Focus on fracking: weekly edition posted.
Oil: slumps
- Brent: drops 3.3%; down almost $4.00; trading at $116.70
- WTI: drops 3.5%; down almost $4.00; trading at $110, but did drop below $110, briefly
Diesel: rationing looms.
The myth of spare capacity: link to Financial Times -- "you can't just turn on the taps." Bottlenecks hit hopes of US oil output surge. An article about a shortage of sand, and almost everything else connected with fracking.
Russia implodes: China's Sinopec bows out of Russian petchem, gas projects. Link here.
Xi will tread carefully: XI's gamble on Putin may be the most dangerous and short-sighted of his nine years in power. Link here. I disagree. The EU leaders have been incredibly un-helpful throough all of this.
Russia: will likely default on April 4. The early $117 million interest payment was "peanuts" according to the $2.2 billion coming due. Link here.
Tesla: to halt Shanghai factory production; Covid curbs. Link here.
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