TD, I agree blame it on Putin from media running its courseThe IEA who has been in denial mode for a year is finally waking up....the green energy mess is turning into a nightmare for them...cost of renewables are through the roof...anyone Net Zero 2150?
The reality is like the human population has lived beyond its means for years...government debt right down to kids with Iphones every 2 years throwing in the dump bin perfectly good phones..that waste is catching up....and quickly...everyone wants to be rich and have everything...this is why consumption won't drop.
The chart below shows why the UK and US are in panic mode...media has not picked up on the shipping lags.....yet....
Reference:
https://www.reuters.com/business/energy/russian-supply-blow-shakes-global-oil-output-picture-iea-2022-03-16/ "Russian supply blow shakes global oil output picture - IEA"
[img]https://www.reuters.com/resizer/31QAU47uTKqHjF0u-8Jo-P_aO5I=/749x0/filters:quality(80)/cloudfront-us-east-2.images.arcpublishing.com/reuters/35TMCLO775LS3DZLB6QJP2I74M.png[/img]