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European Gasoline Hits All Time Record Of $8.632 Per Gallon

Tyler Durden's picture


And Americans are complaining at an average gas price in the mid $3 range. In Europe, gasoline has just hit an all time record of $8.632 per gallon! As reports: "tomorrow the price of gas will reach an absolute record. Petrol 95 can hit €1.624 per litre. This breaks the 2008 record of €1.61 per liter." Translated into American this means that a gallon of gas in Europe is now an unprecedented $8.632 per gallon, which will certainly result in Europe literally and metaphorically grinding to a halt.

More from

The newest price increase, with 3.3 eurocent by litre, is the consequence of the increase of the quotations of the oil products on the international markets.

The maximum price of petrol 98 will also increase tomorrow, up to 1.637 euro by litre (+2,2 eurocent by litre).

Also fuel becomes more expensive. For orders of more than 2,000 litres the consumer pays up to 0.833 euro by litre as from morning (+2,5 eurocent by litre). That is record still no: in July 2008 mazout up to 0.954 euro by litre cost at orders of at least 2,000 litres.

The maximum price of diesel today already rose to 1.443 euro by litre. The price of diesel is now near the record of 1.469 euro by litre from May 2008.

Worried about the impact of oil price on the US? Be far more worried with what happens to Europe as the continent grinds to a halt.

h/t Jonas


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Tue, 03/08/2011 - 13:12 | 1029967 nope-1004
nope-1004's picture

The current discussion about fears of inflation are largely overstated.

- Ben Benocide Bernanke


Since Ben feels that the rapid increase in the price of food staples is due to "more sophisticated diets", one can only conclude that Europe is experiencing "more sophisticated driving habits".



Tue, 03/08/2011 - 13:51 | 1030136 Don Birnam
Don Birnam's picture


Tue, 03/08/2011 - 14:51 | 1030367 Motorhead
Motorhead's picture

Bernank is such a fucking dork.

FWIW, I saw 1.31 € today for a liter of diesel in Belgium...was in the 1.20's last week.

Tue, 03/08/2011 - 15:11 | 1030442 Cojones
Cojones's picture

litre regular €1,7050  in The Netherlands  . Stop whining Belgium. 

Tue, 03/08/2011 - 15:31 | 1030498 Motorhead
Motorhead's picture

Who's whining?  Or, are you just jealous that Belgium hasn't had a government in a coon's age?

Tue, 03/08/2011 - 16:51 | 1030719 RECISION
RECISION's picture

Worried about the impact of oil price on the US? Be far more worried with what happens to Europe as the continent grinds to a halt.


The Europeans have always paid 3 times what the US pays. They haven't ground to a halt yet. Is the US grinding to a halt? Of course not. Every one just bitches and moans, then sucks it up and continues on pretty much as usual.


Tue, 03/08/2011 - 17:14 | 1030797 Sudden Debt
Sudden Debt's picture

We don't really care what they say...




ps: Veel plezier met de Karnaval he!!


Tue, 03/08/2011 - 17:50 | 1030826 Zero Govt
Zero Govt's picture

Cojones and Motorhead

i'd try to trump you both with the fuel price in Spain but i pop across to duty-free Gibralter every 10 days to top up the tank so i've no idea the price! But if it helps 200 cigarettes are about £40/€45 in Spain and £17.99/€22 in Gibralter ;))

No news of a fuel shortage here yet but the safety fascists have just lowered the motorway speed limit to 65mph to "save energy" for the nation. Yet another steaming pile of BS along with the smoking ban introduced here in January by the health fascists.

The Spanish Govt is rampant with every extremist finger-waving parasite virus infecting all Govts around the globe. This dysfunctional and abusive totalitarian behaviour should be heating Spain up to a nice revolutionary boiling point sometime 2012-14  

Wed, 03/09/2011 - 04:36 | 1032331 cahadjis
cahadjis's picture

Are we neighbours? San Pedro here ....

Wed, 03/09/2011 - 07:38 | 1032387 mr_T
mr_T's picture

I am going to have to suck it up, when I move from LA to Madrid this month. At least the public transport is good over there.. .Here one car, one person... feels like the tides are pulling back before the big wave hits.... 

Wed, 03/09/2011 - 23:33 | 1035259 Harlequin001
Harlequin001's picture

They'll just measure it in Fl.oz. Then we have deflation, yikes!!

Then they'll have to print more money...

Tue, 03/08/2011 - 14:28 | 1030282 dark pools of soros
dark pools of soros's picture

so all these riots are for more shopping at Whole Foods??

Tue, 03/08/2011 - 16:39 | 1030682 goldfish1
goldfish1's picture

McDonald's is a more sophisticated diet? Who knew.

Tue, 03/08/2011 - 13:07 | 1029968 WALLST8MY8BALL
WALLST8MY8BALL's picture

In your face Belgium!

Tue, 03/08/2011 - 13:15 | 1030005 Michael
Michael's picture

People in Amsterdam don't care. It's the happiest place in the world.

I tell you what Federal Reserve. You let me grow pot in my back yard and I won't be so mad at your criminal activity. Deal?

Tue, 03/08/2011 - 13:22 | 1030031 Greater Fool
Greater Fool's picture

I promise you the Fed does not give a shit what you grow in your back yard. On the other hand, if you could produce in bulk and find a way to get it consumed widely throughout finance, you'd see market volatility go WAY down, which they would probably like. You might also see the introduction of Twinkie futures on the CME.

