for Gasoline prices
Under the border-adjustment tax, U.S. oil would be exempted from taxes if it is exported abroad, making it much more competitive. The tax, however, will have difficulty passing in Congress since it would also likely raise pump prices.
Although gasoline prices remain low and total auto sales are down, consumers have significantly increased their purchases of electric vehicles this year.
Saudi Arabia's reforms are hugely important because the country's stability hinges on the robustness and reliability of the welfare state, which citizens hold as their birthright.
Although the EPA is simply conforming to the reality of the marketplace with its new biofuel blending targets, it is getting blasted by a number of industry groups.
A J.P. Morgan Chase study shows that when gasoline prices fall, Americans, for the most part, do not save the extra money but instead spend it largely on non-essentials and—in some cases—higher-priced gasoline.
With U.S. demand surging and exports on the rise, this summer has been a good time to be a refiner.