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On This Day In History, Gas Prices Have Never Been Higher

Tyler Durden's picture





 

Between Hess' plant closing and scheduled maintenance, the squeeze appears to be on the refining space and wholesale gasoline prices are smashing higher. Along with flares in geopolitical risk (Ankara today and Israel/Syria earlier in the week) driving underlying crude prices,  Gas prices (at the pump) are surging - to record highs for the first week of February as per AAA, hitting an all time high of $3.465 for this day and just surpassing last year's price of $3.455; and based on where wholesale prices are (given the lag), we could be seeing $4.00 gas at the pump in the next few weeks.

 

 

as Wholesale Gasoline prices rise at their fastest in almost two years...

 

and with Crude prices rising and wholesale gasoline being squeezed, could retail prices push back above $4.00 again?

 

Charts: Bloomberg

 


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Fri, 02/01/2013 - 12:33 | Link to Comment Osmium
Osmium's picture

High gas prices are sure to jump start the eCONomy

Fri, 02/01/2013 - 12:41 | Link to Comment Say What Again
Say What Again's picture

BULLISH

DOW to 15,000 and beyond!

Fri, 02/01/2013 - 12:53 | Link to Comment Fukushima Sam
Fukushima Sam's picture

Wow, and we're still coming off the effects of the Obama administration's election-time oil price manipulation scheme.

Fri, 02/01/2013 - 12:58 | Link to Comment Thomas
Thomas's picture

Thank god inflation is tame.

Fri, 02/01/2013 - 13:05 | Link to Comment Buckaroo Banzai
Buckaroo Banzai's picture

Yay cripplingly high gas prices crushing the working poor! That's what you get when you think you are too good for food stamps, Section 8 housing, SSDI, WIC, and Medicaid!!! TAKE THAT!

Fri, 02/01/2013 - 13:11 | Link to Comment Joe Davola
Joe Davola's picture

Time to ratchet up the gas taxes!

Fri, 02/01/2013 - 13:23 | Link to Comment sotto
sotto's picture

Thanks Bernanke and company.  Here's what you have done:  http://economiccollapsenews.com/

Fri, 02/01/2013 - 13:58 | Link to Comment BeerBrewer09
BeerBrewer09's picture

Duh. They print like their shit don't stink.

Fri, 02/01/2013 - 13:38 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

.

Time to ratchet up the gas taxes!

Time to break out the West Virginia credit card!*

*five-gallon can and a siphon hose

Fri, 02/01/2013 - 14:32 | Link to Comment JohnFrodo
JohnFrodo's picture

Thats a good one got to be good for the economy raising the smile index.

Here are a couple of others

Scarbourgh Suitcase - 12 pack of beer

Toronto Tuxedo - red and black plaid lumberjack jacket

 

 

Fri, 02/01/2013 - 13:31 | Link to Comment otto skorzeny
otto skorzeny's picture

I'm sitting behind this pizza delivery guy at the stoplight yesterday and thinking-how can this guy be making ANY $ w/ gas at $3.75 a gallon if it takes you a gallon to get to the delivery and a gallon to get back-I mean the guy wasn't driving a Prius

Fri, 02/01/2013 - 16:42 | Link to Comment quasimodo
quasimodo's picture

Hopefully he had half a dozen pies and gets tipped well. Around here someone was driving a fucking Yukon Denali delivering pizza last week, yeah....the Denali with the 6 liter gas drinking bitch of a V-8. I am going to take a stab here and guess the driver is not that smart.

Fri, 02/01/2013 - 13:43 | Link to Comment Freddie
Freddie's picture

Hope & Change.

Fri, 02/01/2013 - 13:47 | Link to Comment derek_vineyard
derek_vineyard's picture

Inflation is/was the goal.  Asset classes have gotten ahead of themselves in the rush to avoid 'eating the inflation', but wage earners are losing ground daily.  The net result will be a lower standard of living for the median person in the developed world.

Fri, 02/01/2013 - 13:02 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

I have no idea what gasoline and crude prices will do in the near future.  But, I can see that Obama clearly does not care about actually, ahh, creating more production.  I do understand that the whole energy problems we have (of course) depend on much more than short-term drilling.

