Surging Oil Adds to Sunak’s Election Timing Woes mdi-fullscreen

Slow economic growth with inflation – stagflation – could result from the surging price of oil. Markets are mesmerised by the thought that as we go into winter in the Northern hemisphere oil is heading towards $100-a-barrel. The chart above shows Brent crude is in the mid-nineties as the Saudis are determined to push prices higher. The US is now insulated by domestic fracked shale oil supplies and the dollar has become a petro-currency as a result. Campaigners today again won permission for yet another hearing to challenge and delay the go-ahead to build the Sizewell C Nuclear Power Station. Thanks to anti-frackers, anti-nuclear campaigners, and Net Zero zombies, Britain’s energy insecurity has increased. 

Oil prices will add to the political miseries facing Sunak as he decides whether to go for a May election before things get worse, or play it long in the hope that things get better. He’s caught between an unfracked rock and a hard place…

mdi-tag-outline Market Watch Markets Nuclear Sizewell C
mdi-account-multiple-outline Rishi Sunak
mdi-timer September 18 2023 @ 15:28 mdi-share-variant mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-printer
Home Page Next Story
View Comments