• Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.
  • Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.

Average February Gas Price At All Time High; Follows Record January Gasoline Costs

Tyler Durden's picture




 

Since everyone is buying everything that is not nailed down, preferably with both hands, on massive margin if possible, and since the global reflation trade is on full bore following trillions in cheap money dumped by central banks to prevent another re-recession within the broader Depressionary downtrend (offset for the time being only courtesy of $7 trillion in consolidated central bank funny money), it only makes sense that following record January gasoline prices, that February would see an all time high in gas as well (a detailed breakdown can be found at the AAA's website). But fear not: as the laws of supply and demand have also been usurped by the Fed, as has common sense and basic economics, both these data points indicate that Q1 GDP will also come at an all time high, because the entire economy is now purely a reflection of Apple, which as noted previously is almost bigger than the entire retail sector by market cap, and today hit an all time high as well. In fact, we are now seeing a record in new all time highs across the spectrum (if not volume - shhhh about volume), it means that even as IBM just laid off another 1,000 North American employees, that the economy has never been better either.

February gasoline costs:

and January:

Charts courtesy of John Lohman

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Tue, 02/28/2012 - 17:18 | 2205624 battle axe
battle axe's picture

Bring on IRAN!!!! Horses for everyone.

Tue, 02/28/2012 - 17:27 | 2205659 Conrad Murray
Conrad Murray's picture

Post this quote on every page you can, every social media account you have:

"Somehow we have to figure out how to boost the price of gasoline to the levels in Europe"($8+/gal) - Steven Chu, Obama's Energy Secretary

Steven Chu's Europe gas quote haunts President Obama - http://www.politico.com/news/stories/0212/73138.html

And a Conrad Murray Top Tip, find the lowest gas price near you: http://www.gasbuddy.com/

Tue, 02/28/2012 - 17:32 | 2205692 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

Ohhhh, I can't wait for the record $5+ gas coming during the summer months. Thanks CBs everywhere.

Tue, 02/28/2012 - 17:33 | 2205697 Conrad Murray
Conrad Murray's picture

Bonus laughs: BoA + Chu = "Energy Secretary Steven Chu intervened last year to push forward a government loan guarantee for a $1.4 billion project backed by Bank of America Corp. to put solar panels on rooftops" - http://online.wsj.com/article/SB1000142405297020405980457722966133822182...

Tue, 02/28/2012 - 17:37 | 2205716 The Big Ching-aso
The Big Ching-aso's picture

 

 

"How many fingers, Winston?"

Tue, 02/28/2012 - 19:59 | 2206206 Acorn10012
Acorn10012's picture

"I want to see five...I really do."

Tue, 02/28/2012 - 17:52 | 2205789 Shocker
Shocker's picture

If this recovery picks up much more we will be around $6 a gallon.

Tue, 02/28/2012 - 19:52 | 2206183 The Big Ching-aso
The Big Ching-aso's picture

 

 

All aboard the $8/gal Chu-Chu train or you're gonna have to ride your bike to work.

Tue, 02/28/2012 - 17:37 | 2205715 scatterbrains
scatterbrains's picture

but it will be Iran's fault so no worries Oblahblah can still win with both Diebold and the banksters supporting him.

Tue, 02/28/2012 - 18:24 | 2205895 earleflorida
earleflorida's picture

"U.S. Voting Machines":  Sequoia and Diebold - Election System's and Software? ___ Voting machines in U.S. proven to have been extremely,... ? [10/26/04]

http://www.deepjournal.com/p/7/a/en/99.html

Tue, 02/28/2012 - 17:39 | 2205723 AbruptlyKawaii
AbruptlyKawaii's picture

keep the horses get me a gig at your job

Tue, 02/28/2012 - 19:05 | 2206065 Sid James
Sid James's picture

We are already paying $10 a gallon for diesel In the UK (£1.40 a litre).

Tue, 02/28/2012 - 17:34 | 2205700 Flakmeister
Flakmeister's picture

If we didn't have our collective heads up our asses when the last big Western finds, Prudhoe and the North Sea, were brought on-line we would be a lot better off now...

In the future, historians and people will gape in disbelief when they see how we burned our precious oil endowment...

Shelly's Ozymandius comes to mind....

