This page has been archived and commenting is disabled.
Hawaii Average Premium Gas Hits $4.708, As Nationwide Pump Prices Jump By 30 Cents In A Month
Now that the Obama approval rating has hit a plateau where it correlates only with the inverse average price of gas instead of the Russell 2000, the AAA brings some more ominous news for the man who last week launched a crusade to wipe out all oil speculators (and witches) from the face of the earth. While last week the average price at the pump was $3.81, it has since surged once again to hit a new multi year nominal high of $3.86, getting dangerously close to the all time high record price of $4.114 recorded on July 17, 2008. Incidentally premium is already above that mark,currently averaging $4.128. The number is also a nearly 10% increase from a month ago when the average price was $3.561. Seven states reported an average gas price above $4 with Hawaii once again leading the pack at a $5 rounding up $4.534. And of course, instead of focusing on the real cause of surging commodity prices, the administration's response: the creation of a "working group" to battle manipulation.
From BusinessWeek:
The Obama administration created a working group to explore whether oil and gasoline prices are being driven higher by illegal manipulation, the Justice Department said.
The working group, which includes representatives of federal agencies and state attorneys general, will check for fraud, collusion or misrepresentation at the retail and wholesale level, the department said in a statement today. The group also will examine investor practices and the role of speculators and index traders in oil futures markets.
“Rapidly rising gasoline prices are pinching the pockets of consumers across the country,” Attorney General Eric Holder said in the statement. “We will be vigilant in monitoring the oil and gas markets for any wrongdoing so that consumers can be confident they are not paying higher prices as a result of illegal activity.”
With a presidential election 19 months away, President Barack Obama faces increasing political pressure over rising gasoline prices. Crude oil futures have increased 22 percent and gasoline surged 34 percent this year as Middle East unrest reduced supply and the global economic rebound bolstered fuel demand. Both futures contracts touched the highest levels this month since the records reached in 2008.
As we predicted so long ago, after facilitating the revolutionary wave in MENA, Bernanke's policies are about to take down the telepropter himself, leaving Bernanke the podium to announce on Wednesday during the first ever fed press conference that he has now usurped the title of Chancellor Palpatine.
The president’s job approval rating, which started rising after he reached a deal on tax cuts with congressional Republicans in December, reversed course in late January as turmoil in the Middle East began driving up gasoline prices.
A Washington Post-ABC News poll released April 19 found that 47 percent of Americans approve of Obama’s job performance, down seven percentage points since January. Even with signs of improvement in economic indicators, 44 percent of Americans said they believed that the economy is deteriorating, the worst reading for the poll in two years.
But, but, that's not that strawman that Bloomberg uses on every other article which begins with the title "______ confirms economic recovery in US." We wonder how many more years have to pass before even the most obtuse realize that the only "recovery" is the non-recurring one, purchased in exchange for nearly $3 trillion in freshly printed Benjamins.
The full state breakdown can be found here.
»
- 20560 reads
- Printer-friendly version
- Send to friend
- advertisements -
So many different ways to break their economic plaything here, CDS, CDO squareds, buying mortgage shit shovelers for RICO fraud pipeline, backdoor shorting of clients, a bald MERS assumption of our notaries, lobbyist staffing of our reform writing "representatives" offices.
Anyways, its quite easy to fix.
Just repeal, undo, and unglue, ourselves, from both "Modernization" Acts created by Sen. Phil Gramm-TX, in 1999 and 2000. That's when all this new mischief started!!!
The Commodity Futures Modernization Act of 2000, and the Financial Services Modernization Act (aka Gramm-Leech-Bliley Act) of 1999. Currently Allows for obscene derivative manipulation of energy markets (Enron Loophole). Will stop the absurd CDS 600 Trillion notional...Restores the Glass-Stegall...
I will keep posting this until it sinks in.
Both Gramm Modernization's, are Acts of Financial Terrorism
+1000. The USA started this shit. Its up to US governments to stop it. Not on ANYBODY's current agenda. That's why the Ponzi and QE- infinity will go on. Nobody wants to bite the bullet, especially within the global Oligarchy.
i may be having de ja vu....but didnt we look in to this last time, about those eveil speculators....how'd that work out? ...i guess a spade cant call it a spade...
It's $5 a gallon here already now bitchez...
Everyone else can fuck off.
Thank yourself lucky.. close to $10 per gallon in the UK.. FUCKERS!!!
http://www.ft.com/cms/s/0/b835f9b2-6d0c-11e0-83fe-00144feab49a.html
'Recovery' prompts US divorce rebound
Seriously?
The Bear is going to testify in front of Congress
http://www.xtranormal.com/watch/11855451/drill-and-quit-printing-money?l...
Drive on up to Toronto where the (regular) fuel is (CDN)$1.30 a litre x 3.78 = $4.91 a gallon. Premium can run as high as a $1.50 or $5.67 a gallon.
