This weekend was unsettling beginning with Friday’s news that OPEC couldn’t reach consensus on reducing crude oil supply. Russia dissented. In response, Saudi Arabia decided to slash prices and increase production by as many as 2 million barrels per day.
“This OPEC summit was among the worst meetings I have ever seen during the history of this organization,” Bijan Zanegneh, Iranian petroleum minister told reporters on Friday.
Oil prices fell so far, one could purchase two barrels of crude for less than the cost of a liter of Purell hand sanitizer in Manhattan.
Futures trading in the 10-year U.S. Treasury note yield dipped below 0.50 percent for the first time ever last night. It should be hella day when markets open this morning. One aspect of our being in debt is we own no stocks and therefore are insulated from daily market peaks and valleys, but still…
Speaking of hand sanitizer, Iowa Governor Kim Reynolds announced last night the first three cases of coronavirus have been diagnosed in Iowa. The individuals live in our county seat and have been quarantined at home. I’m weighing whether or not to attend meetings in town this evening because of it. National leadership on identifying the emerging risks of coronavirus, and doing something to prevent a national crisis over the pandemic, has been absent. Our local warehouse club was rationing basic food stuffs, even though few Iowans seem likely to starve if they have to stay home for a while to avoid contact with the disease.
Also Sunday night, Yonhap News Agency of South Korea reported North Korea launched three projectiles toward the East Sea. The projectiles are believed to be missiles being developed as a result of stalled talks over denuclearizing the Korean peninsula. The U.S. is not leading efforts to rid the north of nuclear weapons, but rather seeking to distract us from our own nuclear complex modernization and testing of new nuclear weapons. American leadership is absent in compliance with Article 6 of the Nuclear Non-proliferation Treaty.
Changes announced this weekend include the orchard where I worked the last seven seasons. On Friday they posted job openings for my manager and the bakery manager, who have worked there since before the current owners bought it in 2009. There have been discussions about extending the season to include other activities and produce for a couple of years. It looks like plans are coming to fruition (yes, that’s an apple joke), which means changes in staffing to accommodate new demands.
We’ll see if I’m invited back for the fall season, and if I am, whether I would work for a new manager in a new retail environment. Our personal situation has changed since 2013 when I first applied for a job there. The changes at the orchard are evidence of the shifting sand of a small business trying to survive in a competitive marketplace. If the job ceases to be fun, I won’t return.
Why all this now? It may be the beginning of all the wheels coming off the wagon of society. Whatever the causes, it is going to be a rough ride at least through this year, and maybe for a lot longer.
When I returned from my Sunday shift at the farm I walked the garden. It’s still pretty barren, garlic hasn’t begun to emerge. The plot where I sowed lettuce was dry with a few deer footprints in it. I went to bed worried about late winter drought. When I woke there was rain against the bedroom window. Welcome relief from the dry spell and a sign that all hope is not lost.