Pubblicato in: Agricoltura, Devoluzione socialismo, Economia e Produzione Industriale, Stati Uniti

Usa. Bistecche ad 8 Usd la libbra, contro i passati 4.47 Usd la libbra.

Giuseppe Sandro Mela.

2022-08-13.

Carne. Prezzi negli StatiUniti 001

Nello agosto 2017 negli Stati Uniti le bistecche prezzavano 4.47 dollari alla libbra, contro gli attuali otto dollari la libbra.

Il lettore europeo troverà questi prezzi assolutamente bassi, ma essi costituiscono un grande onere per le massaie americane.

* * * * * * *

I consumatori statunitensi, alle prese con l’inflazione, devono fare i conti con l’aumento dei prezzi della carne bovina, poiché gli allevatori stanno riducendo le loro mandrie a causa della siccità e dei costi elevati dei mangimi, una decisione che renderà più rigide le forniture di bestiame per anni. Il calo del numero di capi di bestiame, combinato con i costi elevati di altre spese di produzione, illustra il motivo per cui il recente calo dei prezzi dei cereali a livelli mai visti dall’invasione dell’Ucraina da parte della Russia, grande esportatore di mais e grano, potrebbe non tradursi immediatamente in una riduzione dei prezzi dei prodotti alimentari al supermercato.

Il mangime è la componente più costosa dell’allevamento di una mucca da carne, quindi i prezzi più bassi dei cereali spesso contribuiscono a ridurre i prezzi della carne. Ma le aziende produttrici di carne devono pagare il prezzo più alto per gli animali quando ce ne sono meno da macellare. Le aziende di trasformazione pagano di più anche per la manodopera, il carburante e altre voci.

I prezzi dei futures del mais sono scesi del 26% da quando hanno toccato i massimi di 10 anni in aprile. I prezzi sono ancora in crescita del 9% rispetto a un anno fa, a circa 6 dollari per bushel. I produttori probabilmente liquideranno ancora più bestiame a causa della siccità. I prezzi della carne macinata sono già aumentati del 10% rispetto all’anno scorso.

Recentemente ha pagato circa 475 dollari a tonnellata per il mangime per pecore fatto con mais e altri ingredienti, con un aumento del 40% rispetto a un anno fa. I prezzi dei polli sono saliti del 20.1% nell’ultimo trimestre rispetto a un anno prima.

A Eugene, nell’Oregon, Blair Hickok, 40 anni, studentessa di contabilità e madre, ha dichiarato che la sua spesa mensile è salita del 40% a oltre 1.200 dollari a causa dell’aumento dei prezzi di manzo, pollo, uova e prodotti come i bratwurst Johnsonville. La sua famiglia ha smesso di mangiare fuori per risparmiare.

* * * * * * *

«U.S. consumers grappling with soaring inflation face more pain from high beef prices as ranchers are reducing their cattle herds due to drought and lofty feed costs, a decision that will tighten livestock supplies for years. The decline in cattle numbers, combined with stiff costs for other production expenses, illustrate why a recent fall in grain prices to levels not seen since Russia’s invasion of major corn and wheat exporter Ukraine may not immediately translate into lower food prices at the grocery store»

«Feed is the largest cost component of raising a cow for beef, so lower grain prices often help to reduce meat prices. But meat companies must pay top dollar for animals when there are fewer to slaughter. Processors are also paying more for labor, fuel and other items»

«Corn futures prices have dropped 26% since hitting a 10-year high in April. Prices are still up 9% from a year ago at about $6 per bushel. Producers will likely liquidate even more cattle due to drought. Ground beef prices have already jumped 10% from last year»

«He recently paid about $475 per ton for sheep feed made with corn and other ingredients, up 40% from a year ago. chicken prices soared 20.1% in the last quarter from a year earlier.»

«In Eugene, Oregon, accounting student and mother Blair Hickok, 40, said her monthly grocery bill spiked 40% to more than $1,200 due to climbing prices for beef, chicken, eggs and products like Johnsonville bratwursts. Her family stopped eating out to save money.»

* * * * * * *


Shrinking U.S. cattle herd signals more pain from high beef prices

Chicago, Aug 9 (Reuters) – U.S. consumers grappling with soaring inflation face more pain from high beef prices as ranchers are reducing their cattle herds due to drought and lofty feed costs, a decision that will tighten livestock supplies for years, economists said.

The decline in cattle numbers, combined with stiff costs for other production expenses, illustrate why a recent fall in grain prices to levels not seen since Russia’s invasion of major corn and wheat exporter Ukraine may not immediately translate into lower food prices at the grocery store.

Feed is the largest cost component of raising a cow for beef, so lower grain prices often help to reduce meat prices. But meat companies like Tyson Foods Inc, which reported weaker-than-expected earnings on Monday, must pay top dollar for animals when there are fewer to slaughter. Processors are also paying more for labor, fuel and other items.  

“There’s really a lot of distance between the price of those grains and the price of those products at the meat counter,” said Bernt Nelson, economist at the American Farm Bureau Federation.

Corn futures prices have dropped 26% since hitting a 10-year high in April after the Ukraine war sparked worries about global supplies. Prices are still up 9% from a year ago at about $6 per bushel.

The lower prices benefit livestock producers, though U.S. government data shows ranchers on July 1 had already reduced the nation’s cattle herd by about 2% from a year earlier to its lowest level for that date in about seven years.

Producers will likely liquidate even more cattle due to drought, said Shane Miller, Tyson Foods’ president of fresh meats, on a conference call following the quarterly results. Chief Executive Donnie King projected prices for cattle and beef will rise moving into 2023 and 2024.

Ground beef prices have already jumped 10% from last year, U.S. government data shows. Rising cattle costs eat in to meatpackers’ profit from high beef prices.

Tyson reported its beef unit’s adjusted operating margins dropped to 10.2% in the April to June quarter from 12.7% the previous quarter and 22.6% a year earlier, while live cattle costs increased about $480 million. Margins will decline further to 5% to 7%, the company said.

Margins and meat supplies get a temporary boost as ranchers send more animals to slaughter, instead of keeping them to reproduce, analysts said. But consumers will ultimately be left with less beef, and it takes nearly two years to raise a cow once the liquidation stops, economists said.  

“The prices are here to stay for a while,” said Glenn Brunkow, a farmer who raises cattle and sheep in Wamego, Kansas.

Brunkow, a member of the Kansas Farm Bureau’s board of directors, said high diesel fuel and feed prices continue to drive up his production costs. He recently paid about $475 per ton for sheep feed made with corn and other ingredients, up 40% from a year ago.

Some consumers are switching to chicken or cheaper types of beef to reduce their food costs, meatpacking executives said. Still, Tyson said beef demand remains strong and reported sales volumes rose 1.3% in the last quarter as prices slipped.

“Even though we may be seeing some relief in feed prices, that demand is going to hold (beef) prices where they’re at,” Iowa State University economist Lee Schulz said.

Other protein options have also become pricier. Tyson said its chicken prices soared 20.1% in the last quarter from a year earlier. Wholesale prices for white eggs, meanwhile, reached a record high of $3.40 a dozen on July 21 due to strong retail demand and avian flu outbreaks that killed egg-laying chickens, data firm Urner Barry said.  

In Eugene, Oregon, accounting student and mother Blair Hickok, 40, said her monthly grocery bill spiked 40% to more than $1,200 due to climbing prices for beef, chicken, eggs and products like Johnsonville bratwursts. Her family stopped eating out to save money.

“We cannot sustain this for very long,” said Hickok.

Pubblicato in: Cina, Devoluzione socialismo, Diplomazia, Economia e Produzione Industriale, Unione Europea

Croazia. Cina inaugura il ponte Pelješac. La Cina c’è ed agisce, proprio qui in Europa.

Giuseppe Sandro Mela.

2022-08-01.

Croazia Pelješac Bridge 001 

«The Pelješac Bridge is a cable-stayed bridge in Dubrovnik-Neretva County, Croatia. The purpose of the bridge is to provide a fixed link from the southeastern Croatian semi-exclave to the rest of the country while bypassing Bosnia and Herzegovina’s short coastal strip at Neum. The bridge spans the sea channel between Komarna on the northern mainland and the peninsula of Pelješac, thereby passing entirely through Croatian territory and avoiding any border crossings with Bosnia and Herzegovina at Neum.

Construction started on 30 July 2018, and the bridge was connected on 28 July 2021. The bridge and its access roads opened for traffic on 26 July 2022.» [Fonte]

Croazia Pelješac Bridge 002

* * * * * * *

Quando l’ex Jugoslavia si è sciolta e la Croazia è diventata indipendente nel 1991, i nuovi confini hanno fatto sì che due parti della costa croata fossero divise da un tratto di costa bosniaca lungo 9 km, noto come corridoio di Neum.

Salutato come uno dei momenti più importanti della storia croata, è stato inaugurato un ponte a lungo atteso che collega le zone costiere meridionali al resto del Paese.

Finora i croati dovevano attraversare il territorio della Bosnia-Erzegovina. Il ponte di Peljesac, lungo 2.4 km, è stato costruito dalla Cina.

L’UE ha accettato di finanziare l’85% del ponte, per un importo di 357 milioni di euro (300 milioni di sterline), utilizzando i fondi di coesione per quello che, a suo dire, avrebbe migliorato significativamente la vita quotidiana dei croati.

Inizialmente la Bosnia si era lamentata che il ponte avrebbe compromesso il suo accesso al mare, finché la Croazia non ha accettato di aumentare l’altezza del ponte a 55 metri.

