Oil prices look to increase as OPEC and Russia seem reluctant to grow shipments to fully meet both growth and the loss of Iranian oil. While the US is now the world’s biggest producer, bottlenecks in pipelines and infrastructure are hobbling the US’s ability to expand faster.
The origins of CHEP: The Australian Government sold off as a bundle – pallets and other transportation assets left in Australia by the US Army. An entrepreneur bought the material handling equipment and got the pallets in 1946. The genius was creating the Commonwealth Handling Equipment Pool (CHEP) – turning lemons into lemonade.
Correction from last week: two people noticed the amount of sand projected to be used in fracking next year wasn’t right – 150 million lbs should be 150 million TONS. The number of truck drivers needed to deliver this is still ~7000.