Freelance journalist covering cities, climate, and energy. Former Bostonian, Angeleno, Londoner. | Oil Fall https://t.co/65oBFyeKjR | email@example.com
If you agree with all of Trump's economic policies to date, the corporate tax cut, and the tariffs, and believe they are the best policies to make America great again, then you have to agree that current FED policy--a brief phase of hedged easing--is pitch perfect. $SPY $TLT
Austerity is the new voodoo. Why? Because cutting vast portions of your population out of gains from trade, and, turning your back on normal course 20th C public investment (to the detriment of productivity and growth) is not merely dumb as all fuck, but gets you this:
@LDrogen You just named the three horsemen which, notably, most economists tend to ignore as they chase after accounting identities and other airy explanations for the rate decline. My view: fertility rate crash and tech deflation now being joined by energy surpluses (and more to come).
Seems we're about to remember how necessary the China bid had become to global asset prices, and global growth.
JMHO: the build and withdrawal numbers in the weekly petroleum status report from EIA (and API) provide 1. no useful information about global demand. 2. say very little about US demand. 3. have no correlation to price movements in oil beyond 6-8 hours of trading. #OOTT
China's vehicle market fell for the 13th month, though a blip of July strength eased the depth of the YOY decline. A weakening economy also knicked EV sales, yet they remain on track for at least 40% growth in 2019. Details coming in my newsletter tonight.
A good way to think about Uber, especially because it's in the business of transportation, is that its financial losses all flow from energy losses. Unlike previous transportation innovations, it has no energy-edge. via @verge
Even as someone who reports on and writes about EV adoption, I remain newly astonished that ICE vehicle sales in China will barely grow, if they grow at all this year, as EV flood the zone, taking all the growth. Really didn't expect that until 2020 at earliest. Crazypants.
1/ The EV sales growth take-off point is now arriving and everyone is going to have to revise their projections (again). IEA and EIA are of course the farthest behind. But even BNEF may have to revise. China is of course leading the way, but edge-economy California also roaring.