JoshYoung oil Europeanenergycrisis Higher oil prices are coming in 2023, European energy crisis is not over - Josh Young
- The WTI crude oil price has fallen 40 percent from their peak of $123 per barrel in March, but don't expect them to keep falling, said Josh Young, CIO of Bison Investments. Young, who spoke to David Lin, Anchor and Producer at Kitco News, claimed that oil prices will keep rising in 2023.
He added that even with the possibility of a severe recession in 2023, oil prices won't remain lower. "In countries that have shifted to a high percentage of electric vehicle adoption, their per capita oil consumption is actually not down," he said."A shift to electric vehicles, I don't think, would solve the likely oil shortage that we're going to experience in the next number of years.""They're just charging their batteries with coal, oil, or natural gas, or in some cases wind and solar," he said.
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