This page has been archived and commenting is disabled.

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

Tyler Durden's picture




 

Of course, we are sure this will not weigh on Bernanke's decisions in the next week or two but for all those who don't see inflation, courtesy of John Lohman, gas prices have never been higher during this third week of August. We remain flabbergasted that in the Wizard of Washington's recent defense of QE, there was no mention of record high gas prices as justification for it 'working' and it would appear that 'transitory' means something different than us mere un-omnipotent-beings can comprehend.

 

(h/t @Not_Jim_Cramer)

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Fri, 08/24/2012 - 18:38 | 2735666 FOC 1183
FOC 1183's picture

Just in time for QE Labor Day

Fri, 08/24/2012 - 18:44 | 2735685 Buckaroo Banzai
Buckaroo Banzai's picture

WE DID IT!!!!!

Fri, 08/24/2012 - 18:51 | 2735713 Tijuana Donkey Show
Tijuana Donkey Show's picture

We had help doing it, we didn't build these prices by ourselves, other people helped, like speculators, OPEC, the Chinese, the Syrians, the Iranians, they all helped. The only way this could be more insulting is if we mandated higher gas prices by using food additives, and caused food to rise as well. Imagine how insulting that would be, our tax debt(dollars)  funding something like that. Thank god I live in America.

Fri, 08/24/2012 - 18:57 | 2735735 Spastica Rex
Spastica Rex's picture

Food additives - like corn?

There's an idea....

Sat, 08/25/2012 - 08:11 | 2736573 GetZeeGold
GetZeeGold's picture

 

 

I'll have the gasoline nachos with extra cheese.

 

Throw some high octane Brawn-do in there.....it's what plants crave.

 

Fri, 08/24/2012 - 18:59 | 2735742 iDealMeat
iDealMeat's picture

+1,  Good Form.

Fri, 08/24/2012 - 19:06 | 2735764 francis_sawyer
francis_sawyer's picture

Gas, grass, or ass... Nobody rides for free...

Fri, 08/24/2012 - 21:30 | 2736021 rocker
rocker's picture

There is a difference between free and raping the public.  Let's see how this work. Remember those tankers of oil the big banks bought.

Deutche Bank, Goldman Sachs and JP Morgan bought them with QE Dollars. Even the Kock brothers bought a tanker.

Then they sell the gas to the refiners and buy it back to sell the refined product to gas stations who sell it to you.

It's just a wonderful feeling how captialism works for the banking cartels. Thanks Big Ben. All in time for Labor Day.

Business as usual. 

Fri, 08/24/2012 - 23:10 | 2736157 DeadFred
DeadFred's picture

QE and even the hope of QE is working well for Ben's masters. With oil being about $20 per barrel more than it would without all the free money chasing after hard assets someone is making extra every time I fill up. It doesn't worry Bernanke though since he doesn't pay for gas, his chauffeur takes care of it I'm sure.

Sat, 08/25/2012 - 00:50 | 2736296 Unbezahlbar
Unbezahlbar's picture

if I remember correctly, JPM was handed half of the "emergency release" of the Strategic reserves last time---about 30 million barrels at $92 per barrel.

Sat, 08/25/2012 - 03:17 | 2736411 A Nanny Moose
A Nanny Moose's picture

Couple of points....

Let's see how this work. Remember those tankers of oil the big banks bought.

Which holds more more? Banker Tankers, or government salt domes? Where is the outrage at 700 million missing barrels?

It's just a wonderful feeling how captialism works for the banking cartels.

That's sarcasm, right?

Fri, 08/24/2012 - 19:09 | 2735768 nmewn
nmewn's picture

Awesome, who's up for some tax revenue sponsered moonshine? So, all it was, was kicking the little guy out of the hooch market afterall.

Damned revenuer's!!!

Fri, 08/24/2012 - 20:13 | 2735918 mjcOH1
mjcOH1's picture

" The only way this could be more insulting is if we mandated higher gas prices by using food additives, and caused food to rise as well. Imagine how insulting that would be, our tax debt(dollars)  funding something like that. Thank god I live in America."

 

You're not thinking hard enough:

- "Gas stamps" / rationing

- subsidized gas (because the 50% of US household's not paying income tax are paying more than their fair share in gas)

 

We have a ways to go before running out of ways it could be more insulting.

Fri, 08/24/2012 - 22:21 | 2736097 Freddie
Freddie's picture

Also helped by Mohammed Hopium and his stuxnet worm on the rig in the Gulf of Mexico early in his term aka reign of terror.

