5 Thoughts for March 13, 2015

1. Trivial Day: Trivially speaking, today is Friday the 13th, and tomorrow is Pi Day, 3.14.15. If you didn't notice, at Safeway they have mini pies for $3.14 in this week's circular. Bought one last night, but the price's relevance somehow escaped my notice until today.
2. Energy: Surely much to the chagrin of the Gulf Coast and Alberta (and parts in-between), it seems that oil storage capacity is filling up fast in the US, with the east coast at 85% capacity. According to EIA's monthly data, last December, at oil's price trough, US production was a mere 8% below a historical high from 1970 -- what this also tells me is that, contrary to what some pundits have said, US producers are not quitting their fields in significant numbers. Combine low prices, increased production and increased storage, and we may be heading to a big price crash just before summer. Oil prices may in fact drop to $30 a barrel...plan accordingly.
3. Geopolitics: Russia is in the middle of Stagflation, with GDP already negative (and still dropping) while inflation is at 16.7% for February. The Russian Central Bank just slashed interest rates by 100 basis points, to 14%, which is an interesting move considering that inflation has not yet peaked, even according to Russia's own projections -- they may have jumped the gun. Given the expected drop in oil prices, this will be a very difficult summer for some.
4. Space: Isn't it amusing that, for decades the human race was focused on the possibility of life on other planets (Martians! Venusians!), when it turns out that we might find life on the moons of planets in our solar system?
5. Architecture: Michael Graves passed away yesterday. Maybe it's just coincidence that one of his best-known structures, the Portland Building, had been granted a reprieve just a few months ago, from being demolished in the face of $100M in repairs. The vast majority of buildings Graves is remembered for, was built in his 50s and 60s. As I get older, I begin to understand why it takes so long for most designers to mature and develop their style: Age brings the patience and discipline to focus and refine your design language that had been inside of your soul for decades. I can see my inherent design language peeking out every so often, and when I sketch I see more of it innately appearing.