ENERGY

Oil prices were lower this morning, amid broad derisking after weak macro data and no immediate escalation in the Middle East.

API

• Crude -2.5mm (-800k exp)

• Cushing -2.0mm

• Gasoline +600k (+1.4mm exp)

• Distillates -2.1mm (-800k exp)

DOE

• Crude +1.23mm (-800k exp)

• Cushing -1.97mm

• Gasoline +1.16mm (+1.4mm exp)

• Distillates -2.54mm (-800k exp)

The official data showed a crude build (opposite to (more…)

Authored by Allen Zhong via The Epoch Times (emphasis ours),

The Department of Energy (DOE) released a watered-down finalized gas stove rule Monday after months of talks with industry groups and climate activist groups.

Flames burn on a gas stove in Chicago, Ill., on Jan. 12, 2023. (Scott Olson/Getty Images)

The final rule made several major revisions to the initial rule which was released in February 2023 and was widely reported as a gas stove ban.

The adopted rule allows (more…)

Authored by Kristen Walker via RealClear Wire,

The fourth quarter of 2023 was not good for Electric Vehicles (EV). Multiple manufacturers decided to curb or halt production. Ford in particular decided to cut their F150 Lightening Truck series in half. Roughly 4,500 auto dealers signed on to a letter petitioning the Biden administration to “tap the breaks” on its aggressive EV push, on account of EVs stacking up on dealer lots.

The new year is already off to a rough (more…)