Tue, 02/28/2012 - 18:00 | 2205820 DaveyJones
DaveyJones's picture

it's exactly like a substance addiction because it is a substance addiction. The tolerance and need keeps increasing, the rationale and mental health over buying, using and fighting over it deteriorates and the necessary steps to move beyond it get harder and harder to grasp 

Tue, 02/28/2012 - 18:13 | 2205878 tmosley
tmosley's picture

I think they will be a lot more amazed that we didn't burn our central bankers at the stake like they do.

http://www.tfmetalsreport.com/sites/default/files/users/u1246/oilpricing...

Tue, 02/28/2012 - 18:24 | 2205913 Flakmeister
Flakmeister's picture

Central or otherwise.... gotta agree

Check the last figure and get back to me...

http://www.theoildrum.com/node/8959

Tue, 02/28/2012 - 19:03 | 2206058 DaveyJones
DaveyJones's picture

Flak, you'll know this better than me, why do I keep recalling a lot of lectures saying 2012 / 13 is a shit hits the fan year?

Tue, 02/28/2012 - 19:09 | 2206083 tmosley
tmosley's picture

It's always a "few years" away.

Funny, I was scrolling through old TV programs on Netflix and found one of those old "end of the world" shows that used to lay every now and then.  I remembered watching it on TV when it first aired in 1993.  They concluded the world was going to end in 1995.

To think, we've all been living in a post-apocalyptic world for almost 20 years and didn't even know it.

Tue, 02/28/2012 - 19:25 | 2206129 Flakmeister
Flakmeister's picture

My you are on a roll with the strawmen tonight...

 

Tue, 02/28/2012 - 21:13 | 2206372 tmosley
tmosley's picture

How is that a strawman?  All predictions of unending and eternal doom and damnation turn out that way.  You don't like it?  Stop making them.

Tue, 02/28/2012 - 21:59 | 2206487 Flakmeister
Flakmeister's picture

It certainly is...

You set up the strawman of me being a doomster, all previous doomsters being wrong, ergo I am wrong...

Tue, 02/28/2012 - 22:24 | 2206548 tmosley
tmosley's picture

So what, you DON'T profess that peak oil will be the doom of any and all economic growth forever, amen?

Tue, 02/28/2012 - 23:01 | 2206665 Flakmeister
Flakmeister's picture

Now you play with semantics...

You really do miss the PM trolls....So much so that you are now a troll in your own right...

Ciao for niao... 

Tue, 02/28/2012 - 23:43 | 2206686 tmosley
tmosley's picture

I see, you don't even want to answer.  Clearly because you examined your truthful answer and realized that it just looks terrible to any observer, so you pretend to "take the high road" and bug out like a coward.

I will remember this.

Wed, 02/29/2012 - 00:02 | 2206844 Flakmeister
Flakmeister's picture

Continued from the other thread:

The difference between you and I is as follows: In technical matters, I make sure that I am informed about something before posting on it. This allows me to make factual statements and in the presence of a real expert to put myself in a position to ask pertinent questions...

Whereas you literally type bullshit as fast as you can, e.g. your classic "dissolve oil"...  

Your arguments rely on the use ad hominems and strawman...Sure, I use Ad Homs only after blowing away the Strawmen like the big bad wolf...

You are too intellectually lazy to at least inform yourself first in the most cursory of ways about 1/2 of the shit you type up... and it shows every time....

You are a clown and now you are a troll....

And you know what they say about trolls....

Wed, 02/29/2012 - 00:45 | 2206933 tmosley
tmosley's picture

What, they lie and pretend to be superior while ignoring the arguments of others in the thread?  Yes, that is what trolls do, troll.

Nice job on ignoring my arguments AGAIN.

Wed, 02/29/2012 - 00:49 | 2206939 Flakmeister
Wed, 02/29/2012 - 00:16 | 2206873 Flakmeister
Flakmeister's picture

Hey DJ...

They could hold this plateau for C+C a few more years... IIRC,  The DOD, the Bundeswehr and the "secret" U.K. Parliment report point to 2014-2015....

I think the IEA once made highly qualified noises about 2012-2013....

In any event the falloff will likely be slow at first but there is reason to believe it could accelerate...

A lot depends on what the real potential of Iraq is and how fast they ramp it up....

