Obama Addresses California - Live Webcast: Will He Discuss Record High Gas Prices?

Tyler Durden's picture


The president is about to speak in Keene, CA, just off Bakersfield, where he will announce the establishment of the Cesar Chavez national monument. That at least is the official topic. What everyone is curious about is if Obama will bring up the topic that is on every Californian's mind today: gas prices that have never been higher.  Find out shortly if the recent gas price breakout is once again the work of evil, evil speculators, some of whom may not even have a printing press, or if the market's discounting of $1 trillion in new Treasury monetizations by the Fed, or roughly half the budget deficit through 2014 has anything to do with it. Also, certainly keep an eye on RBOB and various energy margin hike after the close. After all, Obama is not known as the margin hiker-in-chief for nothing.

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Mon, 10/08/2012 - 14:25 | 2868731 vmromk
vmromk's picture

Obama = BOZO

Mon, 10/08/2012 - 14:30 | 2868741 slaughterer
slaughterer's picture

Obama the Saviour will dramatically announce the SPR release in order to "save" CA.  

Mon, 10/08/2012 - 14:37 | 2868763 chumbawamba
chumbawamba's picture

If we all use our collective subconscious and focus it on Keene, California, we could summon a swarm of flesh eating locusts that have a particular affinity for Kenyans.

I am Chumbawamba.

Mon, 10/08/2012 - 14:52 | 2868818 economics9698
economics9698's picture

Romney exposed the fraud, why are his lips still moving?  

Mon, 10/08/2012 - 15:06 | 2868872 DoChenRollingBearing
DoChenRollingBearing's picture

He just finished: "Si se puede, si se puede!"

I say: "Oro, putaz!"

Mon, 10/08/2012 - 15:21 | 2868900 redpill
redpill's picture

One could say bringing up Cesar Chavez is just a dog whistle for Mexicans, but then I remember you're only allowed to say such things if you're talking about white people and accusing them of racism.


And I concur with señor RollingBearing.  ¡Oro y plata, putas!

Mon, 10/08/2012 - 15:22 | 2868920 MillionDollarBogus_
MillionDollarBogus_'s picture

Romney promised a raise for the middle class if elected.

I'm middle class.

He has my vote.


Mon, 10/08/2012 - 15:27 | 2868935 redpill
redpill's picture

But no phone?  Well fuck dat!  Here I's a comin Obammy!

Mon, 10/08/2012 - 19:11 | 2869384 Bicycle Repairman
Bicycle Repairman's picture

MDB at a break even.  LOL.

Mon, 10/08/2012 - 15:35 | 2868951 knukles
knukles's picture

Amazing how the "we"s of the world have all of a sudden had it, period, with that leftie racist accusation crap.
(Disclaimer: I don't believe that whether the lefties or righties win or loose is gonna make a bit of difference, for its gonna be the same old shit for every significant policy under heaven, gonna just be the rhetoric that changes)
There is a singular point and don't ask me where mine was, that I can only be told I'm a racist so may times for having a good faith difference of opinion about economic ,social and political issues and be accused of being a racist... when in fact, what I am speaking of a difference about has absolutely Nothing To Do With anybody's race, color, creed, religion, social background, voting preference and the like.
None, nada, naught, zero, zip, end of conversation.
At some point I give up.
At some point where the people yelling race are the one's actually playing the so called race card, are indeed the very racists they wish to defame and extinguish, then somewhere along the way, they loose me.

For they have displayed bad faith, a lack of character, immaturity and deception.

Indeed, I begin to act and most importantly react in the very same fashion they perpetuate by their words and deeds and claim to loath.
And the topic is far too big and important to be abused in such a manner.
Racism... look, popping up it's very ugly head worse than I can remember in ages, and seemingly to me being fueled by those who are supposedly the bearers of the liberal ultimate inclusive agenda.

I am  disgusted.
Ya'll are loosing a very large audience.....
A very large audience who as mature rational individuals had thought this type of malfeasance was well past.

Mon, 10/08/2012 - 21:49 | 2869644 StychoKiller
StychoKiller's picture

I posted this comment on the Tea Party on CBS.com some time ago:


The left doesn't need to show respect I guess when they have thugs who steal their money in the form of taxes.

[quote]"What I can't figure out is why some people are so threatened or angry at the Tea Party movement. What threatens them?"[/quote]

Perhaps what threatens the "Progressive" world view of those others is the Tea Party principles:   Small government, fiscal responsibility, following the Constitution, and education about rights.