Tue, 03/08/2011 - 13:34 | 1030075 Michael
Michael's picture

What I mean is, society is giving so much of our fortunes to Wall Street, lost housing, lost jobs, and having an enormous amount of pain from inflation but we are getting nothing in return for our trouble. They can't give us a better economy that costs too much money, so why don't they give us something that costs nothing like allowing us to grow our own weed? By they, I mean the government. This would be a good deal for the people. Lets negotiate this concession with them.

Tue, 03/08/2011 - 13:55 | 1030130 Michael
Michael's picture


"Watch as sovereign beings of the Divine with blood that flows and flesh that lives take control of an unlawful Maritime Admiralty Court and arrest an unlawful judge. Both the Court and the Judge are working under Oleron Law which is controlled by the Rule and Code of The Crown Templar commanded at the very top by the Knights of Malta since the destruction of the Templars in the 14th Century. Everyone must be made aware of the Magna Carta of 1215 and the English Bill of Rights of 1689! It was the Magna Carta coming out in 1215 which handed this Kingdom over from the Monarch (Moon Arch [Bridge]) to the Knights Templar as the Magna Carta was a breach of contract between the Pope (Pontifex Maximus [BRIDGE BUILDER]) ruling the World through his Temporal Power and the Monarch. Since 1215 England has always been under the Crown which isn't anything to do with the treasonous Queen of today or Monarchs ever 1215 since if the truth is known. The Queen is a member of the Crown but not its leader! This is the true power of the World working still to this day under the Pope. When the mass Knights Templar were destroyed in the 14th Century, the Knights of Malta replaced them by the power of the Pope and have controlled everything and in this case the commercial World ever since. The Commercial Courts work on the Maritime Admiralty system which is known today as Oleron Law, or the Law of the High Sea. This Sea is seen as the Sea of Souls and in the occult World this represents the power of the Moon Goddess Isis who controls the tides and why all ships are feminine named. The Oleron Law is based on VATICAN Canon Law which in these Courts can trump all other laws including Maritime if the Judge is defeated twice already. The Judge will go out of court yet again so as not to bring dishonor before trying once again to attempt to get jurisdiction on you. What you're not aware of is how he's now classed as a High Priest of Baal the God of Jupiter worshiped by the Roman Empire and its continuum today the Catholic Church. We're English people and from a true-Christian Country (not pagan-Catholics disguised as Christians in order to infiltrate, take over and destroy as you're seeing in the Church of England today gradually). We were and still are a Protestant Country and we shall soon once again find our roots and remember who gave us these freedoms we can have again and speak of right now. Long live Oliver Cromwell the greatest being of our land for 400+ years and King John of England who introduced the Magna Carta.. We must get back to following God and only the true Bible, the King James AV1611 which our enemies detest and try to undermine by the day with false bibles, hatred and disinformation to brainwash an ever increasingly dumbed down and easily led populace. Time to stand up and take our Nation of Land back. Its time to pull the plug on this treasonous fraud of water, out to Sea it shall go!

This event took place in an Unlawful commercial Court at Birkenhead, England on the 7th of March 2011. Raymond St Clair is the sovereign being of God speaking."

Good stuff starts at 4:30

British Tax Protesters Arrest Judge In Act Of “Lawful Rebellion”


Tue, 03/08/2011 - 14:46 | 1030349 Harmonious_Diss...
Harmonious_Dissonance's picture

Marijuana is bad, mmmkay?

Tue, 03/08/2011 - 16:10 | 1030594 Kobe Beef
Kobe Beef's picture

that looks more like Meth to me.

Maybe glue or Freon.

Tue, 03/08/2011 - 17:43 | 1030791 Zero Govt
Zero Govt's picture


The English are fighting back (at last!). Arresting a Judge is as good as it gets regards civil protest, i'm seriously enthused by the news, thought all the fight had been sapped from their bodies ...patently not!

Fantastic read, thanks very much :)

...down with all Big Govt and small govt parasites (judiciary, lawyers, police inc)

Tue, 03/08/2011 - 19:26 | 1031183 jdrose1985
jdrose1985's picture

This stuff is for realz.

Copyright law carries the full weight of the constitution (the only was to truly live free) and all right violations are made enforceable through tort processes in which each and every officer of the corporate UNITED STATES OF AMERICA or any of its subcorporations is held commercially liable via UCC code. All rights violations are worth at least $1 million LAWFUL currency (.999 us silver dollars) as stipulated per your Lawful notice and demand documents which were unrebutted, point for point, by your state attorney general. Acquiesence is agreement. You state your LAW and it will stand as truth because those operating in the dark can not overcome the light. You record your stated, unrebutted, self executing United States contract (LAW) at the county recorders office and start living as an issuer of credit and begin finding out you have your very own Federal Reserve and Treasury account numbers which you now control, things get very interesting.


Tue, 03/08/2011 - 16:16 | 1030611 minus dog
minus dog's picture

Legalizing pot would be an utter disaster for the government.  Their grip on power is based on everyone breaking the law as much as possible.  Why the hell would they ever legalize anything?

Tue, 03/08/2011 - 13:09 | 1029972 misterc
misterc's picture

Luckily, I bought a scooter for commuting two days ago (62 miles per gallon).

Tue, 03/08/2011 - 13:46 | 1030113 Joe Sixpack
Joe Sixpack's picture

Our VW TDI Sortwagen gets 36 mpg, and it ain't no scooter.

Tue, 03/08/2011 - 13:56 | 1030156 Ray1968
Ray1968's picture

I'd buy a scooter, but I know that within my first 10 minutes on the road, I'd get mowed over by a Cadillac Escalade or Ford Expedition.

That's just what they do here... crush scooters and motorcycles.

Tue, 03/08/2011 - 14:03 | 1030193 ColonelCooper
ColonelCooper's picture

I ride a motorcycle, and the closest calls I've ever had were with a Toyota Prius and a Ford Focus.