Gas prices are on the rise nationwide, but one filling station in Florida has earned the dubious distinction of having the highest prices in the country.
Suncoast Energys, located near the Orlando International Airport, was charging $5.69 a gallon for regular gasoline on Friday. That's the highest of any gas retailer in the nation, according to price tracker gasbuddy.com.
silver darts up again... up $30 in about 13 months
dupe.. ahh fuck it, worth saying twice
silver darts up again... up $30 in about 13 months
Not eveil <sic>. Just pathetic. The world doesn't revolve around the speculators' gambling dens, coke binges, and escort services.
If they want to gamble with someone else's money, put up 100% margin. Stop fucking with the lives of people who actually WORK for a living.
No, this is British Imperialism come to U.S.
It also had earlier forms. Check the history of Monetary Imperialism (just saying). Greeks, Romans...so on and so forth.
In our era, it's British, and still is. We're just their greater fool, who took the lead on everything in the spotlight, while the strings were still held elsewhere in the bankster back rooms. Well we got to pretend we were on top since the end of WWII, when we could of actually been on top, instead starting with Truman, we started pissing on the sacrifice of every soldier in WWII's service. We went full on British route, instead of American route. Cold war? C'mon...it was British Imperialsim vs Russian Communism, we just thought it was about us and our way of life. No it was East vs. West. What was West? British Imperialism. What we run, and is destroying us.
Glass-Steagall and Hamiltonian Credit System changes all that. Cancel the fraud, Cancel the bullshit. They used bullshit psychology to get us...commodities futures and MODERNIZATION act. (outright fraud isn't modern, just the scam was new, and the easiest con of the time, everything was modern because of the turn of the century. )
Brought to you by your friendly neigborhood bankster monetarists.
American can end it, so can a bunch of other countries. They just need to default on the debt, and somehow get it past the fed/ecb/imf in a way, or size that they cannot print. Glass-Steagall would do that as ecb/imf can't guarantee the lot of derivatives and other fraud. But smaller countries defaulting on debt maybe...greater chance if multiple nations in quick order do it...but here's the funny thing when it comes to austerity....if they people won't pay (and they shouldn't) with lower services, these assholes will have to print or else the banksters lose it all. So the only sure way is with full Glass-Steagall.
We did it once, we can do it again. But that's just righting the ship, then we still have to 'chart the course' going forward. Energy, Transportation, Water, Space, Machine Tools...these are where we need to go...not printing debt and sticking our heads in the sand.
We really are that far away, and it no, it's far bigger and grander, of a tapestry than America started it. But we can end it. Glass-Steagall
How about a working group from the Dept. of Injustice to indict and convict the entire Gramm family including children and grand-children as the evil surely passes generations.
Gramm has done about as much damage to this country and its middle class as anybody in the most recent decades. Yet this stinking pile of crap goes on living like a king.
Karma is coming full circle Gramm, nothing you can do about it.....
Can't sue the govmint, I believe, but class action lawsuit against Gramm? And others who are out of office but voted for it, got rich, and are living the high at public expense? Worse, we're still paying those bastards' pensions!!
In the spirit of bipartisanship, I would love to have a public lynching:
Phil Gram and Robert Rubin.
The two people that have their fingers all over the treasonous acts that are destroying this country.
+2 nooses
Gramm is a piece of crap but oddly the Obama voters here always point the finger at everyone else. This is because they voted for the Kenyan.
Didn't Bill Clinton sign the bill into law? He and Hillary and Chelsea should be convicted too along with Robert Rubin and Larry Summers and their ilk
Actually, there were several points on the slippery slope...1886 (start of "corps as people"), 1913 (birth of Fed), 1970 (birth of GSEs), 1973 (Nixon closes gold window), 1982 (ARM loans signed into law), and 1987 (birth of CDOs) come to mind.
big fucking deal, gas and everything else is always more expensive in Hawaii it's a fucking island in the middle of the Pacific Ocean, looks like the kids are not only at the trading desk but also at the zh ed desk for this long weekend.
get on this story:
Looks to me like Ireland is going to take out the clippers and give someone a haircut real soon.
First you have Stark of ECB making comments about a restructuring:
http://www.businessweek.com/news/2011-04-23/ecb-s-stark-says-debt-restructuring-risks-triggering-crisis.html
Smaghi Op Ed in the Financial Times
http://www.todayszaman.com/newsDetail_getNewsById.action;jsessionid=209E0252B41C02E8EB5796FF710F401C?newsId=241016
and the Irish throwing the red card (their still pissed about being dissed by France in the World Cup qualifier)
http://www.independent.ie/national-news/ecbforced-run-on-our-banks-led-to-bailout-2628449.html
http://www.irishtimes.com/newspaper/frontpage/2011/0423/1224295312306.html
Ayn would like to to know, Who is Tyler Durden?