La società statale cinese che si è aggiudicata l’appalto croato per il ponte – la China Road and Bridge Corporation (CRBC) – ha presentato un’offerta molto inferiore a quella dei suoi rivali europei.

* * * * * * *

Questo fatto si presta a numerose considerazione.

In primo luogo, la Cina è diventata da tempo un attore determinato nello scenario europeo. Occupa le posizioni abbandonate o sguarnite da parte del blocco europeo. Contratta su base paritaria, nel pieno rispetto della sovranità altrui. Così facendo si sta conquistando sempre più numerosi amici.

In secondo luogo, si noti come la offerta fatta dalla The China Road and Bridge Corporation (CRBC)  sia stata di gran lunga inferiore alle offerte fatte da parte di imprese europee. È inutile girare attorno a questo problema: le imprese europee sono fuori mercato.

In terzo luogo, dovrebbe essere evidente la latitanza del Consiglio Europeo. È davvero imbarazzante che sia la Cina a risolvere i problemi della Europa.

* * * * * * *

«When the former Yugoslavia broke up and Croatia became independent in 1991, the new borders meant that two parts of the Croatian coastline were split by a 9km-long section of Bosnian coastline known as the Neum corridor»

«Hailed as one of the biggest moments in Croatian history, a long-awaited bridge has opened that links southern coastal areas to the rest of the country»

«Until now, Croatians had to cross land belonging to Bosnia and Herzegovina …. The 2.4km (1.5-mile) Peljesac bridge was built by China»

«The EU agreed to fund 85% of the bridge, to the tune of €357m (£300m), using cohesion funds for what it said would improve significantly the everyday lives of Croatians»

«Bosnia initially complained the bridge would affect its access to the sea, until Croatia agreed to increase the bridge’s height to 55m (181ft)»

«The Chinese state-owned company that won the Croatian contract for the bridge – The China Road and Bridge Corporation (CRBC) – bid far less than its European rivals»

* * * * * * *


Fanfare as Croatia’s Chinese-built bridge finally opens.

Hailed as one of the biggest moments in Croatian history, a long-awaited bridge has opened that links southern coastal areas to the rest of the country.

Until now, Croatians had to cross land belonging to Bosnia and Herzegovina.

The 2.4km (1.5-mile) Peljesac bridge was built by China but largely funded by the European Union.

Celebrations took place throughout the day, with 250 runners crossing the bridge and small boats with Croatian flags sailing beneath the six pylons.

Residents also took the opportunity to walk along the initial stretch of the bridge before the day culminated in a glittering firework display.

Chinese Premier Li Keqiang delivered a video message at the ceremony. His Croatian counterpart Andrej Plenkovic declared “tonight, we are uniting Croatia!” and described the bridge as a necessity, not a luxury.

During the opening ceremony, a Croatian-made electric hypercar called the Rimac Nevera made the first official crossing.

The EU agreed to fund 85% of the bridge, to the tune of €357m (£300m), using cohesion funds for what it said would improve significantly the everyday lives of Croatians. It also funded access roads, tunnels and other infrastructure.

When the former Yugoslavia broke up and Croatia became independent in 1991, the new borders meant that two parts of the Croatian coastline were split by a 9km-long section of Bosnian coastline known as the Neum corridor.

Bosnia’s right to coastal access dates back to 1699, when Neum was ceded by Dubrovnik – in modern-day Croatia – to what was then the Ottoman Empire.

As Bosnia is not in the EU and Croatia is, anyone trying to go north from the medieval city of Dubrovnik on the southernmost Adriatic coast or cross from the Peljesac peninsula to the mainland had to go through two border checks. Now anyone can drive straight along Croatia’s Adriatic coast via the new bridge.

The mayor of Neum, Dragan Jurkovic, told Bosnian TV that the new bridge would reduce traffic along the coast during the summer months and that he could only see benefits in the new bridge. However, some restaurateurs and traders were concerned that the decline would be bad for the area’s economy.

Tourists, many of them Czechs, Poles and Germans, have become regular visitors to Neum, where prices are considered far cheaper than in Dubrovnik but that is now likely to change.

The bridge has not been without controversy.

Bosnia initially complained the bridge would affect its access to the sea, until Croatia agreed to increase the bridge’s height to 55m (181ft).

The Chinese state-owned company that won the Croatian contract for the bridge – The China Road and Bridge Corporation (CRBC) – bid far less than its European rivals. That prompted an Austrian company to file a complaint, alleging that CRBC was “price-dumping” and receiving Chinese state aid.

China’s Xinhua state news agency said the bridge opening was expected to further deepen mutual trust and expand co-operation between Croatia and Beijing.

Pubblicato in: Economia e Produzione Industriale, Materie Prime, Stati Uniti

Texas. Il prezzo della sabbia è salito del 150% in un anno. Carburante per la inflazione.

Giuseppe Sandro Mela.

2022-07-22.

2022-07-12_ Sabbia 001

«It’s sand scarcity, even more than price, that’s the big hurdle for oil drillers»

«È la scarsità di sabbia, più ancora del prezzo, il grande ostacolo per i trivellatori di petrolio»

* * * * * * *

Percorrendo le desolate autostrade del Bacino Permiano, il più trafficato giacimento petrolifero del mondo, ci sono lunghi tratti in cui si vedono solo impianti di trivellazione, cespugli di salvia e chilometri e chilometri di sabbia.

Ecco perché è così strano che i produttori di greggio del Texas stiano affrontando una carenza di sabbia di oltre 1 milione di tonnellate e che i prezzi siano balzati del 150%.

La sabbia per il fracking, che viene fatta esplodere attraverso le rocce scistose per sbloccare petrolio e gas naturale, ha un prezzo medio di 55 dollari a tonnellata, rispetto ai 22 dollari della fine del 2021.

Fin dai primi giorni della rivoluzione dello scisto, più di dieci anni fa, gli operatori del fracking si sono affidati alla sabbia estratta che viene consegnata ai loro siti tramite camion, su distanze anche di 100 miglia.

Perché non usare la sabbia che si trova proprio sotto i piedi?

Nomad ha sviluppato macchinari che possono andare direttamente ai pozzi di fracking (più o meno a 10 o 20 miglia), riducendo notevolmente l’onere dei costi di trasporto e il lungo processo di autotrasporto.

Brock ha lasciato il suo lavoro alla Covia, uno dei più grandi estrattori di sabbia per fracking del mondo, nel febbraio 2020 per contribuire all’avvio di Nomad. Il mese scorso ha lanciato la sua prima miniera di sabbia mobile nel Texas occidentale, dopo l’enorme impennata dei prezzi.

È la scarsità di sabbia, più ancora del prezzo, il grande ostacolo per i trivellatori di petrolio.

La situazione è così estrema che alcune compagnie petrolifere stanno trasportando la sabbia in treno dal Wisconsin a un costo quasi doppio.

Nel frattempo, i deficit nelle forniture energetiche – e la conseguente impennata dei prezzi – sono tra i maggiori responsabili del drammatico aumento dell’inflazione in tutto il pianeta.

La domanda totale di sabbia da fratturazione negli Stati Uniti è attualmente superiore di circa il 5% rispetto ai circa 25 milioni di tonnellate prodotte, secondo il consulente industriale Enverus, che stima un deficit di circa 1.3 milioni di tonnellate.

Brock di Nomad afferma che scavando nella terra a circa 4.6 metri di profondità su 40 acri, una delle sue unità mobili può produrre circa 1 milione di tonnellate.

Il rimbalzo dei prezzi della sabbia è emblematico dell’inflazione che si sta diffondendo nel Permiano.

I costi per le aziende statunitensi dello shale stanno aumentando del 25%, ovvero quasi il triplo del tasso d’inflazione.

Trasformare la sabbia in un’attività mobile significa affrontare un’altra area di strozzature della catena di approvvigionamento: il trasporto su strada.

Poiché Nomad può scavare la sabbia vicino al luogo in cui è necessaria, un singolo veicolo a 18 ruote può fare più viaggi avanti e indietro dalla miniera mobile al pozzo in un giorno. Ciò significa che sono necessari solo 10 camion in totale, rispetto ai circa 70 utilizzati per le consegne tradizionali dalle miniere. Ciò comporta una significativa riduzione dei costi di trasporto.

Dopo lo scavo, la sabbia viene lavata e lasciata asciugare all’aria in cumuli per alcuni giorni. Nelle miniere fisse, viene poi soffiata in gigantesche macchine essiccatrici.

* * * * * * *

«Bumping along the desolate highways of the Permian Basin, the world’s busiest oil field, there are long stretches where all you see are drilling rigs, sage brush and miles upon miles of sand»

«That’s why it’s so strange that Texas crude producers are facing a sand shortage of more than 1 million tons and prices that have jumped 150%»

«Frack sand, which gets blasted through shale rocks to unlock oil and natural gas, is averaging $55 a ton, up from $22 at the end of 2021»

«Since the early days of the shale revolution more than a decade ago, fracking operators have relied on mined sand that’s delivered to their sites by truck — across distances as long as 100 miles»

«Why not just use the sand that’s right under your feet?»

