In a follow-up to our discussion yesterday - and perhaps a haunting vision of days to come if the tensions that are so rapidly rising in the Middle East actually spill over - is this chart from Bloomberg of the massive spike in California gas prices. How will this impact the California economy? Especially now they can't count on all that Facebook capital gains tax? Think this is only those silly West Coast 'techies' problem? Think again, as news today is discussing the redirection of fuel supplies to the West Coast, which will inevitably mean a rise in broad US fuel costs as the shortage picture equilibrates.
- EXXON ALLOCATES FUEL TO WEST COAST TERMINAL CUSTOMERS :XOM US
Chart: Bloomberg Chart of the Day