Spot gasoline is dear. The market is screaming at the refiners to start processing gasoline and sell into the backwardation. Failure to take advantage today and the refiners run the risk of chasing the curve lower as we move out along the x-axis… not to mention they risk of the wrath of media savvy politicians should downstream inaction lead to higher prices at the pump for Americans through this summer and into hurricane season.
- OPEC 'Stays the Course', Hopes for High Prices
- Don't Call it a Cartel Say OPEC Ministers
Carbon Report: One Battle Over - The U.S. House of Representatives’ Energy and Commerce Committee approved new climate change legislationbefore the Memorial Day recess. A Bigger Battle Ahead: While committee Chairman Henry Waxman was successful in getting the bill thru his committee in eight weeks, a much bigger challenge lies in getting the bill passed by the full House and the Senate.
As The Schork Reporthas analyzed, Senate Democrats chose not to put climate change on a filibuster-proof fast track, so any legislation will have to get 60 votes for passage. Many moderates in the House want to see action in the Senate before they vote for the bill. Climate change and energy independence are not the top issue for most Americans who are struggling with the recession and concerned about healthcare.