Sunday Whistling Past

By Paul Sankey Published on May 3, 2026 at 4:02 PM

Greetings, Refiners are running at max capacity, and oil prices are finding a Hormuz blockage hierarchy. Excess profits are accruing to oil producers, US refiners, and shipping companies. Front page of USA Today, Daily Mail, nothing on Hormuz. I scrolled all the way down on the NY Post – not one story on Hormuz today. While the oil analysts get frantic, the NASDAQ hit a record high, and the President’s most important advisor, Mr Market, …

US Demography: K–12 Enrollment, Teenage Mothers, & Valero

By Paul Sankey Published on November 26, 2025 at 3:37 PM

Assuming you are sitting in a traffic jam in the back of a limo being driven out to your country estate for Thanksgiving, we send a little reading for the holiday. You have no doubt seen or experienced this year’s travel data: all-time records. In this note we explain why every year more and more people drive for Thanksgiving, according to our theory: Ex-urbanisation. Notable for Thanksgiving travel, that we are clearly higher than …