Author Topic: Politico: Oops! Experts (and Us) Wrong on Higher Gas Prices  (Read 296 times)

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Offline pjcomix

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Politico: Oops! Experts (and Us) Wrong on Higher Gas Prices
« on: Wednesday, Jul 01, 2026 12:12 pm »
Quote
Ooops! What we predicted about higher gas prices a couple of months ago... Never mind!

On April 28, Politico White House reporter Scott Waldman along with his sidekick, Eli Stokols, were confidently citing experts who predicted a big surge in gasoline prices due to the Iran war as you can see in "‘There’s a day of reckoning coming’: Energy experts expect another spike at the pump."

https://newsbusters.org/blogs/business/pj-gladnick/2026/07/01/politico-oops-experts-and-us-wrong-higher-gas-prices
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Offline DefiantMassRINO

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Re: Politico: Oops! Experts (and Us) Wrong on Higher Gas Prices
« Reply #1 on: Wednesday, Jul 01, 2026 12:29 pm »
Free Market Economics works its magic ... Demand Destruction and Supply Chain Adjustments.
"Political correctness is a doctrine fostered by a delusional, illogical minority, and rabidly promoted by an unscrupulous mainstream media, which holds forth the proposition that it’s entirely possible to pick up a turd by the clean end." - Alan Simpson, Frontline Video Interview

Offline IsailedawayfromFR

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Re: Politico: Oops! Experts (and Us) Wrong on Higher Gas Prices
« Reply #2 on: Wednesday, Jul 01, 2026 03:03 pm »
The price effect was softened by the impact of Venezuela crude coming into the US at high rates/

Am still confident that prices will rise some as inventories are restocked after being almost depleted.

“You will never understand bureaucracies until you understand that for bureaucrats procedure is everything and outcomes are nothing.” Thomas Sowell

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Re: Politico: Oops! Experts (and Us) Wrong on Higher Gas Prices
« Reply #3 on: Wednesday, Jul 01, 2026 03:43 pm »
Meanwhile, the price of Brent insists on staying under $70 per bbl.  Son of a bitch.
I don’t owe tolerance to people who disagree with my existence.
I will NOT comply.
 
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Online Smokin Joe

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Re: Politico: Oops! Experts (and Us) Wrong on Higher Gas Prices
« Reply #4 on: Wednesday, Jul 01, 2026 03:49 pm »
Meanwhile, the price of Brent insists on staying under $70 per bbl.  Son of a bitch.
They whine when it goes up, they snivel when it goes down. Just no pleasing some folks. No matter to me, I'm out of the drilling end of things now.
How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

C S Lewis

Offline Idiot

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Re: Politico: Oops! Experts (and Us) Wrong on Higher Gas Prices
« Reply #5 on: Wednesday, Jul 01, 2026 05:34 pm »
They whine when it goes up, they snivel when it goes down. Just no pleasing some folks. No matter to me, I'm out of the drilling end of things now.
Did you retire? 

Online Smokin Joe

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Re: Politico: Oops! Experts (and Us) Wrong on Higher Gas Prices
« Reply #6 on: Wednesday, Jul 01, 2026 05:36 pm »
Did you retire?
Not quite. Just changed jobs.
How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

C S Lewis

Offline Idiot

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Re: Politico: Oops! Experts (and Us) Wrong on Higher Gas Prices
« Reply #7 on: Wednesday, Jul 01, 2026 06:15 pm »
Not quite. Just changed jobs.
I wish you much success!

Online Smokin Joe

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Re: Politico: Oops! Experts (and Us) Wrong on Higher Gas Prices
« Reply #8 on: Wednesday, Jul 01, 2026 06:19 pm »
I wish you much success!
Thank you! I'm working at it. It's a new part of the oilfield for me, and there's plenty to learn about what happened after we moved the drilling rigs off. I can't tell you how much I am enjoying that!
How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

C S Lewis

Offline IsailedawayfromFR

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Re: Politico: Oops! Experts (and Us) Wrong on Higher Gas Prices
« Reply #9 on: Wednesday, Jul 01, 2026 06:36 pm »
Thank you! I'm working at it. It's a new part of the oilfield for me, and there's plenty to learn about what happened after we moved the drilling rigs off. I can't tell you how much I am enjoying that!
Your experience remains in big demand.

My last 20 years working with geologists showed me most believed that they didn't need to visit a rig to be successful.

