ENERGY

Authored by Anne Johnson via The Epoch Times (emphasis ours),

As a result of California Governor Gavin Newsom’s executive order, gas-powered vehicles will be banned by 2035. This refers to new vehicles and existing gas-powered cars and trucks that will be allowed on California roads for the moment.

Other states are following California. But with electric vehicles (EVs) comes an investment. What are the economic ramifications of banning gas-powered vehicles? Can California afford it? Can (more…)

Authored by Charles Hugh Smith via OfTwoMinds blog,

Balancing globalized trade and capital flows with domestic self-reliance and control of credit and capital is a positive development for everyone.

This week's focus is on self-reliance, a topic of increasing relevance than is more complex that it may seem.

The flip side of the decline of hyper-globalization is the rise of national self-reliance. We can see this dynamic expanding in real time across the globe, (more…)

Oil prices extended gains from yesterday afternoon's rebound, helped by a big draw at the Cushing Hub reported by API. Escalating risks in the Middle East are competing with IEA's forecast that the market will be well-supplied this year (the US is at record production and global economic activity slows), which is at odds with OPEC's forecast of a large shortfall.

The inventory/demand/supply data may give us an early glimpse at who will be right?

API

• Crude (more…)