WBAP recently asked Jay Young to come on the air in Dallas, TX to discuss the state of gas prices and the upcoming Memorial Day weekend. Young, a fourth-generation oil and gas professional and author of “The Upside of Oil and Gas Investing,” explained how supply and demand were behind the current prices at the pump.
As the number of people driving 50 miles or more from home over the weekend is set to increase by 78% compared to last year, a total of 43 million people will be driving on the roads. Gas prices are estimated to be cheaper as compared to the previous year by around a dollar a gallon. Young believes that demand may be down, but supply is up and that the current good gas prices are a short-term phenomenon.
Young is optimistic, however, that demand will soon pick up, leading to a higher demand. Young says that as the supply isn’t as strong as it needs to be, higher oil and gas prices can be anticipated by the end of the year. As the conversation went on, Young expressed his concern about the number of people transitioning to alternative energy sources and the current administration’s stance towards it. Young’s book, “The Upside of Oil and Gas Investing,” is available on Kingoperating.com, where all proceeds go to the military.
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