William Brangham discusses the near term future in the Gulf of Hormuz’ shaky cease fire with Jason Bordoff, the founding director of the Center on Global Energy Policy at Columbia University.
Oil/Gas prices not coming down any time soon.
William Brangham discusses the near term future in the Gulf of Hormuz’ shaky cease fire with Jason Bordoff, the founding director of the Center on Global Energy Policy at Columbia University.
Oil/Gas prices not coming down any time soon.
It isn’t just the supply and movement of the crude oil that is affecting markets and countries, but where the individual refined fuels are processed and to where they are shipped.
China, for instance, has cut off all exports of refined fuels, including gasoline and jet fuel that various countries have come to depend on.
In the US, diesel refining is currently at full capacity, and they’re exporting it to whatever market offers the highest price. Thus, diesel prices in the US are rising much higher than the price of gasoline. (“Gas runs cars; diesel runs the economy.”)