But, in looking at this problem of high gasoline prices, I always come back in my thinking to GOLD.  If I have to pay more for a tank of gas and if that affects my other spending, too damn bad.  I will just keep buying physical gold, "poco a poco", and that will take care of any heartburn I have re high energy prices.

Fri, 02/01/2013 - 13:27 | Link to Comment tango
tango's picture

My only problem with gold is the huge price it may bring.   I can't see paying $5K for a loaf of bread.  Silver seems much the better bargain considering it is nowhere near the historical 15-1 gold/silver ratio.  And of course Obama does not care about anything but fairness and redistrbution.  He is the least interested President in history when it comes to how wealth is produced.

Fri, 02/01/2013 - 14:42 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

1/10th oz Eagles help solve that.  I own silver and platinum too.  PM diversification is great!

Fri, 02/01/2013 - 14:50 | Link to Comment Stuntgirl
Stuntgirl's picture

I talked to some old people in spain about the problem of commerce with high value gold coins.

They told me that it was normal to run a household on store credit or pay up front for a month's supplies deliverable everyday.

An example would be that it'd be normal to pay your baker or grocer or milkman on day 1 of the month for one loaf of bread daily delivery. Paying after one month of delivery was also normal.

Fri, 02/01/2013 - 12:59 | Link to Comment Enslavethechild...
EnslavethechildrenforBen's picture

Recovery!

Everyone I talk to is positive about the economy. There is no inflation and jobs are picking up. With healthcare costs at their lowest in history, we are entering a new golden age.

(Sarcasm)

Fri, 02/01/2013 - 13:30 | Link to Comment Never One Roach
Never One Roach's picture

Agree. Inflation is tame this year. My health insurance premiums up only 12%.,.....dark chocolate uponly 8%....gas up....postal fees up over 6% (for international shipments)....and so on....

Fri, 02/01/2013 - 14:51 | Link to Comment _ConanTheLibert...
_ConanTheLibertarian_'s picture

You mean golden shower

Fri, 02/01/2013 - 13:14 | Link to Comment Woodyg
Woodyg's picture

Bullish Drinking Water!
Especially adding in the Frack Attack on water sources.

I pay $140 for 2 months of water in Oregon where it reains every freaking day andthe water out of the tap is so bad you can't drink it!

So then I get to buy filtered water good enough for drinking for 35 cents a gallon.
Frack Me!

Fri, 02/01/2013 - 15:10 | Link to Comment lincolnsteffens
lincolnsteffens's picture

You are fracked because you don't have a brain in your skull. If you get a water filter for

your kitchen faucet it only costs 5-10 cents a gallon. If you get one of those old fashioned

ceramic filters you can just collect rain water to filter (opps maybe that doesn't filter out

radio active particles, check first). If you have that much rain water get a big storage

tank to supply your household needs and disconnect from the town water.  It is expensive

but ever look into drilling your own well, assuming you have enough land and space

to drill.

 

Don't be a victim. Think outside the box

 

Fri, 02/01/2013 - 16:26 | Link to Comment Temporalist
Temporalist's picture

The govt doesn't like it when you steal their water.

http://www.naturalnews.com/029286_rainwater_collection_water.html

Fri, 02/01/2013 - 12:46 | Link to Comment AlaricBalth
AlaricBalth's picture

In April 2011, Ben Bernanke said the increases in food and gas prices would be transitory. The only transitory thing I see is the purchasing power of the middle class, as an increasing amount of dollars is needed for basic essentials.

Fri, 02/01/2013 - 12:56 | Link to Comment blabam
blabam's picture

Deflation bitchez!

Fri, 02/01/2013 - 13:10 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

@ Alaric and blabam, + 1 guys!

"Transitory Deflation" my azz.  

As our stupid energy policies (leaving aside stupid economic policies) kick in, we have a grim future ahead.  Who knows if ANYONE could fix it...  But, we have Four More Years which will NOT fix anything.  Au contraire.

"Barack and Francois, up in a tree....."

Fri, 02/01/2013 - 12:35 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Nicely done. The conditioning is almost complete. Push gas above $4 for a while, then drop it back down again so people feel relieved. Then use any excuse in the book to push it back above $4 and leave it there. The new normal is here.

But there is no inflation......ever. Cus we don't count no stupid gas and food.

