Gasonomics: What’s Really Driving Energy Prices Higher?
Amidst the global energy market turbulence, the U.S. faces significant shifts in its energy prices and energy complex. Adding to the concerns, the Biden administration’s decision to offer zero oil and gas lease sales in 2024, influenced by the U.S. wind power industry, is set to further strain the supply-demand balance. The spotlight is on the rising fuel prices, and the factors contributing to this surge are more intricate than they appear. On the latest episode of Gasonomics, host Tim Snyder, Chief Economist at Matador Economics, highlights the rise of energy prices and the declining inventory of the U.S. strategic petroleum reserves for crude oil.