U.S. oil production has reached a 20-year high and, since March 2012, demand for gasoline has fallen almost 5 percent. So why have prices at the pump jumped? From mid-December through the end of February they rose almost 20 percent, though they have declined a bit in recent weeks. Some of the blame for the increase goes to the federal mandate on ethanol use in the U.S. fuel supply.
U.S. oil refiners may draw from a reserve of 2.5 billion Renewable Identification Numbers that they’ve banked in previous years to meet federal requirements for the amount of ethanol they blend into gasoline this year.
Lying in a Beijing military hospital in 1990, General Wang Zhen told a visitor he felt betrayed. Decades after he risked his life fighting for an egalitarian utopia, the ideals he held as one of Communist China’s founding fathers were being undermined by the capitalist ways of his children -- business leaders in finance, aviation and computers.
Aluminum alloy stockpiles tracked by the London Metal Exchange rose to the highest level in more than nine years, while inventories of primary aluminum extended their drop to the longest in almost seven years.