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White House Helpless As Oil Prices Climb Higher
Yahoo Finance ^ | Mon, January 17, 2022, 7:00 PM | Editor OilPrice.com

Posted on 01/18/2022 7:32:05 AM PST by Hojczyk

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.

What this means for the Biden administration and its efforts to keep gasoline affordable for voters ahead of the midterms is nothing good. Perhaps more SPR releases could be organized, but that would have little more effective than the first announcement: like plenty of analysts has explained, oil prices are influenced by global rather than local factors, even a major oil-producing country such as the United States.

There is little left to do for the White House and other decision-makers than sit and wait to see how the oil price game will play out. It is telling enough that OPEC does not want Brent to reach $100, per comments made by the oil minister of Oman.

"We're very careful at OPEC+, we will look at each month as we go," Mohammed Al Rumhi told Bloomberg in an interview last week. "But so far, I think 400,000 is good because demand is increasing and we want to make sure that the market is not overheating. We don't want to see $100 a barrel. The world is not ready for that."

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Business/Economy; Crime/Corruption; Front Page News; Government; Politics/Elections
KEYWORDS: bideneconomy; bidenomics; energy; oil; oilprice; opec; propaganda
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To: Hojczyk
His "climate program"...is attached to the bill they're trying to strangle us with....to the tune of MORE THAN half a trillion. It pretty much kills the fossil fuel market.

The other new thing is wanting to convert gas stoves/furnaces to electric. They have no idea what they're doing.

21 posted on 01/18/2022 7:42:14 AM PST by Sacajaweau ( )
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To: Hojczyk

its a shame all those American oil companies choose to stop drilling and using pipelines.

oh wait!

that was Brandon that forced them to do that!!!!

way to go Brandon!


22 posted on 01/18/2022 7:45:52 AM PST by TexasFreeper2009
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To: JoSixChip

“Who in their right mind would invest in energy infrastructure in this country? You never know day-to-day what court, government agency or hippies are going to stop the project on the thinnest of reasons. No, there is no assurance of stability in the regulatory environment. In fact this government goes out of it’s way to be unstable. “

I have made this point before. These are all high capital, multiyear to decades long projects. The potential of the rug pulled out from under them is now never more than two to four years away. And this will still be true with an all Republican, business friendly government.


23 posted on 01/18/2022 7:46:47 AM PST by The Antiyuppie (When small men cast long shadows, then it is very late in the day.)
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To: Hojczyk

Biden snd co made decisions... 1 was to cut the pipeline. They make decisions from passion.. revenge... climate ..and dumb steps lead to bad consequences.

If they had continued with what works...
But they are not very smart.


24 posted on 01/18/2022 7:52:55 AM PST by frnewsjunkie
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To: Hojczyk

They made their bed, then shit in it, now they complain that it stinks..................


25 posted on 01/18/2022 7:55:07 AM PST by Red Badger (Homeless veterans camp in the streets while illegal aliens are put up in hotels.....................)
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To: The Antiyuppie

The drillers are only using profits to drill...no long term debt they got crush once ..plus they told Joe go to hell after he added new regulations


26 posted on 01/18/2022 7:56:58 AM PST by Hojczyk
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To: bray
There is no such thing as a fossil fuel.

true, but Biden IS a Fossil Fool.

27 posted on 01/18/2022 8:01:58 AM PST by commish (Freedom tastes Sweetest to those who have fought to preserve it!)
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To: JoSixChip
Who in their right mind would invest in energy infrastructure in this country?

Good question

28 posted on 01/18/2022 8:04:18 AM PST by newzjunkey (“We Did It Joe!” - The Taliban)
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To: Hojczyk

At least they got the first few words of the title correct “White House helpless”


29 posted on 01/18/2022 8:04:55 AM PST by newzjunkey (“We Did It Joe!” - The Taliban)
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To: alancarp

Why would he want to fix it, this was the plan all along.


30 posted on 01/18/2022 8:05:04 AM PST by MrRelevant
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To: Hojczyk

Whitehouse is foolish not helpless.


31 posted on 01/18/2022 8:06:09 AM PST by Irenic
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Hey jo…just issue an eo banning all ice vehicles…oil will crash along with civilization…no problem…


32 posted on 01/18/2022 8:16:51 AM PST by TnTnTn
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To: No Party Affiliation

Pipelines and drilling.


33 posted on 01/18/2022 8:17:53 AM PST by ActresponsiblyinVA
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To: Hojczyk
White House helpless as oil prices climb higher.

Fixed it.

34 posted on 01/18/2022 8:19:18 AM PST by Seruzawa ("The Political left is the Garden of Eden of incompetence" - Marx the Smarter (Groucho))
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To: bray

He has done everything he can to get prices up on “fossil fuels”

There is now record oil and gas and near coal production under Biden.

The problem is OPEC cut back, wall street speculation, shortages in Europe and Asia are driving up prices.

Good article in Forbes is explaining what is happening.

https://www.forbes.com/sites/daneberhart/2021/11/13/why-are-oil-prices-so-high-when-the-us-remains-one-of-the-worlds-largest-producers/?sh=5a1c9f79ddfc


35 posted on 01/18/2022 8:23:40 AM PST by setter
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To: Bonemaker

Exactly!
As long as the prices rise slowly, they’ll be fine. Like Obama only minded the spikes that ticked his constituents off.


36 posted on 01/18/2022 8:25:55 AM PST by griswold3 (When chaos serves the State, the State will encourage chaos)
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To: Hojczyk

HELPLESS?? Nope, cut the bullsh@%. Propaganda outlet at it again.


37 posted on 01/18/2022 8:31:45 AM PST by Moorings
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To: JoSixChip

“Who in their right mind would invest in energy infrastructure in this country?”

A record amount of new gas wells where approved in my area in 2021 and new pipelines, pumping stations etc are going in like crazy.

The Marcellus Utica gas reserves i Ohio Wva and PA have pumped out a record gas production in 2021 under Biden. Largest production amount n their history. No I am not giving credit to Biden.

Don’t believe the end of fossil fuels. Natural gas production will be around for decades to come.

Large corporations/fossil fuel co’s control our energy system not the politicians.


38 posted on 01/18/2022 8:32:46 AM PST by setter
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To: Hojczyk
Biden and his commies did this to us and they did it on purpose.

Massive inflation to follow - then rationed food - then starvation and boot grinding into faces 'control'?

Thanks to black democrats for inflicting this idiot Biden (and his thugs) on the country for four years. We will NOT forget...

39 posted on 01/18/2022 8:36:10 AM PST by GOPJ (The democrat plan is NOT 'voting rights' - - it's support for voter fraud.)
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To: Hojczyk
Yep. The White House is utterly helpless. COMPLETELY HELPLESS!

They could NEVER put the various pipelines they decommissioned, back into operation. IMPOSSIBRU!

They could never restore drilling on Federal land. IMPOSSIBRU!

They could never back off their declared hostility to fossil fuels! IMPOSSIBRU!

They could never walk back some of their absurd Climate Change initiatives! IMPOSSIBRU!


40 posted on 01/18/2022 8:39:36 AM PST by Lazamataz (He who does, does not talk. He who talks, does not do.)
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