Tue, 03/08/2011 - 14:58 | 1030399 Max Hunter
Max Hunter's picture

I ride too..

A buddy of mine said.. Only (2) kinds of riders; ones that have been down, and ones that are going down.. LOL

Tue, 03/08/2011 - 16:53 | 1030732 ColonelCooper
ColonelCooper's picture

Went down once when I was in high school.  It wasn't my bike, and my buddy was PISSED.

Tue, 03/08/2011 - 15:57 | 1030567 WTFisThat
WTFisThat's picture

Well, to let them know I'm on a motorcycle I removed the factory mufler and put a race track exhaust and I'm driving on the high-beams.

Thu, 03/10/2011 - 05:41 | 1035957 Harlequin001
Harlequin001's picture

I'm going to buy me a horse...



Tue, 03/08/2011 - 16:36 | 1030671 destraht
destraht's picture

About four months ago my 19 year old little brother rode his motorcycle into a van that he couldn't see around.  He died instantly :(

Tue, 03/08/2011 - 16:57 | 1030742 ColonelCooper
ColonelCooper's picture

I am sorry for your loss.

Tue, 03/08/2011 - 14:57 | 1030393 Questionmark
Questionmark's picture

A suzuki tu250x motorcycle gets 90 MPG and it looks way better than a dinky scooter.

Tue, 03/08/2011 - 16:57 | 1030740 ColonelCooper
ColonelCooper's picture

My Fatboy only gets half that, but it makes up for it in style points.   ;)

Tue, 03/08/2011 - 17:45 | 1030894 1223pm
1223pm's picture

What kinds of scooters you guys are talking about? while I lived in japan. My Yamaha JOG used to do more than 200 miles per gallon.

Tue, 03/08/2011 - 18:43 | 1031066 ColonelCooper
Tue, 03/08/2011 - 13:10 | 1029973 Rahm
Rahm's picture

Well what do you know, how about vat :)

Tue, 03/08/2011 - 14:00 | 1030181 Pegasus Muse
Pegasus Muse's picture

VAT (Value Added Tax) or MwSt (Mehrwertsteuer) = 19%

Tue, 03/08/2011 - 13:19 | 1029975 Judge Judy Scheinlok
Judge Judy Scheinlok's picture

Who cares about those Euro trashers. Let them pay $50 per liter for all I care. WE (USA) invented everything petroleum. Innovators rule!

Look at that prissy little gloved hand in the photo. Eww, I can't get the petrol on my hand. What a bunch of unimaginative, whining, second rate losers. Sit back and let everyone else innovate and then claim ownership of those innovations....

Wrong, you lose. Euro trashers -->$50/liter, US -->$4.25/gallon.

Tue, 03/08/2011 - 13:29 | 1030055 BigJim
BigJim's picture

Who invented the automobile? hint: it wasn't an 'Merikan.

Tue, 03/08/2011 - 14:07 | 1030216 KickIce
KickIce's picture

Nope, but we made it affordable which in and of itself is innovation.

Tue, 03/08/2011 - 13:37 | 1030084 kaiten
kaiten's picture

Something on your ingorance.

History of petroleum

Petroleum, in one form or another, is not a recent discovery but is now an important part of politics, society, and technology. The invention of the internal combustion engine was the major influence in the rise in the importance of petroleum.

Early history

More than four thousand years ago, according to Herodotus and confirmed by Diodorus Siculus, asphalt was employed in the construction of the walls and towers of Babylon; there were oil pits near Ardericca ...

Modern history

The modern history of petroleum began in the 19th century with the refining of kerosene from crude oil. Although the Russian Dubinin brothers had purified kerosene directly from petroleum in their factory in 1823, and the process of refining kerosene from coal was discovered by Nova Scotian Abraham Pineo Gesner in 1846, it was only after Ignacy ?ukasiewicz had improved Gesner's method to develop a means of refining kerosene from the more readily available "rock oil" ("petr-oleum") seeps, in 1852, that the first rock oil mine was built in Bóbrka, near Krosno in central European Galicia (Poland/Ukraine) in 1853. ....

The world's first commercial oil well was drilled in Poland in 1853, and the second in nearby Romania in 1857. At around the same time the world's first, but small, oil refineries were opened at Jas?o, in Poland, with a larger one being opened at Ploiesti, in Romania, shortly after. Romania is the first country in the world to have its crude oil output officially recorded in international statistics ....

Here, educate yourself:



Tue, 03/08/2011 - 14:35 | 1030308 SilverFiend
SilverFiend's picture


Tue, 03/08/2011 - 15:03 | 1030419 alien-IQ
alien-IQ's picture

Had you been able to illustrate your point with pretty drawings and perhaps a pop-up book, then MAYBE you would have stood a chance at getting through to him. However, since your reply contains more than 100 words and some of them multisyllabic (the horror!) have pretty much no chance of reaching this poor buffoon.

You see, they don't hate us for our "freedom"...they hate us for our jingoistic ignorance.

Tue, 03/08/2011 - 13:48 | 1030123 andybev01
andybev01's picture

Yo, Judy,


That's a work glove.

You might recognize one if you have ever done an honest days labor in your life.

Tue, 03/08/2011 - 13:56 | 1030166 Judge Judy Scheinlok
Judge Judy Scheinlok's picture

Labor is for Gentiles.

Tue, 03/08/2011 - 14:05 | 1030207 ColonelCooper
ColonelCooper's picture

+1.  Considering it's winter time, I would say that the flannel shirt and the uninsulated, cuff rolled leather work glove point to a working man.

