I want to point out the below reasons that might lead to a 200$/b oil:
By 2050 EIA forecast Brent oil prices of $105/b.
Carbon taxes have ,which most probably will increase under a Biden administration, as a way to stop climate change and raise more awareness. Without shadow of a doubt they would raise oil prices too high, imposing a regressive tax on the poor.
Will update on more incoming information
- Projected to average $53/b in 2021, according to the U.S. Energy Information Administration's (EIA)
Oil prices started strong this year at $64/b in January
The demand for oil has dropped because of the coronavirus pandemic
A democratic government which will probably legalize new measures to fight climate change
EIA estimates global oil increase by 5.6 million b/d in 2021 and 3.3 million b/d in 2022
By 2050 EIA forecast Brent oil prices of $105/b.
Carbon taxes have ,which most probably will increase under a Biden administration, as a way to stop climate change and raise more awareness. Without shadow of a doubt they would raise oil prices too high, imposing a regressive tax on the poor.
Will update on more incoming information
thank me later