The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
Independent shareholders in French state-controlled utility EDF may have found an unexpected ally in new British Prime Minister Theresa May. A day after EDF’s board narrowly decided to push ahead with the construction of two new nuclear reactors at Hinkley Point, the UK government announced a surprise review of the humongous project. Pulling the plug would be a service to UK taxpayers as well as EDF investors.
The United States has more oil than Saudi Arabia, says a new study by Norwegian consultancy Rystad Energy. The size of American reserves, at 264 billion barrels, is around a fifth higher than what is estimated to be located in the desert kingdom. That’s a surprise. But it’s also beside the point. Oil supremacy goes not to the one who has most, but the one who controls the price.
from Blogs Dashboard:
If you are in St Louis, buy gas on a Tuesday or Wednesday
The pass through from low gas prices to U.S. consumer spending is a fraught issue and central banks say it is being distorted by the zero lower bound. Now another complication, if you are in St Louis.
According to calculations from the Federal Reserve Bank of St. Louis, you can save up to $60 a year if you buy gas on a Tuesday or Wednesday. Gas prices are most expensive on Fridays, Saturdays and Sundays and fall sharply in midweek, with Tuesday almost 4 cents a gallon cheaper than the average price.
"The simplest explanation is that most consumers aren't aware of the cycles. Even if some were aware, they may not care enough about saving a few dollars to change their behavior," the study found.