Tue, 03/08/2011 - 13:58 | 1030174 NotApplicable
NotApplicable's picture

I'm starting to find it amusing that you're able to get under people's skin with such obvious trolling attempts. If nothing else, it shows what, and how sensitive their reactionary buttons/tripwires are.

Kind of makes you a minesweeper, doesn't it?


Tue, 03/08/2011 - 14:07 | 1030205 Judge Judy Scheinlok
Judge Judy Scheinlok's picture

A strong woman is allowed an opinion, no?

What are you part of Hitlers Stazi-silence squad? I'll repeat my original comment:

"Who cares about those Euro trashers. Let them pay $50 per liter for all I care. WE (USA) invented everything petroleum. Innovators rule!

Look at that prissy little gloved hand in the photo. Eww, I can't get the petrol on my hand. What a bunch of unimaginative, whining, second rate losers. Sit back and let everyone else innovate and then claim ownership of those innovations....

Wrong, you lose. Euro trashers -->$50/liter, US -->$4.25/gallon."

Tue, 03/08/2011 - 14:25 | 1030273 Reptil
Reptil's picture

Sand in the vagina, Judge?

Tue, 03/08/2011 - 14:24 | 1030276 Sudden Debt
Sudden Debt's picture

A strong woman is allowed an opinion, no?


But woman with opinions like you make us want to rethink that one....

Tue, 03/08/2011 - 14:52 | 1030362 EscapeKey
EscapeKey's picture

Your "strength" comes across the same way as Ann Coulter's - as that of a gassy windbag.

Tue, 03/08/2011 - 15:06 | 1030428 alien-IQ
alien-IQ's picture

provide a strong woman and we'll welcome her, however, do not qualify.

Tue, 03/08/2011 - 14:19 | 1030262 Sudden Debt
Sudden Debt's picture

The only thing you guys really invented was the BUTPLUG!


Tue, 03/08/2011 - 14:51 | 1030370 IQ 145
IQ 145's picture

 You don't have to say,  "thank you"; we understand that you love yours.

Tue, 03/08/2011 - 14:55 | 1030385 EscapeKey
EscapeKey's picture

Heh, I would by default have thought it was invented in Amsterdam, but the interweb says no;

plugs, which can be worn by men or women, gay or straight, were invented in Greece about 350 BCE.

Wed, 03/09/2011 - 00:55 | 1032163 BlueDonkey
BlueDonkey's picture

That's BC, dont quote the grammatical engineering

Tue, 03/08/2011 - 13:11 | 1029980 kato
kato's picture

jet fuel $7.50 per gallon for private jets at some US airports. has not slowed demand at all.

Tue, 03/08/2011 - 13:34 | 1030071 tonyw
tonyw's picture

Yep, today in London the price was GBP1.35/litre x 1.62 x 3.785 = $8.28/ US gallon for gas and diesel is more expensive, it's a bit tough for those fools who bought gas guzzlers but I still see many people parked with their engines running so it can't be really expensive. On average our cars get 50% better mileage than yours, just like the Chinese and Japanese:-) If higher prices get more cars off the road then I will be pleased.

Tue, 03/08/2011 - 14:50 | 1030366 EscapeKey
EscapeKey's picture

Really? That would mean the government would need to increase taxation just about everywhere else.

Tue, 03/08/2011 - 16:51 | 1030718 goldfish1
goldfish1's picture

Only the rich deserve to drive.

Tue, 03/08/2011 - 16:46 | 1030707 goldfish1
goldfish1's picture

The price of fuel is not a concern to those owning private jets.

Tue, 03/08/2011 - 13:10 | 1029983 bugs_
bugs_'s picture

better headline is TAXES on Euro gasoline hits all time record

socialist governments do like their regressive taxes don't they? LOL

Tue, 03/08/2011 - 13:12 | 1029987 AccreditedEYE
AccreditedEYE's picture

So much for that Super CDO eh, Trichet?

Tue, 03/08/2011 - 13:23 | 1029989 Internet Tough Guy
Internet Tough Guy's picture

If they got off the damn metric system, prices would drop like a rock. WTF is a 'litre'? #winning

Tue, 03/08/2011 - 13:29 | 1030053 buzzsaw99
buzzsaw99's picture

torpedo of truth here

Tue, 03/08/2011 - 13:32 | 1030067 BigJim
BigJim's picture

a litre is 1000 cubic centimeters.

One cubic centimeter of water weighs 1 gram, incidentally. So a litre of water weighs 1kg.

Metric is a sensible system... though I still prefer inches and feet for measurements around the house.

Tue, 03/08/2011 - 13:45 | 1030107 Rusty Shorts
Rusty Shorts's picture

 - so, how many "Metric seconds" are there in a "Metric minute"?  how many Metric minutes in a Metric hour? ... Metric day, Metric month, Metric year, etc., etc. ?

Wed, 03/09/2011 - 00:30 | 1032119 samsara
samsara's picture

I'm still trying to find a Metric Crescent wrench.


Tue, 03/08/2011 - 13:48 | 1030121 Joe Sixpack
Joe Sixpack's picture

Only works with water. Metric sysetm is fine, so is English. I use both everyday. SI is more logical in some instances.

Tue, 03/08/2011 - 13:14 | 1030002 overmedicatedun...
overmedicatedundersexed's picture

Eu ask Norway to pump more you know take up the slack. sell it below market to show solidarity with the fellow socialist....

crickets chirping

Tue, 03/08/2011 - 13:20 | 1030024 EscapeKey
EscapeKey's picture

Norway passed peak years ago.

Tue, 03/08/2011 - 13:14 | 1030006 Oh regional Indian
Oh regional Indian's picture

by Oh regional Indian 
on Tue, 03/08/2011 - 12:06

Oil is the anti-christ.

