As such, Goldman reiterates its view - discussed here yesterday - that only demand destruction - through even higher prices - is now likely the only sufficient rebalancing mechanism, with supply elasticity no longer relevant in the face of such a potential large and immediate supply shock.''….Back to 1973, for all you who missed that.
Tuesday, March 1, 2022
Zero Hedge Oil Hits $110 As Biden Begins SOTU Address; Goldman Says Emergency Oil Release Won't Do Jack
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Only leaves a deep recession now as a "cure" for high oil prices. And the Fed may add the finishing touch.
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