Posted on 09/19/2023 6:03:14 AM PDT by Eleutheria5
Biden White House watching closely as oil extends rise about $90 -a-barrel, Treasury Secretary says
Treasury Secretary Janet Yellen on Monday said she thinks oil prices will stop rising but that the Biden administration is watching carefully.
"My expectation is that they will stabilize, but we will just have to keep an eye on it," Yellen said in a CNBC interview
Oil prices are at their highest level this year after three straight weekly gains pushed crude above $ 90 per barrel
Asked if the administration was considering any action, Yellen said that President Joe Biden wants to make sure that gas prices remain affordable for Americans. She noted that prices are still down over $1 from the price in the summer of 2022.
"China coming back on line and the continuation of the production cuts by Saudi Arabia has lifted oil prices somewhat. We're monitoring the situation very closely," Yellen said.
Past releases of oil from the Strategic Petroleum Reserve have been important in holding down oil prices, she added.
Yellen said she was pleased with recent economic trends, noting that inflation is coming down while the job market has remained very healthy.
The Treasury Secretary said it was premature to forecast what the United Auto Workers strike against the Big 3 auto companies means for the economic outlook.
"I'm pleased by what I see in the economy," Yellen said.
(Excerpt) Read more at morningstar.com ...
Link to follow below.
Hope is not a plan. She has no plan. But she's pleased by what she sees.
Oh sh*t... She’s been wrong about everything so far...
“Oh sh*t”
I believe the word you’re looking for starts with a B.
“Transitory.”
Inflation, oil and gas prices, home prices, interest rates, food prices....all skyrocketing under Bidenomics.
I seen a video yesterday that showed Premium gas prices nearly $8 for credit card purchase in California. The host was predicting $10 this year.
Headline: “Muppet Figure Exudes Confidence over Future Oil Price Declines.”
Praise the Lord! Bert and Ernie will weigh in later.
Oh, so Yellen is certain Trump will win. That’s good news and not a little surprising.
Gee it’s so comforting to know that prices will level off AT TWICE THE PRICE that it was under Trump! /s
It was $5.29 on Friday. Yesterday afternoon it was $5.69.
In March it was $4.29.
I'm afraid to drive past a gas station without topping off.
And, no, I did not choose to live in California. Uncle Sam chose for me.
“I’m pleased by what I see in the economy,” Yellen said.
That says it all.
“My expectation is that they will stabilize.”
At right around $150 a barrel or so.
L
In Los Angeles, the San Fernando Valley, Gas at most stations was %6.49-&6.89, AM/PM was 5.89 and the no name station I filled up this morning was $5.69
It’s a small price to pay for No More Mean Tweets coming out of the White House. At least the price of Food has doubled too, again, It’s a small price to pay for No More Mean Tweets coming out of the White House.
That right there is a kiss of death for the possibility of gas prices dropping.
“Yellen said she was pleased with recent economic trends, noting that inflation is coming down while the job market has remained very healthy.”
Bbaaaawwwaaaahhhhh
She should read “Hope is not a Method” by Gordon Sullivan.
He’s the General that oversaw the logistics for Desert Storm.
No, she doesn’t. She, and the elites, just want you to shut up about it and not get angry.
Once the recession actually settles in oil prices will in fact drop as demand drops. Shes just obtuse and unwilling to be honest about it.
She is the most ignorant dwarf to ever kiss a head commies ass. She should plan a visit to Australia in time for the Annual Dwarf Throwing Contest.
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