Think about it.

The bringer of light.

I'm serious.



by Oh regional Indian 
on Tue, 03/08/2011 - 12:13

Seriously. What is driviing the world mad AND aflame? What is makign men do things to one another that makes no sense at all. What has driven this killing power to where it is today. What makes flight possible? Unicorns and methane farts?

What is the root of all evil right now? Money or Oil? I'd say oil.

The sudden dis-appearence of what one thing will return this whole "uncivilization" to dust and rust? One cycle of seasons without and it's all gone.

I'll say it again, for effect, and I'm not a religious nut. This is much deeper.

Oil is the anti-christ.

We just never thought of it possibly being non-human.

Worthy of consideration. 


Tue, 03/08/2011 - 13:22 | 1030025 HedgeFundLIVE
HedgeFundLIVE's picture

hah, the anti christ.  perhaps.  until "then," expecting short term highs of 122 in oil with a correction back to 90ish level. others' thoughts?:

Tue, 03/08/2011 - 13:29 | 1030049 Oh regional Indian
Oh regional Indian's picture

SHort terms highs of 160ish with a correction back to the 120ish levels. When demand disappears.

OC will leave us thirsting. That would be hell wouldn't it?



Tue, 03/08/2011 - 13:52 | 1030148 Judge Judy Scheinlok
Judge Judy Scheinlok's picture

"When demand disappears"

Do you really know the demand/supply situation here in the US? Is price a function of supply or demand right now??!! Stupid!

This is proof that Tyler has to break this website up 'regionally'.

Please for the love of hasoose, create multiple domains for all the stupid offshore idiots.

Tue, 03/08/2011 - 13:26 | 1030041 Judge Judy Scheinlok
Judge Judy Scheinlok's picture

You are seriously stupid.

"What is the root of all evil right now? Money or Oil? I'd say oil."

Energy is everything, life and money included. Until you understand that just STFU. Your toxic bath in the Ganges River every morning is showing it's toll.

Tue, 03/08/2011 - 13:33 | 1030068 Oh regional Indian
Oh regional Indian's picture

Thanks JJS, your silly and ad homenimous response means I'm on to something.

Oil. It's everywhere, in everything.



Tue, 03/08/2011 - 13:37 | 1030087 Arttrader
Arttrader's picture

Another vote for most misquoted proverb or scripture:

"Money is the root of all evil".

More accurately, it's "For the love of money is the root of all kinds of evil.  Some people, eager for money, have wandered from the faith and pierced themselves with many griefs".

It's misquoted almost as often as Jimmy Hendrix.  "Excuse me, while I kiss this guy! (the sky)"


Tue, 03/08/2011 - 13:44 | 1030109 Oh regional Indian
Oh regional Indian's picture

art, I'm trying to get beyond scripture.

All that money is fundamentally chasing oil (energy). 


Tue, 03/08/2011 - 14:37 | 1030316 Hexus
Hexus's picture

Money isn't the problem.

"I know of nothing more despicable and pathetic than a man who devotes all the hours of the waking day to the making of money for money's sake." John D. Rockefeller
Tue, 03/08/2011 - 13:48 | 1030119 pazmaker
pazmaker's picture

Arttrader... I knew the bible qoute and how it's frequently misqouted, but what is the correct Jimmy Hendrix lyrics?    I always thought it was "excuse me while I kiss the sky".  Is that wrong?

Tue, 03/08/2011 - 13:48 | 1030122 Judge Judy Scheinlok
Judge Judy Scheinlok's picture

Gold is money, no? Something for the member base of this website to seriously contemplate...

Tue, 03/08/2011 - 20:50 | 1031592 andybev01
andybev01's picture

Seriouly; you need to feed that bug up your ass every now and then or it gets really cranky.

Tue, 03/08/2011 - 13:16 | 1030013 alien-IQ
alien-IQ's picture

the good news never stops flowing.

Tue, 03/08/2011 - 13:21 | 1030028 Scottj88
Scottj88's picture

This is coming to America...

Just look at our budget....

Then look at the gold vs housing, gold vs dow, gold vs debt... it is obvious what is coming...

Tue, 03/08/2011 - 13:24 | 1030032 MacedonianGlory
MacedonianGlory's picture

In Athens the minimum is 1.68 euros per litre

Tue, 03/08/2011 - 13:32 | 1030062 Internet Tough Guy
Internet Tough Guy's picture

Can they substitute something cheaper for throwing at police?

Tue, 03/08/2011 - 20:51 | 1031598 andybev01
andybev01's picture

Ethanol?, wait.

Tue, 03/08/2011 - 13:28 | 1030051 Ayn Rand
Ayn Rand's picture

Higher sales taxes.....State Gov's are rejoicing............

Tue, 03/08/2011 - 13:34 | 1030069 AG BCN
AG BCN's picture

Still €1.31 here in Barcelona.  

Tue, 03/08/2011 - 13:35 | 1030081 tecno242
tecno242's picture

Wadell and Reed has cornered the oil market. 

Tue, 03/08/2011 - 20:53 | 1031601 andybev01
andybev01's picture

+ $4.79 (here in Nor Cal)

Tue, 03/08/2011 - 13:49 | 1030083 -273
-273's picture

It wont grind to a halt, it just makes us all a bit poorer. Most people if they have a job or jobs still have disposable income. Will just come out of that. Most people drive small fuel efficient cars too which get much better milleage. My KTM 690 gets about 65mpg, so 65 miles for about 6 euro aint so bad.

Will only grind to a halt when the oil stops arriving.

