In The News

Wednesday, 06/15/2022

June 15, 2022 – S&P Global

Biden seeks helps from US refiners to increase gasoline, diesel supply

By Janet McGurty

Policy-driven refining impacts

The AFPM, like other oil industry groups, puts much of the onus for the shutdown of refining capacity on US government policies, geared to phasing out petroleum use.

Chevron CEO Mike Wirth, speaking at the Bernstein 38th Annual Strategic Decisions conference on June 1, expressed his company's view, one which is echoed by other US refiners.

"We live in a world...

Thursday, 06/02/2022

June 2, 2022 – Wall Street Journal

Red-Hot Coal Prices Threaten Even Higher Power Bills

By Ryan Dezember

Normally the fix for high coal prices is to switch to burning more natural gas, which is the leading power-generation fuel. But gas prices have popped up since the pandemic, for reasons similar to coal. U.S. natural-gas futures are up 127% so far this year and have been trading at their highest level since 2008.

High prices for both coal and natural gas have obviated the need for fuel switching among power producers and made for fairly...

Wednesday, 06/01/2022

June 1, 2022 – Reuters

U.S. light, heavy oil-price spreads widen as gasoline demand grows

By Arathy Somasekhar

Gasoline-friendly light sweet WTI Midland priced at East Houston, called MEH, has averaged a $1.40 per barrel premium to U.S. West Texas Intermediate (WTI), compared with a 96-cent premium in the year-ago period, as exports to Europe climbed.

The spread between Midland and heavy Western Canadian Select (WCS), priced in Houston, widened to about $12 a barrel by late May from around $8 at the start of April, data from ...

Saturday, 05/28/2022

May 28, 2022 – Wall Street Journal

Bottleneck Fuels Record-High Gas Prices

By Christopher M. Matthews and Peter Santilli

The closures were exacerbated by a punishing hurricane season in the Gulf of Mexico, home to the world’s largest petrochemical complex, that damaged some refineries there. Some companies are performing maintenance on their refineries right now, keeping even more capacity offline. The utilization rate for U.S. refineries is at about 90%, according to the EIA, at the top of the five-year range.

All of that is pushing...

Monday, 05/23/2022

May23, 2022 – CNBC

As long as there’s a war in Ukraine, we’re not going to see oil under $100/barrel, says RBN Energy’s Braziel

Rusty Braziel, RBN Energy founder and executive chairman, joins the ‘CNBC Special: Inflation and your stocks’ to discuss high gas prices and how they’re impacting all aspects of the economy.

Watch the video here: