The first day’s take is usefully basic, balanced and pretty good, “This Time, It’s Different.”
Early this month, Valero Energy in Texas got the unwelcome news that Mexico would be cutting supplies to one of the company’s Gulf Coast refineries by up to 15 percent. Mexico’s state-owned oil enterprise is one of Valero‘s main sources of crude, but oil output from Mexican fields, including the giant Cantarell field, is drying up. Mexican sales of crude oil to the United States have plunged to their lowest level in more than a dozen years.
The same week, India’s Tata Motors announced it was expanding its plans to begin producing a new $2,500 “people’s car” called the Nano in the fall. The company hopes that by making automobiles affordable for people in India and elsewhere, it could eventually sell 1 million of them a year.
From today’s package:
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