Biden Economy: Goldman Sachs Says Oil Prices Will Soar In 2022

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Oil prices will hit $100 per barrel in 2022, according to Goldman Sachs.

In a recent note, the investment bank pointed to “robust fundamentals” in the oil market and a “surprisingly large” oil supply deficit, according to a report from CNN Business. Nevertheless, Goldman Sachs pointed to a long-term “reluctance to invest in oil during the energy transition.”


Between November 2020 and November 2021, the average cost of gas increased from $2.01 to $3.40 per gallon in the United States. However, President Joe Biden’s allies have been emphasizing the smallest available signs of momentary cost decreases.

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