- The U.S. has been importing more crude oil from Russia, especially on the West Coast, due to the decline of Alaska’s crude oil output. So, if the U.S. tried to curtail Russian energy imports, then the record prices at the pump on the West Coast could soar higher.
- China is exporting EVs with cheaper iron-phosphate batteries, led by Tesla, but also followed by BYD, NIO, and MG (built in China by SAIC). Both China (via cheaper battery technology and EVs) and Russia (via natural gas) are pushing the “green” buttons in Europe to bolster their respective economies and market dominance.
- The Labor Department reported last week that PPI surged 1% in January, substantially higher than the economists’ consensus estimate of a 0.5% increase. Excluding food, energy, and trade services, core PPI rose 0.9%, also substantially above the consensus estimate of 0.4%.
For further details see:
Putin Holds The Highest Trump Cards In Europe