Oil could go up to $380 a barrel?

[task0778]

JP Morgan energy analysts recently reported that crude could reach $380 a barrel. This would be triggered by a sharp curtailment of Russian exports. And, in turn, this would be caused by the friction between the West and Russia over the war in Ukraine. Bloomberg reported on the research which forecasts Russia could cut five million barrels of production a day without crippling its own economy.

High gas prices could hurt drivers and oil companies, experts say

Gas prices primarily rely on oil prices. Other components include refinery costs, transportation, and state and federal taxes. President Biden and some state governors have suggested a temporary suspension of these taxes would help consumers.

Oil prices at $380 would push gas prices above $10 a gallon, and perhaps toward $15. The U.S. economy could not take the shock, and whatever recession might be ahead would deepen. The problem in Europe could be close to identical.

America Braces For $380 Oil

Oil prices, at just above $100 a barrel, have driving gas prices above $5 based on a gallon of regular nationwide. In some states, the number is closer to $6 a gallon.Oil prices also affect other parts of the economy. Jet fuel price spikes have cut into airline profits. Oil is used in...

247wallst.com

I put a ? in the title cuz I think this much of an increase isn't likely. Possible maybe, but not likely cuz at that price the oil industry will see more people and money invested and the price will moderate before it gets that high. Congress sure as hell won't stand in the way, especially after the GOP takes back control of both the House and the Senate. Hopefully at that point enough democrats including Biden realize that the stranglehold the enviros have on the Far Left isn't enough to save them in future elections and there might be some mitigation in the war on fossil fuels, or at least a temporary truce.

$380/barrel is a pretty steep climb for about $100, I don't know what those guys at JP Morgan are looking at, but people will adjust. More public transit, less commuting as more people work at home, and more walking or biking, all of that could happen. I don't know that the increase on EVs and renewable energy will happen all that fast though, the current power grid can't be changed that fast and BTW there's a huge expense involved that the democrats and the enviros aren't talking about. And even so, this country will still need fossil fuels for quite some time.

 

[TroglocratsRdumb]

Wow, Biden and the dirty Troglocrats are really putting the screws to us.

 

[Donald H]

Something to consider, even though it's a wet dream.

Will there be a price increase due to supply and demand, or will Big Oil even take into consideration 'supply and demand'?

Keeping in mind that America manipulated the price per barrel down to $14 prior to the Gulf war against Iraq?

The only explanation so far on this board is that Biden is doing it to push electric care sales.

That's about as valid as Santa, the Easter bunny, and the rest of the christian sky fairies!

So let's all ask ourselves if Big Oil is being forced to raise the price?

LOL

 

[pknopp]

JP Morgan shouldn't be investing in oil. What we have here often times is investors like JP Morgan positioned to gain if oil goes up putting out scare stories like this in hopes it will drive up the prices.

The one really good thing about Motley Fool is that make those who write a position actually state how they are invested in that position.

 

[surada]

JP Morgan shouldn't be investing in oil. What we have here often times is investors like JP Morgan positioned to gain if oil goes up putting out scare stories like this in hopes it will drive up the prices.

The one really good thing about Motley Fool is that make those who write a position actually state how they are invested in that position.

Some of the writers for Motley Fool grew up in Ghawar.

 

[night_son]

JP Morgan energy analysts recently reported that crude could reach $380 a barrel. This would be triggered by a sharp curtailment of Russian exports. And, in turn, this would be caused by the friction between the West and Russia over the war in Ukraine. Bloomberg reported on the research which forecasts Russia could cut five million barrels of production a day without crippling its own economy.

High gas prices could hurt drivers and oil companies, experts say

Gas prices primarily rely on oil prices. Other components include refinery costs, transportation, and state and federal taxes. President Biden and some state governors have suggested a temporary suspension of these taxes would help consumers.

Oil prices at $380 would push gas prices above $10 a gallon, and perhaps toward $15. The U.S. economy could not take the shock, and whatever recession might be ahead would deepen. The problem in Europe could be close to identical.

America Braces For $380 Oil

Oil prices, at just above $100 a barrel, have driving gas prices above $5 based on a gallon of regular nationwide. In some states, the number is closer to $6 a gallon.Oil prices also affect other parts of the economy. Jet fuel price spikes have cut into airline profits. Oil is used in...

