“Incredible demand,” inflation, and shareholder pressure on oil supermajors to drastically cut emissions could lead to an oil crisis within three years, with very high oil and gasoline prices, David Tawil, president of Maglan Capital, told Fox Business on Wednesday. Tawil has been very bullish on oil for some time, and thinks that the prices could hit $100 per barrel soon. In the near term, oil prices have more room to rise, both from inflationary standpoint but also from demand standpoint, he told Fox Business. Oil prices are set to rise “consistently and considerably now into the end of the year,” Tawil said. Moreover, supply from the oil supermajors could be also coming off, due to shareholder and environmental pressure. In the United States, the Environmental, Social, and Governance (ESG) concerns, as well as the U.S. Administration’s push toward renewables and away from fossil fuels, would also contribute to […]