Gas prices at the pump during the July 4th extended weekend were the highest they have been in six years. This, of course, has little to do with supply-and-demand economics. It has everything to do with supply-and-gouge profits.
|By: David Dayen Wednesday October 24, 2012 4:00 pm|
I recall hearing quite a bit from various governors that the US is the “Saudi Arabia of coal” or the “Saudi Arabia of wind,” or whatever natural resource they had in abundance. Now, according to AP energy writer Jonathan Fahey, the US verges on becoming the Saudi Arabia… of oil.
|By: David Dayen Monday October 8, 2012 4:16 pm|
Brad Plumer has a decent enough explanation of why gas prices have soared in California over the past week or so. Being a California resident, perhaps I can provide a bit more insight into how this has played out on the ground. Professor James Hamilton explains that a series of refinery and pipeline shutdowns, and [...]
|By: David Dayen Friday August 17, 2012 9:01 am|
Gas prices have shot up 30 cents over the last month, and stand at $3.71 a barrel nationwide, the highest level since mid-May. Rising oil prices and a refinery fire in northern California have caused most of the price increase, but some of this is also due to the possibility of an Israeli strike on [...]
|By: David Dayen Wednesday May 9, 2012 6:30 am|
In his continuing quest for intelligent life and hope, our intrepid reporter scans the universe for links to stories of interest, including Bank of America, David Brooks, Heartland Institute, fiscal cliff, gas prices, tax evasion, fracking regulations, Greece, marriage equality, underwear bombs, crazy Kansas or Sasha Boron Cohen and worse.
|By: Jon Walker Thursday April 19, 2012 4:15 pm|
The biggest Achilles heel for President Obama is the still extremely poor shape of the economy.
|By: David Dayen Thursday April 5, 2012 11:20 am|
House Democrats have continued their efforts to keep the notion of oil speculation driving the run-up in gas prices at the head of the national conversation.
|By: David Dayen Wednesday March 21, 2012 10:20 am|
Economists at the Federal Reserve Bank of St. Louis estimate that Wall Street speculation is now the second-largest contributor to oil prices, accounting for 15% of the increase in oil prices over the last decade – correlating strongly with the expansion of commodity trading and speculation in oil futures. This makes speculation perhaps the most fertile ground for actually reducing gas prices, but the Administration isn’t going there, preferring to promote more traditional supplies.
|By: David Dayen Monday March 12, 2012 9:30 am|
New polling numbers suggest rising gas prices are affecting Presidential approval. Despite trends that the public doesn’t outwardly blame the President for rising gas prices, looking at numbers that intersect with that, such as the President’s handling of the economy or his performance against his Republican challengers, it’s clear that gas prices are starting to matter.
|By: David Dayen Thursday March 8, 2012 10:16 am|
Speculators are a distant early warning system here, and they are telling the policymakers about an impending disaster should war with Iran come to pass.
But just because the speculators happen to be right about the impact of war with Iran on oil prices doesn’t mean that they should be given carte blanche to dominate the oil futures markets.