Coming to a town near you - Supply will be down but demand will increase, aka, oil/gasoline prices will be higher.
Nobody wants to invest in the big bad oil industry because "it's doomed" and is "not a long term solution". ESG investing has made oil once again the corporate villain. Oil companies need to get it together and stop worrying about the 5-10% dividend. A demand boom is coming.
Gas around me almost looks like it changes price every couple of days. It used to be a week or two or three before the price changed up or down. Goofy market right now.
May the force be with us.
We should see the price of Crude spike due to this action.oilgusher.gifSay goodbye to cheap gas!
Biden to Cancel Keystone XL Pipeline in Inauguration Day Executive Order
The project had already been languishing, but the action by Mr. Biden would signal his determination to undo President Trump’s environmental legacy.
https://www.nytimes.com/2021/01/18/u...-pipeline.html
Up 20¢ here since the first. Up 5 today.
Everyone knows what happens when the price of oil goes UP! The price of Heating Oil, Gasoline spike causing the price of everything that is shipped to be more expensive and that's not all. Ask Jimmy Carter what happens. gasprices (2).jpg
Gas is between $2.17 and $2.47 around me.
May the force be with us.
Gas around here is between $2.29 and $2.65 a gallon. The average is $2.39.
May the force be with us.
E10 $2.10 to $2.35 a gallon in Boiled Peanut GA!
Oil is pushing $60 a barrel today.
https://www.cnbc.com/quotes/@CL.1
Tom
Market Commentary | My Blog | TSP Talk Plus | |
I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
Oil prices to reach $72 by summer: Goldman Sachs
Demand will outstrip supply
Oil prices will rally faster and sharper than previously expected as demand outstrips supply increases from OPEC+, Iran and U.S. shale, according to Goldman Sachs Group Inc.
A reopening of the global economy will help demand return to pre-COVID-19 levels, but inventories remaining tight into the summer will cause West Texas Intermediate crude oil, the U.S. standard, to reach $67.50 per barrel in the second quarter and $72 in the next three months, according to Goldman. The firm previously forecast WTI would hit $62 this summer. [more]
https://www.foxbusiness.com/markets/...-goldman-sachs
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