 

Fri, 02/01/2013 - 12:37 | Link to Comment Dr. Richard Head
Dr. Richard Head's picture

Well, there is an inflation taget of the Fed.  The problem is the target happens to be for everything us plebes use.  Of course, Vasoline prices are skyrocketing because of demand for less sphincter breakage due to bankster anal raping, so that is more a supply and demand situation rather than money supply situation.

Fri, 02/01/2013 - 12:38 | Link to Comment smlbizman
smlbizman's picture

their is no inflation........if you have no money to spend......

Fri, 02/01/2013 - 12:46 | Link to Comment Umh
Umh's picture

We also need to remember that the gas has been diluted with alcohol.

Fri, 02/01/2013 - 15:14 | Link to Comment tip e. canoe
tip e. canoe's picture

courtesy of corn grown due to a subsidy by the FedGuv.

Fri, 02/01/2013 - 12:36 | Link to Comment Voice_Of_Unreason
Voice_Of_Unreason's picture

The price of gas is not going up. The value of the dollar is going down.

Fri, 02/01/2013 - 12:52 | Link to Comment Enslavethechild...
EnslavethechildrenforBen's picture

A piece of paper has never been worth any more that the value of a piece of paper.

What is happening is that the world is starting to come out of their stupor.

Gas for Silver Dollars at the pumps Bitchez

Fri, 02/01/2013 - 13:23 | Link to Comment aerojet
aerojet's picture

Okay, but the price of a gallon up here in my neck of the woods shot to almost $4/gal last year, then recently tanked all the way back to 2.82 a couple of weeks ago, and now we're back to the $3.50 range almost overnight. 

Fri, 02/01/2013 - 13:44 | Link to Comment otto skorzeny
otto skorzeny's picture

I was at the station(midwest-blue collar town) last night and as I was looking around at the other pumps most people were putting exactly $20 in their tanks instead of filling up-so either these people all work for GS and know the price of gas will drop rapidly next week-OR THEY'RE ALL FUCKING BROKE

Fri, 02/01/2013 - 15:48 | Link to Comment ChrisDG74
ChrisDG74's picture

Midwest?

No doubt you were in a Greedway, er, Speedway-controlled state. Our prices are up an average of over 50 cents a gallon since Tuesday. Some are up over 80 cents since then, with another jump coming in the next few days.

Fri, 02/01/2013 - 13:43 | Link to Comment DaveyJones
DaveyJones's picture

Both and they're related. Money only represents real stuff. Oil is the ultimate stuff. As it gets harder to get, the debt economy ignorantly betting on endless expansion goes through cycles of collapse. The price of ultimate energy rides the roller coaster that nevertheless climbs higher as the EROEI nevertheless goes lower. Like the naked truth of gold, add to this the desperate need to manipulate the price but, like gold, the effort is ultimately futile.  The criminal idiots in charge then add fuel to the fire by expanding money supply in sick creative ways   

Fri, 02/01/2013 - 12:37 | Link to Comment Inthemix96
Inthemix96's picture

$4,00 dollar gas?

You lot dont know how fucking lucky you are.  We pay the equivalent of just under $12,00 gas here.

Over here its us stupid fuckers who eat cake.

Fri, 02/01/2013 - 12:47 | Link to Comment Uskatex
Uskatex's picture

Here in Italy the price is about 1.8 euros/lt, that is about 9.2 $ /gal. 

More than 50% of the price are taxes. However, traffic is still intense (lower than 2 years ago, though).

Fri, 02/01/2013 - 12:50 | Link to Comment Dr. Engali
Dr. Engali's picture

I thought you guys ate fish and chips.

Fri, 02/01/2013 - 12:53 | Link to Comment Inthemix96
Inthemix96's picture

Jellied Eels doc,

Jellied eels.  And pork faggots.  Lots and lots of pork faggots.  And tripe.

:-)

On top of cake mind.

Fri, 02/01/2013 - 13:09 | Link to Comment Pure Evil
Pure Evil's picture

What part of the pig is the faggot?

Fri, 02/01/2013 - 13:15 | Link to Comment Inthemix96
Inthemix96's picture

The middle bit of the brain, the Poofter gland.

:-)

Fri, 02/01/2013 - 13:26 | Link to Comment Spastica Rex
Spastica Rex's picture

Are the faggots smoked?

