Drivers best start bracing for another surge in gas prices amid the conflict between Russia and Ukraine and years of under-investment by the oil industry, warns one veteran energy strategist.
“My guess is that you are going to see $5 a gallon at any triple-digit [oil prices] … as soon as you get to $100. And you might get to $6.50 or $7. Forget about $150 a gallon, I don’t know where we will be bv then,” Energy Word founder Dan Dicker said on Yahoo Finance Live.
Dicker said oil prices could shoot higher to $150 a barrel, or in line to the “super spike” highs from 2007.
Oil prices have been red-hot lately as geopolitical tensions rise between Russia and the rest of the world.
WTI crude oil has climbed 13% in the past month to $94 a barrel. Russia produces 10 million barrels of oil a day, the equivalent of 10% of […]
Thank you Mr. Biden.
More like thank you Putin.. his country’s economy is all fossil fuel based and his rule is threatened by that.
Rising gas prices are likely the ONLY way many Americans will act to reduce their contributions to global warming. While there are wiser ways to do it, the impact will probably be for the good except for the insecure who need big pick ups and muscle cars to compensate for what they fear they otherwise lack..
This will have repercussions in many areas… food prices being one.
Of course those of stuck with older cars will suffer the most because we could never afford a new electric car. I still drive an old 1990 Toyota. I only have 121,000 miles on it.
This effect is the result of policies driven by the elite to bolster fossil fuels at the expense of renewables. Government over the past 40 years could have worked for the best interests of all, instead it works for the interests of the few, while the population suffers.