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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.
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But don't worry, no one uses gas, so we won't see it in the inflation numbers. What a joke, inflation is running rampant worldwide.
http://silverliberationarmy.blogspot.com/
I can see you need some reëducation, comrade. Ben Bernanke says there is no inflation, and therefore there is no inflation. He has studied economics extensively and written many fascinating papers and there is no way he could be mistaken about such a thing, and of course he has no reason to lie. Yes, one year ago gasoline was $2.87/gal and today it is $4.39 but one year ago your house was worth $285,000 and today it is worth $229,000 so as you can see everyone is actually better off because housing is becoming less expensive. And of course do not forget that the iPads you buy everyday are getting cheaper and cheaper and all the time loaded with new and useful functions that they did not have before which makes them even more valuable by our calculations. I hope this clears up any misunderstanding you might have had.
No comrade Ben says it is transitory which means that it won't last very long because Ben will start withdrawing liquidity from the system. Transitory, the same the ECB bakers say. Transitory. Listen to what they say, transitory, comrade.
Transitory...transitional...aka time period of unknown duration marked by extreme inflation, consumer panic, and governmental collapse. You said it brother, they're not going to stop holding the truth from us until the whole system blows.
www.forecastfortomorrow.com
I see some Blue states lovin that Hope and Change.
Any general aviation pilots out there? What's 100LL going for now? Back in the day, I would ride my motorcycle out to the grass runway airfield near my house and fill it up for $6.00. No highway taxes, and of course it gave the bike a little extra kick...
At Boeing Field here in Seattle 100LL is going for $6-7.00/gallon depending on the vendor...
hang the lobbyists and fire everyone in Congress. Why is no one talking about term limits. Congress has made this a living by looting and will never stop period. See the revolving door?
Term limits might help. But I want to see 20 years-to-life hard time prison terms for all the crooks in Congress who aided and abetted the greatest financial crimes in American history.
Term limit for them will come the day the Dollar dies. The only thing holding this union of states together is the US Dollars flowing from Washington D.C. to State politicians. When those US Dollars are worthless the entire union will fly apart. Some states are already preparing for this coming event by making Gold and Silver legal tender in their states. One group of states have a government in waiting ready to step in and take control including a currency backed by Gold and Silver.
"hang the lobbyists and fire everyone in Congress."
No
fire the lobbyists and hang everyone in Congress.
FTFY
As You may have noticed, this February 6th oil price graph for 2011-2012 still holds true ( Brent, 5 USD lower than actual prices as USD has devaluated):
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&st=0&sk=t&sd=a#p30486
I do not believe in devaluation of USD on bigger scale. If the USA tries it, the oil supply will be proportionally reduced. The exporters will retaliate.
I do not know the exact relation between Brent prices and gasoline, but from the graph, it seems gasoline will hit 4 USD in July latest, and 5 USD in October, 6 USD in q1 2012.
Which means a recession in q1 2012 in the USA, and stock market crash by April 2012:
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&st=0&sk=t&sd=a#p30485
While its true that DX looks like it wants a 40 print, current 74, the oil exporters may or may not go along. Particularly since most of these countries are having to redirect funds into keeping their people from rioting.
Refusal to honor the dollar on the other hand would make their holdings worth much, much less.
What would help the dollar is political. We must recognize scientific thought and discovery concerning resources. This blog is a testimony to the dire state of knowledge that postulates the fed as causing a lack of natural resources and insufficient crops.
+ 4.78
OBAMA PROMISES TO RAISE YOUR ENERGY BILLS >> wants Government to begin an agenda..
He also admits when government fines companies they pass it on to consumers.
http://www.youtube.com/watch?v=bueCxeXZAUU&feature=player_embedded
Just filled a tank on Thursday, $102 for 30 gallons of premium gas. Never blinked an eye. I'll get 2-3 weeks out of that tank by driving other gas guzzler in my fleet. The law of averages always prevail. Shamefully, our leadership strengths aren't in math. Narciss(ism) is Obama's only leadership skill.
Y'know - you guys who bring up the repugs vs. the demo(lition)s have really got to get with the program. Neither party gives a rat's ass about anything but power and money. Your individual liberty means nothing to the rethugs and the dems only care about the downtrodden to the extent that they can say "look at what good people we are - we care". When the cameras go off - they go back to butchering the steers.
The only thing that either group cares about is taking care of themselves - their families and their friends. This would not be so bad - except it is all at our expense and they seem to have no limits.
Red or Blue - It's not what they say - it is what they do that matters. Apply this litmus test to your various Reps and Senators and see where you come out.
Please - get over your naivete. Just keep voting them out - primaries/generals - no incumbancy.
Ohio should be red...it's $3.98 to 3.99/gal here before cash discounts if offered.
Be patient....I'm just north of Toledo and the cash price is 3.96-4.00 now.
Blaming Obama for the mess is political substitution for thought. Cato/Koch loving clones.
Does anyone really believe Social Security is a problem? it is only a problem if we pay back what was "borrowed" from the payees. Even that is not a problem that can't be cured by raising the ceiling on maxium contributions.
The solution to global warming and oil, and crops has been known for some time. The misdirection to Bernank, birth certificates, and skin color is not germane. Bitchezz. That is true thought?
