As China Raises Fuel Prices For Second Time in 2011, WTI Passes $111

Tyler Durden's picture

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Bodhi's picture

I'm still amazed how little people are bitchin' about fuel prices.  I guess being cornholed so long you don't notice anymore.

long juan silver's picture

Larry Sinclair says Obamas said the same thing. What a coincidence


Larry Sinclair: Obama's "Drug and Sex party limosine"


Misean's picture

A whole lot more people are just taking food stamps to the grocery store. Couple miles a week max.

Id fight Gandhi's picture

Cnbs zombies were Peeing themselves that retailers are doing so well despite the high gas prices.

Mentaliusanything's picture

They are doing so well because the till takings are larger because the prices are higher because the Dollar has weakened. Whats not to like when things go up 8% in a year its all good at the till.

Till it isn't

Big Corked Boots's picture

Also, they're doing well because an increase of 5-10 cents in the wholesale wheat content of a box of cereal is passed on as a 50 cent retail increase (insert favorite commodity/product here). And the sheep buy it because so many have forgotten how to purchase things effectively.

thefatasswilly's picture

I am not amazed.

The older generations, those in their 30's, 40's, 50's, and so on, are too tired and too caught up with work to have the energy to bitch about things they cannot change.

The traditionally revolutionary generation, those in their 20's, has been directed into idiocy and hedonism. They are too busy playing angry birds, browsing facebook, and going clubbing, where they keep it gangsta and pop bottles, to bitch. America is lost. The next generation epitomizes failure.

Incubus's picture

Hey, I'm in my 20s.  I don't do facebook or social networking, and I don't listen to pop music, or watch television. 

But I have been stuck in an existential meltdown teens..sooo...who says being a failure is bad, anyway?  Enough with the posturing and chest-thumping, just let it fail.

When the smoke clears, I'm sure the failure generation'll be able to piece together some system that is less exploitative—at least for the first century or so, then it'll be back to same old human decay.  Jefferson was right in that governments need cleaning out every so often—if that was even really his quote.  I don't care enough to confirm it:  it's been used enough to have been attributed to him, so whatever.

thefatasswilly's picture

You are one person. You and I make two. Two . . . out of how many?

The failure generation will be absolutely shocked at what transpires. They aren't even capable of seeing outside of the democrat / republican perspective. Most don't even care about politics.

They may be able to do it, with good leadership, which I will provide. However, my hopes remain low. The damage to their brains has been done.

nkktwotwozero's picture

>The damage to their brains has been done.

I agree. Baby Boomers, they're kids, and they're kids are a write off.

Maybe it'll take a few generations more for the healing to take place.


tomster0126's picture

Your comments are pretty ignorant...Generation Y is extremely talented, and from what I've seen older Americans think they have a grasp of the Internet and web applications, but we've grown up with it.  Don't be jealous that we have a more intuitive and intimiate connection with the technology of the future.  Don't worry old timer, you can have your Social Security and we'll all be f***ed but our generation is brilliant enough to make up for your mistakes!

Nate Taggart's picture

In my experience teaching over the years, college kids today expect the same grade for less than half the effort as compared to students a decade ago. When they don't get it, they whine, call their parents, go up the chain of command, anything they can other than to actually do the required work.  And while they may be up to date on how to use the latest technology, they have missed the bus on actually understanding it.  Total lack of analytical thinking skills to boot.  Cheating is completely out of control.   There will always be good students and productive members of any group but on average I'd have to say that if the kids today are the future, we're totally fucked.  


JNM's picture

I finished an undergrad in engineering, in 2008, at one of Canada's more highly ranked establishments.  I'm part of the group you're insulting. I have no basis for comparison to decades ago.  But, there is no doubt in my mind, that you are absolutely correct.  The whining over due dates.  The whining over exam schedules.  The whining over the length of assignment.  And it was always the same ones complaining.  And it was, the masses too.

I think the reason is, less and less people are there, because they want to be there.  The alternative, is not a viable option to most.  Ie, going out and trying to live in the real world as a young 20 something.

If your still teaching, keep being a hard-ass.  Please.  10% of the students, will respect you.  The rest, don't matter.

edit: spelling.


thefatasswilly's picture

I'm 23, dimwit.

None of your precious "technology" will work without oil, idiot.

Lastly, knowing how to operate an apple product, which is marketed towards idiots, does not make you intuitive and intimate with the device.

nkktwotwozero's picture

>I'm sure the failure generation'll be able to piece together some system that is less exploitative

And he talks like a fag too!


Brawndo! It's got what Nuclear Plants CRAVE!


Incubus's picture

>The damage to their brains has been done.


I agree. Baby Boomers, they're kids, and they're kids are a write off. Maybe it'll take a few generations more for the healing to take place.

>I'm sure the failure generation'll be able to piece together some system that is less exploitative


And he talks like a fag too!

I don't feel that I need to really type anything to defend myself: I'll just quote you, and let it sink in.

Step up your game if you want to sling shit, buddy.

nkktwotwozero's picture

>The older generations, those in their 30's, 40's, 50's, and so on, are too tired and too caught up with work to have the energy to bitch about things they cannot change.

If they cant change it. What makes you think 20 year olds can?

What makes you think ANYONE actually can?

Didnt we just build ourselves into a fucking sprawl?

Isnt this what we wanted? More cars? More parking lots? Bigger houses further out?

We just made some very bad choices based on very bad assumptions.

We must come to terms with that reality.

But you're quite right about the hedonism and bullshit.

Nero's not the only one fucking around this time.


thefatasswilly's picture

20 year olds have rocked the world before. Just look at Egypt (although, to be fair, they ended up with military dictatorship).