«Nomad has developed machinery that can go directly to the frack wells (give or take 10 to 20 miles), vastly reducing the burden of freight costs and the time-consuming process of trucking»

«Brock left his job at Covia, one of the world’s biggest frack-sand miners, in February 2020 to help start Nomad. It launched its first mobile sand mine in West Texas last month, after the huge surge in prices»

«It’s sand scarcity, even more than price, that’s the big hurdle for oil drillers»

«Things are so extreme that some oil companies are shipping sand in by train from Wisconsin at almost double the cost»

«Meanwhile, deficits in energy supplies — and the resulting surge in prices — are among the biggest drivers of the dramatic rise in inflation across the planet»

«Total US demand for frack sand is currently about 5% higher than the roughly 25 million tons being produced, according to industry consultant Enverus, which estimates a shortfall of roughly 1.3 million tons»

«Brock of Nomad says that by carving into the earth about 15 feet (4.6 meters) deep across 40 acres, one of his mobile units can produce about 1 million tons»

«The rebound for sand prices is emblematic of the inflation spreading across the Permian»

«Costs for US shale companies are soaring at a rate of 25%, or almost triple the headline inflation rate»

«Turning sand into a mobile business tackles another area of supply-chain bottlenecks: trucking»

«Because Nomad can dig up sand close to where it’s needed, a single 18-wheeler can make multiple trips back and forth from the mobile mine to the well in one day. That means as few as 10 trucks total are needed, down from the roughly 70 used in traditional deliveries from mines. That brings a significant drop in freight costs»

«After sand is dug up, it gets washed and then left to air dry in piles for a few days. At stationary mines, it then gets blasted in giant drying machines»

* * * * * * *


The Cost of Sand Has Spiked 150% in Texas

(Bloomberg) — Bumping along the desolate highways of the Permian Basin, the world’s busiest oil field, there are long stretches where all you see are drilling rigs, sage brush and miles upon miles of sand. That’s why it’s so strange that Texas crude producers are facing a sand shortage of more than 1 million tons and prices that have jumped 150%.

Frack sand, which gets blasted through shale rocks to unlock oil and natural gas, is averaging $55 a ton, up from $22 at the end of 2021, data from energy-research firm Lium show. Demand is climbing as oil explorers turn the taps back on after Covid-driven cutbacks. But like in so many pockets of the economy, the recovery is sparking a mismatch. Sand suppliers have seen disruptions, labor shortages and trucking bottlenecks. The chief executive officer of US Silica Holdings Inc., the largest publicly traded frack-sand miner, has dubbed the tight market “sandemonium” and said his company is sold out.

That’s where Steve Brock and his upstart sand-mining operation, Nomad Proppant LLC, come in. Since the early days of the shale revolution more than a decade ago, fracking operators have relied on mined sand that’s delivered to their sites by truck — across distances as long as 100 miles. Brock, Nomad’s chief commercial officer, wants to turn that model on its head.

His idea: Why not just use the sand that’s right under your feet?

Nomad has developed machinery that can go directly to the frack wells (give or take 10 to 20 miles), vastly reducing the burden of freight costs and the time-consuming process of trucking.

“We’re not brain surgeons here — all we’re doing is finding the best spots and washing and delivering the sand,” said Brock, 34. “Frankly, that it took us this long to get here is pretty wild.”

Brock left his job at Covia, one of the world’s biggest frack-sand miners, in February 2020 to help start Nomad. It launched its first mobile sand mine in West Texas last month, after the huge surge in prices. He calls the timing “very lucky.”

It’s sand scarcity, even more than price, that’s the big hurdle for oil drillers. Pioneer Natural Resources Co., the Permian’s biggest producer, said it expected oil and natural gas output would take a hit last quarter because of sand issues. Things are so extreme that some oil companies are shipping sand in by train from Wisconsin at almost double the cost.

Whether Nomad and rivals like Hi-Crush Inc., one of the original frack-sand pioneers that’s now also introduced mobile units, can help solve the sand squeeze could play a significant role in the global energy markets.

While drillers in the Permian have shown restraint in ramping up oil production, the last thing the world needs is for sand problems to place even more limitations on their output. The US, the world’s top oil producer and among the biggest liquefied natural gas exporters, has become an even more important supplier in light of Russia’s war in Ukraine and OPEC’s struggles to meet production targets. Meanwhile, deficits in energy supplies — and the resulting surge in prices — are among the biggest drivers of the dramatic rise in inflation across the planet.

 “You cannot take sand for granted,” said Chris Wright, CEO of Liberty Energy Inc., the second-biggest frack-services provider. Without enough, “I’m quite concerned about global balances for oil, gas and food — those are intimately tied.”

Total US demand for frack sand is currently about 5% higher than the roughly 25 million tons being produced, according to industry consultant Enverus, which estimates a shortfall of roughly 1.3 million tons.

Brock of Nomad says that by carving into the earth about 15 feet (4.6 meters) deep across 40 acres, one of his mobile units can produce about 1 million tons. And since the units are mobile, Nomad doesn’t need to limit itself to the huge, dusty dunes of traditional mines.

“We can find deposits that previously wouldn’t make sense if you thought you’re stationary, because maybe this deposit only has 3 million tons,” Brock said. “That can give me two years’ worth of work, and then I can move over 2 miles to the next spot.”

The rebound for sand prices is emblematic of the inflation spreading across the Permian. Analysts at JPMorgan Chase & Co. estimate costs for US shale companies are soaring at a rate of 25%, or almost triple the headline inflation rate.

A lot of that’s driven by shortages. There aren’t enough steel pipes, not enough drilling rigs, not enough bulldozers – and critically, not enough people. Occidental Petroleum Corp. CEO Vicki Hollub has said worker shortages along with supply-chain snarls explain some of why US oil drillers aren’t significantly expanding production.

Turning sand into a mobile business tackles another area of supply-chain bottlenecks: trucking.

Because Nomad can dig up sand close to where it’s needed, a single 18-wheeler can make multiple trips back and forth from the mobile mine to the well in one day. That means as few as 10 trucks total are needed, down from the roughly 70 used in traditional deliveries from mines. That brings a significant drop in freight costs. But even more critically in the Permian, where labor is extremely tight and the unemployment rate is hovering just above 3%, it means needing fewer truck drivers.

As Brock puts it: “You solve that issue, you solve a lot of problems.”

Devon Energy Corp., one of the region’s biggest explorers, is among those already turning to mobile mines. The company is working with Hi-Crush to develop its unit. The pilot project will sit on a roughly 5-acre pad site and account for a quarter of Devon’s total sand needs in the Delaware Basin, in the western half of the Permian.

“It gives us a sense of security with our supply,” said John Raines, vice president of Devon’s Delaware Basin business unit.

It’s also helping to spark a revival for companies like Hi-Crush, which went into bankruptcy during the sand-bust days of 2020.

“It’s definitely our growth engine,” Hi-Crush CEO Dirk Hallen said of the company’s three mobile units and plans to roll out more later this year. With fracking operators now consuming almost three times as much sand each month as they did five years ago, Hallen said demand is likely to stay strong.

And Brock of Nomad points out that mobile units will be able to meet demand faster than traditional mines because not having to truck as far also means eliminating the time-consuming step of drying.

After sand is dug up, it gets washed and then left to air dry in piles for a few days. At stationary mines, it then gets blasted in giant drying machines. That way when trucks are loaded, they’re carrying as much sand as possible. But Brock says since his trucks only go a short distance, he can skip the machine drying, eliminating pricey equipment.

The cost savings were a key part of Nomad’s pitch as the company was getting off the ground during the depths of the pandemic, when Brock says prices were so low that sand was a “four-letter word,” and not just literally.

 “When you get crunched, and you need to start saving some money,” he said, “you start getting creative.”

Pubblicato in: Devoluzione socialismo, Economia e Produzione Industriale, Materie Prime, Russia

Gas Naturale. Sale del 700% e diventa l’arma della nuova guerra, per il momento, fredda.

Giuseppe Sandro Mela.

2022-07-12.Lavron e Putin che ridono 001

 Ricordiamo sommessamente come a livello mondiale sia la Russia a disporre delle maggiori scorte di gas naturale ed anche il principale estrattore.

Il gas naturale inteso come arma è quasi totalmente nelle mani del Presidente Putin, il quale lo usa con consumata maestria.

Le sanzioni di Joe Biden hanno proibito all’enclave liberal socialista di acquistare gli energetici russi, ma nulla possono fare sulla Russia, che li vende dove e quando vuole, ed al prezzo che desidera.

Si tenga anche presente come il gas naturale abbia quotazioni sui mercati internazionali occidentali che differiscono anche molto da quelle sul mercato europeo.

Non solo.

Più l’occidente liberal ne fa salire i prezzi, più il Presidente Putin ne trae intimo godimento.

* * * * * * *

Il gas naturale sale del 700% e diventa la forza trainante della nuova guerra fredda.

Una mattina di inizio giugno è scoppiato un incendio in un oscuro impianto del Texas che preleva il gas naturale dai bacini di scisto degli Stati Uniti, lo raffredda in forma liquida e lo spedisce oltreoceano. È stato spento in circa 40 minuti.

Sembra una storia per la stampa locale, al massimo – se non fosse che più di tre settimane dopo, le onde d’urto finanziarie e politiche si stanno ancora ripercuotendo in Europa, Asia e oltre.

È uno dei principali motori dell’inflazione globale, con balzi dei prezzi estremi anche per gli standard dei mercati turbolenti di oggi: circa il 700% in Europa dall’inizio dell’anno scorso, spingendo il continente sull’orlo della recessione.

In breve, il gas naturale ora rivaleggia con il petrolio come carburante per la geopolitica.

È la guerra in Ucraina che ha catalizzato la crisi del gas a un nuovo livello, togliendo una parte cruciale delle forniture.

La Germania afferma che la carenza di gas potrebbe innescare un crollo simile a quello di Lehman Brothers, mentre la potenza economica europea si trova ad affrontare la prospettiva senza precedenti di aziende e consumatori a corto di energia.

Molti Paesi si sono rivolti al gas naturale come parte di una transizione verso un’energia più pulita, cercando di eliminare gradualmente l’uso di combustibili fossili più sporchi come il carbone e, in alcuni casi, anche l’energia nucleare.

