The month of August is the midpoint in the third quarter of 2022, with oil pricing as of this writing (mid-July) at $103.88 for WTI and $105.77 for Brent — still in the $100 range but down from record highs. 

Experts predict that increased summer demand and constrained U.S. production will shoot oil prices up to $140 a barrel. 

Uncertainty in the energy market continues as the war in Ukraine rages on and supply chain issues resulting from the COVID-19 pandemic persist.

As the bombing of Ukraine by Russian forces continues, about 3 million barrels of oil a day are removed from global markets. 

Public and political pressure may force the administration to take positive actions to incentivize domestic production and pipeline operations. 

As we begin the last month of the first quarter of 2022, WTI (as of this writing) is at $91.35/barrel, Brent is at $ 92.72/barrel, and the Biden administration continues its campaign to limit oil and gas exploration.

With the holiday season behind us and Congress back session, we are entering the second month of the first quarter of 2022 with continued uncertainty. 

Pipeline Updates, Oil and Gas Spending, and Supply Chain Woes. The outlook for construction is a slow but steady path to recovery. Modest economic growth should continue as the year progresses; however, challenges with labor, materials and inflation will persist.

A number of trucking groups led by the American Trucking Associations filed a lawsuit Nov. 9 against the Biden administration over its vaccine mandate for large employers.

By the time this article is published and The Wholesaler magazine is delivered, we will be midway through the fourth quarter of 2021. The PVF industry continues to face many uncertainties, as mentioned in last month’s column.