Adviser Investments portfolio manager Adam Johnson discusses his outlook for oil prices.
Yeah, I mean, it does, but remember, you know, cars have gotten, not to simplify, but cars have gotten so much more fuelefficient. So when you think about it, you know if you can get 40 miles a gallon, that's very different from the 20 miles a gallon that you got, you know, 15 years ago. So $100 oil actually bites the consumer less than it used to. And again, I don't mean to oversimplify, because oil is an input for so many different aspects of the economy.
The one issue that we have to wrestle with is the fact that at the moment, even though we have all this oil in the ground, we're undersupplied. You know, producers shut off the spigot a year and a half ago when oil went down to 15 or 20 bucks. It didn't obviously pay to bring it out of the ground. You can't just turn the spigot back on. You couple that with the fact that the Biden administration curtailed drilling on federal land, and it was a serious impact on supply.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Our Presidents’ Day Plan: Saving 50% at Sephora, Getting $100 Off at Air Fryers & MoreThese stellar sales are dropping to help make your long weekend even better. 😉
Weiterlesen »
Oil prices near $100 a barrel and stocks sink as Ukraine crisis deepensMounting concerns over the conflict are hitting global financial markets driving up crude prices to an eight-year high.
Weiterlesen »
U.S. drivers brace for the highest prices in 9 years as oil approaches $100 a barrelU.S. drivers are looking at the highest prices for gasoline at the pump since at least 2013, with prices for oil eyeing $100 a barrel --- a level it hasn’t...
Weiterlesen »
Crude Oil Jumps as Russian Troops Enter Ukraine, Oil Eyes $100 a BarrelOil remains strongly bid in the current environment and will remain so, although it is unlikely that Russian oil and gas supply will be affected by any upcoming sanctions. Get your market update from nickcawley1 here:
Weiterlesen »
Stocks sink, oil nears $100 per barrel as Biden sticks Russia with sanctionsStock investors endured another volatile session as the Russia-Ukraine crisis continues.
Weiterlesen »
Kate Middleton Wears an Under $100 Blazer on Her Trip to DenmarkKate Middleton wore this under $100 blazer on her trip to Denmark. Shop it now
Weiterlesen »