John Carney, the editor, and author of Breitbart Economics and Finance, informed GB News this week that the Joe Biden administration has made a number of blunders with regard to energy policy and predicted that U.S. oil prices would probably rise to $100 per barrel.
Carney said, “I think oil will definitely hit $100 a barrel, and I don’t see any reason why it will go down. By releasing so much out of its strategic preserves right now, the Biden government made a big mistake. They are out of options. They pretty much used up all the bullets, so there’s no more oil that can be put on the market to bring prices down. The Saudis and Russians both want the price of oil to be close to $100, and that’s where it’s going.”
He went on to say, “Right now, the US is making a lot of energy. We could make a lot more, but the UK has, frankly, crippled itself on purpose, putting a hammer on its own knee, so it can’t make enough energy. It does not have to be dependent. It does not have to depend on Russia in particular. That was a huge economic mistake. We make so much compressed natural gas in the United States that we could supply all of Europe, including the UK. We should strengthen that relationship and make sure that we never have to count on Russia again.”
Carney also said, “Joe Biden won’t let the US grow to the point where it exports energy to other nations of the world because he has the same attitude that stopped energy production in Europe. It’s what he wants to do here. Trump has said that he wants to get rid of the restrictions that the Biden government has put on American energy production. So I do think that’s what Trump will do. It is likely his most important financial goal right now.”
