The White House is putting the finishing touches on a plan to direct federal spending of $200 billion or more – funds it would propose to offset with cuts elsewhere in the federal budget – to leverage hundreds of billions more from local governments and private investors to pay for road, rail, water, and utility upgrades. Let’s hope it happens!
Oil continues to rise! West Texas Intermediate (that determines the price of diesel in the South and Southwest) was now above $58, with Brent (that drives the price on the East Coast) at nearly $65 at the time of writing.
Key North Sea pipeline, one of Europe’s most important oil systems, will be shut down for a “matter of weeks,” pushing Brent higher.