Episode 148 - Crude slips from $70 | U.S. becomes India's second biggest oil supplier

Brent crude slips from $70 as outlook brightens but inflation weighs

https://www.reuters.com/article/us-global-oil/brent-crude-hits-70-as-china-energy-demand-outlook-brightens-idUSKBN2B703D

- China buying from allies and enemies in the Middle East

- Will China reshape foreign policy in the Middle East

- Iranian oil sales to China saved Iran during sanctions

- We are still 20,000 flights under where we were pre-pandemic

Crude to $100: Trader makes the case for a spike in oil prices

https://www.cnbc.com/amp/2021/03/13/crude-to-100-trader-makes-the-case-for-a-spike-in-oil-prices.html

- Consumer couldn’t withstand this

- OPEC+ monthly meeting prevents this

- It’s not like we can’t increase the drilling. We can.

- Consumers don’t have the same wealth to withstand higher oil prices

U.S. becomes India's second biggest oil supplier, Saudi plunges to No. 4

https://www.reuters.com/article/india-oil-imports/u-s-becomes-indias-second-biggest-oil-supplier-saudi-plunges-to-no-4-idUSKBN2B70LR

US picks up pace of drilling permit approvals

https://www.argusmedia.com/en/news/2195167-us-picks-up-pace-of-drilling-permit-approvals

- Is Biden now the oil President?

- What’s going to happen between the end of the 60 day moratorium and when they issue their report on the entire process in “early summer”?

Cobalt prices soar as China stockpiles metal used in smartphones, electric car batteries

https://www.scmp.com/news/china/diplomacy/article/3125373/cobalt-prices-soar-china-stockpiles-metal-used-smartphones

- Is this how Tesla ends? Tesla has a factory in China and either Elon Musk will say something bad or China will say we don’t need you anymore

- Battery life and grid resiliency is not the only limiting factor in EV adoption here — so is Cobalt, 70% of which is transported between DRC and China through South Africa

Three ships carrying U.S. ethanol head to China - sources

https://www.reuters.com/article/us-usa-ethanol-china-exclusive/exclusive-three-ships-carrying-u-s-ethanol-head-to-china-sources-idUSKBN2B02JN

To go electric, America needs more mines. Can it build them?

https://www.reuters.com/article/us-usa-mining-insight/to-go-electric-america-needs-more-mines-can-it-build-them-idUSKCN2AT39Z

- No, because flowers and thirsty squirrels. Really.

Check out How a Fake Saudi Prince Stole $8M from Investorsryan

https://www.vanityfair.com/video/watch/true-crime-how-a-fake-saudi-prince-stole-$8m-from-investors

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