- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Bank of America: Oil May Hit $100 This Winter and Spur Economic Crisis
Posted on 10/8/21 at 7:11 am
Posted on 10/8/21 at 7:11 am
quote:
The global energy crunch could help propel oil prices above $100 a barrel for the first time since 2014 and spur a global economic crisis, according to Bank of America.
Natural gas prices have already surged to almost double that level in oil equivalent terms, and BofA says a spike in demand for diesel could push crude into similar territory. With monetary and fiscal policy stretched to the limit and energy costs rising as a share of economic output, higher oil prices could in turn create a macro crisis, the bank said Friday in a note.
The boost to crude would be driven by three factors: gas-to-oil switching as a result of high gas prices, a jump in crude consumption over a cold winter and higher aviation demand as the U.S. reopens its borders.
“If all these factors come together, oil prices could spike and lead to a second round of inflationary pressures around the world,” analysts including Francisco Blanch wrote in the note. “Put differently, we may just be one storm away from the next macro hurricane.”
Diesel prices could climb above $120 a barrel, the bank said, with stockpiles falling as refiners prioritized the production of gasoline in recent months. Other oil-based fuels used in heating are already seeing an uplift, with U.S. propane prices at their highest since 2014.
As well as the cooler weather, BofA also said that underinvestment in commodities due to poor returns is also set to fuel higher oil prices in the longer-term.
“A multiyear run up in crude oil prices is now in the cards,” the bank said.
LINK
Time to start parrousing the truck nuts catalogs again?
This post was edited on 10/8/21 at 7:12 am
Posted on 10/8/21 at 7:13 am to ragincajun03
Looks like Biden is trying to setup a deal with Iran and other ME countries to boost production. Anything to screw over Americans and prop up dictatorships.
This post was edited on 10/8/21 at 7:14 am
Posted on 10/8/21 at 7:13 am to ragincajun03
An economic crisis? I was told we’re building back better. That’s impossible.
Posted on 10/8/21 at 7:16 am to ragincajun03
But you won’t have a tax increase! Just ignore that inflation!
Posted on 10/8/21 at 7:19 am to ragincajun03
From -$40 to $100…let’s go Brandon!
Posted on 10/8/21 at 7:19 am to ragincajun03
quote:
above $100 a barrel
Louisiana be like
Posted on 10/8/21 at 7:25 am to ragincajun03
Corn Pop was one tough dude.
Posted on 10/8/21 at 7:27 am to tiggerthetooth
quote:
Looks like Biden is trying to setup a deal with Iran and other ME countries to boost production. Anything to screw over Americans and prop up dictatorships.
We have one President that wants to maximize American oil and minimize dependence on ME oil. Then we have one dipshit that wants to destroy American oil and the jobs associated with it to depend exclusively on the oil cartel that is OPEC. Not to mention ramp up the conflict in the ME when it’s been extra quiet for the last 4 years. There is a special place in hell for people who voted for this clown.
Posted on 10/8/21 at 7:35 am to RebelExpress38
quote:
Just ignore that inflation!
We just need a 3.5 trillion "infrastructure" bill now.
Posted on 10/8/21 at 7:40 am to tigerpimpbot
FINNA EAT! The Haynesville is about to EXPLODE!
Posted on 10/8/21 at 7:44 am to BigPerm30
quote:.
There is a special place in hell for people who voted for this clown
When Brandon handed the mandatory shot “mandate” down, I looked st my husband and told him I blamed his parents and people like them for this crap.
Because Trump didn’t sound nice and was mean.
This post was edited on 10/8/21 at 7:45 am
Posted on 10/8/21 at 7:44 am to ragincajun03
No more mean tweets!!!!
Posted on 10/8/21 at 7:46 am to ragincajun03
I remember just two years ago we were energy independent and had the greatest economy in history but having to read those mean tweets every day just wasn't worth all of that prosperity.
Posted on 10/8/21 at 7:46 am to Boring
quote:
From -$40 to $100…let’s go Brandon!
People can’t afford $100/barrel oil. Why can’t they just make smaller barrels?
Posted on 10/8/21 at 7:53 am to ragincajun03
It’s ok baws, at least we don’t have mean tweets anymore. I mean sure $1.85 gas was nice, but I’ll live with $3.00 gas as long as drumpf doesn’t get to tweet mean things.
Posted on 10/8/21 at 7:56 am to fallguy_1978
It’s now up to $4.3 trillion.
Back to top
Follow TigerDroppings for LSU Football News