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For $50 worth of gas. nationwide on average, gas prices are down a few cents from last week s record high but that relief may only be temporary and things still could get worse. the international energy agency is warning the global oil market could face its biggest supply crisis in decades if opec doesn t increase its output. secondly, the world s battered supply chain is facing yet another threat apart from the war in ukraine. china is facing its worst covid outbreak since the early days of the pandemic and has locked down several major cities including china s silicon valley. the lockdowns have forced factories to shut down stopping production of everything from electronics like the iphone to cars from volkswagen toyota. folks business reports 34 shipping vessels are now holding off the coast compared to just seven a year ago. today, the white house said it s keeping a close eye on this ....
Are treated like a crime scene. ro roped off and disinfected. since the first case in december, the average new daily case count surged from double digits to 5,000. there are more than 65,000 active cases and counting. the virus has spread to 29 provinces and regions. the lock downs and mass testing bring life to a near halt in many places and could have global economic impacts. china province and industrial hub, along with the steel making center, locked down. china s silicon valley is only just reopening after putting 17 million residents under lock down for a week. back in shanghai, this latest lock down is forcing tesla factory to hit the brakes on production. and already caused shanghai disney land to shut its gates. this bustling city powering down to the outside world the scenes are apock liptic. ....