Fri, 08/24/2012 - 20:18 | 2735925 Renewable Life
Renewable Life's picture

No one panic, CNBC just said it will all be over soon, and prices will go down again!!!

What that POS network of liars and con people, DIDNT say was, it will only go down 25-30 cents over a couple month period, until they regroup to push it above $5 a gallon by the end of the year! They will quote some shit about heating oil demand or extreme cold winter in fucking Maine, or maybe we will be into it with Iran by then, and the pot will just get a little bit hotter on the frog.........in case you dont know the parable, we are the fucking frog!!!

Sat, 08/25/2012 - 03:10 | 2736406 A Nanny Moose
A Nanny Moose's picture

No we didn't. We didn't do anything. We especially didn't built that....whatever "that" happens to be

Sat, 08/25/2012 - 08:39 | 2736591 HardAssets
HardAssets's picture

WE'RE NUMBER ONE !

Fri, 08/24/2012 - 18:45 | 2735670 bob_dabolina
bob_dabolina's picture

God I hope Ben QE's the shit out of the dollar. I hope gas goes to $10 a gallon.

Get some of these fuckin' idiots off of the roads.

Do it Ben, you have my blessings.

Fri, 08/24/2012 - 18:48 | 2735700 I think I need ...
I think I need to buy a gun's picture

I'm with you 10 dollar gas I'm all for it, there is way too many fuckin cars out there STILL,,,,,

Sat, 08/25/2012 - 08:46 | 2736595 HardAssets
HardAssets's picture

Oh yeah, that'll be just great. When I'm in farm country and see all those tractors and combines that burn lots of fuel to provide food . . . . I think how great it'll be if the cost goes up to ten bucks a gallon. Food costs will soar.

Sat, 08/25/2012 - 12:32 | 2737079 Bam_Man
Bam_Man's picture

Obesity crisis - SOLVED! Plus we get 95% of the texting-while-driving morons off the road and no more traffic jams. I say bring on the $10/gallon gas. The sooner, the better.

Sat, 08/25/2012 - 16:54 | 2737555 HardAssets
HardAssets's picture

BTW - - 'peak oil' is complete b.s. 

Petroleum is the second most abundant liquid on the planet.

Like diamonds & dollars, . . . just another scam.

In the case of dollars . . . oil is used to prop up its 'value' however.

Note:  this has been known for quite sometime - you just have to check out the available information:

http://rense.com/general67/oils.htm

Sat, 08/25/2012 - 10:08 | 2736708 socalbeach
socalbeach's picture

I did an expense minimization calculation on my old IMSAI 8080 computer and came up with a price of $15/gal to minimize my total costs.  That takes into account the increased wages I have to pay my Rolls chauffeur as he gets stuck in traffic driving me around town at lower gas prices.

Sat, 08/25/2012 - 10:32 | 2736771 zelator
zelator's picture

+1 for the IMSAI 8080 reference

Fri, 08/24/2012 - 18:58 | 2735737 Spastica Rex
Spastica Rex's picture

My bicycle gets infinity miles to the gallon.

Fri, 08/24/2012 - 19:20 | 2735785 bob_dabolina
bob_dabolina's picture

How much are you going to spend on food/shelter biking from CA to NY with no assistance?

Try it out, I'm curious to know the financial cost.

After you're done with that try biking back with one 55 gallon drum of oil trailing behind you.

Fri, 08/24/2012 - 19:20 | 2735797 lotsoffun
lotsoffun's picture

who has arranged their lives to need to go from ny to ca?  if you want to live in ny, live there.  if you want to live in ca, live there.  live where you feel best.

 

Fri, 08/24/2012 - 19:25 | 2735810 bob_dabolina
bob_dabolina's picture

What if I live in NY but need a product made in CA to run my business? 

Bike it out with 'infinity to the mile legs'? I guess I could, with Obamacare you're gona' pay for my joint replacements anyway.

Fri, 08/24/2012 - 22:02 | 2736070 Spastica Rex
Spastica Rex's picture

Are you always this cranky?

Sat, 08/25/2012 - 02:32 | 2736371 DaveyJones
DaveyJones's picture

uh, that's why things are gonna change

Sat, 08/25/2012 - 08:10 | 2736575 GetZeeGold
GetZeeGold's picture

 

 

Well......we Hoped it was going to Change.

 

Oh things changed all right.

Sat, 08/25/2012 - 03:28 | 2736415 A Nanny Moose
A Nanny Moose's picture

So glad value is not lost on you.

