As share of total diesel+heating oil+gasoline consumption volume (a somewhat strange measure to me, but probably gets the idea across), from Nate Silver:
As share of total diesel+heating oil+gasoline consumption volume (a somewhat strange measure to me, but probably gets the idea across), from Nate Silver:
The felon-in-chief said he wants to ban diesel exports for 90 days. The Energy Secretary said it’s a bad idea. Unnamed officials say the details if a ban are being worked out. The White House officially maintains otherwise.
https://thehill.com/policy/energy-environment/6107064-white-house-diesel-export-ban/
In other words, there’s no actual policy, just a bunch of people jockeying to convince the felon whether to ban diesel exports. Policy making at its best.
http://www.wsj.com/politics/policy/behind-the-oil-and-gas-industrys-blitz-to-try-to-defeat-a-diesel-export-ban-4e64d7f5?mod=hp_lead_pos6
Big Oil opposes this export ban.
The crack spread is not at a record, but it’s close, well above the level reached at the beginning of Russia’s war on Ukraine:
https://rbnenergy.com/market-data/3-2-1-crack-spread
That’s where much of little Antoni’s “after-tax profits from American manufacturers are booming”. Profiteering by oil companies reduces profits for the users of petroleum products. A real economist would know that.
U.S. profiteer and everything negotiator Witkoff has met with Iranian Foreign Minister Araghchi while in NY for the UN General Assembly, at Witkoff’s request. Apparently, the war-criminal-in-chief administration is interested in bringing the war on Iran to a peaceful resolution, despite all its threats of more war crimes. Iranian news outlets report that Araghchi layed out Iran’s conditions for opening the Strait of Hormuz, which “…include the immediate lifting of the naval blockade and the immediate release of all frozen Iranian funds…The Iranian source also stressed an end to the war across all resistance fronts as another condition for reopening the strategic waterway.”
Iran is also signaling a shift from attacking ships which violate its rules to fining them:
“Iran sets penalties for ships violating Hormuz transit rules… violators could face fines equivalent to 20% of their cargo or its value, as well as temporary detention until the penalty is paid.”
Much of this is not new, but it does clarify the current state of play. The war criminal is looking for a way out, and Iran is insisting on normalizing its control over Hormuz.
https://english.almayadeen.net/news/politics/araghchi-conveys-iran-s-conditions-for-reopening-hormuz-to-w
Six weeks is too short a time to hope for much change in the current situation, which probably explains the war criminal’s insistence that Iran will sue for peace once the midterms are over. By most estimates, the U.S. inventory crunch is due sometime not long after election day. Even if the war criminal is right that Iran is eager for resolution, waiting for the U.S. to suffer a physical shortage of petroleum seems a likely negotiating tactic.
Looking at the map, makes me think that Thomas Frank needs to write a book, What’s the Matter with West Virginia? Some demographics – West Virginia has an estimated population of 1,766,147, a 1.5% decrease since the 2020 federal census. West Virginia has one of the oldest populations in the country, with a median age of 42.7 years with 22.5% – 65 and older. About 90% white with a median household income of $59,608 and 16.7% of the population lives below the poverty line.
Trump, Witless, and “I’m NOT the Sec of State and not involved” Rubio should listen to Iranian Foreign Minister Abbas Araghchi: On regional stability: “Sustainable security in the Middle East cannot be dictated from outside the region… it can be achieved through dialogue, trust-building, cooperation and mutual respect among the countries of the region, not through the military presence of foreign powers.” and Iranian President Masoud Pezeshkian: On defending Iran: “We have only defended ourselves. We are not terrorists… Yes, they did hit us, but we did not bend the knee.” On U.S. pressure: “He [Trump] must know that the resistance of the Iranian people will only increase in the face of sanctions, increased pressure, increased bullying and “It must be understood by Mr. Trump and those who seek to bully us that we are ready for dialogue and diplomacy and negotiations without accepting the language of force.” (in other words – the US has lost the war and must accept Iranian terms for the settlement.)
MbS must be rueing the day – Witkoff and Kushner showed up at the front door of his palace with false promises of protection and now are no where to found when the Ansarullah are knocking down the back door to his kingdom.
http://www.bea.gov/news/2026/us-international-transactions-and-investment-position-2nd-quarter-2026
Current account deficit widens even though exports rose. But imports rose more.
One thing the world may eventually thank Trump for – accelerating the rest of the worlds transfer to EV and alternative energy.
https://www.semafor.com/article/09/24/2026/european-ev-sales-jump-50-amid-soaring-fuel-prices
It will kill off the US car industry – which has completely lost the plot of the future – but it will be good for everybody else.
in texas, maybe it is time for the voters to tell the Republican Party something important: pick good candidates. Paxton is a turd, and most everybody in texas knows this. except for the Republican Party leadership in texas, who still believe it is ok to nominate crackpots like Paxton. maybe it is time for the republican voters to say enough, we tow the party line, but only when you give us quality people. could Paxton be the one who finally gets the republican voter to say enough? even if you are a die hard republican, how in the world could you vote for such a corrupt felon as Paxton? we are about to see if there is a line at which voters will not cross on the republican side. sounds like that has already occurred with Bo French.
Not so; the Republican Party in Texas was 90% aware that Paxton was a turd. But Trump weighed in, and as noted elsewhere (https://www.politico.com/news/2026/07/30/maga-trump-scandal-2026-elections-01013859), MAGA will vote for anyone they are told to, regardless of scandals. The Republican Party in Texas may be insane, but they aren’t that insane – and remember, when Trump first asked them to gerrymander 5 Democratic seats into oblivion, they initially refused, relenting when the DOJ threatened to sue the state for racial gerrymandering against white people.