US, Allies Agree To Implement Russian Oil Price Cap Plan
If Russia responds to the attempted price cap by cutting oil production [they already have], experts have warned prices could skyrocket. In the worst-case scenario, analysts at JPMorgan Chase said oil could shoot up to a “stratospheric” $380 per barrel. Oil prices are currently hovering around $100 per barrel.
How do higher oil prices prevent a worldwide recession?! Did the Biden Administration even think this through?! 🤯