I prezzi del gas in Europa e in Asia sono saliti di oltre il 60% nelle settimane successive alla chiusura temporanea di Freeport, un periodo che ha visto anche ulteriori tagli alle forniture da parte della Russia.

La guerra e il Covid possono far vacillare tutti i prodotti di base, dal grano all’alluminio e allo zinco, ma poco è paragonabile alla volatilità stomachevole dei prezzi globali del gas.

La Cina, il primo acquirente di GNL al mondo lo scorso anno, è nel bel mezzo di uno dei più grandi ampliamenti mai visti nel settore.

Dieci nuovi terminali di importazione dovrebbero entrare in funzione solo nel 2023, e la capacità raddoppierà circa nei cinque anni fino al 2025.

La Spagna, ad esempio, possiede i più grandi impianti di rigassificazione d’Europa, ma ha solo due gasdotti di collegamento con la Francia attraverso i Pirenei, in grado di trasportare poco più di un decimo di questi volumi.

I cantieri navali della Corea del Sud, dove si costruisce la maggior parte delle navi metaniere del mondo, stanno registrando un’impennata di ordini che li lascia a corto di manodopera qualificata.

Per alcune economie emergenti le conseguenze sono già state disastrose.

* * * * * * *


«Natural gas soars 700%, becoming driving force in the new cold war»

«One morning in early June, a fire broke out at an obscure facility in Texas that takes natural gas from US shale basins, chills it into a liquid and ships it overseas. It was extinguished in 40 minutes or so»

«It sounds like a story for the local press, at most — except that more than three weeks later, financial and political shockwaves are still reverberating across Europe, Asia and beyond»

«It’s a key driver of global inflation, posting price jumps that are extreme even by the standards of today’s turbulent markets — some 700% in Europe since the start of last year, pushing the continent to the brink of recession»

«In short, natural gas now rivals oil as the fuel that shapes geopolitics»

«It’s the war in Ukraine that catalyzed the gas crisis to a new level, by taking out a crucial chunk of supply»

«Germany says gas shortfalls could trigger a Lehman Brothers-like collapse, as Europe’s economic powerhouse faces the unprecedented prospect of businesses and consumers running out of power»

«Many countries have turned to natural gas as part of a transition to cleaner energy, as they seek to phase out use of dirtier fossil fuels like coal and in some cases nuclear power too»

«Gas prices in Europe and Asia surged more than 60% in the weeks since Freeport was forced to temporarily shut down, a period that’s also seen further supply cuts by Russia»

«War and Covid may be roiling every commodity from wheat to aluminum and zinc, but little compares to the stomach-churning volatility of global gas prices»

«In Qatar, Exxon Mobil Corp. and Shell Plc are among energy giants with stakes in a $29 billion project to boost LNG exports»

«Germany has no LNG terminals»

«China, the world’s top LNG buyer last year, is in the midst of one of the largest buildouts the industry has ever witnessed»

«Ten new import terminals are slated to come online in 2023 alone, and capacity will roughly double in the five years through 2025»

«Spain, for example, has Europe’s biggest regasification facilities — but it only has two pipeline connections to France via the Pyrenees, capable of carrying little more than one-tenth of those volumes»

«Shipyards in South Korea, where most of the world’s LNG tankers are built, are seeing a surge in orders that’s leaving them short of skilled labor»

«For some emerging economies the consequences have already been disastrous»

* * * * * * *


Natural Gas Soars 700%, Becoming Driving Force in the New Cold War

(Bloomberg) — One morning in early June, a fire broke out at an obscure facility in Texas that takes natural gas from US shale basins, chills it into a liquid and ships it overseas. It was extinguished in 40 minutes or so. No one was injured.

It sounds like a story for the local press, at most — except that more than three weeks later, financial and political shockwaves are still reverberating across Europe, Asia and beyond.

That’s because natural gas is the hottest commodity in the world right now. It’s a key driver of global inflation, posting price jumps that are extreme even by the standards of today’s turbulent markets — some 700% in Europe since the start of last year, pushing the continent to the brink of recession. It’s at the heart of a dawning era of confrontation between the great powers, one so intense that in capitals across the West, plans to fight climate change are getting relegated to the back-burner.

In short, natural gas now rivals oil as the fuel that shapes geopolitics. And there isn’t enough of it to go around.

It’s the war in Ukraine that catalyzed the gas crisis to a new level, by taking out a crucial chunk of supply. Russia is cutting back on pipeline deliveries to Europe — which says it wants to stop buying from Moscow anyway, if not quite yet. The scramble to fill that gap is turning into a worldwide stampede, as countries race to secure scarce cargoes of liquefied natural gas ahead of the northern-hemisphere winter.

                         The New Oil?

Germany says gas shortfalls could trigger a Lehman Brothers-like collapse, as Europe’s economic powerhouse faces the unprecedented prospect of businesses and consumers running out of power. The main Nord Stream pipeline that carries Russian gas to Germany is due to shut down on July 11 for ten days of maintenance, and there’s growing fear that Moscow may not reopen it. Group of Seven leaders are seeking ways to curb Russia’s gas earnings, which help finance the invasion of Ukraine — and backing new LNG investments. And poorer countries that built energy systems around cheap gas are now struggling to afford it. 

“This is the 1970s for natural gas,” says Kevin Book, managing director at ClearView Energy Partners LLC, a Washington-based research firm. “The world is now thinking about gas as it once thought about oil, and the essential role that gas plays in modern economies and the need for secure and diverse supply have become very visible.”

Natural gas used to be a sleepy commodity that changed hands in fragmented regional markets. Now, even though globalization appears to be in retreat across much of the world economy, the gas trade is headed in the opposite direction. It’s globalizing fast — but maybe not fast enough.

Many countries have turned to natural gas as part of a transition to cleaner energy, as they seek to phase out use of dirtier fossil fuels like coal and in some cases nuclear power too. Major producers — like the US, which has quickly risen up the ranks of LNG exporters to rival Qatar as the world’s biggest — are seeing surging demand for their output. Forty-four countries imported LNG last year, almost twice as many as a decade ago. But the fuel is much harder to shift around the planet than oil, because it has to be liquefied at places like the Freeport plant in Texas. 

And that’s why a minor explosion at a facility seen as nothing special by industry insiders — it’s not the biggest or most sophisticated of the seven terminals that send LNG from American shores – had such an outsized impact.

                         ‘The Current Crisis’

Gas prices in Europe and Asia surged more than 60% in the weeks since Freeport was forced to temporarily shut down, a period that’s also seen further supply cuts by Russia. In the US, by contrast, prices for the fuel plunged almost 40% — because the outage means more of the gas will remain available for domestic use.

There were already plenty of signs of extreme tightness in the market. War and Covid may be roiling every commodity from wheat to aluminum and zinc, but little compares to the stomach-churning volatility of global gas prices. In Asia, the fuel is now about three times as expensive as a year ago. In Europe, it’s one of the main reasons why inflation just hit a fresh record.

Natural gas remains cheaper in the US — but even there, futures had more than doubled this year before the Freeport shutdown.  With key political allies from Germany to Ukraine desperate to buy American gas, US manufacturers warn that more sales abroad will mean higher costs at home. The market reaction to the Freeport fire illustrates a “clear connection between LNG exports and the inflationary impacts to domestic prices for natural gas and electricity,” says Paul Cicio, president of the Industrial Energy Consumers of America.To meet all the new demand will require a massive wave of investment in supply. That’s already under way, and it got a boost at last week’s meeting of the Western world’s biggest economies, where G-7 leaders vowed to back public investments in gas projects — saying they’re “necessary in response to the current crisis.” 

Among the urgent infrastructure needs:

– Export facilities:  The rush for LNG is accelerating projects in North America and beyond. Last month, Cheniere Energy Inc. greenlighted a terminal expansion in Texas. In April, a Canadian LNG project backed by Indonesian tycoon Sukanto Tanoto got the go-ahead to begin construction. In Qatar, Exxon Mobil Corp. and Shell Plc are among energy giants with stakes in a $29 billion project to boost LNG exports. “You have global gas prices so high that they incentivize the signing of new long-term contracts,” says Samantha Dart, head of natural gas research at Goldman Sachs. “We are seeing those announcements coming left and right, with a lot of US proposed liquefaction facilities.”  

– Import terminals:  In Europe, plans for about 20 terminals have been announced or sped up since the Ukraine war began. Germany, which has no LNG terminals, has allocated about $3 billion to charter four floating ones and connect them to the country’s network. The first one is supposed to go online around the end of this year. Emphasizing the need for speed, Vice-Chancellor Robert Habeck pointed out that Tesla Inc. managed to build a factory near Berlin in just two years, and said it’s time to cut through German red tape. “First, dig the trench where the pipe is to go in,” he said. “Then, the permit comes.” China, the world’s top LNG buyer last year, is in the midst of one of the largest buildouts the industry has ever witnessed. Ten new import terminals are slated to come online in 2023 alone, and capacity will roughly double in the five years through 2025, according to BloombergNEF.  

– Pipelines: Even with more capacity to receive shipments of LNG and turn it back into gas form — a process known as regasification — Europe lacks infrastructure to move it where it might be needed. Spain, for example, has Europe’s biggest regasification facilities — but it only has two pipeline connections to France via the Pyrenees, capable of carrying little more than one-tenth of those volumes, according to Bloomberg Intelligence.  

– Tankers: Shipyards in South Korea, where most of the world’s LNG tankers are built, are seeing a surge in orders that’s leaving them short of skilled labor. They’ve been forced to look outside the country to places like Thailand for welders, electricians and painters, raising their quotas for migrant workers. 

