DAGEN: -- PECK TO METE
TOMORROW TO DISCUSS MONTHLY
OIL OUTPUT OIL UP MORE THAN
55% LAST YEAR BEST SINCE 2009.
AMERICANS FACING PAIN AT THE
PUMP RISING PAIN AT THE PUMP
INCREASED BECAUSE OF INCREASE
IN GAS PRICES, NATIONAL
AVERAGE TODAY 3.29 A GALLON,
AND WILL WE SEE FOUR BUCKS A
GALLON ON AVERAGE THIS YEAR
JOINING ME GASBUDDY HEAD
PETROLEUM ANALYSIS WHERE IS
GAS TO GO TO TO PEAK AT WHAT
PRICE?
AND WE?
.
>> I THINK WE COULD SEE THAT
NATIONAL AVERAGE HIT 4 DOLLARS
A GALLON SOMETIME APRIL TO MAY
TIME FRAME USUALLY WHEN WE
HAVE CULMINATION OF FACTORS
LEADING TO HIGHER PRACTICES OF
COURSE A SWITCH TO SUMMER
GASOLINE RISING FLAN AS WE
CONTINUE DO RECOVER FROM
OMICRON COULD GET THERE THIS
YEAR.
>> KEN MAHONEY JUMP IN.
>> WE GO FROM ENERGY NPZ TO
ENERGY DEPENDENT 12 MINUTES,
YOU TALK 24 HOURS LATER ASKING
MEMBERS TO PUMP MORE SUPPLY
FEELS LIKE FOREN TAX TO
CONSUMERS AT THE END OF THE
DAY OUR TECHNOLOGY NOT THERE
FOR RENEWABLES TWO-YEAR WINDOW
BEFORE MIDTERM ELECTIONS IN
AND OUT AFGHANISTAN, TO FOSSIL
FUELS, WE KNOW WE CAN BE
ENERGY-INDEPENDENT LOOKS LIKE
BEING 4.50 YOU THINK THAT WILL
MAKE ADMINISTRATION LOOK AT
SOME OF THESE SUPPLY CHAINS
THAT WE HAVE IN OUR OWN
COUNTRY?
>> WHEN IT COMES TO PIPELINE
CAPACITY WE ARE ALREADY SEEING
EXISTING PIPELINE THERE WAS A
BOOM IN LAST DECADE A LOT OF
GOOD PIPELINES NOT UTILIZED
PROBLEM AS YOU POINT OUT
SIMPLY OIL PRODUCTION OPEC
MEETING, LIKELY, AGREE TO
INCREASE PRODUCTION BY FURTHER
400,000 BARRELS A DAY AS EVERY
MONTH SINCE JULY OPEC IS
TURNING TO POINT RUNNING OUT
CAPACITY AS CONSUMERS GET BACK
TO NORMAL PENT-UP GALLON FOR
GASOLINE LIKELIHOOD BEHIND WHY
OIL PRICES COULD GO UP TO
TRIPLE DIGITS TEMPORARILY
ATTRACT ADDITIONAL OIL SUPPLY
BY LATTER 2022 I THINK A FRONT
PROBLEM END LOADEDIER AS IF
PRICES HIGHER IN FIRST HALF
BEFORE WE SEE REEF IN THE
SECOND HALF, STILL, THAT COULD
TAKE SOME STATES LIKE
CALIFORNIA OVER 5 DOLLARS A
GALLON COULD BE AGAIN, TO HAVE
MOST STATES RIVAL THEIR 2008
RECORD HIGHS IN LOW FOUR
DOLLAR RANGE.
DAGEN: WHAT ABOUT THE PATH
TOWARD HIGHER ENERGY PRICES TO
AGAIN TO INFLATION HIGHER
PRICES FOR TRANSPORT MEANS
HIGHER PRICES OF END GOODS.
>> ABSOLUTELY ENERGY IS BIG
COMPONENT, IN WHETHER WE’RE
GOING WITH INFLATION SO IF
ENERGY PRICES DON’T GET UNDER
CONTROL NATURAL GATHER OIL WE
CONTINUE TO SEE IT CONTRIBUTE
TO OVERALL RISE IF INFLATION I
THINK THAT IS GOING TO BE HARD
PART WE PROBABLY WILL
CONTINUE, TO SEE CPI GO UP ON
HIGH ENERGY PRICES UNTIL WE
SEE REEFS IN PRICE OF OIL
COULD HAPPEN LATER THIS-YEAR
HIGH PRISONS ANTICIPATING WILL
EVENTUAL LEAD TO ADDITION
PRODUCTION BY THE END OF NEXT
YEAR.
>> WITHOUT ADDITION PRODUCTION
IN UNITED STATES, THE BIDEN
ADMINISTRATION DID EVERYTHING
THEY POSSIBLY COULD TO
DISCOURAGE THAT.
>> WELL ABSOLUTELY, THEY DID,
I THINK THEY REALIZED PART OF
THE MISTAKE WAS DEPARTMENT OF
INTERIOR ACTUALLY RELEASING
MORE PERMITS IN BIDEN’S FIRST
YEAR, THAN TRUMP I THINK
BACKLOGGED A LOT WHAT BIDEN
HAD COME IN STRONG ON, ARJ THE
MARKET EARLY ON KIND OF
WORRYING THAT RAMIFICATIONS TO
OPPOSITE THE PRESIDENT
PRESENTED, I WOULD LOOK FOR
SLOW UNDOING OF SOME POLICIES
AS WE PROGRESS HIGH ENERGY
PRICES PRESIDENT ROIFSDZ HAS
TO LOOSENING HIS TONE.
>> 4 DOLLARS A GALLON RECORD
HIGH WAS 4.11 IN JULY 2008,
RIGHT.
>> THAT IS RIGHT GETTING VERY
CLOSE COULD BREACH THAT THIS
YEAR.
>> I SHAKE MY HEADED SAW IT