Goldman Sachs Predicts $100 Oil As Renewable Transition Falters

This week, Goldman Sachs raised its oil price target to $100 again. The bank cited lower OPEC output combined with higher demand, which taken together, "more than offset significantly higher U.S. supply." The average gas price in the U.S. on September 20 was $3.875, slightly lower than a day earlier but $0.20 higher than a year ago. Even with higher gas prices, EV purchases have slowed down instead of rising.  In Europe, the deindustrialization of Germany is no longer news, the car industry is bracing for a Chinese EV rush,…