Relevant and even prescient commentary on news, politics and the economy.

Oil prices – 7 year high, the longest string of weekly gains on record

Oil prices at 7 year high after longest string of weekly gains on record, Focus on Fracking, Commenter and Blogger RJS Oil prices rose for a record 9th consecutive week to a fresh 7 year high following across the board withdrawals from US oil & product inventories . . . after rising 3.7% to a […]

US crude supplies at 35 month low; Total oil and product supplies at 6 1/2 year low

Commenter and Blogger RJS adds more detail to what I would suggest is a coming shortage of oil and oil products. Focus on Fracking US crude supplies at a 35 month low; total supplies of oil and all products made from it at a 6 1/2 year low… US oil data from the US Energy […]

Gasoline and Natural Gas Supplies, Alaska drilling

Gasoline supplies at a 42 month low; natural gas supplies still 16.5% lower than a year ago; offshore Alaska drilling resumes; Commenter Blogger RJS, MarketWatch 666 This Week’s Rig Count Number of drilling rigs active in the US increased for the 40th time out of the past 47 weeks during the week ending August 13th, […]

Rising Oil and Natural Gas prices at 32 month and at 29 month highs

RJS at Marketwatch 666 reviews oil and natural gas pricing, June 28, 2021 Oil Pricing Oil prices set a new 32 month high for a fifth consecutive week, as negotiations to lift Iranian sanctions broke off and US crude supplies fell more than was expected for a fifth straight week. After rising 1% to $71.64 […]

The oil industry is undergoing a major structural change.

Lifted from comments from this post US to be leading producer of oil is Spencer England’s comment about structural change in the oil markets. Obvious to some but bears repeating for a lot of us, as we discuss environmental issues or gasoline prices in the media more than structural economic impacts: Spencer says: The development […]

US to be leading producer of oil?? What does that mean?

Lifted from a note on energy from Reader rjs comes a link filled narrative on oil and production issues for oil.  He deals with one aspect of drilling for “energy independence”. From reader rjs: Saudi America? The release of this year’s edition of the World Energy Outlook from the IEA (International Energy Agency) received quite a bit […]

Oil prices and consumer spending.

With the recent surge in oil prices I thought it would be useful to look at the potential impact with one set of data I watch. It is energy as a share of personal consumption expenditures or consumer spending. In the 1970s energy consumption rose from about 6% to 9% of spending, or about 50%. […]

The UK faces a serious inflation issue if oil pops!

Bond markets are pricing in rate hikes this year by the ECB and the BoE. Both are inflation targeters, so which one should react first to a possible spike in oil prices? What’s your answer? (1) Neither. As FX appreciation and fiscal austerity pass through to domestic prices, the core will drag down the headline. […]