$100 Oil Is Coming

Source: American Consequences
by Trish Regan

“At the gas pumps this summer, Americans are about to experience something they haven’t felt in years … sticker shock. Already in California, gas prices are upwards of $4 a gallon … And Hawaii and Nevada are close to it, too. Mendocino, California boasts the highest gas prices in the country — at Schlafer’s Auto Body & Repair, it will cost you $6.73 per gallon to fill up your tank. And summer, with all its road trips, hasn’t even kicked into full gear yet! I’ve been calling for $75 to $100/barrel oil by summer since January of this year … And unfortunately for the American consumer, it looks like we’re almost there. The Federal Reserve bears some responsibility for these higher prices. One thing the Fed fails to take into consideration when its members try to tell us inflation is ‘tame’ and ‘under control’ is that the economy is poised for even greater growth at this moment in time.” (06/10/21)