./sarcasm -off

Sat, 08/25/2012 - 18:38 | 2737689 lotsoffun
lotsoffun's picture

bob - you are being silly.  i didn't say that transportation doesn't exist.  just that excess needn't be.  of course products have to be shipped globally and nationally.  on the other hand - i also try to buy thing built, grown and produced locally when possible.  you have a problem with that?  not everything has to be CHEAP.  i live in a society and i want other people to make money and live a decent life also.

 

Sat, 08/25/2012 - 03:26 | 2736414 A Nanny Moose
A Nanny Moose's picture

Why would CA<>NY by bike ever be necessary? Why would you need a 55 gallon drum of oil to power a bicycle, unless you were in the Tour De France with a parade of team, media and commisars' vehicles following you? This comment is so completely mired in linear thought that I can only conclude tht you forgot your /sarcasm flag.

Fri, 08/24/2012 - 19:18 | 2735792 lotsoffun
lotsoffun's picture

i really do understand people in deep rural areas.  but - that's now the minority of us.  i bought something too large to bring home on the bike in may - otherwise, i've been once in a car in 8 months.  everything else was mostly bike or public transport.

and no 'fresh direct' crap either.  i walk it home or i bike it home.  and a lot more people could do this then they think. 

Sat, 08/25/2012 - 03:37 | 2736418 Adahy
Adahy's picture

If you can't walk it home or at least strap it to your saddle; you probably don't really need it.  Just sayin'.

Fri, 08/24/2012 - 19:20 | 2735796 Citxmech
Citxmech's picture

Until you have to eat - then you're paying for it via food transporation costs.

There is no free luch.

Fri, 08/24/2012 - 20:56 | 2735979 LMAOLORI
LMAOLORI's picture

 

 

Obama’s economy hits the dinner table Higher grocery bills knock American families lower

snip

"President Obama is busy attempting to make this election about small things and ridiculous distractions, but no matter what, Americans cannot escape the harsh realities of the Obama economy. Even a trip to the grocery store has become more difficult for struggling families.

To help illustrate this, consider Julia, the fictional character created by the Obama campaign.

Let’s say Julia goes shopping. She buys the groceries she purchases regularly—produce middle-class Americans might obtain on any given trip to the store. White bread, ground beef, red apples, beans, flour,turkey, and so on.

As it happens, Julia has a receipt from just before Obama took office for the same items. Same groceries, pre-Obama. What does she find? She’s now paying higher prices. There’s been a nearly 15 percent increase since Mr. Obama took office."

Sat, 08/25/2012 - 12:22 | 2737059 chubbar
chubbar's picture

Just an FYI but I bought a ton of turkey and chicken feed yesterday. The prices have gone up 22% since February price list came out, mainly from corn pricing. Get ready to see that reflected in the grocery store this fall.

Sat, 08/25/2012 - 12:35 | 2737087 Bam_Man
Bam_Man's picture

Obummer's wife explained to him that calories are way too cheap for the average 'Murkin, so he is in the process of "fixing the problem".

Sat, 08/25/2012 - 03:29 | 2736416 A Nanny Moose
A Nanny Moose's picture

Gardening for the win.

Sat, 08/25/2012 - 08:40 | 2736592 GetZeeGold
GetZeeGold's picture

 

 

Gardening does fabulous things for the First Lady's arm. She looks stunning in the $7000 blouse!

 

Sat, 08/25/2012 - 03:46 | 2736423 Adahy
Adahy's picture

Free is does not actually exist, never did; it's just a trick to feed that entitlement mentality..  BUT, all I put into my garden in my labor; everything else is taken care of.  That's as close to "free" as anyone will ever get.  And I eat WELL.
Gardening is fun, relaxing, rewarding, and can be done almost anywhere.  It's a GREAT way to hedge against food inflation, and I even make some decent money at the farmer's market when I have extra.
I suggest everyone give it a try. If you want any tips, advice, or seeds, let me know; I'm happy to help spread the joy of gardening.

Sat, 08/25/2012 - 17:18 | 2737601 kekekekekekeke
kekekekekekeke's picture

I would love tips/advice/seeds do you have a newsletter if so I wish to subscribe

 

I live in an apartment in OK but want to get a plot somewhere

Fri, 08/24/2012 - 19:24 | 2735806 Stoploss
Stoploss's picture

Yall beat me to it.. Perfect way to weed the shitboxes off the road.

Fuel worth more than the car. LOL!!

