This page has been archived and commenting is disabled.

California Wakes Up To Another Record High Gas Price

Tyler Durden's picture




 

Gas stations across California - from San Diego to San Francisco - are seeing increasing price-sensitivity by drivers with lines at the 'cheapest' and empty lots at the priciest. It seems yet another weekend of hyperinflating gas prices has pushed the until-now seemingly uncaring-at-the-margin gasoline-'user' to seek out rationally lowest prices. Credit card caps at pumps are also causing problems as the typical SUV-driving soccer-mom needs multiple lines to fill up the family people-mover. Gas prices rose 5c on average over the weekend alone to an all-time record high price of $4.668 (for Regular) - up 86c (or 22%) in a year and 12% in a week.

 

 

Source: AAA

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Mon, 10/08/2012 - 08:43 | 2867221 Vagabond
Vagabond's picture

The 400% increase in gas prices over the last 10 years is definitely transitory

Mon, 10/08/2012 - 08:53 | 2867246 GetZeeGold
GetZeeGold's picture

 

 

Can't afford any gas.......please throw some hope and change in there.

 

Hope it's enough to make it home.

 

Mon, 10/08/2012 - 09:03 | 2867277 krispkritter
krispkritter's picture

(The) Dope and Deranged 2012!

Mon, 10/08/2012 - 09:12 | 2867299 TIMBEEER
TIMBEEER's picture

Why can't we have such ridiculous gas prices here in Europe?! 50% discount.

 

Mon, 10/08/2012 - 09:20 | 2867320 GetZeeGold
GetZeeGold's picture

 

 

Socialism rocks.....doesn't it?

 

Mon, 10/08/2012 - 09:36 | 2867386 Thomas
Thomas's picture

Did somebody spring the Enron boys from jail? California seems like it is back under control by the Death Star.

Mon, 10/08/2012 - 10:39 | 2867542 foodstampbarry
foodstampbarry's picture

Put a jedi robe on Moonbeam and it's Emperor Palpatine - Good call

Mon, 10/08/2012 - 16:40 | 2869083 Boris Alatovkrap
Boris Alatovkrap's picture

Chancelor Palpatine is symbolism of Hitler, no? George Lucas is fascination with rise of Third Reich.

Mon, 10/08/2012 - 09:40 | 2867392 TIMBEEER
TIMBEEER's picture

Yes, as long as we don't run out of other peoples money .. which is paid at the pump by .. me?

Mon, 10/08/2012 - 16:41 | 2869085 Boris Alatovkrap
Boris Alatovkrap's picture

Fear is not shortage of money but is shortage of fuel and vodka!

Mon, 10/08/2012 - 13:39 | 2868557 Quantum Nucleonics
Quantum Nucleonics's picture

They are working on it.  Cali should hit Europe levels in 2015 when the bio fuels mandate (corn ethanol not allowed) kicks in.

At this point one wonders what the GDP hit to Q3 is from this gas spike.  Might even cancel out the iPhone5 effect.

Mon, 10/08/2012 - 09:07 | 2867287 resurger
resurger's picture

u wan an Obamafawnnn 2

Mon, 10/08/2012 - 08:55 | 2867251 EscapeKey
EscapeKey's picture

Absolutely - the next 10 years will bring a 40,000% increase.

Mon, 10/08/2012 - 09:01 | 2867270 Middle_Finger_Market
Middle_Finger_Market's picture

MO-DOLLARS MO-PRABLEMSSS.

Mon, 10/08/2012 - 09:19 | 2867319 malikai
malikai's picture

Greenbacks or Bluebacks?

Mon, 10/08/2012 - 09:33 | 2867380 spastic_colon
spastic_colon's picture

it'll help them sell all those overpriced chevy volt's though.....will be strangely humorous to see all those small business construction and movers etc. using electric cars for their livelihood [sarc]

Mon, 10/08/2012 - 09:09 | 2867288 JPM Hater001
JPM Hater001's picture

Transitory...agreed...It's just pausing before going from high to ludicrous.

Mon, 10/08/2012 - 09:26 | 2867346 spastic_colon
spastic_colon's picture

yes - CA is just the test market to see what the market will bear, and at what price people finally wake up

Mon, 10/08/2012 - 10:43 | 2867564 kralizec
kralizec's picture

Apparently they have more upside for increases, since morons appear to be still living there...