In some cases all of this means a U-turn away from policies aimed at combating climate change -– especially in Europe. Government-backed lenders like the European Investment Bank and the European Bank for Reconstruction and Development, which had been focused on financing renewable energy, have signaled a shift and said they’re now more willing to back gas projects.But Europe’s breakneck efforts won’t be enough, according to Bloomberg Intelligence, which calculates that LNG imports could meet 40% of the region’s gas needs by 2026 — double last year’s figure, but still far short of the volumes that Russia has been supplying.

                         ‘Never More Evident’

That’s why warnings of a gas-driven slump in Europe’s economies are escalating.

Last week, Germany’s government said it’s in talks to bail out utility Uniper SE, which is losing some 30 million euros ($31 million) a day because it has to cover the missing Russian gas at soaring spot-market prices. Companies like chemicals giant BASF SE say they may have to cut output. Deutsche Bank cited growing risks of an “imminent German recession on the back of energy rationing,” and pointed to soaring power prices in Italy and France too. Morgan Stanley predicted the whole euro area will be in a downturn by year-end.

For some emerging economies — which increasingly have to compete with rich countries like Germany in bidding for LNG cargoes, as gas goes global — the consequences have already been disastrous. 

In Pakistan, which built its energy system on cheap LNG, planned blackouts are plunging regions into darkness during the sweltering summer months. Shopping malls and factories in major cities have been ordered to shut early, and government officials are working shorter hours. 

Thailand is curbing LNG imports due to surging prices, potentially putting the country at risk of fuel shortages. Myanmar, which is grappling with political instability, stopped all LNG purchases late last year when prices started to rally. India and China have also cut back imports.

“Where once natural gas markets were largely regionally siloed, we now have a globalized spot market that has connected the world’s exposure to the fuel that has become critical to many economies,” said James Whistler, Singapore-based managing director at Vanir Global Markets, an energy and environmental brokerage. “This has never been more evident than in the past few months.”

Pubblicato in: Commercio, Economia e Produzione Industriale

H&M e Zara, leader mondiali della moda al dettaglio, presentano conti in attivo.

Giuseppe Sandro Mela.

2022-07-08.

2022-07-05__ H&M 001

H&M Hennes & Mauritz AB, comunemente conosciuta come H&M, è un’azienda di abbigliamento svedese proprietaria inoltre dei marchi Cheap Monday, COS, Monki, Weekday & Other Stories e Honda.

«H&M Group is a family of brands and businesses, making it possible for customers around the world to express themselves through fashion and design, and to choose a more sustainable lifestyle. We create value for people and society in general by delivering our customer offering and by developing with a focus on sustainable and profitable growth.» [H&M]

* * * * * * *

Pochi anni or sono H&M ha perso gran parte del mercato cinese avendo preso una posizione impropria sul Xinjiang.

H&M, Nike ed Adidas offendono la Cina ed i cinesi non comprano più i loro prodotti.

H&M è scomparsa dalla Cina. Cerca di andare a Canossa, ma sarà dura. Se mai sarà.

«In the statement, the world’s second-biggest fashion retailer expressed concern about the allegations of forced labour in Xinjiang province and said it would no longer source cotton from there»

«The company, based in Sweden, has faced a backlash in China in recent days after it voiced concerns last year about alleged human rights abuses in Xinjiang province»

«ABC News reported that the city government of Shanghai had asked H&M to correct a ‘problematic map of China’»

«ABC said Internet users reported the problem to the management of H&M’s website and the Shanghai municipal bureau of planning and natural resources ordered it to be changed»

* * * * * * *

Il gruppo di moda economico H&M prevede di aumentare ulteriormente i prezzi quest’anno, ha dichiarato mercoledì dopo aver riportato profitti superiori alle previsioni, con margini che beneficiano di meno sconti.

H&M nella prima metà dell’anno ha aumentato i prezzi a causa dell’aumento dei costi di trasporto e delle materie prime.

Gli aumenti varieranno da un mercato all’altro a seconda della situazione della concorrenza.

Nella catena di fornitura esistono ancora interruzioni e ritardi, ma si stanno gradualmente attenuando. Allo stesso tempo, c’è un’inflazione sostanziale.

L’utile ante imposte del secondo rivenditore di moda al mondo è aumentato del 33% rispetto all’anno precedente, raggiungendo i 4.78 miliardi di corone (471 milioni di dollari) nel secondo trimestre del gruppo svedese, con una crescita delle vendite del 12% in valuta locale.

Un aumento delle vendite a prezzo pieno e una diminuzione dei ribassi hanno aiutato H&M a incrementare il margine operativo al 9.2% dall’8.3% del secondo trimestre, nonostante l’aumento dei costi.

Le vendite nei negozi fisici sono aumentate in modo sostanziale, mentre l’online continua a fare bene.

Le vendite in valuta locale a giugno, il primo mese del terzo trimestre di H&M, sono calate del 6%, soprattutto a causa della sospensione delle attività in Russia, Ucraina e Bielorussia.

Nel giugno 2021, le vendite sono aumentate grazie alla riapertura di oltre 1,000 negozi dopo la chiusura temporanea a causa della pandemia.

In Cina, H&M ha registrato un crollo delle vendite nell’ultimo anno a causa di un boicottaggio dei consumatori per la posizione dell’azienda sulla regione dello Xinjiang.

Il principale rivale di H&M, Inditex, proprietario di Zara, ha registrato all’inizio del mese un aumento dell’80% degli utili nel primo trimestre fiscale, grazie all’aumento delle vendite.

Tuttavia, le azioni di H&M nell’ultimo anno hanno perso il 39.38& del loro valore al 5 luglio 2021.

* * * * * * *


«Budget fashion group H&M expects to raise prices further this year, it said on Wednesday after reporting forecast-beating profits with margins benefiting from fewer discounts»

«H&M in the first half of the year raised prices in the face of higher transport and raw material costs»

«Hikes would vary between markets depending on the competitive situation»

«Disruption and delays still exist in the supply chain, but are gradually being eased. At the same time, there is substantial inflation»

«Pretax profit at the world’s second-biggest fashion retailer jumped 33% from a year earlier to 4.78 billion crowns ($471 million) in the Swedish group’s second quarter, on sales growth of 12% measured in local currencies»

«An increase in full-price sales and a decrease in markdowns helped H&M boost its operating margin to 9.2% from 8.3% in the second quarter despite higher costs»

«Sales in physical stores increased substantially while online continues to do well»

«Local-currency sales in June, the first month of H&M’s third quarter, fell 6%, mostly because it halted its business in Russia, Ukraine and Belarus»

«In June 2021, sales soared as over 1,000 closed stores re-opened after closing temporarily due to the pandemic»

«In China, H&M has seen sales slump over the past year amid a consumer boycott over the company’s position on the Xinjiang region»

«H&M’s biggest rival, Inditex, the owner of Zara, reported an 80% jump in profit earlier this month in its fiscal first quarter on the back of soaring sales»

* * * * * * *


H&M flags more price hikes, profits boosted by fewer discounts.

Stockholm, June 29 (Reuters) – Budget fashion group H&M expects to raise prices further this year, it said on Wednesday after reporting forecast-beating profits with margins benefiting from fewer discounts.

H&M in the first half of the year raised prices in the face of higher transport and raw material costs, and Chief Executive Officer Helena Helmersson told Reuters prices would likely rise also throughout the rest of the year. Hikes would vary between markets depending on the competitive situation, she said.

“Although most of the restrictions associated with the Covid-19 pandemic essentially seem to be over, many challenges remain. Disruption and delays still exist in the supply chain, but are gradually being eased. At the same time, there is substantial inflation,” H&M said.

Pretax profit at the world’s second-biggest fashion retailer jumped 33% from a year earlier to 4.78 billion crowns ($471 million) in the Swedish group’s second quarter, on sales growth of 12% measured in local currencies.

H&M’s shares were up 5% at 1133 GMT after the group posted the jump in March-May profit as shoppers returned to its stores in the aftermath of the pandemic.

An increase in full-price sales and a decrease in markdowns helped H&M boost its operating margin to 9.2% from 8.3% in the second quarter despite higher costs.

“Sales in physical stores increased substantially while online continues to do well,” Helmersson said in a statement.

Analysts polled by Refinitiv had on average forecast a 3.87 billion crown profit.

Local-currency sales in June, the first month of H&M’s third quarter, fell 6%, mostly because it halted its business in Russia, Ukraine and Belarus. Russia was H&M’s sixth-biggest market with 4% of sales in the fourth quarter of 2021.

RBC analyst Richard Chamberlain said in a note to clients the June sales were lower than expected. In June 2021, sales soared as over 1,000 closed stores re-opened after closing temporarily due to the pandemic. CEO Helmersson noted that July and August comparisons would be less tough.

In China, H&M has seen sales slump over the past year amid a consumer boycott over the company’s position on the Xinjiang region and a general slump in consumer demand due to COVID-19 lockdowns.

H&M’s biggest rival, Inditex, the owner of Zara, reported an 80% jump in profit earlier this month in its fiscal first quarter on the back of soaring sales. H&M also said on Wednesday it had decided to use an authorisation given by owners at its annual general meeting in May to buy back 3 billion crowns worth of shares.

Pubblicato in: Devoluzione socialismo, Economia e Produzione Industriale

Italia. Primo semestre 22. Immatricolazioni auto -22.7%.

Giuseppe Sandro Mela.

2022-07-04.

2022-07-04__ Immatricolazioni Auto 001

A giugno le immatricolazioni sono crollate per il dodicesimo mese consecutivo.