Fri, 08/24/2012 - 22:34 | 2736111 edifice
edifice's picture

Gas is really, really cheap in this country. We should be paying about $8/gallon, if you derive the value from anything other than dollars.

Sat, 08/25/2012 - 01:22 | 2736322 TIMBEEER
TIMBEEER's picture

Well, we pay that $8-$10 gas in Europe (cough), around 70% is tax only, since we have to help the "needy" and the entitled. Luckily the new car engines (especially German cars) here are ridiculously small but amazingly powerful (turbocharged) and fuel efficient giving a very high milage. Even big cars have these small engines. Hybrids don't sell here because these small engines are more fuel efficient than the Prius or other hybrids.

Sat, 08/25/2012 - 02:37 | 2736380 DaveyJones
DaveyJones's picture

we pay more than 8 dollars for gas. It's just called other things like the war on terror, airport security, the military ....

Fri, 08/24/2012 - 18:41 | 2735671 Rainman
Rainman's picture

Summer of Recovery bitchez !

Fri, 08/24/2012 - 18:52 | 2735719 nmewn
nmewn's picture

Part IV.

Fri, 08/24/2012 - 18:41 | 2735675 roadsnbridges
roadsnbridges's picture

What gas?  None here locally in SW FL.

Fri, 08/24/2012 - 18:47 | 2735694 disabledvet
disabledvet's picture

That's interesting. Is it true? Signs that say "no gas"? Please take pic and post if so...

Fri, 08/24/2012 - 18:55 | 2735723 buzzsaw99
buzzsaw99's picture

people fill up when there is the prospect of a hurricane

Sat, 08/25/2012 - 00:01 | 2736249 Freddie
Freddie's picture

Refineries also get shut down.  This thing is going into the gulf of mexico.  It will probably stay far enough east in the gulf so oil production and refineries may not be affected too much.

Fri, 08/24/2012 - 19:05 | 2735749 roadsnbridges
roadsnbridges's picture

No signs, they just put plastic bags over the handles.  Guess Charley taught 'em all a lesson.

I was just out for more diesel for the boat.  That they have.

Fri, 08/24/2012 - 18:47 | 2735696 scatterbrains
scatterbrains's picture

and here we are with /es higher then it was during both of those previous records... funny, I wonder what happens next ?

Fri, 08/24/2012 - 18:50 | 2735709 disabledvet
disabledvet's picture

The standard for success or failure is growth...not prices. Twist is the weird one...why drive down the long bond to next to nothing? Where's growth in M 2 Ben?

Fri, 08/24/2012 - 18:53 | 2735722 John Law Lives
John Law Lives's picture

Take credit for this the way you take credit for the rise in equities, Chairsatan!

Fri, 08/24/2012 - 18:54 | 2735724 buzzsaw99
buzzsaw99's picture

jet fuel to the moon bitchez

Sun, 08/26/2012 - 08:36 | 2738285 Disenchanted
Disenchanted's picture

 

 

There should be sanctions on that stuff, after all it is a weapon of mass destruction. Even a small amount of it, that doesn't burn off in the air, can collapse buildings. /s

Fri, 08/24/2012 - 19:09 | 2735726 Yen Cross
Yen Cross's picture

  According to the MSM and CNBC, " Fuel prices are peaking, and should recede after the summer holiday".  So get ready for Christmas Bitchez! /sarc

Sat, 08/25/2012 - 00:03 | 2736251 Freddie
Freddie's picture

Well oil prices usually ramp up in the spring and cool off by late summer.  Not this year.  Hope & Change - we may have $4 gas on election day.

Fri, 08/24/2012 - 18:55 | 2735727 nmewn
nmewn's picture

I've got an idea...lets not build a refinery for decades...that'll help!!! ;-)

Fri, 08/24/2012 - 18:58 | 2735739 surf0766
surf0766's picture

Even if we could we did not build it.

Fri, 08/24/2012 - 19:03 | 2735754 nmewn
nmewn's picture

Someone prevented us from building that...so we didn't build that, good point.

Whether NIMBY or government regulations or companies seeking to keep prices high or devaluatin of the dollar...it is the perfect storm.

Fri, 08/24/2012 - 19:59 | 2735885 Yen Cross
Yen Cross's picture

nmewn ! Don't} Build it and they will come Theory.     You are a pleasure to read.  Have a great W/E.

Fri, 08/24/2012 - 18:56 | 2735733 robertocarlos
robertocarlos's picture

The joy of being a Canuck is $5.50 gasoline hasn't even fazed me in years.  Four bucks is pure bliss.

