On today show we are looking at what seems like a huge paradox in the world of energy. On this show we look at energy from time to time. Why is that? Because energy is the economy. If the economy is cooking, then energy consumption will rise. If the economy is faltering, then energy consumption will fall.
There is normally a correlation between prices for gasoline at the pump and the price of crude oil. After all, gasoline is refined from crude oil so it only stands to reason that if oil goes up in price, then so too the price of gasoline should increase as well.
Gasoline prices are falling off at the pump in addition to following in the wholesale market, at the same time as we have seen an increase in the global price for crude. I’m not talking about the recent spike in prices as as result of the conflict between Hamas and Israel. Israel does not produce oil, nor does Hamas. But Iran does, and Iran is believed to be an architect of the attacks in Southern Israel. Saudi Arabia has cut back on production and so has Russia.
So what does this mean?
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Host: Victor Menasce
email: podcast@victorjm.com