Strategic Petroleum Reserve

A motorist fills up at a Shell station on Monday, Nov. 22, 2021, in San Francisco, where regular unleaded gasoline was selling for $5.85 per gallon. President Joe Biden on Tuesday, Nov. 23, 2021, ordered 50 million barrels of oil released from America's strategic reserve to help bring down energy costs, in coordination with other major energy consuming nations, including India, the United Kingdom and China. (AP Photo/Noah Berger)

Top investor says prepare for $100+ oil price, $5+ gas this winter

A prominent investment manager said global oil prices will likely exceed $100 per barrel due to Joe Biden’s policies. Chief investment officer at Hayman Capital, Kyle Bass said Tuesday that Biden’s release of 50 million barrels from the Strategic Petroleum Reserve is “a quick shot of morphine for a major infection.”