After all, none of these principles actually support the "Progressive" notions of an all-powerful US Govt. dictating everything EVERY Citizen should or should not be doing while they're alive in the USA.

There are no valid (or perhaps honest is better) counter principles to be had for the typical "Progressive" (Socialist Decepticrat?).  Can you imagine arguing in favor of an "Irresponsible Fiscal Policy?"  How about "Ignoring the US Constitution?"   How about "Less Rights Education for our Children?"  Let's see the hands in favor of a LARGER Federal Govt...

If they were to be completely and Intellectually Honest about what they ("Progressives") are supporting, everyone would see the "Emperor has no clothes."  So they have to grasp at straw men, such as "Racism", "Idiocy", "Hatred", etc. to hide their own lack of good counter arguments.


Mon, 10/08/2012 - 16:25 | 2869052 MiltonFriedmans...
MiltonFriedmansNightmare's picture

Betcha he didn't mention Hugo Chavez's endorsement of last week.

I'll betcha.

Mon, 10/08/2012 - 14:52 | 2868819 kaiserhoff
kaiserhoff's picture

Are Voodoo dolls illegal in the States?  Just asking.

Mon, 10/08/2012 - 16:14 | 2869027 Lost Wages
Lost Wages's picture

Dolls are legal, but zombification drugs are not.

Mon, 10/08/2012 - 16:31 | 2869063 Raymond K Hessel
Raymond K Hessel's picture

You need a prescription for that.

Mon, 10/08/2012 - 18:43 | 2869318 knukles
knukles's picture

Free on Obamacare if you're over 70

Mon, 10/08/2012 - 19:01 | 2869351 Hi Ho Silver
Hi Ho Silver's picture

Covered under Obamacare.

Mon, 10/08/2012 - 22:59 | 2869785 A Nanny Moose
A Nanny Moose's picture

If there isn't already, there should be an app for that. Makes it easier to sniff out those who "hate us because we are free"

Mon, 10/08/2012 - 14:40 | 2868772 Dr. Engali
Dr. Engali's picture

Yeah but oil isn't the problem, it's been coming down. The problem is an infrastructure problem. No amount of oil from the SPR can fix that.

Mon, 10/08/2012 - 17:37 | 2869189 Chuck Walla
Chuck Walla's picture

¡Sí se puede! 

we haven't built a new refinery in how many years? Now, the bill for ignorance and economic stupidity has come due(in so many ways).


Mon, 10/08/2012 - 18:00 | 2869231 LMAOLORI
LMAOLORI's picture



I guess the environment isn't so important after all say's Jerry Brown


Mon, 10/08/2012 - 23:00 | 2869791 A Nanny Moose
A Nanny Moose's picture


Mon, 10/08/2012 - 19:13 | 2869387 Bicycle Repairman
Bicycle Repairman's picture

When and where was the last refinery built?

Mon, 10/08/2012 - 20:18 | 2869505 Umh
Umh's picture

What idiot would build a refinery in the US? Just think about that for a while! Why would I build something for the STATE to confiscate?

Mon, 10/08/2012 - 22:06 | 2869687 StychoKiller
StychoKiller's picture

"Working on de Sunday, in refinery;

Make a million for de Texans, twenty dollar me..."

Rolling Stones, "Luxury", on "It's Only RocknRoll"

Mon, 10/08/2012 - 15:12 | 2868874 Temporis
Temporis's picture

si se puede!! 





Mon, 10/08/2012 - 22:23 | 2869714 NidStyles
NidStyles's picture

No way, Bozo was awesome. Obama is the dirty. douche dribble. He's not even good enough to be the receptacle of the bag itself, much less the bag. He's just the dirty dribble from the used douche.

Mon, 10/08/2012 - 14:28 | 2868735 Deathrips
Deathrips's picture

He should take a long walk in the central valley..with no supplies ..by himself. Not the end of this all...but a good start.

Mon, 10/08/2012 - 14:31 | 2868745 djsmps
djsmps's picture

The President is about to speak...........................eventually.

Mon, 10/08/2012 - 16:03 | 2869008 knukles
knukles's picture

"I hear ya talkin'
But it don't soak in..."

Mon, 10/08/2012 - 23:02 | 2869794 A Nanny Moose
A Nanny Moose's picture

In Keene, CA....Keene....Cawlifawniah.

Claim to fame....the loop in the Choo Choo tracks.

Mon, 10/08/2012 - 14:32 | 2868746 Jim in MN
Jim in MN's picture


My Mom had that button.  I took it literally as a child and thought better of him.

