The World Bank is warning oil prices could jump as much as 75% if the war between Israel and Hamas spills out into a broader conflict across the Middle East. Alan Rappeport, economic policy reporter for the New York Times, joined CBS News to discuss the ongoing financial concerns stemming from the war.
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15 Comments
thank obama/biden regime
Petrodollar doomed..
Same with greenback
Good, I own stock in all the major energy corporations.
If you think that's bad, listen to Arthur Berman sometime. I bought a bike after I did.
because you know how Palestine and Israel are the BIG OIL Producers in the world and how it will disrupt the distribution and production for all the world's oil resources. ….. Any Reason At All to Raise the Price of OiL to keep the poor people poor and make the rich people richer. see why we need to quit oil? sun and wind will save you
75% increase just in time to refill strategic oil supply. Hope the price will make you think before voting.
I'll ride a bike to work.😂
WHO WOULD HAVE THUNK ?
Excellent news coverage!
They knew damn well they would raise them anyway, just looking for an excuse. This world man.
I'm going to start walking to the store.🤔
What BS.
America is the largest single country producer of oil in the world.
Texas produces 46 of all US oil and by its self is the 4th largest producer in the world. We export almost 40% of our oil and oil byproducts. OPEC said weeks ago that it would reduce production by 1 million barrels a day to raise prices. Texas and other USA oil companies are doing similar reduction of production. We need to put pressure on US oil companies.
Sucks man. Shouldn't have surpressed over 100 years of technological advancement just to make record breaking profits on an annual basis. Electric cars were on the market before gasoline engines.
And this will result in gas prices getting raised preemptively
One more solid reason to switch to renewables as fast as humanly possible. Leave the Middle East with no income and no way to make it while the rest of the world thrives.