{"id":1223034,"date":"2022-01-18T18:09:42","date_gmt":"2022-01-18T23:09:42","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1223034"},"modified":"2022-01-18T18:09:47","modified_gmt":"2022-01-18T23:09:47","slug":"oil-prices-expected-to-soar-in-2022","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/oil-prices-expected-to-soar-in-2022\/","title":{"rendered":"Oil Prices Expected To Soar In 2022"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Foil-prices-expected-to-soar-in-2022%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1223034&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Oil prices will hit $100 per barrel in 2022, according to Goldman Sachs.<\/p>\n<p>In a recent note, the investment bank pointed to \u201crobust fundamentals\u201d in the oil market and a \u201csurprisingly large\u201d oil supply deficit, according to a report from <a href=\"https:\/\/www.cnn.com\/2022\/01\/18\/energy\/oil-prices\/index.html\">CNN Business<\/a>. Nevertheless, Goldman Sachs pointed to a long-term \u201creluctance to invest in oil during the energy transition.\u201d<\/p>\n<p>Between November 2020 and November 2021, the average cost of gas <a href=\"https:\/\/www.dailywire.com\/news\/drilling-ceo-price-of-gas-headed-higher-under-biden\">increased<\/a> from $2.01 to $3.40 per gallon in the United States. However, President Joe Biden\u2019s allies have been emphasizing the smallest available signs of momentary cost decreases.&nbsp;<\/p>\n<p>For instance, the Democratic Congressional Campaign Committee <a href=\"https:\/\/www.dailywire.com\/news\/democrats-celebrate-gas-prices-declining-by-two-cents-in-two-weeks\">shared<\/a> a graph on Twitter boasting about a two-cent decline in gas prices, while CNN host Don Lemon recently <a href=\"https:\/\/www.dailywire.com\/news\/don-lemon-praises-slightly-lower-gas-prices-amid-bidens-push-for-better-press\">celebrated<\/a> the fact that gas prices fell by roughly $0.09 from the previous month.<\/p>\n<p>\u201cA big economic relief for millions of Americans who have been dealing with soaring energy prices,\u201d Lemon said on his program. \u201cCost at the pump, finally easing up. With the national average for a gallon of regular falling to $3.35. The lowest since October. Just look at that.\u201d<\/p>\n<p>At one point, the Biden administration attempted to address high gas prices by <a href=\"https:\/\/www.dailywire.com\/news\/bidens-tapping-of-petroleum-reserves-will-provide-just-over-2-5-days-worth-of-oil\">tapping<\/a> 50 million barrels of oil from the United States Strategic Petroleum Reserve. According to the United States Energy Information Administration, however, the United States consumed roughly 18 million barrels of petroleum per day in 2020 \u2014 meaning that the release only amounted to 2.5 days\u2019 worth of consumption.<\/p>\n<p>Meanwhile, BlackRock chief executive Larry Fink called on policymakers to \u201ccreate a green economy that is fair and just\u201d by fostering access to renewable energy sources, as highlighted by CNN Business. He said that any plan only designed to cut the supply of fossil fuels instead of increasing demand for green energy \u201cwill drive up energy prices for those who can least afford it, resulting in greater polarization around climate change and eroding progress.\u201d<\/p>\n<p>Despite BlackRock\u2019s advice, a surprising new <a href=\"https:\/\/www.dailywire.com\/news\/elon-musk-blasts-californias-bizarre-new-solar-tax-proposal-tells-people-to-complain-to-gavin-newsom\">proposal<\/a> from California \u2014 which has a reputation for favoring renewable energy \u2014 seeks to increase fees for residential solar energy consumption. The California Public Utilities Commission\u2019s suggested policy would \u201cevolve decarbonization incentive efforts to meet the state\u2019s groundbreaking clean energy goals\u201d by creating a \u201cgrid participation charge\u201d of $8 per kilowatt for residential solar panel users.&nbsp;<\/p>\n<p>Tesla CEO Elon Musk called the move \u201cbizarre\u201d and encouraged people to send complaints to Gov. Gavin Newsom (D-CA) through a website set up by the automaker. Among other actions, Tesla recommended that citizens call Newsom\u2019s office, provide verbal comment at upcoming CPUC meetings, and \u201ctweet at\u201d Newsom using the hashtag \u201c#SaveSolar.\u201d<\/p>\n<p>California is also weighing a constitutional amendment that would <a href=\"https:\/\/www.dailywire.com\/news\/california-could-double-its-taxes-to-start-massive-new-social-program\">start<\/a> a universal, single-payer healthcare system. The net effect would be to \u201cincrease taxes by $12,250 per household, roughly doubling the state\u2019s already high tax collections,\u201d according to the Tax Foundation. The top marginal rate for wages would rise to 18.05% \u2014 far higher than the nation\u2019s median top marginal tax rate of 5.3%.<\/p>\n<p>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <a href=\"https:\/\/www.dailywire.com\/subscribe\">member<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices will hit $100 per barrel in 2022, according to Goldman Sachs. In a recent note, the investment bank pointed to \u201crobust fundamentals\u201d in the oil market and a \u201csurprisingly large\u201d oil supply deficit, according to a report from CNN Business. Nevertheless, Goldman Sachs pointed to a long-term \u201creluctance to invest in oil during &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1223034","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1223034","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1223034"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1223034\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1223034"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1223034"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1223034"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}