Thanks for the link, rarely do they ever just come right out and say "heads we win tails you lose" pay up.
Yeah. That would explain why CA and AK are the next most expensive...especially since they're among the largest oil/lng/gas producing states!
I didn't know that California was an island. Lousy public school education.
I had to play a video game where I was a trader who sailed a ship all over the world to learn anything about geography. Otherwise I just wouldn't know shit about what is all around the meditarranean or how close japan was to china or any of that junk.
"44 percent of Americans said they believed that the economy is deteriorating, the worst reading for the poll in two years."
Their jaws draws drop when they see the gas pump total. Immediately onto the cell phone to tell whoever how much they just paid for gas... The rush for home to watch some bs on tv and heat up some fake cheese and mac for hubby...The 44 per centers... If their plate is moved 6 inches they will starve to death.
I love the cell phone usage by gas pumps. We are a nation of twats. Perhaps a few explosions would thin the herd a bit. I am so glad I don't have to drive and share the roads with texting a--holes and little Sex In the City wannabes. I dread the day I move and have to drive again.
So you don't recognise sarcasm and you believe cell phone radiation can create an ignition source at gas stations. Wanna try for the moron trifecta?
My point was more just about all of the twats on cell phones but thanks for taking it so seriously.
Perfect example, supposedly the cream is at ZH, yet you still believe stupid urban myths like that.. But, but the sticker on the pump tells me so.. Most of the excess are superfluous twats like you who wish the real producers fueling up a work truck planning their next job to blow up.
Look at my post. I didn't exactly take the cell phone explosion thing very seriously. It is good to see you two forming a cocksucker brigade so early in the morning.
Yes, didn't get their Wheaties or something, sheesh.
A woman was in the right lane on I65 the other day during the afternoon commute reading a hard cover book resting on the steering wheel.
It's all good. I drive like I used to walk point in the jungle. Ready for anything.
Yep. Pretty sad state. Here your biggest fear has to be the animals in yellow cabs and any piece of steel with a New Jersey license plate on it.
Once upon a time looking at my phone to see the number, whilst barreling down the road I thought to myself. "Gee, I better pay closer attention to the road!" Not 20 seconds later I look over at a metallic blue Carolla and see a guy reading the farging newspaper.
Snidley, I hope you know I knew you were being sarcastic. It appears that a couple of assholes are the acting Sarcasm Police this morning. And I agree with your sentiment on the average dipshit American. I am becoming really frustrated lately with them. Why do we even care about their well being? They sure don't.
Are you an above average dipshit American?
If you used your brain you would know why gas prices are higher in California and Alaska.
California due to the special blends of "green" gasoline and higher taxes.
Alaska due to the fact that there are no refineries there. Cars run on refined oil products, not raw crude oil.
Actually, you are incorrect --- Alaska does in fact have two different refineries, and does refine ALL of the gasoline used in-state. Why, then, are prices so much higher here than elsewhere, and not lower? THAT is the $64,000 question, the answer to which every Alaskan would love to know!
Yes, Alaska has a number of refineries, excise tax is typical compared to other states, current price at the pump is the same as Westchester Co. NY...
Me thinks the problem lies in the Free Market.... why would anyone sell for a cheaper price when someone elsewhere is willing to pay more? Short of mandating that they must sell local (umm, now that smacks of Marxism) what do you propse?
they do get a fat oil check every year.. that lowers the avg unless they spend it on iPads
gas is getting shittier... my engine light is now popping up until my tank is near empty then it goes away.. and i put in the middle grade... probably watered down corn juice
"Hawaii it's a fucking island in the middle of the Pacific Ocean"
I don't know much about Hawaii. I have never been there. But on this little island you can still get away with not owning a car. The last time I drove Bush was still in office. I do appreciate updates such as this. Sometimes when you are in an insulated position you forget that the bulk of the world is not in an insulated position. Last week I passed by a gas station and noticed that regular was $4.07. That is in Manhattan but that is still high. People in Jersey and the boroughs have got to be hurting a little bit with gas prices at those levels.
I don't hear a lot of talk about gas prices since a lot of people here don't drive. I do know that the City's real economy is still struggling. A shop in our building that has been open for years just closed. Of course it seems there are people willing to start up new stores and restaurants. The disgusting display of Bleecker Street being turned into Beverly Hills continues. I wish that would reverse.
On another note I was complaining about the cops destroying the constitution with their random checks in the subway. My co-worker said she wished they could check everybody at any time. We would be safer. I didn't even know where to begin. I told her she would have enjoyed Germany in the 30s.
It is time for ZHers to realize we are surrounded by idiots and their vote counts just as much as yours, no matter how stupid and ill-informed they are. Just think, 47 percent still approve of the job O is doing. Of course much of that is racially driven. But I guess that is considered the good type of racism.