It isn't 'Global Warming' anymore. It's 'Global Climate Disruption'.
This way those pesky falling temps can be ignored. This is fun!!
Oldmanagain "Blaming Obama for the mess is political substitution for thought"
Obama is not part of ANY solution so he is then part of the [every] problem.
And then you say..."The solution to global warming and oil, and crops has been known for some time. The misdirection to Bernank, birth certificates, and skin color is not germane. Bitchezz. That is true thought?"
Really? Let's think about that. Global warming is a farce, unless you can prove otherwise and I have yet to see any conclusive evidence that it is factual. As for the claims of misdirection, let's just say this; he [Obummer] couldn't run a Dairy Queen but he gets elected as president? Are you effin kidding me, only because there are more dip shits than their are law abiding, tax paying, grounded people living in the U.S. Libtardia is comprised of parasites that require a host to live, a food source so to speak. If you leave dogs alone, after a long enough period of time they will kill each other. When no one is there to feed them, they turn on eachother. What will libtardia do if their host is gone? I think you know the answer.
The author of this story, and the vast majority of people completely underestimate the manipulation of oil. Just like with Enron and electricity.
Once people quit trying to poke the president in the eye and instead actually assess the behavior of investment banks and speculators the reality is such that even Stevie Wonder can see the bullshit behind oil.
70-80% of the price of crude is speculation, and blatant manipulation. I've seen it, witnessed it first hand. The mantra is the business is dirty but the money is always clean.
This author is a fucking idiot and spreading pure propaganda and false diversions.
Commodities are in the biggest bubble in three generations --- and it will go boom regardless of paper printing and ass grabbing by central banks and fraud street.
The president of the US should have let big banks fail. This all stems back to failure rewarded, and now speculation is only emboldened, personified in oil.
GET A CLUE, FOLKS! You're being misled and ripped off by the same fags behind the fraud.
I strongly suggest you get a clue...
+1
Lot's are part of the same con, and they justify their empty existence as overpaid online gamblers with self-glorification and man-purses.
Widowmaker
Speculation is part and parcel to free markets and capitalism. 70-80% of the price of crude is in speculation and so are the prices of the equity markets. So what's next; "hey, you can't buy stocks because you're manipulating the prices, you're speculating". This is beyond a slippery slope. If we don't attack the root problem, which has nothing to do with speculation, then we're going to destroy one of the last great freedoms we have.
Obama could [should] start with common sense. For one, not providing a drilling permit to a Petrobras and rather providing permits to drill locally. Secondly, stop villanizing businesses, he's the worst on record for this since Carter. Lastly, because we're not ready for green energy, stop force feeding it to us, let the free market determine when and how we'll transition to alternative energies.
This is what happens when you have some of the most liberal thinking advisors on the planet. Totally disconnected from reality, I give you Cass Sunstien.
Brazil force-fed ethanol to its citizens in the '70s. Look what it got them!
Yea! Free market, bitchez!!
gh
Hmm.... what's next? However to help someone with an addiction?
For the paper-shuffling banker-gangsters who can't tell corn from soybeans, 100% margin requirements. How's that for a start?
And while you're at it, stop gambling with government money. You're CUT OFF!
Finally, you're TAXED when you gamble. If I'm taxed when I buy basic commodities essential for survival, you can pay taxes on the turnover that takes place in your little testosterone filled gambling dens of frivolity.
Deleted
In other news, the obesity "epidemic" in the United States has led to the formation of a working group to study gravity. Damn that Waddell & Reed!
Some ideas on silver crash - or moving into new price territory and new stable gold/silver ratio?
http://saposjoint.net/Forum/viewtopic.php?f=14&t=2626&start=160#p31956
Ivars...out of curiosity and you being from Latvia and all; how is Latvia doing?
Are they rioting/protesting, buyers of physical bullion, starving. A flavor of the atmosphere
there, if you please. Don't here much about the place here in the USSA.
My first thought when I looked at that map of gas prices was that prices are higher in Ca. and Wa. I live in Or. I have heard many times the comments of out of staters passing through that the Oregon ban on pumping your own gas causes higher prices. So they apparently get to pump their own higher priced gas in Ca. and Wa.
Chuckle,
gh
Should have used blue colors for higher prices then they would almost mirror the voting habits of the residents.
Well Tejas stats are off...............$3.70's-$4.10
The Bernank, such a handsome rogue...Emperor Palpatine!
LOL!
Profosser Roberto's financial search engine, if let loose to analyse all input costs and output costs of the supply chain of oil in the ground to gas in the tank in various cities might make some amazing discoveries.
Check out the article on the billion price thingamabobber from MIT.
Maybe Obama should create a task force to read the the International Energy Agengy's (IEA) front web page (http://omrpublic.iea.org/) and observe that current world oil production is 88.75 million barrels per day, while the world demand is 90.2 million barrels per day, a 1.45 million barrel/day shortfall. (529 million barrels annually).
That map makes me want to throw up, and it doesn't even show HI on it...now there's nowhere is SoCal to get gas under 4.00 practically, I haven't seen a spot. Inflation will not stop and neither will the prices. solar and wind FTW!!!
www.forecastfortomorrow.com