Posted on 12/02/2021 12:52:00 PM PST by Hojczyk
It’s also possible OPEC+ will change its strategy or simply fail to meet its new production targets, putting upward pressure on prices. The cartel meets monthly to set targets, and if the Biden administration truly has some leverage over the group, sustaining it through the entirety of 2022 could be a much trickier matter.
A month or two reprieve from rising pump prices won’t do Biden much good if they shoot back up next spring and summer. That would leave voters feeling pretty sour as they prepare to vote in the 2022 midterm elections next November, when Biden’s Democrats face the real chance of losing their slim majorities in the House of Representatives and the Senate.
Still, Biden will surely take it, for now. His approval rating has been spiraling downward amid inflation concerns, Democrats flailing in Congress and the prospect of another COVID winter. Most Americans feel better when pump prices decline, including the politicians who have to answer for energy costs.
(Excerpt) Read more at finance.yahoo.com ...
Yahoo has stopped being a serious information source and started writing comedy with this article.
Yahoo! is being bought out by Apollo Global Management. I was hoping BabylonBee could’ve bought it but they may be waiting for CNN to go on sale.
If one has to guess, the recent large drop in Oil prices is due to some combination of
- Trader fears of economic slowdown and higher Fed rates
- Omicron!
- Perhaps some targeted Wall Street selling of futures at the request of Fed.gov and Federal Reserve.
- Strategic petroleum releases are only useful in that they show government intent. The amounts released are useless
Unless drilling increases all over the world, oil will continue to get tighter. Short-term and political measures will have no effect.
Gas may go down a little but at 67 dollars ..probably not much..Under Trump it as about 35 dollars...plus they may produce less gas because fuel oil will be needed in the winter...
“A month or two reprieve from rising pump prices won’t do Biden much good if they shoot back up next spring and summer.”
Cannot remember a year when gasoline prices did not increase going into the Spring and Summer.
Seriously- hasn’t OPEC already told zhao biden to F-off? Twice now?
Thank you Verizon for dumping this worthless garbage.
Huh?
Nevermind.
5.56mm
Yahoo has long been a nest of stooges.
Gas WILL go up next sping, no matter what OPEC does, due to the traditional and customary “refinery changeover fires”.
They quit letting users leave comments because the comments didn’t support their Climate Change, woke agenda,pro LBQT agenda, CRT in schools, The Biden Disaster presidency and NWO in general.
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