We are doomed. Enjoy it while it lasts. And I didn't even mention the potential for the Japs to kill us all. Happy Easter.
Tora, Tora, Tora...is not Bora Bora and girls in grass skirts singing Aloha, Aloha!
Watch out for sparkling flying fish coming from Fukushima way!
WestVillageIdiot,
Agree with your comments.
Law Enforcement in Florida has become increasingly arrogant and aggressive towards law-abiding citizens. Elected officials are (and have been) oblivious to the struggles of the average person. We are taxed to death...and beyond. If government could figure out a way to tax sex, we'd really be paying for the pump.
You are OK with the gas, but I wouldn't want to be where you are if food chain starts to get disrupted.
No worries, we will live off the land / sarc..
The rats alone could sustain us for months. And the pigeons are plentiful. Squab is some good eating.
humuhumunukunukuapua, its whats for dinner...
I still think fondly of many years of life on E 63rd and on 22nd street.However once retired lousy weather and excessive taxes drove me south
All this text and still not a word about geology.
I drive occasionally in and out of NYC, not enough on my own dime to lose too much cash to high gas prices HOWEVER, as you said the effect on a Manhattanite is muted. Gas prices are hurting the surrounds, Westchester County, NJ and CT etc. PA starting to hurt big too, they really, REALLY do not like $4 gas out there.
The interesting thing about Manhattan is, as you said, the "real" economy is struggling. However, this is "Wall St. Theft Ground Zero", and their ill-gotten gains are flowing into the local economy with high-end restaurants doing well again, condominium prices stable to on the up (depending on building type), rents slightly up again (although brokers would tell you they have doubled since '08, lying sacks of crap they are - ADVICE: if you are looking for a NYC apartment, don't look in the summer, and negotiate hard with the lying brokers).
It is only the big crime centers doing well though (GS, JPM, MS, C, BAC, WFC) most others are still pushing dirt uphill.
When Wall St. colapses again, basically a guarantee in the next 2 years IMO, Manhattan will become cheap for the next decade.
"Big oil must be conspiring against Obama by creating pressure on Hawaii through increasing gas prices to produce his birth certificate." - AG Holder
It won't work - the new governor is a Watermelon. 'Gas prices will necessarily rise when.....'
http://www.youtube.com/user/cedec0#p/u
FRAUD: Federal Reserve Is Selling Put Options On Treasury Bonds To Drive Down Yields
...and other titles, same author, at
http://www.youtube.com/user/cedec0#p/a/u/0/_NeKXhvw4FI
Looks like the nubie weekend editors junked me.
Ayn is still asking, Who is Tyler Durden?
The working group needs look only in Bernanke's helicopter hanger. The rotors are still spinning.
Biblical angels of death were only slightly more effective than the Benzebub's whirlybird.
The only thing missing is Linda Green's signature on the monetary largesse.
This is nothing new... Old chart, old readings, same sad story...
It'd be interesting to see who the Obama administration finds as a scapegoat "speculator" in the manipulation ... If only they would just look in the mirror...
How can they take the time to look in their mirror when they are so busy looking into your mirror?
They don't really have to find anyone, though anyone will do. Braack has commented, he has formed another prestigious group, Mission Accomplished! I have an idea Cass will tell him "who's ass to kick". Soeone has to as he's clueless while daydreaming of a day at the driving range.
Yawn. So they investigate and someone will pay a fine and then everything is back to normal and nothing will be done. We had over 40 years to solve this crap and every fucking year is the same shitz.
Bring it on. $7.00 a gallon. Who gives a fuck. I will just cancel my Ron Jeremy DVD membership
Why would you do that? Do you use that much gas while you are watching Ron Jeremy videos? On second thought, I don't want to know.
The hair!!
Bring on $9.00 so the real shit storm can start and traffic ceases to exist. What's even better, is that with the municipalities going broke.....less cops on the road. Then, I can have a real adrenaline rush as I rocket down to the shore at 140+mph on my bike.
Make a billion, pay a 10 million dollar fine. Now that is a business plan that I can believe in. Where can I invest in such shrewd business practices?
through all the investigations, no oil companies have ever been found guilty of collusion. Oil companies don't control prices. The commodities traders and market control prices. Exxon and Chevron control less than 5% of the world's oil reserves. Saudi Aramco is 10 times bigger than Exxon. Why don't we fine the Fed for making the dollar weak? Remember gas prices when the dollar was strong through most of the 1980's-1990's? Usually $1 or less per gallon.
Wake up. "The market"!? That's hilarious.
Between the political goons, oil companies, and banker-gangsters, your little 'market' is nothing more than a cartel of mercenaries, money whores and online gamblers.
I thought Dick Cheney was the root of high gas prices last time. Amazing what he can do while retired and on oxygen. What's Sleepy Joe up to?