Mon, 10/08/2012 - 08:46 | 2867227 moonstears
moonstears's picture

Rancid addressed California's problems a decade ago...

see: http://www.youtube.com/watch?v=l6M4qE9oeoo

Mon, 10/08/2012 - 09:51 | 2867416 Spastica Rex
Spastica Rex's picture

So much better than Green Day.

Mon, 10/08/2012 - 11:14 | 2867661 Panafrican Funk...
Panafrican Funktron Robot's picture

Yes, I generally dislike bands that willingly assist in the co-opting of a medium of dissent by monied interests.  Put more simply, fuck sellouts.

Mon, 10/08/2012 - 08:47 | 2867230 BurningFuld
BurningFuld's picture

One word: ENRON

Mon, 10/08/2012 - 08:58 | 2867249 GetZeeGold
GetZeeGold's picture

 

 

Wow....someone junked you over Enron? Geez......let it go man.

 

Mon, 10/08/2012 - 10:17 | 2867491 Bagbalm
Bagbalm's picture

Enron junked itself.

Mon, 10/08/2012 - 09:15 | 2867309 Bicycle Repairman
Bicycle Repairman's picture

You got junked.  Ken Lay, is that u?

Mon, 10/08/2012 - 09:58 | 2867432 GetZeeGold
GetZeeGold's picture

 

 

You can make $8.50 an hour from the AFLCIO junking Enron....you don't even have to know what it is.

 

Mon, 10/08/2012 - 11:47 | 2868129 Bicycle Repairman
Bicycle Repairman's picture

I got junked twice.   Ken Lay's parole officer?

Mon, 10/08/2012 - 13:40 | 2868564 Quantum Nucleonics
Quantum Nucleonics's picture

Eh, Ken Lay is dead.  Zombie CEO's!  Hmm, there's a movie there somewhere.

Mon, 10/08/2012 - 09:26 | 2867347 DeadFred
DeadFred's picture

You may be on to something. A family friend in SoCal has been doing record business for months with his trucking business hauling Texas gasoline From the pipeline terminal near Riverside to the port in Long Beach, to be sent overseas. He complains about the wear and tear on his trucks and drivers from running every truck 24/7 but doesn't complain about his profits. Perhaps they could have seen the supply crunch and kept some in the tank farms? More likely they saw the crunch and that's why they sent away shiploads of the stuff.

On the other hand it could be formulation issues. Regulations require Cali gas to formulated different and the Texas gas might cause .002% more smog. Can't have that.

Mon, 10/08/2012 - 08:50 | 2867233 Inthemix96
Inthemix96's picture

Think yourselves lucky my American friends.

Over here in GB, we are paying £1.48 per litre.  If my math is correct, (which it might not be mind), thats about $11.50 a gallon.

Could be worse eh??????

Mon, 10/08/2012 - 08:56 | 2867256 Middle_Finger_Market
Middle_Finger_Market's picture

Americans literally don't know what high gas prices are (yet, they 100% will)...welcome to the real world bitchez, about time you joined the rest of us. 

Mon, 10/08/2012 - 09:03 | 2867278 LawsofPhysics
LawsofPhysics's picture

gonna be interesting to see how Uncle SAM keeps fuel in all those military vehicles.

Mon, 10/08/2012 - 09:15 | 2867306 TIMBEEER
TIMBEEER's picture

WE NEED DEMOCRACY IN .. wait a minute .. where is that darn map .. IRAN !!! YES, WE HEARD OF WEAPONS OF MASS DESTRUCTION!

Mon, 10/08/2012 - 09:18 | 2867315 Middle_Finger_Market
Middle_Finger_Market's picture

The military fills up in the Middle East.

Mon, 10/08/2012 - 09:50 | 2867413 Uncle Remus
Uncle Remus's picture

siphon drones....

Mon, 10/08/2012 - 11:35 | 2868076 moonstears
moonstears's picture

Uh, SPR?

Mon, 10/08/2012 - 09:24 | 2867338 Urban Redneck
Urban Redneck's picture

As an American in Switzerland the $7.85/gallon here seems damn cheap compared to over $10/gallon not that long ago, and this is in spite of the MAD printers at the SNB and its $2/gallon overnight hike.

