Gasonomics: What’s Up in Energy? More Oil Getting Pulled from Reserves

Explore the latest in the energy complex on the new podcast, Gasonomics with host Tim Snyder of Matador Economics. From the latest renewable energy news to the economic implications of the oil and gas industry, join Snyder as he gives an engaging and in-depth look at the energy sector.

In the inaugural episode of Gasonomics, host Tim Snyder of Matador Economics revealed the latest energy complex news and its economic implications.

Snyder opened with news of President Biden’s administration plans to withdraw another 26 million barrels of crude oil from the strategic petroleum reserve (SPR) — leaving the SPR with 345.6 million barrels remaining. With this administration releasing a total of 292.5 million barrels since 2020, this is the largest withdrawal seen since the 1970s.

The Bureau of Labor Statistics released the January 2023 consumer price index, showing a .5% increase to 6.4% year-over-year. Since December came in at a -.1%, Snyder believes this trend will concern fed watchers. Snyder noted that this “casts some shade on the idea that the fed will wrestle inflation back to its targeted 2% by years’ end.”

Additionally, Snyder covered the US Energy Information Administration’s report showing the national average gas and diesel prices dropping 2.5 cents per gallon and diesel fuel also dropped .16 cents per gallon. However, Snyder cautioned this is likely a seasonal trend and demand may cause prices to climb again. In relation, the Organization of the Petroleum Exporting Countries (OPEC) announced an adjustment to the 2023 demand forecast for crude oil and refined products as Chinese demand will influence markets around the world.

Follow us on social media for the latest updates in B2B!



AI in content marketing
Generative AI in Content Marketing: Why Creativity & Authenticity Will Make it Work
July 11, 2024

Will 2024 be known as the year AI made waves in content marketing? It sure seems so, with recent AI-driven ads from Toys R Us and Under Armour generating significant buzz online. Not just this: Despite having no official ties to the brand, a mock Volvo ad created entirely by AI has also gone…

Read More
Hiring Made Human: Hiring When You’re a Start-Up
July 11, 2024

The challenges of hiring for a startup have become more pronounced these days than ever. With technological advancements and evolving market demands, startups must be agile and strategic in their hiring practices to ensure success. According to some studies, nearly 90 percent of startups fail, with a significant factor being the inability to attract…

Read More
Focus on the Customer
Fifth Inning – Focus on the Customer
July 11, 2024

In a compelling narrative by Jesse Cole, the Savannah Bananas, a baseball team known for its unconventional approach, has declared advertising dead. Cole emphatically asserts that while advertising may attract customers, it is the fan experience that fosters lasting loyalty. In a bold move, the Savannah Bananas have eliminated all forms of advertising at…

Read More
Dr. Mark Manera talks Trucking Industry
The Trucking Industry Needs a Fitness Overhaul to Jumpstart a Trucking Health Revolution
July 11, 2024

With the trucking industry seeing many changes that prioritize efficiency and productivity, the health of truck drivers has increasingly peaked as a critical concern. With life expectancies for truck drivers averaging 16 years less than the general population, there is an urgent need to address health issues within the industry. Recent initiatives, like the…

Read More