Plugs is busy driving up the price of brain surgery. He's increasing the demand side.
+ $4.00
LOL...
$3.79 9/10 for reg here is central Fl. $4.08 9/10 for high test and diesel.
I ordered a magic carpet to ride... Infinite mpg... Avoid traffic jams...
I drove about 140 miles yesterday, mixed interstate and back roads, traffic was very light...
Use of "high test" means you are older than about 55! Hah. Reminds me of my dad. Used to run some "high test" through once in a while just to keep her running clean. Man was so inept at anything mechanical he once asked me, upon first attempting to change the oil on his car, why the oil was purple. Guy drained the manual transmission fluid. Ug.
ah the colors on that map are correct! instead of the reverse colors that the media likes to show us. LOL "red states" and "blue states" LOL
I noticed that too!
Almost a complete .99 correlation between the D states and the R states. They guy who made the gas map should have flipped the colors...
Then it would have been obvious.
Gasoline is $10 a gallon in many European countries. $5 is a great deal.
That is just due to their crazy tax structure...
I guess we need to have more wars to ensure we get the oil revenue just like Iraq and now Libya.
Libya is a European Union imperialist war
And they thank Uncle Sam for the Drones.
Soon your bread will be 15 Euros a loaf, ours will only be $10 a loaf.. Wow, I will get a great deal and you will get riots.
Food prices are definitely going up here in Manhattan. This is not 4% a year. This is not 5% a year. This is definitely higher. And still it feels like a spring is ready to shoot them skyward. I wish I had a bigger pantry. Too bad we live in a walk-in closet.
They tax the shit out of gasoline to pay for public transportation. Public transportation is not an option for 95% of the American population. Another problem are the restrictive laws and regulations on transportation services. These laws and regulations are in place so existing transportation services exist in a monopolistic form limiting competition. Typically only one Taxi company will operate in a single municipality. Only one company provides scheduled Bus service around the country. Without these restrictive rules and regulations anyone could buy a bus and provide public transportation. We can't even have Jitneys because they would be in direct competition with the monopoly Taxi service. Until all this changes in America people MUST HAVE a privately owned vehicle because of monopolized public transportation systems in America.
and you HAVE to have the proper car seat, which will only fit in a large SUV.
Just a thought. The existence of public, fast, efficient public transportation may be one of the reasons the Euro, in spite of singular components collapsing, gaining on the dollar which is in the throes of a transportation collapse as peak oil rolls over our collective scientific stupidity.
Ding, Ding, Ding....
Any potential junkers of the above, I suggest you take a trip to
http://mazamascience.com/OilExport/
and select Germany and France, then select United States. If this does not open your eyes, nothing will....
Unlike Europe, most of our urban centers are warzones and hellholes. Would you like to take a walk in downtown Detroit, Memphis, Cleveland, New Orleans or Newark? Would you like to send your wife or children down to the local grocery in those cities? Therefore, most of the decent people are forced to live in the surburbs and commute to the city to work. Fast, efficient public transportation only works in large cities.
+1 sun tzu.
Suburbia will become the ghetto when gas prices make it unlivable. Then the white flight will reverse back to the cities.
Public transit works when it's funded, yet the Liquidationists want to see it dismantled.
And similarly, cities need functioning institutions. The Liquidationist banker-gangsters calling the shots today wants them sold off for parts to pay for hookers and blow.
To combat organized labor, Big Capital has - in a systematically racist way - facilitated the movement of (White) Capital from Uncle Sam's industrial core into the splendid isolation of the suburbs. Meanwhile, the Black and Brown people left behind in the (intentionally) decaying cities were crushed by the inflow of drugs and outflow of jobs. The cities were auctioned off for parts, and its inhabitants to a private prison gulag on cooked-up drug charges by the same people who put the drugs there in the first place.
And today, to solve those problems, we hear: "LIQUIDATE EDUCATION! LIQUIDATE TRANSPORTATION!"
There's more to life, man, than a banker-gangster's addiction.
I live in Korea, I have a tiny car that holds 7-8 gallons. It costs me more than $50 to fill the damn thing up!
even the girls are small in korea...I wonder if they know what a king size bed is!
You ever noticed that the smaller the girl, the bigger the pussy? If you want a nice tight little pussy, go for a large woman. LMFAO!!!
we've heard your fat chick rationalizations before...just admit you like "big girls".
maybe he likes "puss in seven league boots"...shoots!
The film of shallow logic barely covers the sea of shame.
It's the mandate of the mass media.
March on in lockstep zombie slaves. There's no hope for you.
you live on Mount Olympus?
" And of course, instead of focusing on the real cause of surging commodity prices, the administration's response: the creation of a "working group" to battle manipulation."
