Global energy markets face massive disruption following the closure of the Strait of Hormuz. Thirty two nations are releasing 412 million barrels of oil from strategic reserves. This historic action seeks to mitigate soaring fuel costs. Supply chains require immediate stabilization. The United States contribution will reduce domestic stockpiles to 34% capacity. These emergency measures provide temporary relief against extreme market volatility during current combat.
oil
Florida Gas Average Up 29 Percent In Two Weeks
Pump prices in Florida increased 27 cents over the past week and have grown 82 cents since the on-going war with Iran began. In Palm Coast, gas on Monday was selling for $3.75 at Wawa and $3.99 at RaceTrac on State Road 100, with different stations offering $3.75, $3.79, $3.89 and $3.99 along Palm Coast Parkway, according to GasBuddy.
Low Gas Prices Are Great For You and Me. For World Security? Not So Much.
Banditry, corruption and tyranny from Saudi Arabia to Iraq to Russia depends on high oil prices. As prices fall, the bandits in charge will quarrel more among themselves – and with their neighbors.
Florida Beaches Stay Open Despite Tar Balls and Sicknesses
Despite EPA warnings that some Florida beaches may be unsafe, people are taking to them–and getting sick.
100,000 Barrels Per Day? The Internal Document that Contradicts BP’s Claims on Oil Flow
The 100,000-barrels-per-day scenario contrasts sharply with BP’s public pronouncements of a much smaller spill rate.