Our Swiss watch, the Swatch, is now worth $54.43 – Swiss National Bank efforts to shrink Swiss franc are successful. Let’s just hope that’s not a bad sign.
Note in the MPI below that CVX, Chevron, took a big hit today. Checking headlines, we see there’s a big kerfuffle about an oil spill in Brazil,
“Chevron under fire over size of Brazil oil spill.”
“US energy giant Chevron(NYSE:CVX) drew fire from Brazilian officials Friday amid reports that an oil spill at an offshore well it operated off Rio de Janeiro state was much bigger than initially thought. Chevron has claimed the spill was caused by a natural oil seep rather than a leak or other problem at its well. But Rio state’s Environment Secretary Carlos Minc said the “accident must be bigger than what is being announced.” Just a guess, but we suspect some blackmail is happening.