247wallst.com

I put a ? in the title cuz I think this much of an increase isn't likely. Possible maybe, but not likely cuz at that price the oil industry will see more people and money invested and the price will moderate before it gets that high. Congress sure as hell won't stand in the way, especially after the GOP takes back control of both the House and the Senate. Hopefully at that point enough democrats including Biden realize that the stranglehold the enviros have on the Far Left isn't enough to save them in future elections and there might be some mitigation in the war on fossil fuels, or at least a temporary truce.

$380/barrel is a pretty steep climb for about $100, I don't know what those guys at JP Morgan are looking at, but people will adjust. More public transit, less commuting as more people work at home, and more walking or biking, all of that could happen. I don't know that the increase on EVs and renewable energy will happen all that fast though, the current power grid can't be changed that fast and BTW there's a huge expense involved that the democrats and the enviros aren't talking about. And even so, this country will still need fossil fuels for quite some time.

High gas prices cripple our economy. One need not be a genius to comprehend the math. For over a century we collectively as a people and nation have been addicted to relatively cheap gasoline; we depend on it to make every other possible facet of our lives function. If the government, in bed with big oil, wants to strangle the average American household then maintaining outrageous per gallon gasoline prices is the way to do it.

 

[task0778]

High gas prices cripple our economy. One need not be a genius to comprehend the math. For over a century we collectively as a people and nation have been addicted to relatively cheap gasoline; we depend on it to make every other possible facet of our lives function. If the government, in bed with big oil, wants to strangle the average American household then maintaining outrageous per gallon gasoline prices is the way to do it.

Funny (sorta) that Big Oil loves higher gas prices but so do the environmentalists and their democrat underlings because that hastens the day when we get off of our dependence on fossil fuels. Two groups totally at odds agreeing on the same thing, and neither one gives a crap about the average American household.

 

[Toro]

JP Morgan energy analysts recently reported that crude could reach $380 a barrel. This would be triggered by a sharp curtailment of Russian exports. And, in turn, this would be caused by the friction between the West and Russia over the war in Ukraine. Bloomberg reported on the research which forecasts Russia could cut five million barrels of production a day without crippling its own economy.

High gas prices could hurt drivers and oil companies, experts say

Gas prices primarily rely on oil prices. Other components include refinery costs, transportation, and state and federal taxes. President Biden and some state governors have suggested a temporary suspension of these taxes would help consumers.

Oil prices at $380 would push gas prices above $10 a gallon, and perhaps toward $15. The U.S. economy could not take the shock, and whatever recession might be ahead would deepen. The problem in Europe could be close to identical.

America Braces For $380 Oil

Oil prices, at just above $100 a barrel, have driving gas prices above $5 based on a gallon of regular nationwide. In some states, the number is closer to $6 a gallon.Oil prices also affect other parts of the economy. Jet fuel price spikes have cut into airline profits. Oil is used in...

247wallst.com

I put a ? in the title cuz I think this much of an increase isn't likely. Possible maybe, but not likely cuz at that price the oil industry will see more people and money invested and the price will moderate before it gets that high. Congress sure as hell won't stand in the way, especially after the GOP takes back control of both the House and the Senate. Hopefully at that point enough democrats including Biden realize that the stranglehold the enviros have on the Far Left isn't enough to save them in future elections and there might be some mitigation in the war on fossil fuels, or at least a temporary truce.

$380/barrel is a pretty steep climb for about $100, I don't know what those guys at JP Morgan are looking at, but people will adjust. More public transit, less commuting as more people work at home, and more walking or biking, all of that could happen. I don't know that the increase on EVs and renewable energy will happen all that fast though, the current power grid can't be changed that fast and BTW there's a huge expense involved that the democrats and the enviros aren't talking about. And even so, this country will still need fossil fuels for quite some time.

I’ve been saying this for awhile.

We haven’t been producing enough oil around the world, but demand continues to grow.

 

[Toro]

JP Morgan shouldn't be investing in oil. What we have here often times is investors like JP Morgan positioned to gain if oil goes up putting out scare stories like this in hopes it will drive up the prices.

The one really good thing about Motley Fool is that make those who write a position actually state how they are invested in that position.

I’ve made a lot of money in my investment career, and I’ve done that mostly due to understanding supply and demand trends.

This has nothing to do with “stories.” It has to due with dwindling supplies and increasing demand.

 

[pknopp]

I’ve made a lot of money in my investment career, and I’ve done that mostly due to understanding supply and demand trends.

This has nothing to do with “stories.” It has to due with dwindling supplies and increasing demand.

OPEC called it irrational exhuberance.

 

[Harpy Eagle]

Wow, Biden and the dirty Troglocrats are really putting the screws to us.

wow, blaming them for one person's "worst case scenario"

That is a new one