Mon, 10/08/2012 - 11:46 | 2867866 moonstears
moonstears's picture

And so Urban Redneck, you now too realize that domestic gasoline is subsidized for J6P via the military industrial complex. Tax dollars at work, military pays it back, baby! You all should understand this, and I'm not talkin' "sarc". Hate the military all you want, cry for downsize, but know it's a vote for $10 gas, bitchez. Cali is experiencing a price adjustment from the "industrial complex" side, currently. Coming soon to a pump near you!(one asshole so far don't like the truth, imagine how military feels when a buddy dies and it's realized it's partly to save your ungrateful ass $2 a gallon at the pump, fucker.)

Mon, 10/08/2012 - 15:57 | 2868997 Umh
Umh's picture

I didn't junk you for lying. You are telling the truth. It's just a really silly reason for a continous state of war. And imagine how my daughter will feel if her husband dies to keep the price of the gas she uses down!

Mon, 10/08/2012 - 10:06 | 2867453 CommunityStandard
CommunityStandard's picture

Americans don't know high fuel prices because TAXES make up the majority of the price difference.  The "real world" should involve not taxing petrol to death.

http://www.aip.com.au/pricing/internationalprices.htm

Mon, 10/08/2012 - 10:56 | 2867611 Raymond Reason
Raymond Reason's picture

The "real world" is making our way along life's bumpy road without the reserve currency supplement. 

Mon, 10/08/2012 - 11:19 | 2867678 Panafrican Funk...
Panafrican Funktron Robot's picture

If Americans had the kind of public transport you have over in Europe, we probably wouldn't give such a massive shit about gas prices.  But, Ford Motor Company saw to it to fuck us pretty royally in that regard.  Then they doubled down and shipped all the manufacturing to Mexico back in the 80's.  Patriotic American Brand!  

Mon, 10/08/2012 - 08:57 | 2867259 EscapeKey
EscapeKey's picture

Well, where I live (Surrey), it rains so much the motorways have practically turned into rivers, so small boats would seem more appropriate.

Remind me to ask for a "James Bond special" next time I have my car serviced.

Mon, 10/08/2012 - 09:03 | 2867280 Inthemix96
Inthemix96's picture

(Northumberland).

Damn right mate, never had a year like it.  This country isnt just screwed politically, even the bloody weather hates us??

Mon, 10/08/2012 - 09:18 | 2867316 GeezerGeek
GeezerGeek's picture

Too bad for you that the Amphicar is no longer in production. http://en.wikipedia.org/wiki/Amphicar

Mon, 10/08/2012 - 09:22 | 2867327 malikai
malikai's picture

Best quote from the wiki page:

"We like to think of it as the fastest car on the water and fastest boat on the road."

Mon, 10/08/2012 - 11:25 | 2867801 Panafrican Funk...
Panafrican Funktron Robot's picture

"President Lyndon B. Johnson was known as an owner of an Amphicar. Apparently he liked to scare new visitors to his ranch by driving them downhill in his Amphicar directly into his property's lake, all the while shouting that the brakes have broken."

Mon, 10/08/2012 - 08:58 | 2867261 Middle_Finger_Market
Middle_Finger_Market's picture

OH MY GADDDD my mega chucky cheese burger just doubled in price and still tastes like shit. 

Mon, 10/08/2012 - 09:13 | 2867302 LULZBank
LULZBank's picture

Substitute goods... Try the real thing then.

Mon, 10/08/2012 - 09:00 | 2867265 MiltonFriedmans...
MiltonFriedmansNightmare's picture

US petrodollar....nuff said, eh?

Mon, 10/08/2012 - 09:06 | 2867284 Moe Howard
Moe Howard's picture

Yes, it could be worse. You do understand the difference in cost is tax, right?

We are not "lucky" we have lower taxes on fuel. We just haven't gone full socialist yet, like your country.

 

Mon, 10/08/2012 - 09:11 | 2867293 Inthemix96
Inthemix96's picture

Here Moe Howard, of course I do.

Over here the taxes, including VAT at 20% come to something around 87 pence in the pound.

Not one of us around the world living under any form of government are "lucky" mate, its time we consigned them to the dustbin of history, including the bastard royals.

Mon, 10/08/2012 - 09:15 | 2867311 Moe Howard
Moe Howard's picture

We are in full agreement there mate.