In totale sono state vendute 127,209 autovetture, il 15% in meno rispetto alle 149,670 dello stesso mese del 2021.

Il primo semestre dell’anno si è chiuso così con un saldo negativo del 22.7% a quota 684,228 veicoli contro gli 88,090 di un anno prima

Stellantis ha immatricolato a giugno 48,427 autovetture, il 14.2% in meno rispetto alle 56,443 del 2021

Molto negativo anche il risultato del primo semestre che chiude con un calo del 22.7% sullo stesso periodo del 2021

* * * * * * *

Mercato auto Italia 2022: il mese di giugno chiude con un -15%

«Guardando al primo semestre dell’anno, in Italia ci sono state 684.228 nuove auto immatricolate, pari ad una flessione del 22,7% rispetto allo stesso periodo del 2021.

Nei primi 6 mesi dl 2022 sono state immatricolate circa 200.000 auto in meno sul corrispondente periodo 2021. ….

Inoltre, UNRAE evidenzia come scendono lentamente i fondi degli incentivi destinati alle elettriche e alle Plug-in. A questo ritmo, le proiezioni indicano un mancato utilizzo dei fondi pari al 60% per la fascia 0-20 g/Km e all’80% per la fascia 21-60 g/Km. ….

Tornando ai dati di giugno 2022, parlando delle alimentazioni, benzina e diesel perdono rispettivamente il 18% e 21% dei volumi, fermandosi al 29,2% e 20,7% di quota nel mese. Leggermente positivo l’andamento del GPL (+1,3%), con una quota in salita al 9,7%. Crolla il metano con una quota che si ferma all’1,1%.

Per quanto riguarda i modelli elettrificati, delle BEV e delle PHEV abbiamo già detto, mentre per quanto riguarda le ibride, il mese di giugno si chiude con una quota del 29,1%, composta per l’8,7% di “full” hybrid e per il 24,3% di “mild” hybrid.»

* * * * * * *


Nuovo tonfo del mercato delle auto in Italia, -15% a giugno. Nel primo semestre -22,7% 

Prosegue l’emorragia delle vendite, in calo per il dodicesimo mese consecutivo. Per Stellantis -14,2% e da gennaio a giugno -27,8%. Promotor: da incentivi modesti effetti.

Agi – Non si arresta l’emorragia del mercato automobilistico italiano. A giugno le immatricolazioni sono crollate per il dodicesimo mese consecutivo. In totale sono state vendute 127.209 autovetture, il 15% in meno rispetto alle 149.670 dello stesso mese del 2021. Il primo semestre dell’anno si è chiuso così con un saldo negativo del 22,7% a quota 684.228 veicoli contro gli 885.090 di un anno prima.

Stellantis ha immatricolato a giugno 48.427 autovetture, il 14,2% in meno rispetto alle 56.443 del 2021. La quota di mercato si attesta al 38,1%. Nei primi sei mesi del 2022, il gruppo ha venduto 254.193 automobili, il 27,8% in meno rispetto alle 351.158 dello stesso periodo dell’anno scorso, per una quota di mercato del 37,2%.
Gli incentivi varati con il Decreto del 6 aprile e prenotabili sulla piattaforma del Mise dal 25 maggio hanno avuto un “effetto molto modesto sulle immatricolazioni di autovetture in giugno che hanno fatto registrare un calo del 15% su giugno 2021, mentre nel mese di maggio il calo su maggio 2021 era stato del 15,1%”.

Molto negativo anche il risultato del primo semestre che chiude con un calo del 22,7% sullo stesso periodo del 2021 e che, se proiettato sull’intero anno, tenendo conto della stagionalità delle vendite, dà una previsione di 1.179.703 immatricolazioni per l’intero 2022, un livello veramente disastroso e in linea con quelli registrati alla fine degli anni ’60 del secolo scorso. Lo afferma il Centro Studi Promotor definendo la situazione “sempre più drammatica”. 

Pubblicato in: Agricoltura, Cina, Economia e Produzione Industriale

Cina. Condizioni meteorologiche mettono in crisi la agricoltura e prezzo del grano è in robusta salita.

Giuseppe Sandro Mela.

2022-06-11.

Cigni neri 001

«Chinese consumers are likely to have to pay more for food staples like noodles and bread this year, as record wheat prices in the world’s top consumer of the grain get passed on to food makers»

«Wheat harvested in China in recent weeks is being sold at around 3,200 yuan ($477) per tonne, about 30% higher than a year ago»

«Surging farming costs and tight stocks have pushed up prices that are also being supported by worries that heavy rain last year could lead to a smaller crop»

«Global wheat supplies are also tight due to the war in major exporter Ukraine»

«Prices of refined flour are already up more than 10% in China since the beginning of the year»

«The farming cost for wheat in 2021/22 was around 575 yuan per tonne, up about 100 yuan from the previous year, due to rising fertiliser and seed prices»

«With nitrogen alone, prices have jumped about 100 yuan per bag»

«the cost for winter wheat was as high as 700 yuan per tonne because the crop was planted late last fall due to heavy rain»

«Old (crop) wheat supplies in the end were tight, and prices hit 3,500 yuan per tonne»

«If the feed sector is not buying, the supply situation will be much better»

«High wheat prices are squeezing flour mills, which are struggling with overcapacity and weak demand during the traditionally low consumption season»

«at least 70% of millers are losing money»

«higher wheat prices will eventually be passed on to end products»

* * * * * * *

Cina. Silenziosamente acquista dalla Russia il petrolio prima destinato alla Europa.

Mondo. Ci si prepari ad una recessione epocale. – Bloomberg.

Fertilizzanti. Costi sempre più elevati che mettono in perdita la produzione.

Paesi emergenti. Fame e blackout sono solo l’inizio di una depressione epocale.

Mondo. Fertilizzanti. Uno sconsolante studio dei Crop Producers.

Cina. Compra e combustibili fossili russi e li rivende nei paesi che non possono importarli.

Nuova Grande Depressione. Prezzo pagato alla guerra di Biden alla Russia. – Bloomberg.

Cina. Raccolto di grano invernale sarà il peggiore della storia.

Cina. Detassa e toglie le restrizioni all’import di grano russo. Ira degli australiani.

Fertilizzanti. Si prospetta una carestia a livello mondiale. La fame proprio ci mancava.

Mondo. Grano duro. Produzione dimezzata e costi cresciuti del 74% anno su anno.

* * * * * * *

Se sicuramente la produzione agricola è condizionata dai costi di gestione, quali tasse, personale, sementi, fertilizzanti e carburante, altrettanto sicuramente dipende dalle condizioni meteorologiche, sulle quali l’uomo ben poco può fare..

«The condition of China’s winter wheat crop could be the “worst in history”»

«Minister of Agriculture and Rural Affairs Tang Renjian said that rare heavy rainfall last year delayed the planting of about one-third of the normal wheat acreage»

* * * * * * *


Record Chinese wheat prices raise risk of pricier noodles

Beijing, June 2 (Reuters) – Chinese consumers are likely to have to pay more for food staples like noodles and bread this year, as record wheat prices in the world’s top consumer of the grain get passed on to food makers, traders and analysts said.

Wheat harvested in China in recent weeks is being sold at around 3,200 yuan ($477) per tonne, about 30% higher than a year ago and the highest level on record, despite stable demand.

Surging farming costs and tight stocks have pushed up prices that are also being supported by worries that heavy rain last year could lead to a smaller crop.  

Global wheat supplies are also tight due to the war in major exporter Ukraine.

Prices of refined flour are already up more than 10% in China since the beginning of the year, to record highs, according to data from Mysteel, a China-based consultancy, and may rise further if wheat costs keep climbing.

The farming cost for wheat in 2021/22 was around 575 yuan per tonne, up about 100 yuan from the previous year, due to rising fertiliser and seed prices, according to Mysteel data.

“Everything is so much more expensive now. With nitrogen alone, prices have jumped about 100 yuan per bag,” said a farmer surnamed Zhang in Hebei province, who only gave her family name.

She estimated the cost for winter wheat was as high as 700 yuan per tonne because the crop was planted late last fall due to heavy rain.

                         SUBSIDIES

Beijing has issued three rounds of subsidies to farmers so far this year amid concerns that high costs will impact output in the food security-obsessed country, but that money has yet to trickle down to growers who have been reluctant to sell their grain cheaply.

Traders have also been reluctant to lower prices as overall supplies remain tight following strong wheat demand last year from animal feeders.

“Corn prices were high. Old (crop) wheat supplies in the end were tight, and prices hit 3,500 yuan per tonne, so new wheat continued the rally and started off (this season) high,” said a China-based grains trader.

While feed producers and livestock farmers have been daunted by the high price of wheat this year, they remain regular wheat buyers as corn prices also remain elevated.

“If the feed sector is not buying, the supply situation will be much better,” said another grains trader.

And despite the ongoing harvest which will continue through late-June, replenishing supplies, the price of wheat is set to reach at least 3,400 yuan per tonne in the fourth quarter, when Chinese wheat demand peaks and people eat more starchy foods in the cold weather, traders and analysts said.

                         HANGING IN THERE

High wheat prices are squeezing flour mills, which are struggling with overcapacity and weak demand during the traditionally low consumption season.

“Milling plants were not actively buying at the moment. Only some are buying for the necessary need to restock,” said Lv Fengyang, analyst with the agriculture section of Mysteel.

She estimated at least 70% of millers are losing money.

Fine flour makes up about 70% of the profits for wheat processing at milling plants, while the rest comes from sales of byproducts that mainly go into animal feed.

