Oil
Introduction Although the full repercussions of the Silicon Valley Bank (SVB) collapse are not yet clear, considerable uncertainty is driving market volatility and an uncertain economic outlook. Should markets drop further, the SVB fallout could reverberate all the way into oil prices. Despite the Federal government’s support for depositors,
Today, the Department of Energy (DOE) announced that it will conduct a “pilot” acquisition of three million barrels of crude oil using the SPR’s new authority to engage in fixed-price contracts. It’s a good start to make sure that the DOE is ready to fulfill the President’s
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.
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.
Recent developments in oil markets show how important it is to follow through on the second half of the SPR strategy.
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.
The long-term goal of energy policy should encompass more than just security and decarbonization: the goal should be to ensure energy capacity abundance and stable energy cost.
