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MORNING ENERGY NEWS | 05/25/2020
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** Making the most of a freedom hard-won.
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Institute for Energy Research ([link removed]) (5/25/20) blog: "'Nearly 43 million Americans will start their summers on a high note with a Memorial Day weekend getaway,' the American Automobile Association reported a year ago. This year? 'For the first time in 20 years, AAA will not issue a Memorial Day travel forecast, as the accuracy of the economic data used to create the forecast has been undermined by COVID-19. The annual forecast – which estimates the number of people traveling over the holiday weekend – will return next year.' It is as if the Green New Deal happened with car travel down two-thirds from the March/April peak Pandemic period, mostly in the Northeast...While car travel is down, sales and rentals of recreational vehicles (RVs) have jumped. 'RV fever' was explained by one dealer: 'It allows you to control your environment and that’s really important on the other side of this
pandemic to be able to control when and how you interact with people.' More than a half-million RVs were sold last year, tripling 2008’s nadir. Motor homes involve 40 million Americans, led by the 35-54 age demographic. Millennials, too, are taking to open-road living, with 15 million already owning an RV."
** "And if words cannot repay the debt we owe these men, surely with our actions we must strive to keep faith with them and with the vision that led them to battle and to final sacrifice."
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– President Ronald Reagan ([link removed])
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Energy Markets
WTI Crude Oil: ↑ $33.44
Natural Gas: ↓ $1.71
Gasoline: ↑ $1.96
Diesel: ~ $2.41
Heating Oil: ↑ $98.91
Brent Crude Oil: ↑ $35.24
** US Rig Count ([link removed])
: ↑↓ 1137
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