Cushing OK is running out of usable crude oil…

[TOM4CWB]

Watching Bloomberg…. Stephen Schork…



Cushing holds 80M barrels of oil… they are down to 22M barrels… but guess what…

The dregs at the bottom of the storage tanks have salt water and heavy ends of the oil…

So operationally 20M Barrels is getting schetchy… as to as to the quality needed for the refinery’s requirements…
Gasoline is winterized…. Lighter more volatility in the winter for better starting and cold weather performance….
Diesel at peak consumption with harvest…. Transportation for goods for upcoming holiday season rush…

$100/Barrel US is virtually assured by Nov1…. As the strategic reserve is empty in the US… Russia holding back Diesel…
Energy
Shortage is certainly on the horizon… especially if eastern North America turns cold and snowy …as is expected this winter …

Historical Volatility very likely in energy prices this winter… crazy times ahead!

Cheers

[Old Cowzilla]

So it might be hard to keep inflation at 4% along everyone's new payraise so it seems.

[LEP]

So it might be hard to keep inflation at 4% along everyone's new payraise so it seems.

Exactly. Huge pay raises plus the drop in labour productivity bake in inflation for years to come.

Add to that a huge perennial, possibly irreversible deficit and the future is bleak.

That's what happens when you have people who don't know or care about what they are doing, running the economy.

They give out money like its Halloween candy.

[TOM4CWB]

Interesting weather this winter:







Short term:



Apparently it could be a wet cold winter for California again this winter…

Cheers

[TOM4CWB]

Drought continues…



Rain for the next week:



Weather next week:



Cheers