Fri, 08/24/2012 - 19:01 | 2735750 FeralSerf
FeralSerf's picture

From each according to his ability, to each according to her needs.

Fri, 08/24/2012 - 19:05 | 2735758 Yen Cross
Yen Cross's picture

robertocarlos   If I lived in permafrost 2/3rd's of the year, it would be great for me to!  Just walk out the door and shoot dinner. That's worth the extra petrol costs and then some!

   Good luck finding a doctor to remove the bone stuck in your ass after dinner. Canadian "Obama care" and all. I'm just joking with you BTW ;-)

 

Fri, 08/24/2012 - 19:17 | 2735790 robertocarlos
robertocarlos's picture

LMAO. You people are fun.

Fri, 08/24/2012 - 19:06 | 2735761 Meesohaawnee
Meesohaawnee's picture

Yea but Roberto Luongo isnt....

Fri, 08/24/2012 - 19:18 | 2735793 robertocarlos
robertocarlos's picture

Lou will be sent to Florida.

Fri, 08/24/2012 - 19:12 | 2735776 lotsoffun
lotsoffun's picture

robertcarlos - you don't understand.  i drive a hummer.  and i bought this thing, because i want everybody to know that i have a lot of money and a huge p.....  huge.  it's as big as my car.  and i don't really mind how much gas costs, because of course, i'm rich.    really rich.  huge rich.  huge car.  huge p.....  and i could give a f... about the envirnoment, that's a load of commie crap, exhaust and everything else is safe.  because, i'm important and you're not.  oh- by the way, you camel jockies.  if you don't want to sell cheap, my boys gonna stop by and take it.  ok.  and for all of you that don't get it.  (this was sarcasm)

 

Sat, 08/25/2012 - 00:08 | 2736256 Freddie
Freddie's picture

What?  Must be Imperial gallons.   Stop selling your oil to the chicoms.  Keep some home.

Fri, 08/24/2012 - 18:57 | 2735734 booboo
booboo's picture

Just in time for the start of school and big yellow gas guzzling Screw Buses. But "It's for the children"

Thank You Ben from the bottom of our wallets.

Fri, 08/24/2012 - 19:05 | 2735760 buzzsaw99
buzzsaw99's picture

always a joy to pay to school the retard spawn of prolific breeders

http://www.youtube.com/watch?v=IwwuZr6H1LQ

Fri, 08/24/2012 - 19:40 | 2735843 Yen Cross
Yen Cross's picture

  i'LL takE dA SHorT buS !   Good post " Buzz Man" .

Fri, 08/24/2012 - 21:57 | 2736058 PersonalRespons...
PersonalResponsibility's picture

JESUS!

 

My new favorite song.

Fri, 08/24/2012 - 21:58 | 2736060 PersonalRespons...
PersonalResponsibility's picture

Aaaaand... double post

Sat, 08/25/2012 - 00:53 | 2736297 Unbezahlbar
Unbezahlbar's picture

Don't forget those 'gas guzzling' postal trucks that deliver your mail. The USPS multi-billion dollar deficit will accelerate even faster.

Fri, 08/24/2012 - 18:59 | 2735744 surf0766
surf0766's picture

"Better than expected Depression"

Fri, 08/24/2012 - 19:03 | 2735753 blunderdog
blunderdog's picture

This isn't a complaint, is it?  It's nearly the cheapest gas in the world.

How much cheaper could it possibly be?

Fri, 08/24/2012 - 19:08 | 2735765 lotsoffun
lotsoffun's picture

but it's our right to drive the biggest vehicles the furthest for no real reason that use the most fuel with one person inside, and god damnit, if you don't want to sell us oil cheap, i hate to think of what we are going to do to you. 

Sat, 08/25/2012 - 02:44 | 2736390 DaveyJones
DaveyJones's picture

It's our God given right. Now by God we've had to trade away the rest of our rights but goddammit it's still our right

Fri, 08/24/2012 - 19:08 | 2735766 surf0766
surf0766's picture

77 cents sounds nice.  That is what it was around here the day we began in Afghanistan.

Fri, 08/24/2012 - 23:07 | 2736153 blunderdog
blunderdog's picture

The day we began WHAT?

Fri, 08/24/2012 - 19:12 | 2735774 nmewn
nmewn's picture

It was a buck seventy four years ago.