Tue, 03/08/2011 - 13:37 | 1030086 velobabe
velobabe's picture

bike, pedal power. or walk† i swear take away the credit cards from americans, problem solved.

Tue, 03/08/2011 - 13:38 | 1030090 RobotTrader
RobotTrader's picture

Hanging by a thread:


Tue, 03/08/2011 - 13:38 | 1030092 glenlloyd
glenlloyd's picture

That picture shows someone pumping diesel into a Mk2 VW Golf.

In Europe diesel is still cheaper than petrol, even if it is substantially more expensive than the US. In the US diesel is almost always the highest priced fuel, even slightly more than premium most of the time.

In the end it's the cost per mile for diesel that makes it work


Tue, 03/08/2011 - 13:40 | 1030095 JW n FL
JW n FL's picture

sounds like they need an arms deal with saudi arabia like we did...

Tue, 03/08/2011 - 13:42 | 1030106 JW n FL
JW n FL's picture

we have $3 dollars a gallon..

they have $8 dollars a gallon..

wait!! its all the taxes that make up the 50% difference right? my bad.. sorry all!

Thu, 03/10/2011 - 11:22 | 1036474 ft65
ft65's picture

Quoting JW n FL / J.E.W.

we have $3 dollars a gallon.. they have $8 dollars a gallon..

wait!! its all the taxes that make up the 50% difference right? my bad.. sorry all!


Math is not your strong point $8 / $5 = 1.6 times the price (or 160%!)

Yep, here in the UK we have tax charged on top of duty - neat trick!

But then 200 miles is long distance to us in our >30 miles per gallon cars (our gallons are bigger too!)

Tue, 03/08/2011 - 13:41 | 1030103 dick cheneys ghost
dick cheneys ghost's picture

Bill Gross says "no way out of debt trap"......

Tue, 03/08/2011 - 14:02 | 1030185 NotApplicable
NotApplicable's picture

Given his help in constructing it, he should know.

Tue, 03/08/2011 - 13:43 | 1030104 Josh Randall
Josh Randall's picture

People will have go APE in the US when it hits $ 5 a guarantee, when it gets North of $ 6, you will see 30% admitted unemployment -- no use paying $120 to fill up your car if you just make $150 a day waiting tables or being a Sandwich Artist. Sad times ahead

Tue, 03/08/2011 - 13:49 | 1030133 pazmaker
pazmaker's picture

Try around $80 day being a sandwich artist! If they paid $150.00 a day to be  sandwich artist, Subway would have 500 applicants for 1 job!

Tue, 03/08/2011 - 13:56 | 1030165 Idiot Savant
Idiot Savant's picture

I wonder how expensive fuel will get before we see widespread theft, ala copper. It's not hard to syphon fuel from a tank.

Tue, 03/08/2011 - 14:13 | 1030239 impending doom
impending doom's picture

It is on newer cars. Just use an icepick to punch a drain into the fuel tank...

Tue, 03/08/2011 - 17:33 | 1030857 Citxmech
Citxmech's picture

I'm contemplating putting some armor under my truck's tank for just that reason...

Tue, 03/08/2011 - 13:47 | 1030116 THE DORK OF CORK
THE DORK OF CORK's picture

Getting close to 1.50 in Ireland.

Horses are becoming a option.

Tue, 03/08/2011 - 14:00 | 1030178 Don Birnam
Don Birnam's picture

How much do they get in the Old Sod for 1 litre of Jameson ?

Tue, 03/08/2011 - 14:08 | 1030214 THE DORK OF CORK
THE DORK OF CORK's picture

You might get a 700ml bottle for less then 20 euro , not too sure regarding the litre bottle.

Paddy is cheaper but is a acquired taste............... and as other uses.

Tue, 03/08/2011 - 14:34 | 1030298 Don Birnam
Don Birnam's picture

Roughly 20 euro...and we in America pay both federal and state excise taxes, yet a 750 ml ( not the chi-chi 12-Years Aged [ in the wood ] Reserve ) can be had for $ 20. Never sampled Paddy, but the interest ( i.e, "acquired taste" and other uses [ substitute Zippo fuel ? ] ) is now piqued. 

Tue, 03/08/2011 - 14:42 | 1030333 THE DORK OF CORK
THE DORK OF CORK's picture

Paddy is a paint stripper , Powers is a good compromise  - it must be a year since I bought the Jameson 12 year , can't quite remember the taste - but I am more of a volume man rather then taste so its probably a waste on me.

However for the cost average Irish whiskey is far superior to the equilivent scotch - only in the high end market has Scotch a edge and variety.

A good but cheap full malt is  "As you get it" - A Islay and/ or Highland variety - but beware it is 100 prof and 60% by volume alcohol and I can only ever pick it up in obscure Scottish towns.....................................

Tue, 03/08/2011 - 15:24 | 1030486 Don Birnam
Don Birnam's picture

Interesting, how this tangent discussing Irish whiskey and single-malt scotch has found a home within the broader discourse of gasoline. I've been doing some interior work on the house, and could use a multi-application paint stripper, for both removal of old paint, and periodic personal refreshment. In any case, as far as finish is concerned ( also more a volume-man myself ), the 12-Year is really not worth the premium; Jameson, neat, keep the decade, is very smooth. I agree that high-end ( single-malt ) has an edge, but for the prices some pay, it had better. 

Tue, 03/08/2011 - 13:47 | 1030117 alangreedspank
alangreedspank's picture


And watch all the Euro socialist tards blaming the oil companies and not their predatory welfare state.


Tue, 03/08/2011 - 13:53 | 1030140 Idiot Savant
Idiot Savant's picture

I hate to be the stereotypical ignorant American, but why is petrol so much more expensive in Europe?