Fri, 02/01/2013 - 13:27 | Link to Comment DaveyJones
DaveyJones's picture

what do they do with the butt ends?

it must be Friday

Fri, 02/01/2013 - 13:31 | Link to Comment Inthemix96
Inthemix96's picture

Stub them out.

I think it is davey, I think it is.

Crack on mate and smile.

;-)

Fri, 02/01/2013 - 13:30 | Link to Comment Inthemix96
Inthemix96's picture

I think so,

The last one I had tasted like marlboros light.

Fri, 02/01/2013 - 13:31 | Link to Comment otto skorzeny
otto skorzeny's picture

you mean like w/ an AK?

Fri, 02/01/2013 - 13:37 | Link to Comment Dr. Engali
Dr. Engali's picture

I laughed so hard that I just about peed myself .

Fri, 02/01/2013 - 17:57 | Link to Comment SilverRhino
SilverRhino's picture

I'm sure there are white and yellow pork faggots in addition to smoked.

Fri, 02/01/2013 - 13:36 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

Inthemix96 said:

Jellied Eels doc,

Jellied eels.  And pork faggots.  Lots and lots of pork faggots.  And tripe.

:-)

On top of cake mind.

Quite a dazzling variety there, I must say.

One thing I've been wondering about: what's all this about spotted dick?

Fri, 02/01/2013 - 16:32 | Link to Comment Temporalist
Temporalist's picture

Get that checked out.

Fri, 02/01/2013 - 12:53 | Link to Comment Whiteshadowmovement
Whiteshadowmovement's picture

We pay California prices here in South Africa about $5 per gal.

The gov. fixes the price once per month and every petrol retailer here is obligated to charge the same price.

Fri, 02/01/2013 - 13:04 | Link to Comment Navymugsy
Navymugsy's picture

Damn, I don't feel so bad about paying $7 a gallon (Cyprus) now.

Fri, 02/01/2013 - 18:53 | Link to Comment VelvetHog
VelvetHog's picture

96 your humor (humour) (and your 1970's porn star mustache) are much appreciated.

Fri, 02/01/2013 - 12:36 | Link to Comment Big Swinging Richard
Big Swinging Richard's picture

Tyler, Please overlay gas prices and the SPX.  I can't wait for the "Summer of Recovery" to coincide with another peak driving season.

 

BSD

Fri, 02/01/2013 - 13:05 | Link to Comment Big Swinging Richard
Big Swinging Richard's picture

Alaric,

Thanks for the chart.  I remember the good old days when I could fill up my Suburban for $50.  Now I have to take out a loan when going to the gas station.

BSD

 

Fri, 02/01/2013 - 13:26 | Link to Comment AlaricBalth
AlaricBalth's picture

The good old days? My mom had a 1975 Ford Country Squire station wagon. I would load 6 friends into it with our surfboards, hit them each up $2.00 for gas, and that $12.00 would practically fill up the tank. It was the true "Endless Summer".

Hope the chart helped. FRED is a good source for charting different scenarios.

Fri, 02/01/2013 - 14:11 | Link to Comment Frank N. Beans
Frank N. Beans's picture

endless summer, a great movie, understated and droll

Fri, 02/01/2013 - 13:04 | Link to Comment Navymugsy
Navymugsy's picture

"Summer of Recovery"="Summer of Love"

Fri, 02/01/2013 - 13:31 | Link to Comment DaveyJones
DaveyJones's picture

now we just have summers of incest

Fri, 02/01/2013 - 12:38 | Link to Comment LongSoupLine
LongSoupLine's picture

Fuck you Bernanke.

 

May you burn in a fucking gas explosion while filling your fucking goldman paid-for car.  Fucker.

Fri, 02/01/2013 - 13:41 | Link to Comment LFMayor
LFMayor's picture

LOL!  You mad, brah?

Fri, 02/01/2013 - 14:58 | Link to Comment _ConanTheLibert...
_ConanTheLibertarian_'s picture

Ah, that's so mean, he has just a little Ford Focus. ;-)

Fri, 02/01/2013 - 12:41 | Link to Comment roadhazard
roadhazard's picture

Somebody just got a job at McDonalds... KA CHING !

Fri, 02/01/2013 - 12:44 | Link to Comment ebworthen
ebworthen's picture

Another manipulation/rotation to make money for Wall Street and fuck over real people.

