Still no reply. Clearly you’re unwilling to defend your position. JoeBamaNomics, Oil and Energy Analysts Indicate $100 Barrel Crude Costs By End of This Year, The Biden Team Really Need Omicron
November 29, 2021 | Sundance | 157 Comments
JP Morgan is emphasizing that U.S. energy policy is likely to end up with $150-$200 per barrel oil costs in next year ($10/gal gasoline). [ LINK] Whether that dire prediction comes true is anyone’s guess. However, consensus review makes nearing $100/barrel costs by the end of this year just as unnerving. ($6/gal gasoline). That outcome is the centerpiece for why Biden needs the Omicron variant to impact the demand side urgently.
 New York – […] “We believe the evolution of coal prices might reflect supply, demand, cost of capital and energy transitioning issues for all fossil fuels, and it would certainly be possible that oil prices will follow the same pattern (inflation adjusted for oil, that would be in a $150-200/bbl range),” wrote a team of JPMorgan Chase & Co. strategists led by Marko Kolanovic. ( read more)
This analysis essentially aligns with CTH outlooks and complements what Allianz Group chief economic advisor, Mohamed El-Erian, was saying yesterday [ LINK] The Biden energy policy is specifically to blame for the current price increases across the entire energy sector.
All of Biden energy policy, and all of Biden spending around the Build Back Better agenda, is designed to take us from where we are now into some distant place where fossil fuels are not the energy mechanism; that’s the Green New Deal component of this. However, there is no policy for their transition – they stopped all current energy policy around oil and coal.
(more…) |
