Publications: Notes at the Margin

Momentous Week, Momentous Month (July 31, 2017)


Future historians may view the last week in July 2017 as a momentous period. Indeed, they may see the entire month of July 2017 that way. Among the key developments this month was the defeat of the Republican effort to repeal the Affordable Care Act (Obamacare), a failure that demonstrated that the federal government controlled by Republicans really is not controlled by a single party because the Republican party is not really a single party. Historians may also note the passage of tighter sanctions on Russia, Iran, and North Korea by the US House and Senate. These measures threaten international energy trade.


This publication has a narrower focus, however: hydrocarbons, primarily oil. For us, the momentous event was the publication of a US Court of Appeals decision that applies to regulations issued by the US Environmental Protection Agency relating to the implementation of the national renewable fuels program. This week's report provides the details and explains the crude oil and petroleum product market implications.


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