I'll officially become concerned when BHO appoints a Czar to stand up to these venal speculators. And if he ever staffs a bi-partisan commission to provide recommendations, then it's "shit just got real" time at that point.
Just another dog and pony with the Elections. Nothing new here. They have no plans and if people would stop and think ( which lacks in the USA) they would do better. Sheeples are too busy for the Macy;s Sale and new season of American Idol and then complain about gas prices.
Macys is having a sale?
Sheeple it's time to buy Silver Eagles. I just saw a TV commercial saying it was a good time to buy. LMFAO!!!
Hi Ho, Silver: Some Fund Investors Could End Up Tarnished
http://online.wsj.com/article/SB1000142405274870488940457627729411382680...
It's always a good time to buy Silver Eagles! Especially when production is about to be reduced to available supplies of Silver.
http://www.silvercoinstoday.com/wp-content/images/2010/09/Domestic-Silve...
In IL - outside of Chicago and Cook County - we have been over $4.10 /gallon on regular unleaded all of April and most of March. Current low price is 4.19 at the crossroads of the transport system...
Any one that refers to the European price and says we are getting a great deal is full of it. Their price is loaded with taxes - that support their social democracies - y'know healthcare/safety nets/etc. Our taxes support corporate welfare and "pay-to-play" insiders. I particularly like paying more for food so that we can burn ethanol - while paying taxes to get this "fledgling" industry off the ground. (They have plenty of money for lobbyists and campaign donations though...
Kind of a whole new definition of OPM...
Slightly off topic, but the headline news in Germany today was that many gas stations have run out of regular gas this weekend. The reason is, the government has been pushing E10, a gas with 10% ethanol blend, but nobody wants it. The E10 is sitting in the fuel storage tanks and there is less space for conventional gas. Prices for regular gas have gone up in order to subsidize this "green" alternative, and the Germans seem utterly fed up.
A lot of people realize it is lunacy as the ethanol is less energy efficient once you factor in production costs. Of course, the likes of Monsanto were overstating the crop yield, so it seemed like a better idea than it turned out to be.
Good for the Germans, they at least have a clue about Ethanol and the pointlessness of it, not to mention the short sighted greed of corporate agriculture.
Not only that, but ethanol is more corrosive to engine parts.
this is one of the reasons the Germans don't want to put it in their Mercedes, Audi, Porsches etc.... the whole thing has been a disaster from day 1..
Interesting thing about gasoline taxes. They reduce consumption. Encourage conservation. Encourage bicycle riding which improves health. And the tax goes to paying for healthcare. The money stays in the country, while reducing the trade deficit, which keeps the currency relatively strong, which reduces the cost of the fuel.....
Ah, we don't like the govt.!!!!!
gh
No big deal. I have been watching the CNBC Informercial Financial Network and they have had many experts that said because Obama is President, it is no big deal this time unlike 2008.
ShittyNBC is a GE channel and a Propaganda Machine for the Govt for their agenda. Should shut down that channel.
"Working group" is politician speak for "I heard you, but really don't care enough to actually do anything. I will make this token gesture for you though. Now please shut up and go away, I have bankers to fellate".
I was thinking that maybe they got wind of something that will cause oil (and commodities in general) to take a dive soon, so they set themselves up to take credit for the coming drop in gas prices.
+ Bingo Blano every market indicator, chart, sentiment, overbought, oversold condition points to a drop in risk assets. It's the short trade of the year the Fed is going hawkish and Ireland is restructuring.
My bet is silver will pump to above 50 (that will be the blowoff spike) on the Ireland news so the 1980 bag holders make a few bucks and then dump on the Fed going hawkish (but that won't happen until the minutes of the meeting are released).
These people with their guns and silver stash don't rule the casino game. Like I tell people when they go to Vegas - there is a reason why there are so many lights on - the house wins. They will be able to defend their silver stash some day but who want's to live in a world like that.
css1971 - "working group", exactly, an excuse to have lunch or take expensive junkets.
$4.20 reg, $4.40 premium at my local station yesterday in the Bay Area. I've never been happier to telecommute.
... more ominous news for the man who last week launched a crusade to wipe out all oil speculators (and witches) from the face of the earth.
Obama will fail here too and lose even more credibility.
The working group, which includes representatives of federal agencies and state attorneys general, will check for fraud, collusion or misrepresentation at the retail and wholesale level, the department said in a statement today.
We'll see another "settlement" like the one in the robosigning scandal, pretty much rubber-stamping what banks are doing.
TBTF is also TBTP. Too-Big-To-Prosecute.
"Is there fraud here?" says one member of the working group, George Soros, to another, David Einhorn.
"Of course there is," Einhorn responds.