Those youngun's will need your experience for certain to understand what they don't know.
@Smokin Joe
« Last Edit: Wednesday, Jul 01, 2026 06:38 pm by IsailedawayfromFR »
“You will never understand bureaucracies until you understand that for bureaucrats procedure is everything and outcomes are nothing.” Thomas Sowell

Online Smokin Joe

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Re: Politico: Oops! Experts (and Us) Wrong on Higher Gas Prices
« Reply #10 on: Wednesday, Jul 01, 2026 06:39 pm »
Your experience remains in big demand.

My last 20 years working with geologists showed me most believed that they didn't need to visit a rig to be successful.

Those youngun's will need your experience for certain to understand what they don't know.
Thanks. I run into old hands and we talk of days working worm's corner on kelly rigs, watching out when the chain hand threw chain so we didn't get wrapped up in it and are continuously amazed at how much has changed, and how much hasn't.
How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

C S Lewis

Offline Idiot

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Re: Politico: Oops! Experts (and Us) Wrong on Higher Gas Prices
« Reply #11 on: Thursday, Jul 02, 2026 09:58 am »
Thanks. I run into old hands and we talk of days working worm's corner on kelly rigs, watching out when the chain hand threw chain so we didn't get wrapped up in it and are continuously amazed at how much has changed, and how much hasn't.
You likely work on triples with a better class of people than I do.  We tend to use singles and doubles, with rig hands right out of prison or treatment and some that are probably still using.  When I started back in 1985 we didn't have much drug use, but plenty of alcohol.  I could follow the beer cans to town on some rigs.  Now it's amazing the meth use.  Years ago I was visiting with a rig hand about his former cocaine use and his comment has always stuck with me.  He said he thought about cocaine every minute of every day.

Again...congratulations on the new job and I have no doubt you'll do a tremendous job. 

Online Smokin Joe

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Re: Politico: Oops! Experts (and Us) Wrong on Higher Gas Prices
« Reply #12 on: Thursday, Jul 02, 2026 08:25 pm »
You likely work on triples with a better class of people than I do.  We tend to use singles and doubles, with rig hands right out of prison or treatment and some that are probably still using.  When I started back in 1985 we didn't have much drug use, but plenty of alcohol.  I could follow the beer cans to town on some rigs.  Now it's amazing the meth use.  Years ago I was visiting with a rig hand about his former cocaine use and his comment has always stuck with me.  He said he thought about cocaine every minute of every day.

Again...congratulations on the new job and I have no doubt you'll do a tremendous job.
I have worked eight different states, but mostly North Dakota and Montana, and mostly on triples, although I have worked on a couple of double rigs and one converted workover we used to drill short throw short radius laterals back in the 90s. Those went out a window cut in production casing in an older field at first (Tioga Madison Unit) and later were drilled out of a fresh hole cut to just below the Base of the Last Charles Salt and cased by a bigger rig. We were doing a lot of experimenting in those days, but for the task, the rig was good.

Overall, though, most all of the hands up here have been held to a no alcohol on location, no drug, pre-employment/post accident/random drug test policy, and it has improved safety records, cut down on drama and trainwrecks, and generally increased the level of professionalism from back when I broke out ('79, when alcohol was seen as the big problem).
 I feel for you if there are still problems out there.
I recall hearing that some of the west coast hands had switched from recreational weed on days off (which would not clear out of their system for 30 days) to coke because it would be gone with the weekend, but the results of that were pretty bad. One guy I knew even had the motorcycle club he rode with pull his colors because he'd gone so far downhill. What a waste.
Sad, because before getting wrapped up in that, he was one hell of a hand. It seemed the ones who wanted to be supermen were most prone to that, not having (or not recognizing) the natural ability to just keep going for 24-36 hours. Casing crews were especially prone to something that would keep them awake and going just a few more hours, and that's how meth made its inroads. I've seen guys lose six figure jobs over it. Pity.
Encourage the ones out of rehab to stick with staying clean, they likely need it. I've been spared that (quit drinking in '89, and it wasn't that hard for me compared to some), but have relatives who have fought their way out of that spiritual sump, and they need all the encouragement they can get. It doesn't have to be the end of them. A bit of bad road or a wrong turn need not define the journey.
In the meantime, the rest of us keep it rotating to the right.
How God must weep at humans' folly! Stand fast! God knows what he is doing!
Seventeen Techniques for Truth Suppression

Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

C S Lewis