Oil, 4:00 a.m. CT, note WTI-Brent spread:
- WTI: $95.61; up 5%; up $4.54 overnight;
- Brent:$98.88; up 3.66% up $3.49 overnight; was flirting with $100 earlier; has dropped back a bit;
Paul Farmer: this one is personal
Luxurious garage conversion: this one is personal
- link here;
- Sophia and I did this with our garage, but more "bat cave" than luxurious
Global events:
- with regard to inflation, cost of diesel in California, and Ukraine, Biden is a disaster; and it's only going to get worse
- Biden metrics need to be updated; Ukraine was not on my 2022 bingo card;
- Putin, Trudeau? History will sort these two out.
- a little bit of history puts this in perspective;
- UN Security Council on Ukraine crisis will be chaired by Russia, which currently hold the presidency of the Council;
- Olympics: NBC draws lowest Olymic ratings ever; dropped 42% from 2018.
Oil:
- Finally: after ten months, workers ratify Exxon refinery offer; it will take the average blue collar worker three years to recover from this craziness; someone couldn't do the math;
- Are US shale firms spending enough? Link to Irina Slav.
- Nigeria: no need for extra OPEC+ supplies;
- Chart of the day: December 22 call options -- $100, $110, $125, and $150;
- California diesel: $5.00 / gallon; this will get truckers' attention;
- US oil imports from Russian reached record high under Biden's administration;
Fair share:
- 62% of Americans pay no federal income taxes;
Investing:
- Warren Buffett's annual letter will be released this Saturday;
Burning ship, luxury EVs:
- Fire remains out of control; EV batteries; VW lost $155 million;
- Porsche, Bentley, and VWs
Global warming:
- I'm not sure all his "facts" are factual, but in general, he is correct; link here;
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