Went up over .50 cents in less than a week locally, that is too fast for "fundamentals" or "markets".

Fri, 02/01/2013 - 12:44 | Link to Comment vote_libertaria...
vote_libertarian_party's picture

High energy...it's gooder for the economy!!!!

 

(especially if you import the stuff)

Fri, 02/01/2013 - 12:44 | Link to Comment Dr. Engali
Dr. Engali's picture

Two days ago gas was $3.21 a gallon. Today it is $3.79. WTF happened in two days? Did we attack Iran and I slept throught it?

Fri, 02/01/2013 - 12:52 | Link to Comment fonzannoon
fonzannoon's picture

gold dropped 12 bucks this am while i urinated. anything's possible.

Fri, 02/01/2013 - 13:39 | Link to Comment DaveyJones
DaveyJones's picture

I hate it when I piss away my profits

Fri, 02/01/2013 - 13:49 | Link to Comment Dr. Engali
Dr. Engali's picture

+1

Fri, 02/01/2013 - 13:41 | Link to Comment DaveyJones
DaveyJones's picture

Don't you remember, Hollywood and Wall Street have merged. THe special effects take trillions but sometimes look realistic.

Fri, 02/01/2013 - 14:48 | Link to Comment Blano
Blano's picture

Where you at Doc?

Fri, 02/01/2013 - 12:45 | Link to Comment swissaustrian
swissaustrian's picture

DOW is also just 70 points away from it's all time closing high from 2007:

http://www.pmbug.com/forum/f9/dow-s-p500-nearing-all-time-highs-2007-a-2...

Fri, 02/01/2013 - 12:54 | Link to Comment Dr. Richard Head
Dr. Richard Head's picture

So the buy and hold strategy would work out with an 11% drop based on the fraudulent CPI inflation adjustments alone.  DOW should be 15,684 just to keep up with government stated inflation, let alone real inflation rates.  Carry on.

Fri, 02/01/2013 - 14:45 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

But, smart (lucky) market timers who bought in Feb 2009 are up about 100%.  Alas, I am not in that group.  I do suspect that the time to sell stocks is coming very soon.  

Correct re inflation, inflation distorts all the headline numbers.

Fri, 02/01/2013 - 12:46 | Link to Comment francis_sawyer
francis_sawyer's picture

Smells like Bibi to me...

Fri, 02/01/2013 - 13:17 | Link to Comment j0nx
j0nx's picture

Smells like a weak dollar caused by massive QE to me. Seen the EURUSD spread lately?

Fri, 02/01/2013 - 12:47 | Link to Comment topspinslicer
topspinslicer's picture

Someone send info on benny's security detail, thanks

Fri, 02/01/2013 - 12:49 | Link to Comment Rusty Shorts
Rusty Shorts's picture

On this day in History...

http://www.youtube.com/watch?v=aIJiW8d_c68

Fri, 02/01/2013 - 12:50 | Link to Comment Seasmoke
Seasmoke's picture

What goes UP is always much faster and higher , than what comes down

Fri, 02/01/2013 - 12:49 | Link to Comment Inthemix96
Inthemix96's picture

The day will come when we pick up the daily paper and read the headline:-

"Bersnank, SHOCK, Federal Reserve Head Found Dead!!!.  Peeled Alive With A Blunt Potatoe Peeler.  Took 16 Horrific Hours For Poisened Dwarf Too Die.  Source Reveals, He Died In Fucking Agony, Screaming Like A Fucking Pig.  Nurses Used "Neat" Iodine On Open Wounds, Only Prolonged The Shear Torture Bernanks Went Through, Not A Touch Of Skin Left On Tiny Mans Body"

Now thats a headline worth reading folks

Fri, 02/01/2013 - 13:02 | Link to Comment Dr. Engali
Dr. Engali's picture

Peeled alive with a blunt potato peeler? Your imagination is way to scary for me.

Fri, 02/01/2013 - 13:07 | Link to Comment Inthemix96
Inthemix96's picture

The forced removal of guns here doc has led to folk imagining how long we can PROLONG the fuckers death mate.

No easy one shot solution here friend, these fuckers is gettin peeled.

And I was exposed to trauma as a child.....

