Energy

Energy price volatility, which may be with us for quite some time as we pursue decarbonization, is one of our nation’s greatest macroeconomic threats.

Since the White House’s historic commitment on October 18th to repurchase crude oil “when the price of West Texas Intermediate (WTI) crude oil is at or below about $67 to $72 per barrel”, oil prices have never traded lower than they have today (November 21st). Oil prices were within

This is the fourth piece in the Contingent Supply series, which looks at the operational requirements, financial needs, and economic opportunities involved in using the SPR to stabilize oil markets.

As the Biden Administration considers actions to lower oil prices (particularly in wake of the recent OPEC+ production cut), it can and should make every effort to boost domestic oil production.

September headline CPI inflation will likely come in near the consensus forecast of 0.2% as gyrations in commodity markets slow. In our view, upside risks weigh more heavily to the non-core components of inflation relative to consensus because of how the ‘Russia shock’ affects a number of food

This is the second piece in our Contingent Supply series, which looks at the operational requirements, financial needs, and economic opportunities involved in using the SPR to stabilize oil markets.

The administration’s recently proposed regulation for flexibly refilling the SPR is a welcome policy change with serious potential to deliver price and supply stabilization benefits.

When we disaggregate the aggregate inflation statistics, we find that the sources of high inflation in the US and Europe are different.

July headline inflation is likely to come in roughly in line with the consensus forecast at 0.2% with the possibility of a mild downside surprise. Core inflation will likely be in line with forecasts as well at 0.5%, and is poised to cool further in coming months.