Midwest’s Largest Refinery to Restart

The largest refinery in the Midwest should resume normal operations within the next few days after being disrupted by a fire last week, which threatened its 430,0000 barrel-per-day operations.  British Petroleum’s (BP) facility in Whiting, Indiana had an electrical fire in the powerhouse portion of their complex and caused a loss of cooling water.  With […]

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Oil & Gas Production in the Permian

The second quarter of 2022 revealed that oil and gas production in the Permian Basin has exhibited no signs of slowing down production.  Nearly half of all oil investments conducted between April and June came from the Permian.  The Permian Basin is in West Texas and the adjoining area of southeastern New Mexico.  It covers […]

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New # 1: World’s Most Valuable Company

Last week, Saudi Aramco surpassed Apple as the world’s most valuable company in the world.  Aramco’s market valuation was just under $2.43 trillion when they surpassed Apple, which dropped 5% during trading last week and now has an evaluation of $2.37 trillion. Apple topped Aramco for title of world’s most valuable publicly traded company in […]

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IFTA TAXES

International Fuel Tax Association Logo

The end of the first quarter of the new year is quickly approaching, and commercial trucking companies across the country know what that means… it is time to reconcile IFTA!  The International Fuel Tax Agreement (IFTA) is a cooperative agreement between forty-eight states in the United States and ten provinces of Canada.  It allows interjurisdictional […]

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$100 Per Barrel?

The latest data from the Energy Information Administration (EIA) from January 14th showed a small crude inventory build of 500,000 barrels.  This has been coupled with a large increase of gasoline which added 5.9 million barrels.  Even with this inventory build, United States commercial petroleum stocks have declined most of the past eighteen months.  The […]

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Infrastructure Investment and Jobs Act

On November 15th, President Biden signed his $1 trillion infrastructure plan into law. The funding will span over a five-year period with more than half ($550 billion) being allocated to transportation, broadband and utility projects. The infrastructure legislation will also put $110 billion into improving roads and bridges, $66 billion in freight and passenger rail […]

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Retailers Get Creative as Holiday Season Approaches

As the holiday season approaches, retailers are scrambling to ensure their shelves are fully stocked and trying to overcome the numerous disruptions in the supply chain that they have faced since the beginning of the pandemic.  Currently, more than sixty container ships carrying consumer product goods worth billions of dollars are stuck outside the Port […]

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Ida’s Destruction

The destruction caused by Hurricane Ida when it made landfall August 29 has led to the largest ever initial loss of crude oil production in the Gulf of Mexico.  Hurricane Ida has been responsible for the loss of 16.8 million barrels per day (bpd) of output in the near two weeks since the first production […]

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Ida Hits Gulf Coast

Hurricane Idea made landfall yesterday in Port Fourchon, Louisiana as a Category 4 storm, with sustained winds of 150 mph.  At the time of reporting more than one million homes and businesses in Louisiana have lost electricity.

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