Quote:
Originally Posted by fgaba1949
A couple of weeks ago I mentioned a couple energy stocks as i think it was then and even more so now that oil related products were going to skyrocket in price.
Companies like Devon Exxon Chevron who just announced a 10 billion dollar stock buy back program are going to make a ton of money.
Simply put the major US oil companies have not drilling for new oil right now because of the present administrations policies regarding fossil fuel energy.
The problem is you just cant turn on these wells that have been shut down as the workers have moved on and most importantly their are very few truck drivers out there to transport the oil.
in an earlier post i predicted the price of a barrel of oil Brent would reach 110 i was wrong it has hit 123 I believe . I predicted gas at 4 bucks a gallon and i was wrong as the national average is much higher.
If the US stops buying Russian oil which i think they should i think the national average price of gas could go to $5 and maybe 8 bucks in part of California.
High gas prices all areas of transportation and we will see inflations like never before
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With Bidens banning Russian oil sales in US, maybe not too late