The Seventh Fold

Last week, I alerted you all to some interesting preliminary findings of my ongoing research into oil exports.  The news that world oil exports peaked in 2006 probably came as a surprise, and a troubling one at that.  The post this week is no less troublesome.  Through a peak-oil-export enlightened analysis of diesel crack spreads and diesel exports data, I show that during the heat of the price run, US diesel consumers (i.e. our transportation sector) were for the first time in history outbid by foreign consumers. Read more…