Updates
Later, 8:44 p.m. CT: see India below. Now this from a reader:
Cash-Strapped Pakistan Cuts Power to Households on Fuel Shortage - Pakistan is cutting electricity to households and industry as the cash-strapped country can no longer afford to buy coal or natural gas from overseas to fuel its power plants.
The South Asian nation is struggling to procure fuel from the spot market after prices of liquefied natural gas and coal surged to records last month as the war in Ukraine exacerbated supply shortfalls. Pakistan’s energy costs more than doubled to $15 billion in nine months ended February from a year earlier, and it isn’t able to spend more on additional shipments.
Original Post
The Biden Surge: tracked here. How is this going? Early report. Availability of oil was not the problem:
US oil: bbl of last resort. Link to Javier Blas.
Polls: I believe I said something in the last day or so. Gasoline prices and presidential approval ratings are perfectly linked. Link to Charles Kennedy.
This activist "stuff" is beyond the pale: California state pension fund, CALPers wants to remove Warren Buffett as chairman of the board. Link here.
Russia's economy is about to implode, watching a train wreck in slow motion:
- US banks set to write off $15 billion in Russian assets; link to Michael Kern;
- Exxon Mobil may completely withdraw from Russian by June 24, 2022;
- Shell in talks with Chinese firms to sell stake in Russian gas project.
- Biden bans Russian-linked ships from US ports; link here.
Others:
- Pemex: enough cash flow that Mexican government won't cover oil company's debt payments any moore; link here.
- India: coal supply shock causes major power outages. Link to Charles Kennedy.
- Saudi Arabia: growth outlook to surge; links everywhere, here's one;
- graph of the year?
- California: importing more gasoline ahead of driving season; link to Charles Kennedy.
OPEC+ exports continue to decline: link here.
- production issues,
- lack of proper maintenance,
- internal consumption increasing as power generation and cooling demand come into play
- we'll see much of the same in Russia due to loss of western capital, technology, and expertise;
If China has your back, you’re good.
ReplyDeleteThat's a very interesting comment. I think of a scenario in which China draconian lock downs are practice runs to control the population if / when China decides to "take" Taiwan.
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