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