Tue, 03/08/2011 - 13:54 | 1030159 pazmaker
pazmaker's picture


Tue, 03/08/2011 - 13:58 | 1030175 Idiot Savant
Idiot Savant's picture

Seriously, just taxes??

Tue, 03/08/2011 - 14:03 | 1030190 pazmaker
pazmaker's picture

I think it is different by country in the EU but basically yes.  For Example in the Netherlands  around 68%-69% of the per liter petrol price is taxes

Tue, 03/08/2011 - 14:35 | 1030311 Reptil
Reptil's picture

Yup. It's the oil of the social democrat machine. That, and tabacco. Pays the bills, so the ladies en gentlemen civil servants can step out of their The Hague ivory towers once in a while to embark on a merry cruise, to one of the former colonies, to name an option..

It's also a buffer, we're used to being fleeced, grown attached to the daily ritual, so some Bernank funnymoney is nothing. Have you been experienced? (misquote of J. Hendrix)

Race to the bottom, bitchez!


Tue, 03/08/2011 - 17:04 | 1030774 Buckaroo Banzai
Buckaroo Banzai's picture

The giant european bureaucracies have to be funded somehow. Whopping big gas taxes, 20% VAT, 40% income tax, etc. etc.

21st century serfdom.

Of course, we're serfs too, but its a matter of degree.

Tue, 03/08/2011 - 17:40 | 1030885 Citxmech
Citxmech's picture

High gas taxes, while a drain in one sense, also had the long-term benefit of encouraging Europe to develop/maintain a more efficient and localized society/economy without reliance on long-distance commuting.  Unfortunatley, the same progam won't work well in US with our entrenched suburban sprawl, delapidated rail system, and greater distances between farms and cities.  If we had gotten with the program in the 70s - by whatever means, we'd be much better prepared for what's coming down the pike than blindsided like we have been now. 

Tue, 03/08/2011 - 18:29 | 1031021 Flakmeister
Flakmeister's picture

  A study from a couple of years ago showed that slowly increasing the gas tax while cutting FICA would have been revenue neutral and not regressive. Another fucking triumph of American policy....

Tue, 03/08/2011 - 18:36 | 1031051 malek
malek's picture

In Germany, if the gas price is 1.65 Euro per liter, then 1.04 Euro of that are taxes (mainly gasoline tax and VAT).

Tue, 03/08/2011 - 13:52 | 1030142 disabledvet
disabledvet's picture

So does that mean Italian super-cars are finally being put into the used car bin?  i'm feeling RACY.

Tue, 03/08/2011 - 14:13 | 1030237 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Europe responds to price spikes much better than the US.  It has something to do with the tax adding a little buffer area, because Europeans are not as reliant on driving as Americans.  This prepares them. 

The price spike will hurt European GDP, but it will pale in comparison to the hit the US GDP takes.

Tue, 03/08/2011 - 14:39 | 1030307 Arkadaba
Arkadaba's picture

Yes better public transportation and in the majority of places you can shop locally.

Recently spent a few days at a relative's surburbanish house sans car - I looked for a shop where I could pick up some milk - closest was over 1.5 miles away.

Tue, 03/08/2011 - 16:24 | 1030624 Flakmeister
Flakmeister's picture

  I was waiting for someone to say something sensical....

Tue, 03/08/2011 - 14:23 | 1030255 THE DORK OF CORK
THE DORK OF CORK's picture

Monetary debasement becomes the only option when it is politically impossible to raise taxes on fuel.

The US deficit would become significantly smaller if petrol and diesel prices were at European levels.

I even hear you heat your houses with oil !!!!!!!!!! - such waste when it has so many better uses and can be replaced easily by other forms of heat generation.

Under a Gold standard it would become mandatory as you would soon lose all your gold given the present state of US energy policey.

Its time to wake up kids - you may just  succeed in burning the rest of the planet and collect the remaining charcoal but there may be some more then token resistance.

Just saying.

Tue, 03/08/2011 - 14:54 | 1030388 PulauHantu29
PulauHantu29's picture

We are very spoiled.

Tue, 03/08/2011 - 15:18 | 1030467 CrashisOptimistic
CrashisOptimistic's picture

All things in the Middle East are about oil, and today a HUGE dump of info occurred:

Buried in that article is this:

Goldman Sachs raised its outlook for both Brent and WTI crude by $4.50 a barrel on estimates that spare capacity in OPEC has dropped below 2 million barrels a day, according to a report dated March 7.

What!  What?  KSA alone is supposed to have 4 mbpd of spare capacity.  The Shit Has Hit The Fan.

Tue, 03/08/2011 - 17:41 | 1030891 Citxmech
Citxmech's picture

If they even have that.  Matt Simmons was screaming this shit from the rooftops years ago.  No surprise here. 

Tue, 03/08/2011 - 15:20 | 1030474 æther
æther's picture

It's not really that bad here.  Gas going from $6-$8 dollars (25% increase) a gallon is frustrating, but not like going from $2-$4 (100% increase).  Besides, Europeans are already used to high gas prices.  Logically, they drive small cars, carpool, and take public transportation. 

Diesel in Northern France is 1.30 euro/L.  I've said that if it hits 1.50, I'm biking to work. 

My health and wallet would be better if I did, but I'm pretty lazy...

Tue, 03/08/2011 - 16:44 | 1030699 just_looking
just_looking's picture

It seems that the ratio of ero gas / us gas has gone down.  My memory (which is not a great source) recalls that about 10 -15 yrs ago US gas was around 1.50/gal while euro gas was about the same / liter, making Euro gas ~4x US gas.  You numbers of $8 euro to $4 US shows that they difference has tightened quite a bit.