Wed, 02/29/2012 - 02:06 | 2207007 Pinto Currency
Pinto Currency's picture

 

Flak,

 

That may have been a plan.

 

The internet is the game changer and many, many are watching in stunned disbelief as our central (bank) planners destroy our currency and governments launch us on a string of wars inflaming the world. 

 

The markets are not as stupid as many central planners in their vanity may believe and it looks like they (the markets) aren't hanging around much longer.

 

Commodities and the stock market are going to replace the bond market.

Tue, 02/28/2012 - 22:05 | 2206495 Sizzurp
Sizzurp's picture

Interesting to see total liquids at an all time production high in Jan. , but as they pointed out, things are not always as they seem. When you look at rising population, declining net exports, and falling EROI, then the higher prices start to make more sense.  The fact that the central bankers are going bat shit crazy on the money printing doesn't hurt prices either.  The C&C number is the critcal one IMO, and that is a flat line since 2005. When C&C starts to fall, the EROI effects are going to start hitting hard on prices and economic growth, but I get the feeling nobody will understand why.

Tue, 02/28/2012 - 23:02 | 2206672 Flakmeister
Flakmeister's picture

Yes, that is what the graphs say...

Tue, 02/28/2012 - 23:41 | 2206779 DaveyJones
DaveyJones's picture

yup

Tue, 02/28/2012 - 17:34 | 2205705 Silver Bug
Silver Bug's picture

We ain't seen nothing yet... 

 

http://ericsprott.blogspot.com/

Tue, 02/28/2012 - 17:51 | 2205777 NotApplicable
NotApplicable's picture

How much do you get paid per post, and how much do you donate back to Tyler?

Tue, 02/28/2012 - 21:03 | 2206349 Iconoclast
Iconoclast's picture

Simple, add 85% taxes, it 'works' for us...we just love it..

Tue, 02/28/2012 - 17:41 | 2205731 JPM Hater001
JPM Hater001's picture

Very bullish for Bikes and Appalossa.

Tue, 02/28/2012 - 17:46 | 2205753 Translational Lift
Translational Lift's picture

Don't you at least have to be a High School graduate to be head of DOE??

Bunch a dumbfucks...........

Tue, 02/28/2012 - 17:48 | 2205764 Flakmeister
Flakmeister's picture

Yep... Didn't W. want to make Ken Lay (of Enron fame) his DOE guy?

Now that would have been great!

Tue, 02/28/2012 - 17:20 | 2205626 Christoph830
Christoph830's picture

"Temporary"

- B. Bernanke, 3-2-2011

Tue, 02/28/2012 - 17:23 | 2205656 tekhneek
tekhneek's picture

Everyone knows that it's because we're in a recovery and employment's picking back up.

See Cdad's post below.

Tue, 02/28/2012 - 17:25 | 2205661 Pinto Currency
Tue, 02/28/2012 - 17:27 | 2205673 BoNeSxxx
BoNeSxxx's picture

I picked a bad week to stop sniffing glue...

Tue, 02/28/2012 - 17:26 | 2205670 I think I need ...
I think I need to buy a gun's picture

GROWTH BITCHEZ

Tue, 02/28/2012 - 17:36 | 2205707 bdc63
bdc63's picture

"Temporary"

... and he'll probably try to say the same thing tomorrow ... he might even get away with it if Ron Paul isn't around to shut him down ...

 

Tue, 02/28/2012 - 17:18 | 2205627 YesWeKahn
YesWeKahn's picture

Just lay off every working person, lets run companies with Robots.

Tue, 02/28/2012 - 17:25 | 2205665 Moneyswirth
Moneyswirth's picture

Yes---maximum efficiency and 99.9% productivity...

Tue, 02/28/2012 - 17:30 | 2205687 DaveyJones
DaveyJones's picture

the other 99%

Tue, 02/28/2012 - 17:36 | 2205714 Jumbotron
Jumbotron's picture

LOL !

Soylent Green.....it's the other 99%

Tue, 02/28/2012 - 20:03 | 2206214 Acorn10012
Acorn10012's picture

Soylent Green...the other white meat!!!

Tue, 02/28/2012 - 23:04 | 2206680 Jumbotron
Jumbotron's picture

(In the voice of Sam Elliot)

Soylent Green....it's what's for dinner.

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