Report about what the Biden WH was ‘shocked to learn’ about oil production speaks disastrous volumes

Posted at 12:23 pm on June 13, 2022 by Doug P.

President Biden continues to blame inflation and record-high gas prices on Vladimir Putin (along with “corporate greed,” which coincidentally didn’t seem to get really bad until Biden took office). With inflation and gas prices contributing to driving Biden’s approval to record lows while increasing the likelihood of a midterm blowout for the Democrats, this administration is in scramble and desperation mode.

Here’s a report that serves as just one example for why we’re not in the best of hands on the issue of energy (or any other issue for that matter):

“When the White House started calling around in a panic, they thought shale oil production could grow sharply in the near term — like in a matter of months or quarters .. They were shocked to learn that that’s like asking for blood from a stone.”@FT https://t.co/b3SeqtoFRz pic.twitter.com/h2LmDTaOah
— Carl Quintanilla (@carlquintanilla) June 13, 2022

These kinds of things are going to happen when a White House’s “qualifications” for a job don’t really have anything to do with experience and competence.

It's like they walked in, made a whole slew of political decisions, and didn't bother to contemplate the possible negative consequences. https://t.co/cba2Fjelfq
— Jay Caruso (@JayCaruso) June 13, 2022

File this under “Y” for “Yikes”:

As US petrol prices scale record highs, with the cost of a gallon of fuel surpassing $5 for the first time, Joe Biden has pleaded with the country’s oil producers to open the taps and stem the surge.
But those calls — a stark departure for a president who vowed to crack down on fossil fuels — have largely gone unheeded as the industry insists its drilling spree days are behind it.
“When the White House started calling around in a panic, they thought shale oil production could grow sharply in the near term — like in a matter of months or quarters,” said Bob McNally, head of consultancy Rapidan Energy.
“They were shocked to learn that that’s like asking for blood from a stone. It’s almost impossible.”

Everything’s going great! *Cue massive eye roll*

Government: setting all the rules without understanding the game. https://t.co/Rr3RApLziA
— Abstract Beef (@Interne74085453) June 13, 2022

There's a lesson here about the difference between viewing the economy (or policy generally) as pressing a button to make things happen and as a complicated physical infrastructure with significant lead time https://t.co/4wWjNrSqZh
— V.N. Ebert (@vnebert1) June 13, 2022

Another good example of that government mindset was at the beginning of Covid, when bureaucrats and politicians thought businesses could be shut down indefinitely and money printed and pumped into the economy without any long-lasting and disastrous consequences both economically and socially.