Mon, 10/08/2012 - 09:17 | 2867313 Inthemix96
Inthemix96's picture

;-)

Mon, 10/08/2012 - 09:18 | 2867314 Bicycle Repairman
Bicycle Repairman's picture

The difference in gasoline prices between Europe and the US is taxes.  That's pretty much it.  European can choose a modern public transportation system.  Americans can't.

Mon, 10/08/2012 - 09:26 | 2867353 Inthemix96
Inthemix96's picture

Bicycle repairman,

Modern public transportation system?  Here?  In the north of England?  Hahahahahaha.

I see you dont travel here often mate?  This country is falling apart mate, literaly.

Mon, 10/08/2012 - 09:44 | 2867399 Bicycle Repairman
Bicycle Repairman's picture

I was thinking of the continent.  I've driven through the UK. 

I guess you have your work cut out for you.

Mon, 10/08/2012 - 09:57 | 2867434 Abitdodgie
Abitdodgie's picture

I lived in Oldham , its grimm up north.

Mon, 10/08/2012 - 09:29 | 2867366 Urban Redneck
Urban Redneck's picture

Taxes & REGULATIONS.  It is the regulations, not the taxes, that are causing the current price convergence between the PRC and the EU.

Mon, 10/08/2012 - 09:44 | 2867400 LawsofPhysics
LawsofPhysics's picture

Yeah, regulations are bad, just ask the banks and financial houses.  If regulations and laws were actually in place or enforced then they would have to suffer real consequences for bad behavior.  Instead that is only reserved for urban rednecks.  "Winning"

Mon, 10/08/2012 - 10:31 | 2867521 Urban Redneck
Urban Redneck's picture

Some banker must have pulled an epic fuck and run on your ass.

Oil companies might not be the cuddliest of bed mates either, and they certainly do get the soft glove of justice when it comes knocking, compared to the average too small to matter slave.  But even BP (which as far as I know has never even accused of violating California's CARBOB regs) paid out more money then you'll ever see for the cleanup of their most recent big fuckup.  And the oil companies do it without of the benefit of their own pet Bernanke and his <CTRL-P> dunking bird.

Mon, 10/08/2012 - 12:31 | 2868322 Totentänzerlied
Totentänzerlied's picture

Gas at $6.00/gal would be a bullet through the heart of the American economy. Game over.

Mon, 10/08/2012 - 16:15 | 2869029 Umh
Umh's picture

It would also reduce the size and number of vehicles on the road better than regulations ever will. All vehicle gas mileage regulations ever did was make veryone want an SUV, since the typical family is cramped in an Neon.

Mon, 10/08/2012 - 14:38 | 2868758 steve from virginia
steve from virginia's picture

 

 

 

 - Gasoline prices are relative. High prices elsewhere include taxes intended to support gasoline wasting infrastructure along with deserving tycoons. In America, deserving tycoons sell fuel directly so higher prices reflect 'supply and demand' (and presumably Godliness and/or the pitiless Randian dead-hand of Darwinism).

 

 - Supply and demand relationship indicates shortages within the fuel supply sector. Some do without, others pay the high price. Once people are unable to pay, fuel is rationed the old fashioned way ... by shortages. Right now fuel is rationed by price/access to credit. 

 

 - By the way: shortages caused by fuel being unaffordable are permanent ... as in 10 million years, permanent. This is the outcome of mispriced capital. It gets wasted. Gone is gone.

 

What comes next (after the crashing)? Bicycles, Bitchez!

Mon, 10/08/2012 - 08:50 | 2867234 put_peter
put_peter's picture

California is doing a good job catching up Europe. Just as a reference gas here is (95E) 1.78e/liter. That's nine bucks per gallon folks...

Mon, 10/08/2012 - 08:51 | 2867238 LawsofPhysics
LawsofPhysics's picture

So there is still a lot of dollar destruction to come then.  "winning"

Mon, 10/08/2012 - 08:56 | 2867257 put_peter
put_peter's picture

The moment when it is cheaper to burn dollars (or euros for that matter) than gas in your engine is coming closer and closer. As a matter of fact they should not be developing 'electoric vechiles' but note burning vechiles to save the world from the crisis.

Mon, 10/08/2012 - 08:59 | 2867263 LawsofPhysics
LawsofPhysics's picture

In that case, long locking gas caps.  The 70's are back, without any wage inflation of course, or the ability to actually raise interest rates.  FAIL.

