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Online mystery-ak

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White House Helpless As Oil Prices Climb Higher
« on: January 18, 2022, 03:57:34 pm »

Editor OilPrice.com
Mon, January 17, 2022, 6:00 PM

When President Joe Biden announced plans to release up to 50 million barrels of oil from the strategic petroleum reserve to lower retail fuel prices, many analysts warned that any effect this move would have would be short-lived. Indeed, prices dropped for a very short while and are now on the climb again, with the number of three-digit price forecasts growing.

The strategic reserve release was already a desperate attempt to put a lid on gasoline prices, pushed up by crude oil prices, themselves the result of a faster rebound in global demand and production constraints among OPEC members. The Omicron variant of the coronavirus, like the SPR release plans, had a transitory negative effect on benchmarks, but before long, they were once again on the rise.

Morgan Stanley expects Brent crude to reach $90 per barrel later this year. This is also the price forecast of Goldman. JP Morgan recently said that crude could reach and exceed $100 this year, noting the decline in OPEC spare production capacity. The latest to join the bullish choir is Vitol, whose head for Asian operations told Bloomberg last week that oil had further up to go because of tight supply.

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Online Kamaji

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Re: White House Helpless As Oil Prices Climb Higher
« Reply #1 on: January 18, 2022, 04:02:01 pm »
Study what Reagan and Volker did in the early 1980s to tame stagflation, and consider adopting similar policies.
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Offline catfish1957

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Re: White House Helpless As Oil Prices Climb Higher
« Reply #2 on: January 18, 2022, 06:22:01 pm »
Quote from: Kamaji on January 18, 2022, 04:02:01 pm
Study what Reagan and Volker did in the early 1980s to tame stagflation, and consider adopting similar policies.

My little grandson has more financial savvy than this brain dead son of a bitch, and clown cronies. 

See the stimulus thread just above this one?  Their strategy is just to pour more gas on the fire.
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Offline Hoodat

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Re: White House Helpless As Oil Prices Climb Higher
« Reply #3 on: January 18, 2022, 06:23:09 pm »
The White House isn't helpless.  The White House is complicit.
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Online Kamaji

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Re: White House Helpless As Oil Prices Climb Higher
« Reply #4 on: January 18, 2022, 06:23:18 pm »
Quote from: catfish1957 on January 18, 2022, 06:22:01 pm
My little grandson has more financial savvy than this brain dead son of a bitch, and clown cronies. 

See the stimulus thread just above this one?  Their strategy is just to pour more gas on the fire.

I know.
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Offline LMAO

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Re: White House Helpless As Oil Prices Climb Higher
« Reply #5 on: January 18, 2022, 07:35:33 pm »
Quote from: Kamaji on January 18, 2022, 04:02:01 pm
Study what Reagan and Volker did in the early 1980s to tame stagflation, and consider adopting similar policies.

I don’t know if that will work now?  It did work in the 80s but we had to go through one or two horrible recessions. And we’re nearly $30 trillion in debt with a debt to GDP ratio of well over 100% unlike the 80s

Had Reagan ran for a second term in 1981 or 1982, he would have lost handily. Fortunately, we came out of that recession of the early 80s much better. By 1984, Reagan was untouchable for reelection

We’re currently being run by people who believe  in Modern Monetary Theory
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Offline DefiantMassRINO

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Re: White House Helpless As Oil Prices Climb Higher
« Reply #6 on: January 18, 2022, 07:56:17 pm »
Supply side economics ... drill, baby, drill!

Scarcity creates value.  Every well that can't be drilled, every pipeline that can't be built, every refinery that can't expand, every LNG facility that is halted - just makes the existing supply that much more valuable. $$$

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« Last Edit: January 18, 2022, 08:05:31 pm by DefiantMassRINO »
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Offline IsailedawayfromFR

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Re: White House Helpless As Oil Prices Climb Higher
« Reply #7 on: January 21, 2022, 09:47:58 pm »
« Last Edit: January 21, 2022, 10:23:42 pm by IsailedawayfromFR »
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