Afternoon Coffee: Hurricane Nate Shutters Crude Production, Tesla Production Well Behind Schedule

Hoda Bogdan/Adobe Stock

Hurricane Nate slashed oil production this weekend, with 92% of crude output offline as of Sunday morning, according to CNBC. Much of the infrastructure used in oil and natural gas production, however, appears to have emerged unscathed from the storm.

Tesla Production

Tesla’s supply chain woes continued as the company said it made only 260 Model 3s during the third quarter, an average of three cars per day, the Wall Street Journal reports. While the company blamed “production bottlenecks,” reports have emerged that as recently as September major portions of the Model 3 were still being banged out by hand, according to the WSJ.

Szechuan Sauce

McDonald’s made a major demand planning miscalculation this weekend after it promoted a limited edition run of its Szechuan sauce, originally made in 1998 to promote the film Mulan, but quickly ran out of extremely limited quantities. As the BBC reports, fans of the cartoon Rick and Morty, which had featured the sauce in an episode this year, flooded the fast food chain on Saturday, and some locations required law enforcement to hold back disappointed customers.

In response, McDonald’s apologized and said it would run another promotion in Winter that would bring “a lot more” sauce.

Wholesale Inventories

And finally, an economic update: U.S. wholesale inventories rose 0.9% in August, the biggest gain in nine months, CNBC reports. The new data suggest companies are boosting stocks to meet rising domestic demand.

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