People in the oil industry are forecasting a significant rise in the price of oil. One industry CEO is saying we could see oil at around $150 a barrel.

JP Morgan has made similar forecasts.

This is not an unreasonable forecast. It might even be conservative. The Biden regime is shutting down America’s ability to produce energy while Russia, OPEC etc.. is cutting production. The Strategic Petroleum Reserve has also been drained to historically low levels.

There’s also all sorts of inflation because of the money creation, insane amounts of government spending etc.. Not to mention the Ukraine war and other geopolitical things going on that are not good.

So yeah, we could absolutely see much higher prices for oil unless something major changes.

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