;-)

Fri, 02/01/2013 - 13:10 | Link to Comment Dr. Engali
Dr. Engali's picture

LOl that's funny. After I wrote that I thought...well they don't have guns, maybe that's the difference.

Fri, 02/01/2013 - 13:15 | Link to Comment Inthemix96
Inthemix96's picture

When I first left school I worked at a fish processing plant and my first gift was a 12" Filleting knife.

Japanese steel, not a half an inch wide.  If push comes to shove, I am A fucking expert at filleting.  And if I buy some fava beans and a nice chianti.

Game fucking on mate.

Fri, 02/01/2013 - 12:55 | Link to Comment firstdivision
firstdivision's picture

If you're comparing historical prices, shouldn't one inflation adjust to get a true apples to apples?

Taking into account the ROC, looks as if prices will actually be falling.

Fri, 02/01/2013 - 12:52 | Link to Comment ebworthen
ebworthen's picture

"This is all about building street cred for equities again..."

Brian Belski on CNBC - Chief Investment Strategist for BMO Capital Markets.

Laying out the need to propagandize a new generation of "investors", how to convince them (fool them) that the markets are not a rigged casino.

Absolute bullshit spewing from this guy; "U.S. is exquisitely positioned..." (yes, he said "exquisitely").

Joseph Goebbels is in Hell grinding his teeth and pounding sulfur with jealousy.

Fri, 02/01/2013 - 12:55 | Link to Comment NoWayJose
NoWayJose's picture

Toss in higher gas prices, that 2% smaller paycheck, more part-time jobs for older workers, and consumers are not going to be leading this economy anywhere.  Toss in higher capital gains taxes, escalating Obamacare costs, and higher cost to businesses for gasoline, and they won't be hiring anyone anytime soon.

I'll be glad to see $4.00 gasoline - all it means is that the economic bubble will go POP that much sooner.

Fri, 02/01/2013 - 13:09 | Link to Comment Dewey Cheatum Howe
Dewey Cheatum Howe's picture

And in semi-related news concerning food inflation. When Burger King says have it your way can you request horsemeat free patties on your Whopper?

http://www.dailymail.co.uk/news/article-2271440/Burger-King-admits-selli...

Burger King admits it has been selling beef burgers and Whoppers containing horsemeat
  • Fast food chain has faced allegations of orchestrating a cover-up
  • Fast food chain had earlier assured its products were not involved
  • Processing company Silvercrest has been using non-approved ingredients
  • Aldi today admitted burgers sold through UK stores probably contaminated

 

The same company also made tainted burgers for Tesco, Asda and the Co-op, among others.

 

Someone might want to find a customer list for Silvercrest foods....

 

And the irony of all this from Silvercrest's homepage.

http://www.abpfoodgroup.com/divisions/abp-convenience-foods/our-companie...

 

"At Silvercrest we produce the highest quality frozen beef, lamb and pork burgers and grillsteaks at our high technology plant. Our customers include major leading retailers and foodservice companies in Ireland, England and across Europe.They serve the discerning customer who demand quality, taste and the assurance of rigorous food safety standards."

 

I wouldn't call anyone who eats Burger King a description of the above statement regardless of horsemeat and so much for all that high technology keeping horsemeat out of the consumer food chain.

Fri, 02/01/2013 - 12:57 | Link to Comment Frank N. Beans
Frank N. Beans's picture

seems like gas prices always dip into the Christmas retail season (so people have money to buy stuff in the stores?).

then right afterwards they jack up the gas price

Fri, 02/01/2013 - 12:59 | Link to Comment khakuda
khakuda's picture

Everything goes higher when you debase the currency by $85 billion per month.

Fri, 02/01/2013 - 13:08 | Link to Comment Village Smithy
Village Smithy's picture

Yes, and since the debasement was ramped up in 2009, higher gas prices are the only thing that has been able to wake the sheeple from their sleep. Maybe the pact that the Fed had with the oil companies has come apart and we will finally get a true picture of the disaster that $85 billion per month is creating. I will happily $4 per if it brings this Ponzi down and we can rebuild. 

Fri, 02/01/2013 - 13:34 | Link to Comment Lukacko
Lukacko's picture

If it's able to get some of these fuckers off the road, and I'm not in stop and go traffic on the highway to and from work everyday for an hour+, higher gas prices could be a wash for me.

