Publications: Notes at the Margin

What Were They Thinking? (June 9, 2014)


Reading the energy news this week, one thought kept coming to mind: “What were they thinking?” This phrase generally gets used when well-known people make very stupid statements. In this issue, it applies to three idiotic observations on short and long-term trends in energy prices. After debunking these views, we conclude by noting that a rapid build in gasoline stocks may send near-term crude prices down sharply. The economic conditions noted in the preceding sections of the report make this threat very real.


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