We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are life, liberty, and the pursuit of energy independence! That, to secure these rights, governments are instituted among men, deriving their just powers from the consent of the governed that demand the end of green energy madness in favor of drill baby drill and God given common sense.
That whenever any form of government has the right to pass a big, beautiful bill that can help stimulate the economy and reduce taxes which is a burden to free people when they are. Overtaxed in fact if memory serves me over taxation was one of the reasons why we separated in the first place. Regardless whenever any form of government becomes destructive of these ends, it is the right of the people to alter or to abolish it, and to institute new government, laying its foundation on such principles, and organizing its powers in such form, as to them shall seem most likely to affect their safety and happiness which is security and the possibility to live the American dream instead of being saddled with debt and inflation and instead have the ground work to achieve their become dreams.
Optimism is evident in the stock market today, with stocks reaching record highs as investors anticipate the passage of President Trump’s bill.
Additionally, the market is responding to perceptions that his foreign policy has reduced risks to supplies by addressing threats such as Iranian nuclear facilities, while also engaging in peace talks with Russia, Ukraine, Israel, and parties in the Gaza Strip.
And on the oil front as I said before the diesel prices continue to be the best performer as tight supplies in the United states as well in Europe is having a big impact there’s a lot of talk about the plunging oil production in Mexico which is very conducive to making diesel supplies but that has been a trend that’s been underway for some times the shortage in diesel is also being caused by the green energy movement as refining capacity has fallen in recent years because of the greenies.
The Dean of oil analyst Tom Kloza tweeted out t Don’t sell diesel short. Citi today warns that further spikes might be forthcoming. Factors inflating diesel include: Heat wave crimping Med refinery runs; Low global stocks; Some impediments in PG departures; Yield of just 27.8% in US; and too much light sweet crude worldwide.
The oil market is still disbelieved about the drop in gasoline demand. The market seems to be holding pretty solid when it comes to gasoline as we head into the 4th of July holiday driving holiday.
The season and expectations for demand will be adjusted accordingly. Many analysts believe that last week’s data on imports and exports was affected by the attack on the Iranian nuclear facility.
The reported a 3.8 million barrel rise in U.S. commercial crude oil inventories, now at 419 million barrels—9% below the five-year average. Motor gasoline inventories increased by 4.2 million barrels, standing 1% below the five-year average; both finished gasoline and blending components rose. Distillate fuel inventories fell by 1.7 million barrels, 21% below the five-year average. Propane/propylene inventories grew by 3 million barrels to 11% above the five-year average. Total commercial petroleum inventories went up by 9.4 million barrels.
In the past four weeks, total products supplied averaged 20.3 million barrels per day (down 1.1% year-over-year). Motor gasoline averaged 9.2 million barrels/day (down 0.1%), distillate fuel 3.7 million barrels/day (up 0.6%), and jet fuel was up 2.4% from last year.
prices are coming back through their senses as the market is facing record-breaking heat the last week and the possibility of more tropical activity in the Gulf of Mexico.
Fox Weather is reporting that tropically infused storms drenching Florida, Southeast through 4th of July weekend and beyond.
The National Hurricane Center says the future system has a medium chance of tropical formation, but even without a named storm, several inches of rain, dangerous rip currents and localized flooding are expected to impact the region through the holiday weekend and beyond. Fourth of July celebrations and beach plans in Florida and along the Southeast face interruptions as a weakening frontal boundary and the possibility of tropical development are expected to impact coastal regions for the foreseeable future.
The FOX Forecast Center said most of the precipitation across the Sunshine State so far has been tied to daily rounds of showers and thunderstorms, intensified by an upper-level low that has enhanced activity.
Over the next few days, a cold front will drop in and stall over the region and the warm waters of the southwestern Atlantic – a setup that could eventually lead to tropical development.
The National Hurricane Center has highlighted a region off the coast of the Carolinas, Georgia and Florida for a medium chance of tropical development over at least the next week.
NOAA’s Hurricane Hunters are scheduled to fly into the area of disturbed weather off the Southeast coast Friday afternoon to further investigate the atmospheric conditions over the region.