During the White House press briefing yesterday, the administration sent Jared Bernstein to the podium to discuss a recent drop in gasoline prices. Bernstein was claiming that Joe Biden had lowered gasoline prices when journalist James Rosen asked a question. {Direct Rumble Link}
James Rosen asked Bernstein why it was “Putin’s price hikes” when the gasoline prices are increasing, but not “Putin’s price plunge” when gasoline prices are decreasing. Bernstein attempted to clarify his position and ended up looking silly. WATCH:
Meanwhile, the Dallas Federal Reserve held its energy survey, there was some important feedback noted from the Oil and Gas industry.
I had not thought about some of these issues the professionals in the energy issue raised:
“The real energy crisis isn’t even here yet. The U.S. Energy Information Administration forecasts U.S. oil production to an average 12.5 million barrels per day for the next 30 years. This is all but impossible. Shale will likely tip into terminal decline in about five years as the main shale plays run out of location. Unfortunately, by thin, most of the individuals with incumbent knowledge about offshore and international development will have retired. The brain drain in the industry will create a real and much larger crisis in the mid-to-late 2020’s.”