“Food flour prices have basically stabilised at the moment,” said a trader with a major milling plant in China. “But higher wheat prices will eventually be passed on to end products.”

Pubblicato in: Banche Centrali, Devoluzione socialismo, Economia e Produzione Industriale

Mondo. La inflazione flagella i sistemi economici e sociali. Un report globale.

Giuseppe Sandro Mela.

2022-06-10.

Andrà Tutto Bene 001

Si faccia attenzione nel leggere codesto articolo. Riporta la situazione economica dal solo punto di vista della enclave liberal occidentale.

* * * * * * *

«L’inflazione record nell’area dell’euro alimenta il dibattito sulla stretta della Banca Centrale Europea nella riunione politica della prossima settimana»

«Ucraina, Canada e Kenya sono tra le banche centrali che hanno aumentato i costi di prestito per combattere l’impennata dell’inflazione»

«Nel frattempo, i funzionari cinesi stanno adottando misure per sostenere un’economia traballante e la crescita economica del Brasile nel primo trimestre si è rivelata deludente»

«L’inflazione nell’Eurozona è salita ai massimi storici»

«L’adesione all’euro è in realtà una condizione per entrare a far parte dell’Unione Europea, anche se Repubblica Ceca, Ungheria, Polonia e Svezia non sembrano interessate»

«Gli studenti delle scuole superiori e i loro genitori si chiedono sempre più spesso se un’istruzione universitaria tradizionale di quattro anni sia la scelta giusta dal punto di vista finanziario, dato che l’aumento dei costi si traduce spesso in un debito paralizzante per i prestiti agli studenti»

«L’Ucraina ha più che raddoppiato il suo tasso di interesse con un aumento di 1,500 punti base che porta il parametro di riferimento al 25%.»

«Anche Canada, Kenya e Ungheria sono tra le banche centrali che hanno aumentato i tassi questa settimana»

«Il mancato ripristino dei posti di lavoro per …. potrebbe sottrarre trilioni di dollari alla crescita economica globale»

«Con un’inflazione al 58% e in accelerazione, l’economia argentina da 500 miliardi di dollari è un’eccezione»

«Il governo venezuelano sta silenziosamente ritirando una politica pluridecennale di sovvenzioni per l’elettricità, l’acqua, il gas e i pedaggi stradali, al fine di sostenere i conti pubblici, scaricando i costi su imprese e privati da tempo abituati a servizi a basso costo»

* * * * * * *

In calce riportiamo una traduzione in lingua italiana.

* * * * * * *

«Record inflation in the euro zone is seen fueling the European Central Bank’s tightening debate at this coming week’s policy meeting»

«Ukraine, Canada and Kenya were among central banks that raised borrowing costs to combat soaring inflation»

«Meanwhile, Chinese officials are pursuing measures to shore up a shaky economy, and Brazil’s first-quarter economic growth proved disappointing»

«Euro-zone inflation accelerated to an all-time high»

«Joining the euro is actually a condition of signing up to the European Union, though the Czech Republic, Hungary, Poland and Sweden don’t seem interested»

«High schoolers and their parents are increasingly questioning whether a traditional four-year college education is the right financial decision, with rising costs often resulting in crippling student-loan debt»

«Ukraine more than doubled its interest rate with a 1,500 basis-point hike that lifts the benchmark to 25%. »

«Canada, Kenya and Hungary were also among central banks boosting rates this week»

«Failing to restore jobs for …. could lop trillions of dollars off global economic growth»

«With inflation at 58% and accelerating, Argentina’s $500 billion economy is an outlier»

«Venezuela’s government is quietly rolling back a decades-long policy of subsidizing electricity, water, gas and road tolls to shore up fiscal accounts, shifting the costs to businesses and individuals long accustomed to cheap utilities»

* * * * * * *


Charting the Global Economy: Inflation Hits a Record in Europe

(Bloomberg) — Record inflation in the euro zone is seen fueling the European Central Bank’s tightening debate at this coming week’s policy meeting, where officials are expected to end asset purchases and lay the ground for an interest-rate liftoff next month.

In the US, employment growth remained solid in May and suggested the economy is holding firm as the Federal Reserve hikes interest rates. Ukraine, Canada and Kenya were among central banks that raised borrowing costs to combat soaring inflation.

Meanwhile, Chinese officials are pursuing measures to shore up a shaky economy, and Brazil’s first-quarter economic growth proved disappointing.

Here are some of the charts that appeared on Bloomberg this week on the latest developments in the global economy:

                         Europe

Euro-zone inflation accelerated to an all-time high. The gap between the highest and lowest inflation rates among the currency bloc’s 19 members has also jumped to its widest ever. The scale ranges from Malta — where consumer prices advanced 5.6% last month, to Estonia — where inflation hit 20.1%. That’s a difference of more than 14 percentage points, more than at any time since the dawn of the euro in 1999.

Italy has one of the lowest levels of labor participation in Europe, which may prove among the trickiest challenge for the EU to fix with its 200 billion-euro Recovery Fund effort.

Joining the euro is actually a condition of signing up to the European Union, though the Czech Republic, Hungary, Poland and Sweden don’t seem interested. Meanwhile Denmark, which clinched an opt-out on acceding before the dawn of the currency, isn’t budging either. 

                         U.S.

Employers hired at a robust clip in May while wage gains held firm, suggesting the economy continues to power forward as the Fed raises interest rates at a steep pace to tame red-hot inflation.

High schoolers and their parents are increasingly questioning whether a traditional four-year college education is the right financial decision, with rising costs often resulting in crippling student-loan debt.

                         World

Ukraine more than doubled its interest rate with a 1,500 basis-point hike that lifts the benchmark to 25%. Officials are reactivating policy tools to stem inflation and shield the currency battered by the Russian invasion. Canada, Kenya and Hungary were also among central banks boosting rates this week.

Global food prices stayed near a record as Russia’s invasion of Ukraine disrupted trade, fueling hunger and worsening a cost-of-living crisis. Russia’s blockade of key Black Sea ports has exacerbated supply-chain turmoil, sending prices soaring and prompting the United Nations to warn that food shortages may spur millions of people to migrate.

                         Asia

Chinese officials have vowed to carry out a slew of government policies to stimulate growth following Premier Li Keqiang’s recent call to avoid a Covid-fueled economic contraction this quarter.

As the world climbs out of the pandemic, economists warn of a troubling data point: Failing to restore jobs for women — who have been less likely than men to return to the workforce — could lop trillions of dollars off global economic growth. The forecast is particularly bleak in developing countries like India. 

                         Emerging Markets

With inflation at 58% and accelerating, Argentina’s $500 billion economy is an outlier even in a world where prices are taking off almost everywhere. It’s not just a pandemic-era problem: while the historical statistics are suspect, Argentina hasn’t had single-digit inflation in at least a decade.

Venezuela’s government is quietly rolling back a decades-long policy of subsidizing electricity, water, gas and road tolls to shore up fiscal accounts, shifting the costs to businesses and individuals long accustomed to cheap utilities. 

Brazil’s economy grew less than expected in the first quarter in another setback to President Jair Bolsonaro as he readies his re-election bid.

* * * * * * *


Grafici dell’economia globale: L’inflazione raggiunge un record in Europa

(Bloomberg) — L’inflazione record nell’area dell’euro alimenta il dibattito sull’inasprimento della Banca Centrale Europea durante la riunione politica della prossima settimana, in cui si prevede che i funzionari pongano fine agli acquisti di asset e pongano le basi per un rialzo dei tassi di interesse il mese prossimo.

Negli Stati Uniti, la crescita dell’occupazione è rimasta solida a maggio, suggerendo che l’economia sta tenendo duro mentre la Federal Reserve aumenta i tassi di interesse. L’Ucraina, il Canada e il Kenya sono tra le banche centrali che hanno aumentato i costi di finanziamento per combattere l’impennata dell’inflazione.

Nel frattempo, i funzionari cinesi stanno adottando misure per sostenere un’economia traballante e la crescita economica del Brasile nel primo trimestre si è rivelata deludente.

Ecco alcuni dei grafici apparsi su Bloomberg questa settimana sugli ultimi sviluppi dell’economia globale:

                         Europa

L’inflazione della zona euro ha accelerato ai massimi storici. Anche il divario tra i tassi di inflazione più alti e più bassi tra i 19 membri del blocco valutario è balzato ai massimi storici. La scala va da Malta – dove i prezzi al consumo sono aumentati del 5,6% il mese scorso – all’Estonia – dove l’inflazione ha raggiunto il 20,1%. Si tratta di una differenza di oltre 14 punti percentuali, superiore a quella registrata in qualsiasi momento dagli albori dell’euro nel 1999.

L’Italia ha uno dei livelli più bassi di partecipazione al lavoro in Europa, che potrebbe rivelarsi una delle sfide più difficili da risolvere per l’UE con i 200 miliardi di euro del Fondo di ripresa.

L’adesione all’euro è in realtà una condizione per entrare a far parte dell’Unione Europea, anche se la Repubblica Ceca, l’Ungheria, la Polonia e la Svezia non sembrano interessate. Nel frattempo, anche la Danimarca, che ha ottenuto un opt-out sull’adesione prima dell’avvento della moneta, non si sta muovendo.

                         STATI UNITI.

A maggio i datori di lavoro hanno assunto a ritmo sostenuto, mentre gli aumenti salariali si sono mantenuti stabili, suggerendo che l’economia continua ad andare avanti mentre la Fed alza i tassi di interesse a ritmo sostenuto per domare l’inflazione rovente.

Gli studenti delle scuole superiori e i loro genitori si chiedono sempre più spesso se una formazione universitaria tradizionale di quattro anni sia la scelta giusta dal punto di vista finanziario, dato che i costi crescenti spesso si traducono in un debito paralizzante per i prestiti agli studenti.