Mon, 10/08/2012 - 10:20 | 2867503 dynomutt
dynomutt's picture

A-hyup.  I have already bought a locking gas cap for my miserly econobox, I did so when gas was ~$3.59.  My motorcycle has it from the factory and my old car that is resigned to pulling the trailer has the locking fuel door from the factory as well.

 

Put your mind ahead a few months.  You'll save many dollars and tears that way.

Mon, 10/08/2012 - 09:14 | 2867307 txsilverbug
txsilverbug's picture

They're gonna want a bailout..

Mon, 10/08/2012 - 08:51 | 2867237 resurger
resurger's picture

i get it now, Gas prices in QE and Oil doesnt.

Mon, 10/08/2012 - 09:04 | 2867282 GetZeeGold
GetZeeGold's picture

 

 

Attaboy.....the more we print.....the more gas will cost.

 

See how simple?

Mon, 10/08/2012 - 08:54 | 2867241 Rainman
Rainman's picture

It's pretty obvious that Big Energy wants President Nope and Blame out of the Oval office. Just knock a few holes in the old CA refinery pipes. Clever.

It would be a world shattering event if Obama lost California. One can only dream.  

Mon, 10/08/2012 - 08:56 | 2867250 CommunityStandard
CommunityStandard's picture

It'd be a pretty dumb plan to try and sabotage the CA vote.  Sorry, not clever at all.

Mon, 10/08/2012 - 09:23 | 2867331 Bicycle Repairman
Bicycle Repairman's picture

Yeah.  If you are running a totally corporatist candidate who had no chance of winning and is even rejected by his own party, you'd be a fool to use your corporate power to try and create a series of outrages and try and manipulate the vote in his favor.

A mad fool.

Mon, 10/08/2012 - 09:44 | 2867397 GetZeeGold
GetZeeGold's picture

 

 

It'd be a pretty dumb plan to try and sabotage the CA vote.

 

They're just about full tilt stupid retard to try it.

 

Mon, 10/08/2012 - 09:21 | 2867325 GeezerGeek
GeezerGeek's picture

High gasoline prices will not stop California from giving its electoral votes to Obama. As in Europe, high gasoline prices seem to go hand in hand with voting for liberal/progressive/fascist politicians who promise to take care of 'the little people'.

Mon, 10/08/2012 - 08:56 | 2867252 Mr. Hudson
Mr. Hudson's picture

Chavez just won re-election, and Venezuelans only pay 12 cents a gallon. Maybe California needs a leader like Chavez instead of Brown.

Mon, 10/08/2012 - 09:01 | 2867268 krispkritter
krispkritter's picture

No thanks. We already have a 'brown Chavez'. He's in the 'White' House...

Mon, 10/08/2012 - 09:25 | 2867340 malikai
malikai's picture

Not even close.

Chavez is trying to acheive the Bolivarian Socialist model.

Obama is a puppet of the Corporate Caliphate model.

Mon, 10/08/2012 - 13:04 | 2868437 Totentänzerlied
Totentänzerlied's picture

"Chavez is trying to acheive the Bolivarian Socialist model."

If you actually believe that, I have a bridge to sell you, vendor-financed!

Mon, 10/08/2012 - 09:25 | 2867339 Bicycle Repairman
Bicycle Repairman's picture

California would be better off with Radonski.  Chavez is a socialist.

Mon, 10/08/2012 - 08:58 | 2867260 Buck O Five
Buck O Five's picture

Boo fucking hoo.

In Australia you pay ~$1.50 AUD a litre at the pump, thats $5.67 AUD Gallon or ~$5.78 USD.

Quit yer bitching and take a spoonful of cement...

Mon, 10/08/2012 - 09:13 | 2867304 txsilverbug
txsilverbug's picture

Who's bitching?

Mon, 10/08/2012 - 09:16 | 2867312 LULZBank
LULZBank's picture

In the short term, its not about how much you pay but how much you are used to paying and the rest of the economy and society is built around it.

Mon, 10/08/2012 - 09:41 | 2867393 duo
duo's picture

I'll bet there is no one in California that can figure out if it's worth driving 5 miles out of their way to save 10 cents on a gallon of gas in a 15 gallon fill up,  If you get 15 MPG in stop-and-go LA traffic, it isn't.

Mon, 10/08/2012 - 16:21 | 2869039 Umh
Umh's picture

It's like watching people drive several miles around a 50 cent toll road when they're getting 20 cents to the mile.

