Yellen: 'It Is Possible' Oil Prices Will Spike This Winter

[libertybele]

So, 'they're' either going to wind up starving people to death or freezing them to death.    COVID didn't kill enough people.

Yellen: 'It Is Possible' Oil Prices Will Spike This Winter

We want to see a strong labor market and inflation coming down to more normal levels," Treasury Secretary Janet Yellen told CNN's "State of the Union" on Sunday.

Two days later, on this Tuesday, the Labor Department's Bureau of Labor Statistics said inflation -- the Consumer Price Index for all items -- rose 0.1 percent in August.

Over the last 12 months, the all-items index increased 8.3 percent, far above the Federal Reserve's goal of two percent.

BLS noted that increases in the shelter, food, and medical care indexes were the largest of many contributors to the broad-based monthly all items increase. These increases were mostly offset by a 10.6-percent decline in the gasoline index.

But -- Yellen said gasoline prices may rise again this winter:..................

https://www.cnsnews.com/article/international/susan-jones/yellen-it-possible-oil-prices-will-spike-winter

[Smokin Joe]

Telegraphing the post-midterm jump in gas prices.
I expect at least $1.00/gallon, maybe more.

[libertybele]

Telegraphing the post-midterm jump in gas prices.
I expect at least $1.00/gallon, maybe more.

It boggles my mind, how we have gone from being energy independent to paying steep gas prices in just a short period of time.  Those that have no other source of heat this winter other than fuel are going to be hurting,  It's one thing if you have a nice wood stove and a stockpile of nice seasoned wood, but affording other types of heat is going to be costly.

[Cyber Liberty]

[catfish1957]

Why isn't anyone talking about that it is going to cost nearly $70B to refill the Strategic Oil Reserve?

Plus as we go through that process, oil is likely to shoot up well past $100/bbl, based on demand curves.  And thus, higher gas prices return.  (after the November elections of course)

[libertybele]

Why isn't anyone talking about that it is going to cost nearly $70B to refill the Strategic Oil Reserve?

Plus as we go through that process, oil is likely to shoot up well past $100/bbl, based on demand curves.  And thus, higher gas prices return.  (after the November elections of course)

By depleting our reserves, then in their logic, because of the expense, people will want to go all 'green'.  Idiots.

[Cyber Liberty]

By depleting our reserves, then in their logic, because of the expense, people will want to go all 'green'.  Idiots.

If the SPR runs out, we'll be back to the days when we can be blackmailed by the Arabs and the Russians.  This is what Putin was waiting for.

[libertybele]

If the SPR runs out, we'll be back to the days when we can be blackmailed by the Arabs and the Russians.  This is what Putin was waiting for.

Who knows what deal Joe has already struck with Putin.