more for power calling it "inflationary."

The increased cost of energy may translate to more operating costs for firms, which are transferred to the consumers through increased prices for products and services. This can fuel overall inflation, eroding the consumer's purchasing power. In discussing the potential for policy changes, O'Leary mentioned the importance of reducing energy costs.

"If he does this and he drops the price of energy down, this will immediately have an impact on the American economy," he noted.

The investor said that by lowering energy prices, the administration could alleviate some of the financial pressures faced by businesses and consumers alike. This could lead to a more stable economic environment, fostering growth and investment. The Shark Tank investor also pointed to the interconnection between energy prices and inflation.

He indicated that the current energy landscape is strained. Addressing this crisis through effective policy measures could be crucial for stabilizing the economy and mitigating inflationary pressures.

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Potential policy changes and their impact

During the interview, O'Leary discussed specific actions the President could take to influence energy prices. He expressed hope that the administration would consider lifting regulations that currently restrict energy production. The Shark Tank investor stated,

"I hope he considers reopening the Anwar Narrative because that can reduce national debt."

By increasing domestic energy production, the government could potentially lower energy costs, which would have a ripple effect throughout the economy. O'Leary also highlighted the importance of market anticipation in the energy sector. He explained that the energy market anticipated supply by around 90 days to four months.

This means that any positive changes in energy policy could lead to immediate reactions in the market, potentially driving down prices. He expressed optimism that the administration could execute these changes quickly. The potential for regulatory changes to impact energy prices was a key focus of O'Leary's comments.

The Shark Tank investor mentioned that lifting restrictions could lead to a decrease in gasoline prices.

"When they see it coming, the forwards markets will drop the price of gasoline," he noted.

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The broader economic implications

O'Leary's insights into the relationship between energy costs and inflation highlight the broader economic implications of energy policy.

"I'm very excited about this energy park because he can actually implement that he can execute on that almost immediately," he said.

The potential for swift action in the energy sector could lead to significant changes in the economic landscape. The impact of energy costs extends beyond just fuel prices. The Shark Tank investor pointed out that as businesses face higher energy costs, they may increase prices for their products and services, contributing to inflation in various sectors.

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