Iperfora, nina, perfora! (Drill baby, Drill)

The White House announced an oil joint venture with the Venezuelan government. Of Venezuela’s 300 billion barrels of proven reserves, the deal would access the USA to 65 billion barrels.

The deal consists of a 100 year Venezuelan oil field lease to a joint venture oil production company between the USA government's 55% holding and a private Venezuelan operator, ranking second to Saudi Aramco’s corporate proven reserves holding.

Chevron has historically maintained Venezuelan oil production investments and is working on new investments. Communist Venezuela lacking security guarantees, short of a reliable legal and commercial operating framework and a constitution stating, “Venezuelan oil deposits belong to the Venezuelan people and cannot be transferred to another owner”, have been Venezuela investment deterrents for ExxonMobil and Conoco/Phillips.

Ripples of the Iran Energy Crisis

The ripples of the Iran energy crisis Rising fuel prices are threatening growth and stoking inflation, as supply shortages, strained refineries and opaque markets create fresh risks for the global economy. By Malcolm Moore and Sam Fleming Just

ITR Economics Rate Hike

ITR Economics - Leading Indicators

Published September 18, 2026 September 2026 Report US Total Industry Capacity Utilization Rate INDICATOR 1/12 TICKS UP; OVERALL TREND SUPPORTS MILD INDUSTRIAL SECTOR GROWTH The US Total Industry Capacity Utilization Rate 1/12 moved up in August. The trend supports our expectations for gradual industrial sector growth into the

Fuel Supply Disruption

Accounting for 6% of the Midwest’s supply and 10% of Chicago’s gasoline, Sunday September 13th at 3:30PM Exxon Mobil’s Joilet, Illinois refinery was forced to shut down when flood waters affected a power failure and a pump. Although power was restored the same day; the crash

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Ripples of the Iran Energy Crisis

ITR Economics Rate Hike

ITR Economics - Leading Indicators

Fuel Supply Disruption