The Fog Is Starting To Clear -- April 4, 2023

Locator: 44303B. 

See this note also. 

A reader sent me this earlier this morning:

My not-ready-for-prime-time reply: 

Excellent.

That makes a lot of sense.

That was a nice way to state it: triggering event.

Lots and lots of issues but the question I should have asked in my original note (see link above), what was the triggering event or tipping point?

That really, really makes sense. Saudi needed to protect Brent $80-floor at all costs and when SecEnergy Jennifer "no clue" Granholm said she wouldn't refill the SPR this year, and, in fact, she said, it would take years to refill -- the Saudis must have gone ballistic. Especially coming from "no clue" SecEnergy. 

I remember the day when Granholm said the volume of the SPR was measured in bbls of oil per day (bopd). Wow. LOL. 

Again, thank you for that note.