Charlie McHenryOil prices have risen. That's making gas more expensive for US drivers and helping Russia's war - But there’s plenty of oil… so who’s to blame? Obviously the #OilCartel that is #OPEC but specifically, blame #SaudiArabia for higher prices at the gas pump. You know, the absolute monarchy that wants our nuclear power tech and our military gear so badly. Ya’d think there’d be some leverage there… but no. #KSA https://apnews.com/article/a9f4ddbd815dd6c6fd90698443e7b8b3
Oil prices have risen. That's making gas more expensive for US drivers and helping Russia's war
Oil prices are up, and that affects people far and wide. Drivers pay more for gasoline, and truckers more for diesel. Russia is earning money that it can use to wage its war against Ukraine. Central bankers may see more inflation coming and keep interest rates high. Behind the recent bump in price is Saudi Arabia's decision to slash how much oil it sends to global markets through the end of the year. Russia also is cutting back. And less supply means higher prices. Some analysts are betting oil could hit $100, while others foresee that mediocre growth in major economies like China will keep the lid on prices.
Mojo ♻️
John Brophy
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