Mon, 10/08/2012 - 08:58 | 2867262 MiltonFriedmans...
MiltonFriedmansNightmare's picture

Wholesale prices excluding volatile food and energy sectors rose 0.2%....

In other news, the US Bureau of labor statistics reported Friday that the  unempoyedment rate has fallen to 7.8%, indicating that US Federal Reserve chairman Ben Bernanke has achieved his goal of price stability and full employment......

Mon, 10/08/2012 - 09:03 | 2867276 deez nutz
deez nutz's picture

I keep hoping for a san andreas movement out there in cali.  anything to push this thing over the edge and get the real party started!!

Mon, 10/08/2012 - 09:23 | 2867329 Moe Howard
Moe Howard's picture

Maybe if you could get all the illegal aliens in Cali to jump up and down at the same time it would break off and sink.

Hopefully it will take TJ with it.

Mon, 10/08/2012 - 09:20 | 2867301 Moe Howard
Moe Howard's picture

Comparing fuel prices with countries that don't tax fuel at the same rate, or even subsidize it, is not very bright, nor is it informative.

Fuel might be very high in California due to special local market circumstances. I live in Kentucky, gas is $3.59 for regular.

Strip off the taxes [and the subsidies] and then compare, please.

Here in Kentucky regular gasoline is $0.15 in 90% silver pre-1964 coins.

In California it would be $0.17 in 90% silver pre-1964 coins.

Does that clear up what a non-event this is?

Mon, 10/08/2012 - 09:28 | 2867362 Bicycle Repairman
Bicycle Repairman's picture

One thing I noticed about KY, gas prices can move 20 cents in a day (up that is).  And every single station statewide implements the exact same increase.

Free market?

Mon, 10/08/2012 - 10:02 | 2867448 Moe Howard
Moe Howard's picture

Free to look across the street and jack up to equal.

The prices seem to move in line with how many out of staters are driving in, like during derby.

Mon, 10/08/2012 - 09:15 | 2867308 debtor of last ...
debtor of last resort's picture

I don' t even have a credit card, and a few years ago i cancelled the ability to let my bankaccount drop below zero. I saw the dark clouds already. Caps on creditcards? Mwahaha! Wake up calls will drop like rain the coming months/years.

Mon, 10/08/2012 - 09:19 | 2867317 wcvarones
wcvarones's picture

Who cares?

Why would I have to drive anywhere when I have food stamps, 99 weeks of funemployment, and a free Obamaphone.

I can't believe you suckers are still driving to work.

Mon, 10/08/2012 - 09:21 | 2867326 Moe Howard
Moe Howard's picture

Don't forget your free Obamacare.

Mon, 10/08/2012 - 09:52 | 2867418 GetZeeGold
GetZeeGold's picture

 

 

It's a tax.....it's not like you actually have to buy it. - Chief MF Roberts

Mon, 10/08/2012 - 09:25 | 2867342 GeezerGeek
GeezerGeek's picture

It'll be even better in California once they get that high speed railway built.

Mon, 10/08/2012 - 15:50 | 2868983 Bicycle Repairman
Bicycle Repairman's picture

First leg is Bakersfield to Stockton.  BOOYAH!!!

Mon, 10/08/2012 - 09:30 | 2867369 Bicycle Repairman
Bicycle Repairman's picture

I have to drive from my underwater exurban flop house to the liquor store and Blockbuster.  It adds up.

Mon, 10/08/2012 - 09:21 | 2867323 RougeUnderwriter
RougeUnderwriter's picture

If we had more refineries and an actual energy poliy that matches what and when refineries could go down for servicing along with a plan for back up when one exploses out of the blue, that would stabilize price. But that would entail an actual energy policy which our leaders seems to not want. 

Mon, 10/08/2012 - 09:28 | 2867360 GeezerGeek
GeezerGeek's picture

Who was it that said a good crisis should not be wasted? Why try to avoid crises when they can be turned to a political advantage.

Mon, 10/08/2012 - 09:31 | 2867376 Bicycle Repairman
Bicycle Repairman's picture

"actual energy poli[c]y", "along with a plan"

Policy, planning?  LOL.  No thanks, comrade.  I'd rather fly blind.

Mon, 10/08/2012 - 09:46 | 2867405 jal
jal's picture

You got it backward.

You need more refinery fires and breakdowns to increase your profit. 