Fri, 08/24/2012 - 23:06 | 2736152 blunderdog
blunderdog's picture

Not if you believe the chart up there.  'Course, if the chart isn't accurate, gas probably isn't $3.70 today, either.

Derp derp.

Sat, 08/25/2012 - 06:40 | 2736527 nmewn
nmewn's picture

Pretty sure it says average BD but you're right, its 3.78 here where I live...now.

Herpa derp derp.

Sat, 08/25/2012 - 13:59 | 2737291 blunderdog
blunderdog's picture

Gotta hand it to you--you say the stupidest shit that's pointedly incorrect, and when confronted with reality, you're completely indifferent that you're wrong.  It's an impressive level of self-deception, really.

Sun, 08/26/2012 - 09:54 | 2738315 Disenchanted
Disenchanted's picture

 

 

Four years ago, according to the chart here, it was at it's second highest average levels.

 

That was 2008. Was Barry 'Obomber' Prez at that time? Incidentally that was also the same year that 'W' Bush announced bailouts for banksters and GM et al. For the Red team selective memory on those subjects("obama's bailouts") seems to be in force.

 

Political party loyalists of all stripes really piss me off. For instance where are the (D) loyalists(hypocrites) now on the anti-war subject? Fucking crickets.

 

Derp derp indeed...a derp derp here, a derp derp there, here a derp, there a derp, everywhere a derp derp...

 

Homework assignment. Everyone American should read George Washington's Farewell Address (1796) several times until they comprehend which parts might apply to their current and particular sacred cows. For today's bipartison idjits there's something there for all.

 

good day

Sun, 08/26/2012 - 17:46 | 2739158 blunderdog
blunderdog's picture

Careful.  mnewm thinks he's non-partisan.  Heh.

Fri, 08/24/2012 - 19:14 | 2735778 roadsnbridges
roadsnbridges's picture

35 cents would be even better.  And put some lead in it!

Fri, 08/24/2012 - 19:04 | 2735757 YesWeKahn
YesWeKahn's picture

Let's get QE going, Evans, Yellen, Bernanke and pigs all want it. Print, print and print.

Fri, 08/24/2012 - 19:06 | 2735763 straightershooter
straightershooter's picture

A simple, yet eloquent proposal for high gas prices:

 

Vote BO out of office as the proxy for firing BB to avenge the high gas prices imposed upon helpless ordinary citizens.

Look, BO, BB, and etc., action always create reaction.

Fri, 08/24/2012 - 19:09 | 2735769 Meesohaawnee
Meesohaawnee's picture

Austarity to the world. Fed style...

Fri, 08/24/2012 - 19:12 | 2735775 willien1derland
willien1derland's picture

FYI - The Government Giveth while the Government taketh away...Makes a great case for the U.S. Government's acceleration of the Second Law of Thermodynamics:

Hot off the Press -

The International Energy Agency has agreed to the United States plan to release oil from its Strategic Petroleum Reserve, to ease pressure on the market after losing Iranian exports due to sanctions, as long as the United States does not act unilaterally and waits for IEA-wide participation, Petroleum Economist reported Aug. 24. France and the United Kingdom endorse the strategy and are prepared to release their own stocks as well.

 

Fri, 08/24/2012 - 19:21 | 2735798 roadsnbridges
roadsnbridges's picture

Good catch.

In regards to Goobermint, I prefer the Peter Principle.

Fri, 08/24/2012 - 19:14 | 2735779 q99x2
q99x2's picture

The oil companies have a verified pattern in the chart of raping the public just before a recession or in this case a possible collapse. They try to get their money out ahead of everyone else.

Get your shorts on.

Fri, 08/24/2012 - 19:31 | 2735826 Meremortal
Meremortal's picture

Congratulations. That is the dumbest comment I've read in a long time. And I read a lot of dumb comments.

Fri, 08/24/2012 - 22:42 | 2736114 James
James's picture

Yes it was.

As i am the Jimmy Carter of commenters here,

You are now Obama!

Fri, 08/24/2012 - 22:05 | 2736078 Kassandra
Kassandra's picture

I used to work for an oil company. He is correct. Unfortunately.

Fri, 08/24/2012 - 19:16 | 2735787 roadsnbridges
roadsnbridges's picture

Why does it seem Amerika got more stupid when lead was taken out of gas?

 

Fri, 08/24/2012 - 19:22 | 2735800 reader2010
reader2010's picture

Just met a guy who just came back from a trip to India. He says even at $3.79 a gallon here still much lower than the gas price in India.