                         Il mondo

L’Ucraina ha più che raddoppiato il suo tasso di interesse con un aumento di 1.500 punti base che porta il benchmark al 25%. I funzionari stanno riattivando gli strumenti di politica monetaria per arginare l’inflazione e proteggere la valuta, colpita dall’invasione russa. Anche Canada, Kenya e Ungheria sono tra le banche centrali che hanno aumentato i tassi questa settimana.

I prezzi dei prodotti alimentari a livello globale sono rimasti vicini a un record, mentre l’invasione russa dell’Ucraina ha interrotto il commercio, alimentando la fame e aggravando la crisi del costo della vita. Il blocco dei porti chiave del Mar Nero da parte della Russia ha esacerbato le turbolenze della catena di approvvigionamento, facendo impennare i prezzi e spingendo le Nazioni Unite ad avvertire che la carenza di cibo potrebbe spingere milioni di persone a migrare.

                         L’Asia

I funzionari cinesi hanno promesso di attuare una serie di politiche governative per stimolare la crescita dopo il recente appello del premier Li Keqiang a evitare una contrazione economica alimentata dal Covid in questo trimestre.

Mentre il mondo sta uscendo dalla pandemia, gli economisti mettono in guardia da un dato preoccupante: Il mancato ripristino dei posti di lavoro per le donne – che sono state meno propense degli uomini a rientrare nella forza lavoro – potrebbe sottrarre trilioni di dollari alla crescita economica globale. Le previsioni sono particolarmente negative nei Paesi in via di sviluppo come l’India.

                         Mercati emergenti

Con un’inflazione del 58% in accelerazione, l’economia argentina da 500 miliardi di dollari è un’eccezione in un mondo in cui i prezzi stanno decollando quasi ovunque. Non si tratta solo di un problema dell’era pandemica: anche se le statistiche storiche sono sospette, l’Argentina non ha avuto un’inflazione a una cifra da almeno un decennio.

Il governo venezuelano sta silenziosamente ritirando una politica pluridecennale di sovvenzioni per l’elettricità, l’acqua, il gas e i pedaggi stradali, al fine di sostenere i conti pubblici, scaricando i costi sulle imprese e sui privati, da tempo abituati a servizi di pubblica utilità a basso costo.

L’economia brasiliana è cresciuta meno del previsto nel primo trimestre, con un’altra battuta d’arresto per il presidente Jair Bolsonaro, che sta preparando la sua candidatura alla rielezione.

Pubblicato in: Economia e Produzione Industriale, Materie Prime

Canada. I prezzi del greggio pesante sono crollati.

Giuseppe Sandro Mela.

2022-06-09.

2022-06-06__ Canada 001

«I prezzi del greggio pesante canadese sono crollati a causa della guerra europea che ha sconvolto i flussi del mercato globale e reso meno prezioso il greggio delle sabbie bituminose»

«Western Canadian Select’s discount to benchmark West Texas Intermediate grew $1.70 to $20.80 a barrel in Alberta on Friday»

«Lo sconto del Western Canadian Select rispetto al West Texas Intermediate di riferimento è aumentato di 1,70 dollari a 20,80 dollari al barile in Alberta venerdì»

«Il crescente sconto ha attenuato i benefici per i produttori di sabbie bituminose come MEG Energy Corp. e Cenovus Energy Inc»

«Ben 39 milioni di barili di questi barili acidi saranno rilasciati quest’estate, proprio quando i siti delle sabbie bituminose usciranno dalla manutenzione»

«Allo stesso tempo, India e Cina stanno assorbendo il petrolio russo, mentre gran parte del resto del mondo evita di fare affari con la Russia»

«Il petrolio russo è disponibile a 40 dollari in meno rispetto al Brent»

«Il greggio delle sabbie bituminose, inviato tramite oleodotti per accedere ai mercati globali, viene venduto a uno sconto di circa 9 dollari al barile rispetto al WTI»

«Anche un eccesso di petrolio ultraleggero sta contribuendo al crollo»

«Gli acquirenti di petrolio in Europa stanno sostituendo il petrolio russo degli Urali con qualità statunitensi più leggere, che producono più nafta e condensato»

«Il condensato viene miscelato con il bitume delle sabbie bituminose per poter scorrere negli oleodotti e costituisce circa un terzo di ogni barile»

* * * * * * *

In calce riportiamo una traduzione in lingua italiana.

* * * * * * *

«Canadian heavy crude prices have collapsed as the European war upends global market flows and makes oil sands crude less valuable»

«Western Canadian Select’s discount to benchmark West Texas Intermediate grew $1.70 to $20.80 a barrel in Alberta on Friday»

«The growing discount has muted the benefits to oil sands producers such as MEG Energy Corp. and Cenovus Energy Inc»

«Soaring energy costs prompted the Biden administration to tap US strategic petroleum reserves, nearly all of which is similar in grade to oil sands crude»

«As many as 39 million barrels of these sour barrels will be released this summer, just as oil sands sites come out of maintenance»

«At the same time, India and China are soaking up Russian oil as much of the rest of the world avoids doing business with Russia»

«Russian oil is available for as much as $40 under Brent»

«oil sands crude is sent on pipeline to gain access to global markets, is selling at a discount of around $9 a barrel to WTI»

«A glut of ultra-light oil is also contributing to the collapse»

«Oil buyers in Europe are replacing Russian Urals oil with lighter U.S. grades, which yield more naphtha and condensate»

«Condensate is blended with oil sands bitumen so it can flow through pipelines and makes up about a third of each barrel»

* * * * * * *


Oil Sands Crude Prices Nosedive as Russian Bans Upend Market

– WCS discount to benchmark falls to widest in seven months

– SPR release to flood market with sours as oil sands ramp up

* * * * * * * * * *

Canadian heavy crude prices have collapsed as the European war upends global market flows and makes oil sands crude less valuable. 

Western Canadian Select’s discount to benchmark West Texas Intermediate grew $1.70 to $20.80 a barrel in Alberta on Friday, the widest in almost seven months, data compiled by Bloomberg show. 

The growing discount has muted the benefits to oil sands producers such as MEG Energy Corp. and Cenovus Energy Inc. from the surge in benchmark oil prices above $100 a barrel. Soaring energy costs prompted the Biden administration to tap US strategic petroleum reserves, nearly all of which is similar in grade to oil sands crude. As many as 39 million barrels of these sour barrels will be released this summer, just as oil sands sites come out of maintenance. 

At the same time, India and China are soaking up Russian oil as much of the rest of the world avoids doing business with Russia, closing the door to another potential market. Russian oil is available for as much as $40 under Brent, said trading sources. WCS for export out of the US Gulf Coast, where oil sands crude is sent on pipeline to gain access to global markets, is selling at a discount of around $9 a barrel to WTI, according to Link Data Services. 

A glut of ultra-light oil is also contributing to the collapse. Oil buyers in Europe are replacing Russian Urals oil with lighter U.S. grades, which yield more naphtha and condensate. Condensate is blended with oil sands bitumen so it can flow through pipelines and makes up about a third of each barrel, lowering the overall price of the Canadian heavy crude.

* * * * * * *


I prezzi del greggio delle sabbie bituminose sono in picchiata a causa dei divieti russi che mettono in crisi il mercato

– Lo sconto del WCS rispetto al benchmark scende al livello più alto in sette mesi

– Il rilascio dell’SPR inonda il mercato di sour mentre le sabbie bituminose aumentano

* * * * * * * * * *

I prezzi del greggio pesante canadese sono crollati a causa della guerra europea che ha sconvolto i flussi del mercato globale e reso meno prezioso il greggio delle sabbie bituminose.

Lo sconto del Western Canadian Select rispetto al West Texas Intermediate di riferimento è aumentato di 1,70 dollari a 20,80 dollari al barile in Alberta venerdì, il più ampio in quasi sette mesi, secondo i dati compilati da Bloomberg.

Il crescente sconto ha attenuato i benefici per i produttori di sabbie bituminose come MEG Energy Corp. e Cenovus Energy Inc. derivanti dall’impennata dei prezzi del petrolio di riferimento al di sopra dei 100 dollari al barile. L’aumento dei costi energetici ha spinto l’amministrazione Biden ad attingere alle riserve strategiche di petrolio degli Stati Uniti, quasi tutte di qualità simile al greggio delle sabbie bituminose. Ben 39 milioni di barili di questo greggio acido saranno rilasciati quest’estate, proprio quando i siti delle sabbie bituminose usciranno dalla manutenzione.

Allo stesso tempo, l’India e la Cina stanno assorbendo il petrolio russo, mentre il resto del mondo evita di fare affari con la Russia, chiudendo la porta a un altro potenziale mercato. Secondo fonti commerciali, il petrolio russo è disponibile a 40 dollari in meno rispetto al Brent. Il WCS per l’esportazione dalla Costa del Golfo degli Stati Uniti, dove il greggio delle sabbie bituminose viene inviato su oleodotti per accedere ai mercati globali, viene venduto a uno sconto di circa 9 dollari al barile rispetto al WTI, secondo Link Data Services.

Anche un eccesso di petrolio ultraleggero sta contribuendo al crollo. Gli acquirenti di petrolio in Europa stanno sostituendo il petrolio russo degli Urali con qualità statunitensi più leggere, che producono più nafta e condensato. Il condensato viene miscelato con il bitume delle sabbie bituminose per poter scorrere negli oleodotti e costituisce circa un terzo di ogni barile, abbassando il prezzo complessivo del greggio pesante canadese.