Notes From All Over -- The Early Morning Edition -- October 21, 2021

Finally. Oil is now a top story over at CNBC. OPEC+ is holding four million bopd in storage and won't release it despite the US, China, and India all asking for more oil. Where are the US shale producers? PXD: if producers put more oil on the market rather than return cash to the shareholders, the companies get punished. ESG mandates. Why is OPEC+ sitting on spare capacity? Fears of new Covid variants.

Covid: UK and Russia out of control. Perhaps you can connect the dots between Russia's Covid outbreak; Nord Stream 2; and,

Wework: breaking story. Crash.

Oh, oh: the fear of peak demand is leading to the reality of peak supply. -- Eric Nuttal, in response to news that XOM is considering cutting back on its major projects over concerns of peak supply. Link here. 

ISO NE: the spikes continue. 

For investors, BofA warns of 0% returns over the next ten years: this is very, very cool. The other day -- only two days ago -- I provided a long list of suggestions from Jim Cramer which he called "inflation winners." Yesterday, Bank of America provided a similar list -- amazing how it overlapped Cramer's list. Absolutely amazing. BofA's list:

• Energy
• XOM
• CVX
• COP
• year to date, Chevron shares are up about 30%, Exxon Mobil has returned just over 50%, while ConocoPhillips is up a whopping 88%.
• to put that in perspective, the S&P 500 returned around 20% during the same period.
• Financials
• Goldman Sachs
• Morgan Stanley
• JP Morgan
• Materials
• Freeport-McMoRan
• DuPont

Polls are starting to show how concerned Amricans have become with regard to Resident Biden's policies. I have no sympathy. Especially for the folks in Minnesota who prefer CBR to pipelines. 

Supply shortages: I make it a point to visit Target every day. It's a one-minute bike-ride from our little hovel. I purposely walk down each aisle to note the shelf shortages: most remarkable -- the McCormick spices. Completely empty. Seriously. Salad dressing shelves are also quite empty. But have you noticed what is not in short supply? Beer. Speaks volumes. Huge trucks needed to supply beer and yet there seems to be no shortage. 

Netflix outage overnight was reported. "Down Detector" is the site to visit when one has questions whether a blog site or streaming service is down. With regard to Netflix, it was down for about an hour. 

Apple: one small chip, the M1 Max chip may have more raw GPU performance than a PlayStations 5. Link here.