from Zero Hedge
While the world has been obsessively focused on crude oil and gasoline in recent weeks, we instead alerted readers to a far more dire scenario playing out in diesel, a source of energy which is absolutely critical in keeping the “just in time” world running on time.
As a reminder, here are some of the articles we have published on the topic in recent weeks, many even before the Ukraine war:
- Diesel Is The U.S. Economy’s Inflation Canary – Feb 8
- U.S. Diesel Stocks Set To Fall Critically Low – Feb 18
- China Asks State-Owned Refiners To Halt Gasoline, Diesel Exports – Mar 10
- Global Diesel Shortage Raises Risk Of Even Greater Oil Price Spike – Mar 12
Fast-forward to today, when our warning was echoed by the heads of one of the largest commodity trading houses and the biggest independent oil trader who were speaking at the FT Commodities Global Summit in Lausanne, Switzerland on Tuesday.