Styles starts by dismissing the notion that the high price of oil in the US in February is the result of usual seasonal maintenance:

Geoffrey Styles via The Energy Collective

Unfortunately, some of the explanations I’ve seen for these price levels, including the ones offered in last night’s CBS Evening News, focus too much on minor factors such as refinery maintenance and commodity speculation, while ignoring the most basic influence: the price of oil.

Styles thinks the spike is due to Iran’s threats regarding its oil, even when demand is down. My prediction? We’re going to see $4/gallon at the pump in May.