THE END
This will be a very, very interesting 6-9 months to close out 2011. At this point I wouldn't be surprised by any/all of the following:
Banks closed for one or more business days
Stock/bond/commodity markets closed for one or more business days
The Dollar Index is "modified" to make the drop in the dollar seem not so bad
New taxes or fees on gold/silver sales
Massive shortage of physical silver/gold
COMEX default
Internet down for one day or more
Cell phone service down for one day or more
A "terrorist" attack
Margin requirements raised on commodities (almost a lock to happen)
Shorting stocks/bonds is outlawed
One world currency push becomes a lot stronger
Price controls/shortages
Another war/wars declared
I also think TPTB have at least one, and possibly several, "wild cards" up their sleeve to throw everyone for a curve. Something like:
Bernanke "resigns," someone (Ron Paul?) comes in to attempt to "save the day" and raises rates 1%+ overnight, the markets completely tank, and thus the story goes on about how "The Fed was too tight, that caused (prolonged, in reality) Great Depression 2, we must QE3 asap to save the world." Remember, most idiots, including Bernanke, think the stock market crash caused the great depression. Lol. Wait, I'm still laughing....okay. But wouldn't it be crazy if Ron Paul was simply bought and paid for just like the rest of them, or TPTB basically set him up to fail, by saying "here, you run the Fed and see if you can fix inflation" and then we completely nosedive on the Dow overnight.
QE2 ends, the markets start going down, people who still have stocks or 401k's that can be cashed out run for the exits, market really tanks, markets are halted, President comes on and outlaws short selling, and also states that any investor who lost money in the markets can get their money back if they invest it in Treasuries. So that 50% drop in the Dow is basically recouped overnight, but it goes straight into the 10 year or the 30 year bond.
You have to ask yourself how TPTB will handle the terrible spot they have painted themselves into. Most here think it has to end with either massive hyperinflation or a deflationary collapse. I would tend to agree, but I am starting to disagree on the timing. It won't happen right away, maybe not for a few years or longer. There are still wars that can be stirred up, "terrorist" attacks, and all sorts of changes to the way the government "reports" numbers. The biggest question is "who will buy all the bonds after the Fed pulls out" which is easily solved. I can think of so many ways just off the top of my head. There is a new tax instituted, like a VAT, that goes straight into bonds. 401ks are seized and put into bonds, either directly or by "giving" people a premium to convert. Another/a bigger war is the conventional route, that way they can sell "war bonds" again. Plus the IMF still could come in and buy bonds, correct? Other central banks? If everyone takes turns printing the inflation might not show up right away, or all in one place, thus kicking the can a bit further down the line, and of course making the ultimate collapse that much more epic.
I would say "hedge accordingly" but who the hell knows if you can even access the profits if you're right. So, hedge accordingly and BTFD in silver and take delivery while you still can!!!!!!!
OK, enough with raibow tinged , sunny outlook. what's the bad news? what' the worse that could happen?
Ain't Peak Oil a hoot?
Everybody running around and pointing fingers, getting their panties in a knot and nobody discusses the underlying trend.
I have *never* seen a chart showing the historical US oil production on any news show. I have never seen anyone show the World or North Sea oil production. No talking head has ever mentioned Net Exports or shown a graph of the meteroic rise of Chinese and Indian demand.
When you sell ignorance, what else can you expect?
Maybe the MSM men are like their bimbos up front...they love to talk of white swans/white knights to deep their audiences in groovy mood...then swoon in the dark alleys of the studio hoping someone will make a black swan come into their lives by taking them by surprise...live on phony, cheap sensationalism and it becomes a way of life!
North Sea oil is in terminal decline even though new fields are opened up all the time, they just can't make up the losses. Mexico's fields are running down fast.
Just two examples of nations that were big exporters that are on the cusp of being importers.
Look at Chinese demand, Indian demand!
I would never predict the day of peak oil, but you gotta admit it is coming. Prices could fall heavily on more world recession, but that would be only for a very shirt time. The day will come when oil is still sky high even in the face of world recession. In fact it might trigger a world recession.
The geological world is still making oil, but at a pretty slow pace, think millions of years.
The way to explain Peak Oil here at the Hedge is as follows:
Peak Oil is when no amount of fiat dollars can increase the supply. Print all you want to stimulate CAPEX but the best you can do is to maintain the existing production level....
Edit: The Catch-22 is that the creation of fiat needed to stimulate the economy and new production is in turn also driving up the price of oil.
One bubble to rule them and in darkness bind them...
The PTB are desperately hoping that something new comes out of this fiat orgy or the blackness of a deflationary collapse will ensue...
I've been giving the debacle some thought in a ZH perspective.
I suspect Tyler doesn't understand, or like many, doesn't want to understand.
I also think that ZH gets it all intertwined with how to make near term money and they think about it strictly in the context of trading.
No one thinks about things within a big picture of doomstering. Probably ever. The French probably traded and maneuvered for competitive advantage against the other bakery down the street right up to a week or two before the Germans marched through Paris. If you had told Pompeii bakers that Vesuvius was going to erupt and kill them all in two weeks, they would have nodded and raised the price of bread.
