The ‘Real’ Russia Collusion: Oil

Russian collusion is indeed a major issue threatening the well-being of our country. It’s just not the Russia collusion that’s been bandied about in the news for over a year. No, it’s Russia colluding with OPEC to intentionally raise world crude oil prices. That is a real threat to our economy and living standards, unlike that other, totally imaginary Russia collusion. In case you haven’t been paying attention, crude oil prices have been on an upward tear for the better part of the last two years. From a low in the high-20’s/barrel range in February of 2016, WTI (West Texas Intermediate) closed at $65.45 on Friday Feb 2nd. Goldman Sachs goes so far as to say that North Sea Brent crude oil (the other benchmark oil besides WTI) will likely top $80 within six months. WTI generally runs about 5% lower, so look for WTI to be around $76/bbl by the summer of 2018. Before we look at why this is happening, it’s a good idea for a quick refresher on...(Read Full Article)

COMMENTS ON AMERICANTHINKER