ENERGY

Authored by Jonathan Lacalle,

Oil prices are soaring, and, as always, we read in many articles that OPEC and Russia are to blame. However, if OPEC and its allies were almighty and the drivers of oil prices, why have Brent and West Texas Intermediate (WTI) crude plummeted in 2022? OPEC only reacts to demand, but it is not a price-setter. It is a price-taker.

WTI is up 13% year-to-date, but it only started bouncing in May. WTI is only up 6% in the past year. At (more…)

Oil prices in the US jumped back above $90 a barrel for the first time since November 2022, sending worrying signals to The Fed and The White House.

The surge in WTI has dragged gasoline prices at the pump dramatically higher and worse still, given the lag in the supply chain, pump prices look set to go higher…

Source: Bloomberg

Despite the end of the peak summer driving season, gas prices, which were already a factor in pushing up inflation in August, will likely (more…)

Authored by John Murawski via RealClear Wire,

As the Biden administration and governments worldwide make massive commitments to rapidly decarbonize the global economy, the persistent effort to silence climate change skeptics is intensifying – and the critics keep pushing back. 

This summer the International Monetary Fund summarily canceled a presentation by John Clauser, a Nobel Prize-winning physicist who publicly disavows the existence of a climate “crisis.” The (more…)