Normalcy bias is an awesomely powerful thing.
The US has 4% of the world's population and burns 24% of global annual oil production. That ratio will never change without war, and it will likely require war started by the US to continue it. The 24% will be of a lower available production number, but 4/24 will be fought for. As it should be.
But never mind. Worry about the pump price and who must be responsible for it and how long it will be to get back to "normal". Go ahead. It's not going to matter.
Got groceries? Wal-Mart testing home delivery
http://finance.yahoo.com/news/Got-groceries-WalMart-testing-apf-11879533...
Next MCD, Wendy's , BK will deliver. No need to go anywhere. Supersize the F out of me.
My Grand Father would talk about his days of delivering groceries on a bicycle.
Obama Getting Back to Work Next Week? After Attending 6 West Coast Fundraisers? NOT YET
http://investmentwatchblog.com/obama-getting-back-to-work-next-week-afte...
Ok, then another Teleprompter speech and some golfing to sum it up. Yeap another day in the office.
Just wait till you get to 9.70 per gallon like we have here on Santoini...bitchez
"Greece has the third highest rate of VAT in Europe, second highest gas/petrol tax, third highest tax on social insurance contributions and of the worst corporate tax rates, without the quaility of living or competitiveness to match."
I guess the view makes it all good.....
yes but their hookers are cheap, and dolmates a give away!
That's the beauty of the black economy.
The hookers are cheap????
I don't think you've ever been there.....LOL
I just look but never buy. My wife is always there...c'mon they are more expensive in N Europe!
Watch gas prices plunge in the months before the elections - also they will most likely reduce Federal withholding taxes some more - not taxes, the money you pre-pay every paycheck. Nice trick that makes you feel better until April 15 [or 18th if it's a black holy day].
The sign that gas prices are really high and hurting will be when we see the end of the long parade of cars lined up for $15, $20, and up car washes, waxes and assorted beauty treatments.
Canucklehead gas just hit $5/Gal...ugh.
If you're driving the worst car ever made (Dodge Caliber) with these gas prices, it takes the pain to a whole other level.
If gas continues to go higher over in Hawaii any bet someone comes up with the Kenyan's BC?
"rapidly rising gasoline prices are pinching the pockets of consumers across the country,” Attorney General Eric Holder
How about the Bernank and banksters pinching peoples pockets? nah Seems Holder is having a tough time trying to find anyone to prosecute these days.
"under my plan, energy prices will skyrocket"
Barry Hussein Obama 2008
Will these fuel prices be enough to influence the cost to bus the Oblame union followers between campaigns/protests? nah
I think after Obama's campaign chest swells on energy sector contributions, Eric Holder will be back on his leash.
Am I the only one who revels in the rising price?
I do for two reasons.
1. I've been telling people about Peak Oil for about 5 years, so every time I see all the naysayers I just give them a big grin. That's vanity.
2. I'm quite sick of the modern life, including elephantine hominids, my idiot neighbor's kid on his 4 wheeler, morons in huge vehicles tailgating me, and various other symptoms of the oil age.
stick to olive oil in your food and eating fresh fruit without fungicides and herbicide crap.
As I pedal my roadbike past the local gas sign (today $4.79) I have my camera ready for a shot of me and the bike and the upcoming $5.00 gas price - the $100 fill-up - to send to my high carbon-footprint friends, who insist there is no credit collapse and no inflation.
There is so much less traffic that there are often no cars hitting the pressure pads at stoplights, but I can usually trigger the green light change by pumping the bike brakes from higher speed as I cross the pads.
Have biked 10 plus miles/day, 300 days/year, 3000 miles/year, for 25 years, 75000 miles, 3 times around the world, without ever leaving town.
Do most of the shopping on the bike; the van averages 2500 miles/year. Heading into the European equivalent gas price zone of $7 plus won't slow us down, so let's just bring it on.
I love high gas prices my car a 1996 Geo Metro does between 45-50 mpg depending on how you drive it , best $500 I ever spent , except that time a the Kitikat but that was for Destiny's sick mom in Iowa.
Hey, Kentucky is white on that map, and we are 89% white, so finally a correct map.
Gasoline should be cheaper in Hawaii. It's closer to the big oil producers.
Student loan shark industry – total revolving debt contracts during recession while student loan debt increases by a stunning 80 percent on an annual basis. A college degree for working at McDonald’s?
http://www.mybudget360.com/student-loan-shark-industry-total-revolving-d...
If a speculator weighs as much as a duck... he/she is a WITCH! Burn the witches...
If a crooked little banker-gangster uses government handouts to fuck with the lives of REAL people who do REAL work in order to pay for his nightly 8-Ball and lay, let's get the bonfire going . . .