ENERGY

What would an OPEC+ meeting week be without the parade of strawman, market-testing headlines dropped to gauge traders' stress levels.

OPEC is set to hold an online meeting on Thursday, ahead of OPEC+ meeting later in the day to decide future oil production policy, a source said according to Reuters.

The meeting, which was postponed two days ago, is rescheduled at 4:00 PM KSA on Thursday according to a draft agenda seen by the news agency.

This morning, Reuters reports (more…)

Gasoline prices are on the way down, and we are seeing a lot of chatter from people who are convinced this is political.

After all, we are headed into an election year, and lower gasoline prices certainly help politicians get reelected.

But, neither President Biden (nor his actions) are not why prices are falling, and as the chart below shows, gasoline prices at the pump remain 20% above their 10-year-average for this time of year…

The underlying price of oil is the single largest factor that drives gasoline prices, but there is a seasonal factor behind the changes in gasoline prices.

In fact, as Robert Rapier explains below, via OilPrice.com, gasoline prices fall almost every year between August and November.

As someone whose job it once was (more…)

Authored by Michael Washburn via The Epoch Times (emphasis ours),

Since Texas weathered its second-hottest summer on record and faced unprecedented demands on its power grid, the future of energy supply and use in the state—and across the country—has become the subject of national discussion. Air conditioners were in constant use in Texas over the summer as average temperatures reached 85.3 degrees between June and August and didn't dip below 100 degrees for weeks on end in some (more…)