Crude Exports Should Start Soon

If the subject were export of materials such as scrap iron, timber, iron ore or electric power, there would be no political backlash.  Indeed, improvements in our balance of payments and the creation of even a few jobs would be applauded.  But for crude oil exports, it’s different. A rational and public consideration of crude […]

Crude Oil Release: Low Budget Shock & Awe

A surprise release of 60 million barrels (30 million from the US) pushed crude oil prices down for a little while yesterday.  Already prices are recovering and some think prices will tend higher than they would absent the surprise.  The obvious question is why deplete our Strategic Petroleum Reserve (SPR) when there’s no actual emergency? […]