1 Comment on Tank Bottoms Monitor

  1. The Japanese yen is continuing to weaken and the government has warned it may go up from 160 yen to 1 USD today into the higher 160s range. I noticed slight price rises so they are trying to ease into the coming shock as Emergency Oil Reserves (EOR) (SPR is a PR euphemism) deplete while the one or two tankers from the Strait of Hormuz is not keeping up.

    Jeffrey Currie had a very interesting interview in which he stated the obvious but I had never realized it, that Jimmy Carter warned back in 1977 that this kind of major oil shock was coming unless we diversified energy sources. He was laughed at and kicked out of office for telling the truth. He did a lot of awful foreign policy stuff (CIA on the loose) but was basically a pretty smart and a decent fellow!

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