Even as Oil Prices Ease, U.S. Keeps Tapping Strategic Reserve
“Previously the mantra was ‘We’re not here to manage markets, we’re here to manage physical shortages,'" said energy fellow Mark Finley about Biden's move to tap the Strategic Petroleum Reserve to reduce gas prices.
Midwest Gasoline Prices Surge Following Deadly BP Refinery Fire
Following a deadly refinery fire in Ohio, Midwest gasoline stockpiles are close to record lows. Energy fellow Mark Finley told Bloomberg that the resulting price increases have an “outsized economic impact beyond their direct hit to gasoline demand.”
Blockbuster U.S. Diesel Demand Belies Recessionary Worries
Although recessionary forces indicate diesel demand will be lower this winter, heating demand might offset this slowdown in the U.S. Northeast, said energy fellow Mark Finley.
Falling Oil Prices Defy Predictions. But What's Next?
“The price of fuel is not that big a deal,” said energy fellow Mark Finley, "but if you look at its impact on consumer confidence, it seems to be a proxy for how you feel about the world in general.”