Oil prices to sky rocket
Oil reserves are now at their lowest levels in nearly 40 years. And that's leading to serious consequences for Americans and the energy industry as a whole.
First, look at this chart of the U.S. Strategic Petroleum Reserve...
It's clear that the U.S. government dramatically drained our reserves to keep prices down. Now, it has no choice but to replenish them.
The government started this process in December. And since then, gas prices are already up 11%.
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