Servicing cost money. Accidents/fire/breakdowns are covered by insurance.

 

Mon, 10/08/2012 - 10:16 | 2867486 Bangin7GramRocks
Bangin7GramRocks's picture

Why would the energy companies want any excess supply? They achieve higher profits when supply is "low". There is incentive to not have enough gasoline. Didn't anyone learn from Enron. Isn't it a tad suspicious that all of these things have happened to refineries at the same time? Oh yeah, one more thing. FUCK AYN RAND!

Mon, 10/08/2012 - 09:21 | 2867324 realtick
Mon, 10/08/2012 - 09:26 | 2867349 cynicalskeptic
cynicalskeptic's picture

California - where the American Dream went hyperdrive and died..... everyone wanted nice homes in the 'suburbs' but most ended up with houses far out in the EXurbs - and ridiculously long commutes (BY CAR) to get to their jobs.  Lots of housing built in places that shouldn't have anything built on it.  Sprawl run amok - and a good part of it in the desert.  Not enough water and when it comes, you've got hilllsides giving way taking houses with them.  When there's no rain, you've got wildfires feeding on explosive brush and trees.  

Meanwhile the Central Valley doesn't have enough water left to support agriculture - while the air is so bad you can see the divide beteeen the brown air and the blue as you drive up into the mountains.

A beautiful land that people have made a mess of.

Only Nevada - Vegas in particular - is more irrational.

Mon, 10/08/2012 - 09:33 | 2867379 Bicycle Repairman
Bicycle Repairman's picture

LA and Vegas are both built on deserts.

Mon, 10/08/2012 - 09:45 | 2867401 Uncle Remus
Uncle Remus's picture

Aaaaaaaaannd Phoenix for the trifecta.

Mon, 10/08/2012 - 12:08 | 2868224 Monkeyfister
Monkeyfister's picture

Instead of sprawling OUT, they should have built UP, meaning more hi-rise dwelling and higher density closer to the centers of employment. Could have made walkable areas, and street-level retail in those hi-rises for ease and services access. But, there was mad-money in exurban sprawl, so the greedhead developers decided to build out, and trash the economy in the process.

Mon, 10/08/2012 - 13:00 | 2868413 Blue Horshoe Lo...
Blue Horshoe Loves Annacott Steel's picture

I'd give U +100 if I could.

That summary should  be in all the real estate guides trying to entice people to move to Cali.

Lol.  Great summary.  I don't even want to visit now.

Mon, 10/08/2012 - 09:26 | 2867350 drivenZ
drivenZ's picture

"It seems yet another weekend of hyperinflating gas prices"

 

so state specific refinery and pipeline issues = hyperinflation? whatever you say ZH. 

Mon, 10/08/2012 - 09:31 | 2867373 jcmjr
jcmjr's picture

California has inflicted these enormous spikes on itself becaus they require a special fall blend and if, during this blending process, there are any refinery problems this is what happens. I wonder if prices will continue to go up when Cap and Trade begins(in November).

Mon, 10/08/2012 - 09:39 | 2867390 Bicycle Repairman
Bicycle Repairman's picture

Yeah, "Cali" needs a special blend.  So now the gasoline industry has to keep special "Cali" ingredients around and we have to add a couple of steps to the process and it complicates things.  Those "Cali" freaks always got to be different.

IT'S A HASSLE, MAN!!!

Mon, 10/08/2012 - 09:46 | 2867407 Uncle Remus
Uncle Remus's picture

And yet, the Dude still abides this shit...

Mon, 10/08/2012 - 09:34 | 2867384 Bicycle Repairman
Bicycle Repairman's picture

"so state specific refinery and pipeline issues = hyperinflation? whatever you say ZH"

Ssshhhh, you'll wake the baby.

Mon, 10/08/2012 - 09:43 | 2867395 orangegeek
orangegeek's picture

The price for CME gas per gallon is about $2.95 today.  It was about $3.40 in April 2012 and $3.60 in early 2008.

 

Yet prices at the pump keep rising.  Fancy that.

 

Oil continues to fall too - down below $90 again this morning.

 

http://bullandbearmash.com/chart/spot-wti-oil-daily-october-05-2012/

 

Stimulus at four year highs in the markets, gas prices at the pumps rise as CME gas is in a decline.  Nice world we live in.