Mon, 10/08/2012 - 14:35 | 2868754 Comay Mierda
Comay Mierda's picture

20 minutes late


Mon, 10/08/2012 - 14:50 | 2868813 Sixdeuce062
Sixdeuce062's picture

Don't worry the Presidents here we are just waiting on the TOTUS to arive.........

Mon, 10/08/2012 - 14:35 | 2868760 CloseToTheEdge
CloseToTheEdge's picture


Mon, 10/08/2012 - 14:54 | 2868825 BandGap
BandGap's picture

What does MTBE have to do with this? I thought that was outlawed in CA after they discovered the by-products of combustion are carcinogenic, not to mention having a propensity for MTBE to find it's way into ground water.

Mon, 10/08/2012 - 14:35 | 2868761 Harriet Wanger
Harriet Wanger's picture

While I can understand sarcasm about speculators being responsible for high commodity prices, I also think that prices are being driven more by speculation than by supply and demand, which means I'm taking it in the shorts.

Allowing speculators to roll over their futures positions is insane. Take away that bit of bizarre "modernization," and prices will start adjusting back from bankster-wet-dream land.

Mon, 10/08/2012 - 14:38 | 2868771 mpodval
mpodval's picture


Mon, 10/08/2012 - 14:49 | 2868811 kridkrid
kridkrid's picture

Nixon saved the dollar fom evil speculators when he closed the gold window. He said so himself. It's always the cover. Always. Blaming speculators is retarded.

Mon, 10/08/2012 - 15:03 | 2868859 Urban Redneck
Urban Redneck's picture

1) How do you differentiate a speculator rolling a position from a hedger rolling position?

2) How do you match terms and provide market depth if positions cannot be rolled?

3) How do match products and still provide market depth when there aren't the are nowhere near the depth of paper oil products to match physical oil products whose price risk a commercial oil consumer seeks the hedge?

Without solving the above, the only the effect of trying to "clamp down" on speculators is to raise prices for everyone.

And by the way, if someone were to actually try to reign in the evil speculators, there's a small group of guys Geneva who trade 1/3 of the world's paper oil (far more than the US physically consumes), and can create and EUR denominated paper oil at the drop a hat, which would have a far greater impact on the USD cost of oil products that US consumers pay, throwing a big fat wrench in Barry's endless summer recovery plans, at the same time the effect EUR would throw a big fat wrench in Frau Ferkel's endless debase and export designs.

Brighter and more skilled leaders might be able to come up with something workable, but I wouldn't hold out hope for the current crop of cretins to do anything other than screw up the situation and screw over the masses.


Mon, 10/08/2012 - 15:10 | 2868883 Urban Redneck
Urban Redneck's picture

That's not to say there aren't a bunch of things that can't be done around the periphery like killing the ETF's- since neither Granny nor Goldman Sucks are properly hedging through those sorts of products.

Mon, 10/08/2012 - 15:47 | 2868980 XitSam
XitSam's picture

This has been, at least in part, inflicted on California by their elected representatives with special fuel mixtures.

Mon, 10/08/2012 - 19:16 | 2869395 Bicycle Repairman
Bicycle Repairman's picture

Yeah, got to keep those special "Cali" ingredients available and to create "Cali" gasoline takes two extra steps.  It's impossible.  I hate Cali.

Mon, 10/08/2012 - 14:38 | 2868768 redd_green
redd_green's picture

As if Obama has anything to do with gasoline prices in California, or anywhere else for that matter. :(

Mon, 10/08/2012 - 14:38 | 2868769 foodstampbarry
foodstampbarry's picture

Let me be perfectly clear....I have no idea what the hell I'm doing.

I'm Barik Obama and I approved this message.

Mon, 10/08/2012 - 14:40 | 2868775 Dre4dwolf
Dre4dwolf's picture

Lol everytime someone mentions Obama , I can only think of the Obama phone lady.... so bad.


Mon, 10/08/2012 - 22:37 | 2869743 Cathartes Aura
Cathartes Aura's picture

working as intended serf.

(not a voter, Bernays sends his regards)

Mon, 10/08/2012 - 14:40 | 2868776 Mercury
Mercury's picture

I bet he dedicates it to "Hugo Chavez" instead.

Mon, 10/08/2012 - 14:56 | 2868837 Zymurguy
Zymurguy's picture

Sad that when I first saw the headline I thought it perfectly plausible that our president would be dedicating a statue to some commie.

Fuck this shit.

Mon, 10/08/2012 - 15:02 | 2868857 Mercury
Mercury's picture

At least he's now reminding us that subsistence labor is the future.

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