ENERGY

Oil prices tumbled to 2 month lows as the war premium ebbed amid apparent signs that the Israel-Hamas conflict will remain contained, bringing demand fears back amid higher rates and a slowing global economy.

On the Middle East front, oil traders have "likely shifted into efficient market mode, waiting for signs of a definitive escalation that imperils supply before taking prices higher," Stephen Innes, managing partner at SPI Asset Management, said in market commentary. (more…)

Authored by Mark P. Mills via RealClear Wire,

This essay is based on the opening remarks delivered at a recent SOHO Forum Debate on electric vehicles.

If we could imagine a time machine bringing to New York City, an American citizen from the 19th century, odds are the one thing that would seem the most amazing about our time would be the proliferation of the personal automobile. Big buildings, big cities, roads, nighttime illumination would all be imaginable, even if different looking (more…)

Authored by Robert Rapier via OilPrice.com,

• Republicans and Democrats both have misconceptions about the energy sector, with the former often downplaying climate change and the latter misunderstanding oil industry operations.

• Oil prices are determined by global supply and demand, not by individual oil companies; thus, claims of oil companies causing inflation or gouging prices are misplaced.

• Implementing policies like windfall profits taxes on oil companies doesn't (more…)