Posted on 07/17/2022 6:07:07 AM PDT by Libloather
Drivers relieved by the recent dip in gas prices may be in for a shock when the summer winds down, with energy analysts warning a fresh round of price surges could emerge as soon as October.
The prospect of a new gas price jolt coinciding with midterm elections has the White House and many Democrats on edge.
The price concerns are tied to the timeline for stricter sanctions on Russia that will further choke the global oil supply. J.P. Morgan has warned that in a worst-case scenario - in which Russia retaliates by shutting down its supply altogether - the price of oil could jump to $380 per barrel, more than triple what it is today.
“If you were to ask me where could oil prices go, I would say pick a number,” said Michael Tran, managing director for global energy strategy at RBC Capital, who says that while the outlook is murky, several indicators point to a price rebound. “This is the tightest oil market we have seen in a generation or more.”
The worrisome prognosis for consumers, coming as the nation is already struggling with historic levels of inflation, has the Biden administration grasping for interventions that could bring relief.
Yet U.S. political leaders are confronting the reality that even the most aggressive domestic political and policy measures often have scant impact over prices in a global oil market guided by forces out of their control.
Economists across the ideological spectrum warn that the measures the White House is promoting - allowing Russian oil into the global market at reduced prices, taxing oil company “windfall” profits, cutting the federal gas tax - could ultimately aggravate the energy crunch in the United States, rather than ease it.
(Excerpt) Read more at washingtonpost.com ...
So, $4.75 is “relief” now? The new normal?
So many members of FR are touting the low popularity of the Democrats right now because of the economy. Our nation has the memory of goldfishes...I am predicting a significant drop in gas prices, sudden drop in inflation, an a temporary, but significant rise in stock market just before midterms... enough to keep things in check and prevent a hand off to Republicans. Two years is enough time for Democrats to rehabilitate Biden as come back kid....
Relieved? Relieved?
Who in the Sam Hill is relieved with prices still over $4/ gallon?
My thoughts exactly. This is probably the Dems plan for an “October surprise”...
Going from $5.65 down to $5.35 isn’t “relief” when 18 months ago it was $2.60.
Sheesh.
5.56mm
Still over 5 bucks where I am at.
Not May…..will
Ethanol, but still a recipe for famine.
I agree. The dems are going to try to make things look as good as possible to get as many votes as possible.
If they manage to steal this election, too, we’re screwed. This country will officially be toast.
“... the Biden administration [is] grasping for interventions that could bring relief.”
What can they do? The demonkraps caused the crisis by their anti-fossil fuel actions and the implementation of non-available “clean energy” through givernment mandate instead of letting the free-market solve “the problem”. In addition their failure in foreign policy in a globally integrated economy. The givernment-globalist foreign policy that evolved in the wake of WW2 was implemented with Russia - if enemies traded, they would never wage war because of their interdependence. Yepp, today’s demonkraps and their media would have to go back on all of that... go back to Trump and Reagan.
No, instead their “interventions” have been to tell lots of lies (”inflation is transitory”), releasing petro from limited strategic reserves, blame Putin, and recently blame the GOP of not offering solutions. DOn’t worry though, after Labor Day the (s)election cycle will be filled with slandering the GOP as racists, and anti-woman, anti-science, fat cats who are in bed with the evil pharmaceutical companies, against education and school meals. Will they be able to rig and defraud in the past? Will the GOP have aplan to undo this, or will they cave and let the demonkraps continue to control what legislation gets proposed and passed?
Bkmk
It’s called the ‘Home Heating Season’
I heard a simple ‘fist bump’ solved all of this? *SNORT*
We’re so screwed.
Global energy strategist says pick a number. As in your guess is as good as mine. Wonder how much he makes doing that?
“So, $4.75 is “relief” now? The new normal?”
Exactly. The rat propagandists at the post think we are idiots .Then they say it may go up because of the Russians. If the climate a-holes hadn’t shackled our energy producers it would not matter what the Russians did.
“My thoughts exactly. This is probably the Dems plan for an “October surprise”...”
In my humble opinion the “October Surprise” is going to be doctored video and audio of Trump instigating a insurrection, with Deep State operatives corroborating it.
With video the Democrats could bury Trump and his supporters in the legislative and judiciary branches of government, giving Democrats a clear path to stealing America from the citizenry.
My question is, where is all the video by the protesters? If they have capitol police ushering them into the buildings, how come they aren’t showing it?
I hope we take the fight to them, not wait for the Dems to do something and then offer a weak response.
Which quickly makes me wonder what will happen on the Presidential Debate moderator selections...
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