December 2, 2021
PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia discussed the market numbers for the week, as well as the future of oil under the current administration.
Celia stated, “The market was all close to positive territory on Thursday. As we head towards the end of the week, we see oil also closed in positive territory. Brent crude is finally back up to $70 a barrel and West Texas intermediate is at 67 and headed towards 70. Oil continues to rise.
“Apparently the Organization of the Petroleum Exporting Countries (OPEC) meeting is over and OPEC has agreed to stick to January output levels. So back in March, OPEC declared that they were not going to raise any kind of output until at best January of 2022. Now the big question has been, are they going to stick to that? Apparently, yes, they are. But they are talking about producing more oil.”
Celia continued, “It is sad, no matter how you look at it, that we have an administration that is desperately trying to get us dependent upon foreign oil again. OPEC has been dictating our gasoline prices since 1970, and it wasn’t until Donald Trump that that all stopped. But this president is determined to get us back on foreign oil. Maybe it’s a way of apologizing for our exceptionalism, but nonetheless oil prices did rise slightly. If OPEC does increase output in January, as they say they will, then that’s going to be good for oil prices globally. And that may be good news—I guess.”
Celia discusses these and other global and economic headlines on his daily, three-hour “Financial Issues” program, heard on more than 660 radio stations and several television networks nationwide, including FISM.TV, viewed on several post-cable television platforms and online.
Read more about Celia, FISM and “Financial Issues” or visit the FISM website, its Facebook page, on YouTube at Financial Issues with Dan Celia or on Twitter @financialissues; download the FISM app here.
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