This IS what "we" wanted. Everyone bought into the materialistic bullshit.

. . . except a few. I never wanted this. I didn't ask for it. I am paying the price for god damned spoiled white people who got to live the good life before I was even born. The entire world is paying the price.

nkktwotwozero's picture

>20 year olds have rocked the world before. Just look at Egypt

Look at the demographics. Young people are huge portions of Egyptian society.

Here it's gere-fucking-atric if you look at the "main" body of the pop.

Lived in Japan for a bit. I'll tell you right now; old people are simply impervious to change.

The level of inertia they represent isnt going away.

Unless in a catastrophic flood like event that takes out dams.

Which I'm expecting.

Seer's picture

"I'll tell you right now; old people are simply impervious to change."

Maybe in general, but really, do we really want a whole shit-load of old folks figuring things out and changing?  There was recent article on ZH in which it showed where the bulk of new jobs are going, and it showed that it was to the above 54(?) age group.

But for myself, I've taken to change (saw it coming a long time ago).  And while slow to get things in higher gear, I'm now shifting along.  I've focused on food production; my advice to the younger, wiser one out there, look to do the same (the old dumb fucks dodge this because they're physically couch potatoes [I'm not], and hide behind excuses such as saying that folks like me are doomers.

My hat's off to you young 'uns for your display of wisdom: I wish more and more of you would come and end up crowding out all the losers, the party trolls.  Keep in mind that it's not about changing the existing system, it's about creating a new one that's better (won't be hard to beat this here existing fucked up on).  You all will be, by necessity, much more grounded.  You'll learn how the bulk of the world has lived for a long time.

Matt's picture

"I see no hope for the future of our people if they are dependent on frivolous youth of today, for certainly all youth are reckless beyond words... When I was young, we were taught to be discreet and respectful of elders, but the present youth are exceedingly wise [disrespectful] and impatient of restraint" (Hesiod, 8th century BC)

nscholten's picture

What do you think the percentage is of the population not making house payments?

A little extra in gas is fine until reality comes back. 

I am thinking it will take either more time at $4 bucks this time because it came down so fast last time or closure to $5 for the shock and Ah "what the fuck..."

holdbuysell's picture

However, by looking at the S&P futures, there still seems to be money left over to buy equities.

Id fight Gandhi's picture

Decimation means to reduce by 1/10th. The dollar has/is doing much worse.

cocoablini's picture

The dollar has done worse in 2007- dxy being at 70 flat I think.
Euro, with rate hikes should be inflating in buyimg power against the dollar but instead the DXY is holdimg on at 75.
Its not an efficient basket of currencies since the euro is the largest component, but one would think a rate hike in europe would totally blow up the dollar. But no one trusts the euro, so you have total crap like Yuan to go into. Australia and Canada are running near the highs of their last implosion and everyone is short the dollar. So, as everyone is on the same side of this capsizing boat(short dollars) who is gaming the inevitable bounce up?
Expecting the dollar to collapse is going to be a rough ride for some people. Especially is everyone is on margin using it as a carry AGAIN.
Be-fucking-ware and mind the gap!
I like gold, silver and swissies, though a rebound in the dollar will flush out the gold bug inflationistas.

Misean's picture

I've got a similar concern. Just can't grok the game atm.

nkktwotwozero's picture

Pretty sure it was 72.XX-73.XX'ish in March of 2008.

Remember reading about it in the Nikkie I picked up at the train station.

Apparently there were some calls made, later (about a month later) came out.

Yen Cross's picture

What gets me more than anything, is that no one talks about the PBOC 20bps hikes. What's really going on is reserve requirement increases in the banking system. Liquidity preservation.

Misean's picture

I'm rather sure property specs in China are talking quite a bit about it.

Yen Cross's picture

They can rent out the SPEC ghost cities to cover their banking obligations!

Misean's picture

Yeah, I the Japanese...the re-re-invasion of Manchuria...

Ted Celeste's picture

What gets me more than anything is that the human being behind "Yen Cross" defines the term "useless eater".  Yet, I love my fellow man.  What to do?


Yen Cross's picture

Be the Walrus! Did you miss your mark?

Ted Celeste's picture

I know what it is behind "Yen Cross" is intelligent.  I just don't think it's legit.  Peace out, dude.


Misean's picture

Gets the spidey senses tingling, huh?

Ted Celeste's picture

I'm almost honored to have the sock puppet interact with me.

Ted Celeste's picture

9/11 was an inside job.  The fed is a private corporation, not working in your best interests. 

What are you - the home viewer - gonna do about it?

Mentaliusanything's picture

Get a beer and take a piss while scratching my ASS'

What else can I do ? Put a sock on my right hand and masturbate over spilt milk

Ted Celeste's picture

Off yourself.  One less useless eater, no?

StychoKiller's picture

Land somewhere already dammit!  Show yourself!

spekulatn's picture

Bottom line - pretty soon the entire WTI cruve will be in backwardation.


What a damn shame.

Leon mentions 125 Brent as his mark.

alien-IQ's picture

Commence /ES blast off in 5...4...3.......

Caviar Emptor's picture

Tapis crude at $128. 

chairsatan's picture

Why are futures prices so low in the out years?  Doesn't it seem obvious prices will be way north of $102 in 2018???? 

boricuadigm-shift's picture

Do some research in backwardation! That will answer your question.r

Either the other nuclear site in Japan went apenuts, Israel is having the war earlier mentioned, PEAK oil will be confirmed tomorrow by Obama or the GSEs liabilities will be added to US Liabilities which means everyone is looking for delivery like for... NOW!!


Who the fuck knows... so much shit going on...