Fri, 08/24/2012 - 19:25 | 2735811 roadsnbridges
roadsnbridges's picture

Taxes, my dear.  Even cows need unemployment payment.

Fri, 08/24/2012 - 19:34 | 2735831 nmewn
nmewn's picture

I'm sure millions of Indian bicyclists are envious of us.

Fri, 08/24/2012 - 19:43 | 2735853 Yen Cross
Yen Cross's picture

 Do Indonesian "Rickshaw" pilots count? :-}

Fri, 08/24/2012 - 20:09 | 2735907 nmewn
nmewn's picture

Only the ones using lawnmower engines instead of their legs ;-)

Fri, 08/24/2012 - 20:31 | 2735946 Yen Cross
Yen Cross's picture

 Do " Multiple legs count"? How should we classify that input? (http://www.google.com/imgres?imgurl=http://media.nowpublic.net/images//0...)

Fri, 08/24/2012 - 19:44 | 2735857 reader2010
reader2010's picture

The guy said many many more people drive cars in India now compared to four years ago. 

Fri, 08/24/2012 - 20:06 | 2735901 nmewn
nmewn's picture

They can't even keep the fucking lights on over there, so yeah, probably a good idea to invest in a car in order to listen to the radio, with the air conditioning on...while idling in the driveway of their dark home.

Maybe set up a kitchen on the trunk.

Its like Florida hurricane season year round over there...perfect.

Fri, 08/24/2012 - 19:29 | 2735822 Meremortal
Meremortal's picture

 "...it would appear that 'transitory' means something different than us mere un-omnipotent-beings can comprehend."

 

The writer shouldn't feel bad, definitions are loose around here.

 

Take "imminent financial collapse" for example.

Fri, 08/24/2012 - 20:07 | 2735905 orangegeek
orangegeek's picture

And the joke is that Spot Gasoline prices are well below recent highs and historical highs - closed at $2.92 per gallon.

 

http://bullandbearmash.com/gasoline-prices-ready-drop/

Fri, 08/24/2012 - 20:09 | 2735908 plata pura
plata pura's picture

it use to take 1 usgallon to extract 100usgal of energy and it was easy to get. them days be gone and will never ever return. now belligerent nations in all their arrogance want more energy sucking things like food, clothing and shelter; some even want transportation!

Fri, 08/24/2012 - 21:37 | 2736037 Atomizer
Atomizer's picture

Estimated 2012 Gasoline Price Breakdown & Margins Details

 

 

Cash surplus/deficit (% of GDP)—Fuck we were only -10% since the end of 2011

http://data.worldbank.org/indicator/GC.BAL.CASH.GD.ZS 

Proles will unite by starting to throw bricks, burn down buildings and protest again. The simple fact, they have no idea that the government coffers pick from their own pockets. They’re just useful idiots who are told that the Government will take care of them.  

Sovereign bailouts and senior loans

Summary: Institutional lending in crisis is evaluated from a theoretical point of view. First, the share of senior loans in new loans is irrelevant under a given probability distribution of the country's resources. Second, seniority may partially alleviate the inefficiency of debt contracts when the distribution of resources is endogenous to the country's physical investment and effort towards success. Third, with multiple lending rate equilibria, institutional lending may induce a switch to a lower private loan rate if it can be done in a sufficiently large amount. Fourth, conditions are analyzed under which debt forgiveness is efficient under a financial shock.

>>>Click<<< 

Carry on mouth breathers. By conditioning you to wipe out other’s and save yourself helps regain social security financial traction.

Fri, 08/24/2012 - 21:38 | 2736038 Yen Cross
Yen Cross's picture

 Tyler, can't we bring back Captcha? The trolls/vampires are getting old!  No one want's chat rooms. 

  We want a like minded forum! This is a financial forum , Not " Craigs List'!?

Fri, 08/24/2012 - 22:04 | 2736076 Atomizer
Atomizer's picture


I bitched about that when Captcha was taken away. News Flash.. MarketWatch homeless arrivals have now become ZH squatters. Have fun and enjoy delousing Harry Wagner clone types.

:>)

 

Fri, 08/24/2012 - 23:58 | 2736247 Freddie
Freddie's picture

No captchas. He logs us out all the time.  The math problems get old. ZH is filled with plenty of Huff Po - hopium pole smokers who love the islamic.  

