Eco-Left “Experts” Wrong on New Mexico…Again

July 9, 2021

Being an eco-leftist means you never have to answer when your doom-and-gloom predictions about the energy industry fail.

It was just last October when the left-wing Institute for Energy Economics and Financial Analysis put out their report that New Mexico’s energy industry was declining. Local radical environmentalists hailed the report and demanded the state listen to the “experts.”

One article quoted an author of the report as saying:

“Co-author of the IEEFA report Tom Sanzillo said estimates show the average price of oil will remain as low as $43 per barrel through 2022.

“It’s an improvement over the historic lows hit in April 2020, but still far below what’s needed to return New Mexico to robust fiscal health,” he said. “The situation is unlikely to improve anytime soon.”  (Emphasis added.)

Whoops.

The average price of a barrel of oil exceeded $43 less than a month after IEEFA made their price prediction, and it hasn’t looked back. Secondly, the prediction that the oil and natural gas industry wouldn’t help New Mexico’s fiscal health turned out to be false as well.

Where is the media? Where are all the environmental groups who championed the IEEFA report as sacred? They’ve all moved on, because being an eco-leftist means you never have to be accountable.