Mon, 10/08/2012 - 09:45 | 2867404 LawsofPhysics
LawsofPhysics's picture

Someone is raising some revenue, that's for sure.

Mon, 10/08/2012 - 12:02 | 2868196 Monkeyfister
Monkeyfister's picture

This has the stench of the Ghost of ENRON alllllll over it. 

Mon, 10/08/2012 - 12:57 | 2868408 Blue Horshoe Lo...
Blue Horshoe Loves Annacott Steel's picture

The Ghosts of Enron.   Sounds like a great title for a spooky Halloween movie.

Mon, 10/08/2012 - 10:09 | 2867466 lolmao500
lolmao500's picture

Boooooooohooooooooooo.

Mon, 10/08/2012 - 10:15 | 2867477 Quinvarius
Quinvarius's picture

Everytime the Obama finance team intervenes in oil, they destroy refiner hedges.  This is a cost that must be passed on it.  Without passing the cost on, refiners close, causing scarcity.  Worst of all, Obama's finance team uses the banks as a conduit for SPR releases and interventions instead of releasing SPR oil directly to the refiners as the system was designed.

Every time you see a fake dip in oil prices, know that gasoline prices will soon be rising.

Mon, 10/08/2012 - 10:17 | 2867490 yogibear
yogibear's picture

No biggie. People will keep paying. Gas can go much higher and people will adapt.

Mon, 10/08/2012 - 10:26 | 2867518 q99x2
q99x2's picture

Government buses and cars run on LNG serfs have to use gasoline. When the Government begins its attack on the people they can shut down the gasoline stations and prevent us from escaping. Ugh. Could be starting today. Good thing I'm doing marathon training. Not a bad idea for fat fucking people to maybe do some F'n walking as well.

Mon, 10/08/2012 - 11:02 | 2867624 IridiumRebel
IridiumRebel's picture

my Rascal is electric.........

Mon, 10/08/2012 - 10:29 | 2867524 FubarNation
FubarNation's picture

CC caps have been around for years.  No one ever talks about it.  As the owner of 3 SUV's I can attest. 

 

Rationing is and has been here for some time.

Mon, 10/08/2012 - 11:27 | 2867842 El
El's picture

I'm long horses and carts.

Mon, 10/08/2012 - 12:01 | 2868190 Monkeyfister
Monkeyfister's picture

Who says ENRON is dead? This REEKS of the Politics of BigOil inflicting itself on Californians-- just like when ENRON laughed and laughed while shutting off Granny's electricity for fun and Political Profit. I'd bet a good RICO investigation will get to the bottom of this, toot sweet.

Mon, 10/08/2012 - 12:14 | 2868260 Joebloinvestor
Joebloinvestor's picture

Californians showed their DUMB by giving the moron another bite of the apple.

Jerry is worthless.

Mon, 10/08/2012 - 12:54 | 2868390 Blue Horshoe Lo...
Blue Horshoe Loves Annacott Steel's picture

Ok, so let me get this straight.  The USA is playing economic terrorist to Iran by causing the crumbling of their currency {the riall} & causing hyperinflation.

Ben Shalom Bernanke is causing the crumbling of our currency too, yet Iranians are the crazy people?

Ben S. Bernanke is also a terrorist by the definitions of the fascist Department of Homeland Stupidity.  Who's done more harm to America, Bernanke or Ackmadinjod (not sure how to spell his name, but does it really matter?).

Mon, 10/08/2012 - 13:12 | 2868467 Totentänzerlied
Totentänzerlied's picture

Couldn't happen to more deserving made-its-own-bed-now-fucking-sleep-in-it state than California. 

Mon, 10/08/2012 - 15:39 | 2868965 Westcoastliberal
Westcoastliberal's picture

I agree with all the previous posters that this smells like Enron.  As I recall they had 4 to 6 reasons why the electricity was in "short supply" as they boasted internally about "fucking grandma".  Same deal here; it's the lack of "Summer blend", it's a pipeline to a refinery that failed, it's about a power outage at a refinery, a refinery offline for maintenence, and a fire at the Richmond refinery a couple of weeks ago....take your pick.

At least Diane Feinstein in on the case and boy does that make me feel "better" paying $4.79 for regular.

http://losangeles.cbslocal.com/2012/10/07/feinstein-asks-ftc-to-investig...

Do NOT follow this link or you will be banned from the site!