ENERGY

Oil prices surged overnight, recovering all of yesterday's losses after EIA made substantial upward demand revisions in its monthly reports (again) to the highest in four years. This combined with renewed war premia amid continuing escalations in the middle east with further incursions by Israel into Gaza and threats from Iran calling for exports of oil and goods from Muslim nations to Israel to stop.

On the bright side, some foreigners and Palestinians were allowed to (more…)

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…)