Fri, 02/01/2013 - 14:07 | Link to Comment madcows
madcows's picture

No.  They democrats keep telling me its the bad oil companies that are causing it.

Fri, 02/01/2013 - 13:00 | Link to Comment dcb
dcb's picture

It's a good thing the price of gas doesn't count toward inflation, because otherwise therise in the price of gas would mean we have inflation

Fri, 02/01/2013 - 13:03 | Link to Comment JustPrintMoreDuh
JustPrintMoreDuh's picture

$4/gallon or 20 cents in "junk" silver ... just sayin.

Fri, 02/01/2013 - 13:04 | Link to Comment Dr. Engali
Dr. Engali's picture

Which is funny because if you went back to when we last minted silver coins that 20 cents in junk silver would have bought you one gallon of gas....go figure.

Fri, 02/01/2013 - 13:32 | Link to Comment NidStyles
NidStyles's picture

Which is why I asked what I did below, whether this was actually adjusted for real inflation or not.

Fri, 02/01/2013 - 13:55 | Link to Comment Stuntgirl
Stuntgirl's picture

With you there. I scrolled down to see the same chart adjusted for real inflation.... and it wasn't there.

Fri, 02/01/2013 - 13:11 | Link to Comment Shizzmoney
Shizzmoney's picture
In 2030, Games Won’t Fight Over Oil. They’ll Fight Over Bread.

I'm speaking of Global Trends 2030: Alternative Worlds, published by the National Intelligence Council, a part of the Office of the Director of National Intelligence, which oversees the CIA and other spy agencies.

Global Trends 2030 is the U.S. intelligence community's forecast of where the world will be 17 years from now.

Whether American policy-makers will bother to heed these forecasts is another matter, but why shouldn't game designers (and taxpayers) take advantage of it?

Because a trend that is significant enough to interest the CIA is probably big enough to warrant a plot point in a game. For example, in strategy games as in real life, stronger nations tend to crush weaker nations. But the report predicts the spread of "disruptive technologies," such as cyberwarfare, biological weapons and guided weapons (as Israel discovered in 2006 when terrorist group Hezbollah nearly sank one of its warships with a Chinese-made missile). While we aren't likely to see a Red Dawn scenario where North Korean troops invade San Francisco, new technologies will enable smaller powers such as Iran or North Korea to inflict disproportionate damage. This is bad news for the United States, but good news for game designers who want to create an interesting David vs. Goliath game.

For nearly a century, we have become accustomed to thinking of oil as the natural resource that nations fought, schemed and subverted to gain.

This is why oil is often the biggest prize in strategy games.

Yet the DNI study also notes that demand for food and water is expected to soar by about 40 percent by 2030, with nearly half the world's population living in areas short of water. Thus global population growth may make rivers and lakes as valuable as oil (sort of like Ice Pirates).

So perhaps arable land or water resources should be the key resource in strategy games. Or, maybe the plot of a shooter game has the hero fighting to save a nation that exports water instead of oil. And speaking of oil, fracking will turn the U.S. into an energy exporter instead of importer. Red Dawn is as paranoid as a voice in the head, but instead of America fighting for foreign oil, foreign nations may be fighting for ours.

Fri, 02/01/2013 - 13:13 | Link to Comment j0nx
j0nx's picture

Hope. Change. EOL.

Fri, 02/01/2013 - 13:27 | Link to Comment haskelslocal
haskelslocal's picture

Keeping with the ZH macro theme...

Isn't this simply the warming toad stuck comfortably in the pot prior to boil?

Trickle trickle trickle said the water boarding agent. You're not "actually" drowning, it just feels like it.

Let's create a reason within a lie to pretend there's another thing that makes you pay more for a lotta stuff.

Or....

It's called QE silly.

 

 

Fri, 02/01/2013 - 13:29 | Link to Comment NidStyles
NidStyles's picture

So did anyone adjust for real inflation, or the BS Core CPI?

Fri, 02/01/2013 - 13:35 | Link to Comment Never One Roach
Never One Roach's picture

Quit bitching about gas prices in the USA ! I just got back from SK where gas was $8 a gallon !! A humble dinner was $10 bucks per person not including tips.....USA is still very cheap compared.

Fri, 02/01/2013 - 15:00 | Link to Comment edifice
edifice's picture

Agree. Gas is very cheap in the United States, when priced in anything other than dollars. It should be $6 or $7/gal.

