From a client:
"Bird flu continues to plague South Dakota turkey farmers. Flocks that we euthanized this spring then restocked after the waiting period and had to euthanize the next flock also because of the fall migration pattern that is bringing down the flu. Personally, we have hundreds of dead snow geese laying around my yard from the flu. This spring we only saw some dead pelicans."
European Union diplomats expected a deal to be done Friday night, but instead, suspended discussion on capping Russian crude oil prices. Talks are expected to resume Monday.
Poland and the three Baltic nations are outraged at a proposal to cap Russian oil prices at $65 per barrel, as Russia is selling crude lower than that now. Poland is demanding additional sanctions, a review mechanism, and a price below the market level. The EU would bar access to insurance and services for any ship transporting Russian oil. The cap sanctions allow access to those services, but only if the crude is purchased below the cap. The EU countries are being forced to choose between two priorities that are almost impossible to resolve: choke-off revenue to Russia and avoid painful spikes in the oil price. Surprise, surprise, surprise…