'Catastrophic Price Shock' Coming

Tuesday, April 28, 2026

As oil prices surge and supply dwindles globally, energy experts predict a catastrophic price shock that could decimate Republican chances in the midterms, reports Politico's Scott Waldman and Eli Stoklos.

Posted by reinheitsgebot at 09:06 AM | 18 COMMENTS | permalink | Comment on This Entry |

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Oil price hits $110 on Iran talks uncertainty ft.trib.al/XcDPXjF[image or embed]
" Financial Times (@financialtimes.com) Apr 28, 2026 at 2:31 AM

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'Catastrophic Price Shock' Coming

This is what I voted for.
--Boaz

#1 | Posted by snoofy at 2026-04-28 10:12 AM | Reply | Funny: 2

What will they say when gas prices finally go higher than "Biden's" prices? Will they acknowledge that this time it's entirely of our own making?

#2 | Posted by jpw at 2026-04-28 11:15 AM | Reply

Well, JPW, you want to long answer or the show answer?
Ah, hell, how about both?
"No."

#3 | Posted by Doc_Sarvis at 2026-04-28 11:18 AM | Reply

I don't understand that with all the money we've given the oil industry in subsidies over the decades why our infrastructure hasn't been upgraded to actually process the oil that is produced domestically so we don't have to rely so completely on foreign oil.

Of course that would require long term planning, something America seems lethally allergic to.

#4 | Posted by MBlue at 2026-04-28 11:18 AM | Reply | Newsworthy 1

"Coming?"

Have you tried to buy a nice cut of beef lately?

We went to a nice steak restaurant the other day.

There was only 4 of us. We each had a filet and a drink. The bill was over $300 dollars.

It was nucking futs.

So I went to the store to buy my own steaks.

They were about $30 a lb.

I bought fish instead. Which also was not cheap.

#5 | Posted by donnerboy at 2026-04-28 12:16 PM | Reply

"We went to a nice steak restaurant the other day."

I no longer go to restaurants unless it is a local coffeeshop to buy a coffee so I can over-tip the underappreciated employees.
That is not chivalry nor a form of humblebrag. That is simply old fashioned common sense.

#6 | Posted by NerfHerder at 2026-04-28 12:25 PM | Reply

Racism is expensive.

#7 | Posted by fresno500 at 2026-04-28 01:19 PM | Reply | Newsworthy 1

What's actually coming is going to make the Great Depression look like a day at the carnival.

#8 | Posted by Whatsleft at 2026-04-28 01:54 PM | Reply

Man, oh man--for being so sleepy and incompetent, it's amazing the long-lasting effects of the Biden presidency. Look now--high grocery and gas prices, reduced crop yields, slackened tourism to the US, a war, and even Jimmy Kimmel threatened with unemployment again. All Biden's fault...

#9 | Posted by catdog at 2026-04-28 03:04 PM | Reply

#9
Don't forget Obama.

#10 | Posted by Doc_Sarvis at 2026-04-28 03:22 PM | Reply

#4 | Posted by MBlue at 2026-04-28 11:18 AM

That would require spending their profits on their infrastructure, which the tax codes used to promote, rather than giving that money to their stockholders.

#11 | Posted by morris at 2026-04-28 05:51 PM | Reply

Soooo looking forward to the taste of leather, it will be all the rage again; just wait and see!

#12 | Posted by 2020Rocks at 2026-04-28 07:00 PM | Reply

... As oil prices surge and supply dwindles globally ...

As I wrote a few days ago, the oil tankers that were able to leave the Middle East before Pres trump caused the shutdown of the Strait of Hormuz have mostly (if not completely) reached their destination ports.

Now, there are few tankers on the open seas going towards oil-hungry destination ports.

If the oil shipments through Hormuz were to start tomorrow, it would be weeks to a month or two before any tankers would reach their destination ports.

And then there is the damage inflicted upon the oil processing infrastructure of the various Middle East countries. How long will it take for that damage to be repaired.

While I am not yet in the camp of a "catastrophic rice shock" ... I am of the opinion that it will likely take months to recover once things return the the situation that was in place before Pres Trump caused this turmoil in the energy production and transport markets.

#13 | Posted by LampLighter at 2026-04-28 07:17 PM | Reply

How Asia-Pacific Is Fighting a Fuel Shock That Could Get Worse
financialpost.com

... Asian nations face the prospect of prolonged strain on crucial energy supplies as the conflict in the Middle East grinds past the two-month mark, with the Strait of Hormuz still largely off-limits to shipping.

Governments have already raided their policy toolkits by amping up subsidies to keep a lid on energy prices, restricting fuel use and ordering public officials to work from home. Officials have shuttled across the globe to secure alternate oil and gas supplies, including from sanctions-hit Russia. It's all coming at a cost to their budgets.

The disruption has laid bare how reliant the region is on Middle East energy, and how dwindling stockpiles may hit everything from Taiwan's chip supply chain to rice harvests, Asia's biggest food staple. ...

#14 | Posted by LampLighter at 2026-04-28 07:20 PM | Reply

Racism is expensive.
#7 | Posted by fresno500

Thats what the SPLC thought too.

#15 | Posted by oneironaut at 2026-04-28 08:22 PM | Reply

Environmental regulations, permitting processes, and compliance requirements add complexity and costs to refinery projects.

California is notorious, but Federal government as well.

Like I have said, other than Sports Stadiums what has the US built in the last 25years?

#16 | Posted by oneironaut at 2026-04-28 08:25 PM | Reply

From the Press Secretary's notebook. "When in doubt blame Biden. If that don't work, blame Obama."

#17 | Posted by Augustine at 2026-04-28 09:43 PM | Reply

@#17

... and if neither of those work, blame regulations put into place to protect Americans.

#18 | Posted by LampLighter at 2026-04-28 09:50 PM | Reply