Braking Energy & Breaking China

Check out the accompanying pdf and chart collection. Executive Summary: The Biden administration’s energy policy is worrying us. The plan it’s pursuing—a.k.a. “the transition”—is to pry Americans off fossil-fuel dependence by forcing up oil and gas prices. Such a crude plan is bound to have unintended consequences that put the overall economy at risk. Notably, the past six pre-pandemic recessions coincided with rapidly rising oil prices. This is one of the reasons that last week we raised our odds of a recession scenario to 40% from 30%. … And: More investors are agreeing with us that China is uninvestible. Amid economic woes, some self-inflicted, China is losing its foreign investors. We take a look at what’s scared them away.