ENERGY

Oil prices are higher this morning (with WTI topping $70 for the first time in three weeks) following an across the board inventory draw reported by API overnight. Additionally, concerns over supply strained by U.S. sanctions on Iran and Venezuela are also supporting the commodity.

The upside for oil prices from the U.S. actions is likely limited by coming supply additions as OPEC+ will begin to return 2.2-million barrels per day of production cuts in 18 monthly tranches starting in April, (more…)

President Donald Trump is imposing a 25% 'Secondary' tariff on Venezuela, and a 25% tariff on "any Country that purchases Oil and/or Gas from Venezuela," payable to the United States "on any Trade they do with our Country."

Trump cited "the fact that Venezuela has purposefully and deceitfully sent to the United States, undercover, tens of thousands of high level, and other, criminals, many of whom are murderers and people of a very violent (more…)

Authored by Daniel Turner via RealClearEnergy,

The Biden Administration spent hundreds of billions of dollars to push renewables, and the result was a 30% increase in national utility prices. And yet, despite producing, (intermittent and expensive) electricity, no amount of wind and solar can make rubber or plastic or the millions of products we use, nor can they forge steel or produce cement. Yes, we need more electricity, but the Biden team was determined to be anti-fossil fuels in (more…)