Tue, 03/08/2011 - 15:26 | 1030490 epwpixieq-1
epwpixieq-1's picture

No one asks how efficient should be the Europien transportation system in order to be able to support prices, generally 2x to 3x that of US. And now think about the efficiency of the US transportation system ... not a good picture. At least in Europe some of the debt they have accumulated have been used wisely.

Tue, 03/08/2011 - 15:39 | 1030512 cxl9
cxl9's picture

I'll happily accept $8/gal gasoline in the United States if it puts the airlines out of business.

Tue, 03/08/2011 - 15:43 | 1030521 irishlink
irishlink's picture

The Irish Haulage industry has given the still wet behind the ears new government an ultimatum; Reduce the tax on diesel to our industry or we will drind the country to a halt.....................The fun begins. 

Tue, 03/08/2011 - 16:54 | 1030731 raios_parta
raios_parta's picture

Same thing in Portugal. In 2008 they actually stopped the country and got what they wanted. It will be fun to watch.

Tue, 03/08/2011 - 15:46 | 1030538 Lord Koos
Lord Koos's picture

Europe is in a much better situation that the US for weathering the rising cost of fuel... most people own small high-mileage cars, and many people don't own cars at all. Europe has always had better and more efficient public transportation than the USA, so for a lot of folks the main effect will be higher food prices but the price of taking a train or bus isn't going to change much.  

Here in the USA of course, governers are refusing to build high-speed rail systems... 

Tue, 03/08/2011 - 16:05 | 1030589 RmcAZ
RmcAZ's picture

High speed trains would be wonderful here... but how will they be paid for?

Tue, 03/08/2011 - 16:24 | 1030625 THE DORK OF CORK
THE DORK OF CORK's picture

Central bank base money ? , if it is good enough to bail out bankers why can it not create utilities and Industry.

But before that there is a lot of very unsexy but effective energy conservation measures. 

Tue, 03/08/2011 - 18:39 | 1031065 malek
malek's picture

Ahem... calling high speed trains energy efficient is a bit of a joke in itself.

Tue, 03/08/2011 - 16:38 | 1030675 London Banker
London Banker's picture

Europe will NOT "grind to a halt" just because petrol excees $8 per gallon.  About 70 percent of that is taxes, so if the governments (and there are several in Europe, each sovereign) choose to do so, they can reduce taxes on fuel to compensate for a supply price shock.

More important by far, Europe is much less dependent on petrol than the USA.  We have buses, trains, trams, bicycles and other means of transport.  We live in villages and cities with convenient shopping and transport links, even bike lanes.  I can live quite happily without a car and my life will hardly change at all.

As a proportion of GDP, energy costs in Europe are far below those in the USA. 

It is the USA that might "grind to a halt" when workers can no longer afford the commute to the ex-burbs, or heat and cool their McMansions.  Europe, with its cities and villages linked by trains, will carry on.

Tue, 03/08/2011 - 16:53 | 1030725 raios_parta
raios_parta's picture

Governments in Europe will never reduce taxes on petrol, no matter what. Social Democracy is a very expensive business and if anything taxes will go up in order to satisfy governments appetites, like they have here in Ireland.

Tue, 03/08/2011 - 17:03 | 1030773 Jessica6
Jessica6's picture

What about truckers? From the stats I've read a larger proportion of goods are shipped by truck vs rail than even in the US.

Everyone seems to focus on commuting and forget about shipping. I can vaguely recall some trucker protests in the summer of '08 and would very very surprised not to see those again soon.

Tue, 03/08/2011 - 16:59 | 1030751 Buckaroo Banzai
Buckaroo Banzai's picture

This really isn't a big deal. Europe's outstanding train and bus infrastructure makes it possible to live very comfortably without an automobile. Cars are not a necessity, they are a luxury. Furthermore, europeans drive much smaller cars-- and many of them are diesel-- and getting 35 mpg is pretty normal over there for a typical driver.

Rich people drive the bigger cars, and they don't care what the price of gas or diesel is.

On the other hand, if the price of gas got to $8 in the US, we would be pretty well fooked as you can't get anywhere without a car here.

Tue, 03/08/2011 - 17:40 | 1030805 Xkwisetly Paneful
Xkwisetly Paneful's picture

Modern Eurorash liberal socialism is not your daddy's eurotrash liberal socialism.

US are the oppressive fascists while Europe taxes crap as it comes out of one's ass.


But it doesn't stunt the entire human race diverting so much capital to inefficient government-afterall look at all the innovation coming fr Europe. There is tons of stuff that is an indispensable part of the world's daily life. Having a hard time thinking of anything beyond French wine but just ask any Euro they are the super evolved intellects who have socially engineered the modern utopian society. Just have to depend on everywhere else to actually advance the human race but otherwise it is obvious.

 Look at all the personal freedom, have to be royalty to own real estate or drive a car but that is immaterial.


They are not really graphic evidence that no matter how high taxes are any modern government is sure to outspend it. That the current big government US path ends with  even more inequity in opportunity.

 Give me some more lessons on torture Pierre while the current Euro statists are oppressive and torturous by nature.

IT is all just a fantasy afterall every US based neo marxist is insistent upon following the same path.


I shouldn't have to give basic physics lessons to a bunch of wannabee intellectuals either,

but sardine sized car + serious accident is many times more likely catastrophic but they are so advanced with so many sardine cars on the road, risking life and limb for mother earth and oppresive government. Right less SUVS and big cars on the roads but more trucks, busses and poles, trees and other natural calamities are a push at best on roads significantly older than in the US. Right again mandatory ABS in commercial vehicles helps but hardly changes the overall equation.

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