Tag Archives: Oil

Please note: there will not be a Weekly Market Commentary next week (15 October 2021) because Davefairtex will be on vacation. It was another bad payrolls report; headline +194k, with +475k expected. Friend-of-the-site Wolf Richter has a breakdown of this very complicated employment picture. People Not Looking for Work, Labor Force Drops. But Households Report…

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Market Commentary Its hard to know where to focus right now – there is so much going on. First of all this was “COMEX PM delivery week”, specifically, Wednesday was the big delivery day. So guess what happened to silver on Wednesday? It got crapped on – and not by a little either. Silver plunged…

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Market Commentary This was Fed Meeting Week – for those who have been distracted by “covid”, the Fed has been hinting about maybe-possibly-tapering their money-printing spree because, maybe, inflation is kinda-sorta starting to become a thing. Finally. To their great relief. Inflation! Yay!! Ok well sure, inflation sucks if you’re a wage-earner, or on a…

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Market Commentary Payrolls was the market mover this week – they came in a lot lower than expected [headline +235k], still perhaps 5M below pre-pandemic levels. Wolf Richter has a good article breaking down why things haven’t gone so well for payrolls. No, it’s not “delta”. As I’ve said before, if you pay people not…

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Market Commentary This week we saw falling Retail Sales [-1.49% m/m] alongside a rising Industrial Production [+0.93% m/m]. Post-pandemic, Retail Sales had been supported both by rising prices, as well as lots of free money from the government, but this appears to be coming to an end, although in absolute terms it remains strong. INDPRO…

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Commentary Producer prices (PPIACO) looked unpleasant for July; +1.18% m/m, +19.79% y/y. That’s the largest increase since 1973-74. But don’t worry; Powell tells us it is transitory. It was transitory back in the 70s too – but the “transition period” lasted about 8 years, resulting in prices jumping from PPIACO=40 to PPIACO=100. Now that’s the…

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Market Commentary The buck erased most of last week’s losses [+0.66%], with the bulk of the gains coming on Friday, following a surprisingly strong Nonfarm Payrolls report [headline +943k +0.65%]. Might this be due to some of the Red states deciding to cease paying people to remain unemployed? The rise in payrolls doesn’t look all…

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There’s one thing that I think might cause a breakdown in the system of money and halt the economic expansion in its tracks.  Come to learn about the critical importance of Net Energy, stay for the prediction about how an oil shortage within the next year could cause the gross experiment in money printing to come to a grinding halt.

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Republican lawmakers blast Fauci after thousands of emails released Many Republicans focused their ire on the fact that Fauci received messages in early 2020 warning that the virus had been “engineered” or may have otherwise emerged from a lab in Wuhan, China, while he was publicly dismissing the possibility. Shell’s historic loss in The Hague…

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Like it or not, our modern way of life remains extremely dependent on oil. And even using the rosiest of forecasts, that’s not going to change anytime soon.

Which is why petroleum geologist Art Berman’s prediction of a 30% spike in oil prices later this year is so worrisome.

If it indeed occurs, it will be another painful gut-shot to a global economy still struggling to recover from the damage inflicted by the pandemic.

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