You buy these fuels wherever you can. If you don’t buy them from Russia, you need adequate replacement capacity.
I’m watching VERY CLOSELY as to how this EUROPEAN OIL AND GAS CRISIS shakes out.
Which means I’m watching you, Germany, Italy, Netherlands, Turkey and Poland in particular.
This is a SUPERB SUMMARY of where the world stands NOW. Both financially and geopolitically. Few will agree with everything Dalio argues here, but for the MOST PART, he’s RIGHT ON THE MONEY.
At least, according to the view from TUDOR PLACE.
I highly recommend your checking out this 35 minute clip. It’s loaded with FACTS, and IT FLOWS.
Besides, the guy runs the LARGEST HEDGE FUND IN THE WORLD.
HE’S SMART!
From Tsvetana Paraskova via OilPrice. com
Exxon CEO Warns That Consumers Will Pay for Hasty Energy Transition
The gist of it:
The Semi-Good News
“ExxonMobil expects all new cars sold two decades from now to be electric vehicles. But the U.S. supermajor also believes that people will “pay a high price” in this rush to renewables without providing the energy the society currently needs, Exxon’s chief executive Darren Woods told CNBC’s David Faber in an interview last week.”
The Reality Check
“Exxon joins many other oil producers who say that governments and policymakers need to balance the drive to lower carbon emissions with the people’s current need for affordable energy. The recent underinvestment in traditional energy sources is a blow to energy supplies, which leads to high prices and record-high gasoline prices, Exxon’s CEO told CNBC. That’s the latest warning from the oil industry that policymakers should look at the short-term energy needs while planning for a low-carbon future.”
. . . Then It Follows, Constitutionally, That ONE-NON CITIZEN = ONE NON-VOTE.
From ZH:
“The New York Supreme Court on Monday struck down a NYC law allowing noncitizens to vote, handing a victory to the Republican National Committee (RNC) which filed a lawsuit against the law in January.”
And this:
“There is no statutory ability for the City of New York to issue inconsistent laws permitting non-citizens to vote and exceed the authority granted to it by the New York State Constitution,” wrote the court. “Though voting is a right that so many citizens take for granted, the City of New York cannot ‘obviate’ the restrictions imposed by the Constitution.”
Yes, color me a RULE OF LAW INSTITUTIONALIST. Or make that CONSTITUTIONALIST.
JUSTICE UBER SOCIAL JUSTICE.
After all, SOME OF US AREN’T FOOLS.
What a SATISFYING VICTORY for the folks at the Foundation Against Tolerance and Racism (FAIR).
And how TELLING just how quickly WOKE PROGRESSIVES WILL BACK DOWN when confronted with the ILLEGAL IDIOCY of their COMMUNIST-FLAVORED EQUITY FIXATION.
Check it out:
FAIR Transparency Drives Change at Brown University
From the piece:
“FAIR is proud to report that Brown University will no longer be restricting admissions to its Mindfulness-Based Stress Reduction teacher training programs based on skin color or immutable characteristics.
The change comes after FAIR sent a letter to Brown University President Christina Hull Paxson in response to a FAIR transparency incident report detailing the university’s plans to offer these segregated programs.
Christina Hull Paxson, I suspect, is NO FOOL, and obviously did a QUICK BACKSTROKE once HER LAWYERS HAD ASSURED HER THAT BROWN WOULD BE GUILTY OF VIOLATING THE 1964 CIVIL RIGHTS ACT by conducting such programs.
Here’s my original post on the issue, dated June 20th, 2022.
YES, TALK ABOUT FLIPPING THE SCRIPT!
Note that the PIGS — Portugal, Italy, Greece and Spain — still lead the parade.
But then, whenever I’ve been in Southern Europe, I haven’t wanted to work either.
Gazing out on the Med is so much nicer.
Of the twenty cities listed here, I’ve been to fourteen of them and would rank my top three as Amsterdam, Hamburg and Stockholm. But then, that’s Europhile me.
. . . in North Africa.
Scenes like the ones in the clips below will only increase over time.
And I’m not being hyperbolic.
From Statista:
“The Russian war in Ukraine has had immediate repercussions for global food markets given the countries’ role as major exporters of essential agricultural products, such as wheat, sunflower oil, barley and corn, while also affecting perishable foods like fruits and vegetables.
“As shown in FAO data, the price of basic food products has surged since the invasion of Ukraine after already having followed an upward trend since 2020 over the course of the Covid-19 pandemic.”
The least affordable states.
Tudor Place 