Memorial Day, Monday -- May 30, 2022

Updates

2:15 p.m. CT: oil surges:

• Brent: up 1.88%; up $2.24; trading at $121.70.
• WTI: up 1.82%; up $2.10; trading at $117.20.
• headlines:
• Biden to speak with Jay Powell tomorrow, Tuesday, May 31, 2022
• Saudi likely to raise OSP for crude oil headed to Asia
• US gasoline prices surge to new record high on Memorial Day
  
• commentary:
  
• everyone knows inflation will be around through 2023, keeping oil prices high (or higher)
• everyone knows that the Biden administration has no options left to bring down prices
• it's not crude oil production, so banning oil exports won't help
• putting an "emergency" cap on gasoline at the pump is a "bridge too far" 
• in the past, high gasoline prices were transitory, Americans knew that, and accepted it; now, high gasoline prices are here to stay -- they are not going to be happy come November, 2022
  

10:51 a.m. CT: oil is creeping up:

• Brent: $120.90
• WTI: $116.30

Original Post

China re-opening. Stories everywhere.

Oil:

• Brent: $120.20
• WTI: $115.90
• despite stronger dollar

Keystoning America not mentioned once in this very long social media thread.

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The Book Page

From The Bohemians:

• laissez les bon temps rouler, p. 242
• Russian Pale of Settlement, p. 277
• the Portuguese lurcher,
  

Book ordered from Amazon today:

• The Dead Sea Scrolls, Edmund Wilson, c. 1955. Released January 1, 1955. 
  

Will arrive first week in June; shipped from third party seller, not Amazon.