Natural Gas

Electric Vehicles No Threat To Oil Prices Anytime Soon

Hardly a day goes by without another media report about the impending demise of the Internal Combustion Engine as petroleum powered cars and trucks are replaced by uber-clean Electric Vehicles. It is just a matter of time before EVs start to materially reduce global oil demand thereby capping a meaningful oil price recovery now and creating an ever-shrinking industry in the future... Except it isn’t true.

Frontrunning: July 26

  • Oil bounce, results keep stocks on high (Reuters)
  • Healthcare brawl returns to Senate floor (Reuters); Senate Sets Up Health Votes for Chaotic Obamacare Debate (BBG); Health Debate Rolls On After First Option Fails (WSJ)
  • Who Will Blink First in the Sessions Standoff? (BBG)
  • Iran Says ‘Hostile’ U.S. Sanctions Vote Undermines Nuclear Deal (BBG)
  • Russia Warns of ‘Painful’ Response If Trump Backs U.S. Sanctions (BBG)

EU Faces Dilemma: To Stand Tall Or Kneel

"Until now Europe has failed to resist American pressure. This is another opportunity to take a stand and defy Washington. The European Commission will discuss next steps today... The outcome will be a litmus test for Europe's unity to show whether the bloc is really a powerful alliance of the countries ready to protect their interests or it is nothing more than a puppet on a string dancing to the US tune."