Sat, 08/25/2012 - 00:31 | 2736278 Atomizer
Atomizer's picture

 

Reply:

  1. No, they don’t log you out every time. Whatever device you use, open cookies mode. You will not get blocked from posting and logged out.
  2. Math is simple. For others, it’s a challenging effort to hoodwink society.
  3. ‘hopium pole smokers who love the islamic’ The game gets harder to sell as the clock ticks down. Focus on more important issues, ZH is a wealth of knowledge.
Sat, 08/25/2012 - 10:09 | 2736711 roadhazard
roadhazard's picture

They don't hold a candle to the red neck racist rapers. Right wingers make liberals look human.

Sun, 08/26/2012 - 11:04 | 2738476 Disenchanted
Disenchanted's picture

 

 

my -1 was for inaccuracy:  "the islamic"

 

It ain't "islamics" running the hopium show Freddie.

Fri, 08/24/2012 - 21:58 | 2736062 booboo
booboo's picture

"Post new comment"

 

 

 

Fri, 08/24/2012 - 22:34 | 2736110 AurorusBorealus
AurorusBorealus's picture

I don't think that you are taking seasonal adjustments and birth/death into consideration with this chart.

Fri, 08/24/2012 - 22:56 | 2736129 BulkCommodityGuy
BulkCommodityGuy's picture

Anyone here trade bulk physical commodities or could introduce me to those who do ?  I'd enjoy to chat. I am located Southeastern U.S.

Sat, 08/25/2012 - 01:04 | 2736309 yogibear
yogibear's picture

The $4/gal gas is old news.

On to QE3 and QE4, the $5/gal and $6/gal gas.

Even when the real inflation runs at double digits the government will report 2%.

Commodities will be a good sector to invest into given Bernanke is always being force to QE forever to make Wall Street happy.

Sat, 08/25/2012 - 01:35 | 2736327 TIMBEEER
TIMBEEER's picture

What happens if we would stop using corn ethanol in gas? How much would the gas prices rise? Or would they?

Sat, 08/25/2012 - 10:33 | 2736772 pyrat
pyrat's picture

TIMBEER

Resilience of American Agriculture | The Big Picture   20 hours ago ...Ethanol production saved Americans $1.09 per gallon of gas in 2011? ... In fact, we find that the effects of ethanol production on gas prices ... www.ritholtz.com/blog/2012/08/resilience-of-american-agriculture/
Sat, 08/25/2012 - 19:58 | 2737777 GoingLoonie
GoingLoonie's picture

What are you smoking?  Cornsilk?  My Gramps said it was just like mara-gee-wana.

Sat, 08/25/2012 - 09:48 | 2736662 pyrat
pyrat's picture

I just want to say that reading most of these comments is well... basically a waste of time. What does gas prices have to do with inflation anyway? Once you know what inflation really is then comment!

 

 

Sat, 08/25/2012 - 10:03 | 2736698 roadhazard
roadhazard's picture

I read on the internets that for every penny increase in the price of gasoline the economy loses four brazillion $ or something. Big Oil has turned off the taps and now you must Pay, screw the economy.

 

 

Sat, 08/25/2012 - 10:04 | 2736699 CheapBastard
CheapBastard's picture

Higher gas prices really do work!

I only saw a Billion people in bumper-to-bumper traffic during Friday's rush hour, mostly one person to a Mega-Suv...some in their Hummers.....

See how sensitive people are to prices. They will complain but take little action to correct their behavior. Same with health care issues.

 

Sat, 08/25/2012 - 12:48 | 2737120 Bam_Man
Bam_Man's picture

Someone's going to make a fortune when they introduce a modern version of the "Flintstone mobile".

Sat, 08/25/2012 - 16:31 | 2737532 Joebloinvestor
Joebloinvestor's picture

So much for Barry's "all in" policy of bullshit.

Sat, 08/25/2012 - 19:22 | 2737745 supermaxedout
supermaxedout's picture

Poor Americans they pay so much or their gas.

In Germany the price is now Euro 1.70 not per gallon. Its per liter. One gallon is roughly 4 liters. So one gallon is appx 6.50 Euros that in Dollars appx 8.50 per gallon. Not bad isnt it.

 

Sat, 08/25/2012 - 20:08 | 2737790 knukles
knukles's picture

See.  That's what those dumbfucks get for pricing their gas in Euros.
(sigh, sarc off for the weak minded)

Sun, 08/26/2012 - 02:35 | 2738083 Richard Whiskey
Richard Whiskey's picture

Listen to all these people bitching about has prices.
Boo fucking who. Drive a truck and pay for fuel. Then you can bitch about it. Fuel prices are increasing more than twice the rate of gas.

Good game.

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