Fri, 02/01/2013 - 13:38 | Link to Comment dbTX
dbTX's picture

Can anyone tell me the real reason diesel is more expensive that gasoline?

Fri, 02/01/2013 - 13:41 | Link to Comment ekm
ekm's picture

It's for trucks, transportation. People have reduced driving, hence less demand for gasoline.

Fri, 02/01/2013 - 13:43 | Link to Comment A. Magnus
A. Magnus's picture

My guess would be that's what all the military hardware runs on, and they're moving all kinds of equipment these days...

Fri, 02/01/2013 - 14:40 | Link to Comment JohnFrodo
JohnFrodo's picture

To stop the movement to diesel vehicles. Jet Fuel A and diesl fuel are essentialy the same. Breakthroughs in Bio Diesel are happening everyday. We can not have a consumer market for diesel.

Fri, 02/01/2013 - 16:07 | Link to Comment NidStyles
NidStyles's picture

Can't have competition it would breakup the D.C. cartels.

Fri, 02/01/2013 - 16:06 | Link to Comment NidStyles
NidStyles's picture

Taxes, that is the honest reason for it.

Sat, 02/02/2013 - 00:24 | Link to Comment RebelDevil
RebelDevil's picture

Well, I do know that Fuel Oil and Diesel are both chemically and priced the same. So large uneccessary use of that hydrocarbon is another reason.

It's quite unfortunate that many still haven't switched their heating to electric or Natural Gas - it's a lose-lose situation in that scenario.

Fri, 02/01/2013 - 13:42 | Link to Comment AnAnonymous
AnAnonymous's picture

One could and can say that one cent up is one cent closer to the predicted day when 'americans', exhibiting once again their well renowned ingenuity, release on the world all those energy solutions they have been claiming to be able to develop.

The higher the gas price is, the closer this day is.

All hail the 'american' ingenuity, giving them the ability to overcome the environment.

'Americans' for the win.

Fri, 02/01/2013 - 14:39 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

AnAnonymous said:

All hail the 'american' ingenuity, giving them the ability to overcome the environment.

'Americans' for the win.

Have you been licking toads again?

Fri, 02/01/2013 - 13:44 | Link to Comment Gimp
Gimp's picture

Obamey - a man for the little people my __ __ __ (fill in blanks)

 

Fri, 02/01/2013 - 15:41 | Link to Comment ChrisDG74
ChrisDG74's picture

Up 82 cents a gallon since Tuesday, at the lower priced stations in town. Average jump has been 52 cents.

Fri, 02/01/2013 - 16:10 | Link to Comment toomanyfakecons...
toomanyfakeconservatives's picture

Kerosene baby!

Fri, 02/01/2013 - 16:30 | Link to Comment roadhazard
roadhazard's picture

Fuck that, kerosene has been at $4.60 for three years. Uber rip off.

Fri, 02/01/2013 - 17:32 | Link to Comment toomanyfakecons...
toomanyfakeconservatives's picture

But it does so many things that gasoline only wishes it could do.

Fri, 02/01/2013 - 16:44 | Link to Comment quasimodo
quasimodo's picture

Good news comrades! The ministry of plenty has just announced the ration of victory chocolate has been increased to 25 grams per week! This will help alleviate the pain at the pump!

Fri, 02/01/2013 - 17:47 | Link to Comment DaveGillie
DaveGillie's picture

REAL Money is "gold/silver" according to Blacks Law Dictionary.
AND it buys more gas now than EVER.

Don't confuse a change in fiat money value with a price change!!!

Sat, 02/02/2013 - 00:12 | Link to Comment RebelDevil
RebelDevil's picture

Fuck this shit! If you haven't known, there's a shit load of mark-up and manipulation from crude up to unleaded at the pump, hence why Exxon and BP and others made RECORD PROFITS!

Keeping mark-up the same + money printing + bond bubble = People getting fucked over for having a neccesity; transportation.

Sat, 02/02/2013 - 17:25 | Link to Comment Tombstone
Tombstone's picture

Escalating gas prices, rising taxes, rising medical costs and more deficits....looks like a solid recovery is just around the corner...as declared by the government slaves (socialists) for the last 3 years.  Com'on Benny, crank that baby...

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