The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. In support of these goals, the Committee decided to raise the target range for the federal funds rate to 3 to 3-1/4 percent and anticipates that ongoing increases in the target range will be appropriate.

U.S. Rig Count is up 1 from last week to 764, Canada Rig Count is up 4 from last week to 215

U.S. commercial crude oil inventories increased by 1.1 million barrels to 430.8 million barrels.

The US federal government’s effort to force the transition of the US energy economy from a mixed-fuel economy to an “all-electric everything” energy economy based on renewable electricity generation and storage is becoming a brutal and explicit combination of incentives and disincentives.

U.S. commercial crude oil inventories increased by 2.4 million barrels to 429.6 million barrels.

U.S. Rig Count is up 4 from last week to 763, Canada Rig Count is up 6 from last week to 211.

The possibility of replacing coal power plants with nuclear capacity is being actively explored in the USA and elsewhere.

Renewable generation sources include conventional hydropower, wind, solar, geothermal, and biomass. In the United States, most renewable electricity generation comes from hydropower, solar, and wind.

Poland plans to have nuclear power from about 2033 as part of a diverse energy portfolio, moving it away from heavy dependence on coal.

U.S. Rig Count is down 1 from last week to 759, Canada Rig Count is down 3 from last week to 205.