February 10, 2016

 From Bloomberg: I see that President Obama has raised his proposed $10/bbl fee on oil to $10.25. I'm not even going to read the rest of the story. I'm beginning to think he is suffering from early onset dementia. For me, the $10.25 / bbl fee on crude oil is a win-win. I have no problem how this plays out.
This is what Saudi Arabia was waiting for: the end of hedges. And now the fun begins. Reuters, meanwhile, sees the global oil glut worsening. There will be no OPEC deal. IEA says it is "unlikely" there will be any deal. I can pretty much bet a year's salary there will be no deal.

By the way, has Tesla reported yet? I don't see any news yet. The expectation is that Tesla will report after the market closes today.

The Los Angeles Times is full of interesting front page news today: this one stood out: FBI can't figure out how to unlock encrypted phone in San Bernardino investigation:

FBI technicians have been unable to unlock encrypted data on a cellphone that belonged to the terrorist couple who killed 14 people in San Bernardino on Dec. 2, the FBI director said Tuesday.

The failure, the second such case in recent months, has left investigators in the dark about at least some of the married couple's communications before they were killed in a shootout with police.

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“We still have one of those killers' phones that we haven’t been able to open," FBI Director James B. Comey told the Senate Intelligence Committee. "It has been two months now and we are still working on it."

Neither the brand nor the model of the cellphone was mentioned. That information will eventually be released. For now, one can place bets in Las Vegas: 1-5 odds that it was an iPhone; 60-1 it was Android. 

Hillary Clinton could probably offer some advice.