{"id":966183,"date":"2021-11-04T07:29:31","date_gmt":"2021-11-04T11:29:31","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=966183"},"modified":"2021-11-04T07:29:36","modified_gmt":"2021-11-04T11:29:36","slug":"bank-of-america-issues-dire-warning-about-where-gas-prices-are-likely-headed","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bank-of-america-issues-dire-warning-about-where-gas-prices-are-likely-headed\/","title":{"rendered":"Bank Of America Issues Dire Warning About Where Gas Prices Are Likely Headed"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/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%2Fbank-of-america-issues-dire-warning-about-where-gas-prices-are-likely-headed%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=966183&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>Bank of America is warning that gas prices could go significantly higher than they currently are as Americans are currently paying approximately $3.41 per gallon across the U.S. for regular and just over $4 per gallon for premium.<\/p>\n<p>\u201cBank of America is now predicting that Brent crude oil, which drives gas prices, will zoom to $120 a barrel by June 2022,\u201d CNN <a href=\"https:\/\/www.cnn.com\/2021\/11\/03\/business\/gas-prices-oil-opec\/index.html\">reported<\/a>. \u201cThat\u2019s 45% higher than current levels.\u201d<\/p>\n<p>Francisco Blanch, Bank of America\u2019s head of global commodities, spoke with CNN about the prediction, noting that back in June he predicted that the price of crude oil would shoot to $100 a barrel.<\/p>\n<p>\u201cIt\u2019s very easy for prices to shoot up when demand conditions are tight like they are now,\u201d Blanch said. \u201cBack [in June], people thought we were crazy. Now, here we are. We are generally still quite bullish.\u201d<\/p>\n<p>The overwhelming majority of Americans, 65%, say that the economy is in poor shape under Democrat President Joe Biden, according to an AP <a href=\"https:\/\/thehill.com\/policy\/finance\/579456-only-35-percent-say-us-economy-doing-well-poll\">poll<\/a> released this week. An NBC News <a href=\"https:\/\/www.usatoday.com\/story\/news\/politics\/2021\/11\/01\/poll-bidens-approval-rating-falls-42\/6236752001\/\">poll<\/a> found that 60% of Americans rate Biden\u2019s stewardship of the economy poorly.<\/p>\n<p>On Tuesday, Biden pinned partial blame for high gas prices on other nations, claiming that they needed to do more to help solve the pain that Americans are feeling at the pump.<\/p>\n<p>\u201cIf you take a look at, you know, gas prices and you take a look at oil prices, that is a consequence of, thus far, the refusal of Russia or the OPEC nations to pump more oil,\u201d Biden claimed. \u201cAnd we\u2019ll see what happens on that score sooner than later.\u201d<\/p>\n<p>Sen. Joe Manchin (D-WV), chairman of the Senate Energy and Natural Resources Committee, pushed back on Biden\u2019s claims during a Fox News interview on Wednesday night when he was asked about Biden\u2019s remarks and who was to blame for higher gas prices.<\/p>\n<p>\u201cWell, I say that we can basically do more for ourself. We have been energy independent for the first time in 67 years,\u201d Manchin said. \u201cWhy can\u2019t we do more? Why can\u2019t we produce more? We have got plenty of natural gas. My state, beautiful state of West Virginia, has an ocean of natural gas under it. If they just let us build a pipeline, we could get the product to market.\u201d<\/p>\n<p>\u201cAnd why don\u2019t we do more drilling, and why don\u2019t we do more basically production in the United States?\u201d Manchin continued. \u201cI\u2019m not depending on OPEC. I\u2019m not depending on<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bank of America is warning that gas prices could go significantly higher than they currently are as Americans are currently paying approximately $3.41 per gallon across the U.S. for regular and just over $4 per gallon for premium.\u201cBank of America is now predicting that Brent crude oil, which drives gas prices, will zoom to $120 a barrel by June 2022,\u201d CNN reported. \u201cThat\u2019s 45% higher than current levels.\u201dFrancisco Blanch, Bank of America\u2019s head of global commodities, spoke with CNN about the prediction, noting that back in June he predicted that the price of crude oil would shoot to $100 a barrel.\u201cIt\u2019s very easy for prices to shoot up when demand conditions are tight like they are now,\u201d Blanch said. \u201cBack [in June], people thought we were crazy. Now, here we are. We are generally still quite bullish.\u201dThe overwhelming majority of Americans, 65%, say that the economy is in poor shape under Democrat President Joe Biden, according to an AP poll released this week. An NBC News poll found that 60% of Americans rate Biden\u2019s stewardship of the economy poorly.On Tuesday, Biden pinned partial blame for high gas prices on other nations, claiming that they needed to do more to help solve the pain that Americans are feeling at the pump.\u201cIf you take a look at, you know, gas prices and you take a look at oil prices, that is a consequence of, thus far, the refusal of Russia or the OPEC nations to pump more oil,\u201d Biden claimed. \u201cAnd we\u2019ll see what happens on that score sooner than later.\u201dSen. Joe Manchin (D-WV), chairman of the Senate Energy and Natural Resources Committee, pushed back on Biden\u2019s claims during a Fox News interview on Wednesday night when he was asked about Biden\u2019s remarks and who was to blame for higher gas prices.\u201cWell, I say that we can basically do more for ourself. We have been energy independent for the first time in 67 years,\u201d Manchin said. \u201cWhy can\u2019t we do more? Why can\u2019t we produce more? We have got plenty of natural gas. My state, beautiful state of West Virginia, has an ocean of natural gas under it. If they just let us build a pipeline, we could get the product to market.\u201d\u201cAnd why don\u2019t we do more drilling, and why don\u2019t we do more basically production in the United States?\u201d Manchin continued. \u201cI\u2019m not depending on OPEC. I\u2019m not depending on other countries for my energy anymore. We know how to do it. We have the technology. We should be resilient, relying on ourselves.\u201dWhen asked by Fox News anchor Bret Baier if Biden was wrong, Manchin responded, \u201cI have a difference of opinion.\u201dBlanch told CNN that OPEC is not likely to do what Biden is asking them to do because they have no incentive.\u201cOPEC is not going to accelerate. They like their plan. They think their plan is working,\u201d Blanch said. \u201cOPEC is not interested in pushing prices back down to $60 a barrel. They have zero interest.\u201dThe 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 member.<\/p>\n","protected":false},"author":102,"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-966183","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\/966183","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\/102"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=966183"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/966183\/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=966183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=966183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=966183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}