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White House Comments On Surging Gasoline Prices
Just when we thought that when it comes to nonsensical announcements Europe is second to none, here comes the White House and takes the cake:
- WHITE HOUSE SAYS RISE IN GASOLINE PRICES CAUSED BY VARIETY OF GLOBAL FACTORS, INCLUDING UNREST IN SOME PARTS OF WORLD, FAST GROWTH IN OTHERS - RTRS
Uhm, would the "unrestful" parts of the world be those that have an above average US drone presence. At least we know that said price surges have nothing to do with the following chart:
As a reminder, we did note over the weekend that inflation is about to become the biggest concern of "investors" everywhere:
Oddly enough, one very crucial item missing is once again surging inflation courtesy of trillions in stealthy central banks reliquification, sending crude to the highest since May 2011, and the most expensive gas price in January on record.
Sure enough...
Rising U.S. gas prices have been fueled by a number of factors in world markets, including unrest and rapid growth in emerging markets, the White House said on Tuesday.
White House spokesman Jay Carney said recent increases in gasoline prices were "clearly the effect of a variety of factors on the global price of oil," including unrest in some parts of the world and economic growth in countries including India and China.
"The fact that this is happening only underscores the need ... to have a comprehensive energy policy," Carney told reporters.
U.S. gasoline prices jumped in January, leading overall consumer prices higher and offering a reminder of the risks energy costs pose to the economic recovery.
After rising throughout January, the national price for regular unleaded gasoline in the United States rose to $3.58 a gallon in the week through last Monday, according to the Energy Information Administration. It had started the year around $3.32 a gallon.
The people demand more Solyndras!!!
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This lunacy fits a pattern. In a December 7 interview with President-Elect Barrack Obama on NBC's Meet the Press, Tom Brokaw suggested, in light of dropping fuel prices, that government should "take this opportunity to put a tax on gasoline, bump it back up to $4 a gallon where people were prepared to pay for that, and use that revenue for alternative energy and as a signal to the consumers those days are gone."
44 days prior to his taking office and your surprised?
I know, what about killing subsidies to Big oil and allowing the REAL costs to come through? These fuckers ALL work together. The "alternative" talk is just that, talk, it's only appeasement talk to make it sound like folks other than Big oil will get some of the taxpayers' money.
Kill speculation of oil.
Raise speculation margins required to 100%. Problem solved.
Isn't every market speculation? Or just the ones you don't like.
Absoulutely correct. Every investment made is a guess (speculation) for no one can see the future. But lots of people get paid a lot of pretend dollars to pretend that they do. Hence the run to this analyst or that by not only Evil Oil Speculators but Ma and Pa Sixpack looking to moved assets around to different classes based on educated guesses (speculations on the future).
I would like to speculate on freeze dried food producers.
That's fine as long as you don't have 7 days worth.
It couldn't possibly have anything to do with the printing. It is those damn evil speculators.
Well guess what pal, back in 2008, the price of oil went to 150$ a barrel... on speculation alone, not printing. And who was doing the speculation? 90% of it was JPMorgan.
So pal, are you with us or the terrorists (JPMorgan)???
And? It stayed there? Let's check... Nope.
Sure, some "speculators" might have enough clout to push the price up, but it'll only stay there for a short time. The "speculators" are then selling! As we know, what goes up must come back down.
No matter where I look it seems that everyone misses the point that the entire point is just jacking shit up and down in order to skim. Folks should just let stuff roll and hedge for their NEEDS.
*
They switched the commonly cited "price of oil" from Brent to WTI a few years back after the Brent reached $145 in July 2008. WTI is the "Oil" figure on the front page of MW, for example. It is running $20 lower than Brent, at $106 pb. The current Brent price is $126-ish. So yeah, actually, the price did stay "there" - or close - only 13% off the 2008 Brent high at the mo.
What exactly do you think these "speculators" are perceiving?
Quite frankly my dear, I don't give a damn.
Regular here in the south is about 3.50, the bitching will start at 4 and the bloodletting at 5.
Kewl! I just made a phrase so common back in the day.
More at 5 Pm.
With all of the things putting upward pressure on fuel prices, we'll be extremely fortunate to only see it go to $5/gal.
Fine I start walking at about 18 dollars a gallon or so.
I need to dig a hole in the ground with back hoe and whistle up a starving fuel man to fill it.
Going Long Amish Buggy's...
Remember Black only, and then maybe Grey if you are a-courting. Watch out for the English.
Yes, but Amish Buggy's what?
Reporter to Carney: "Are you fucking high"?
Carney: "I'm not as think as you stoned I am".
Big Fibber - I call BULLSHIT!!!!! CME has REDUCED the initial & maintenance margins in December 2011 & February 2012 (18.8% reduction) --> the CFTC CoT 14-Feb-2012 shows the under the Money Managers hold Long positions = 236,010 & Short positions = 33,788-I have a question for O'Slappy - Increase initial & maintenance margins 20% & we will see how oil prices do - damn liar!!!
They forgot to blame big oil, speculators and Bush. I guess they are saving those for election time. They play better to the base.
http://www.youtube.com/watch?v=HlTxGHn4sH4
Obama WANTS high energy prices, bitchez!
Mother Nature does not give a fuck about what Obama wants. It has only created so much energy and we are licking that womb dry faster every day.
Which is why we are doing this......
http://www.all-creatures.org/hope/gw/AB_oil_sands_open_pit_mining_crop.jpg
And this......
http://desmogblog.com/sites/beta.desmogblog.com/files/blogimages/mountai...
And this.....
http://3.bp.blogspot.com/-INn8a876f1M/Toonc9L3ypI/AAAAAAAALMU/O5D0_QoTwF...
And this.....
http://switchboard.nrdc.org/blogs/rperks/KY%20MTR%20photo.JPG
And this.....
http://www.vanityfair.com/business/features/2010/06/fracking-in-pennsylv...
And this.......
http://www.islandbreath.org/2011Year/04/110417fracking.jpg
After seeing these images....if you still have the balls to say we can't increase our energy needs in this country because of environmental standards....then fuck you. You're too stupid to realize we are doing these God awfully dirty and destructive processes because that's what's left. The cheap energy is gone. And the only way these expensive processes make any economic sense is because of the high price of oil made possible because of Peak Cheap Oil.
Drill Baby Drill will not work even if we did. It certainly does not work for all of you with your head up your ass drilling for clues.
Beautiful landscapes...
They'll make nice golf courses once they are reclaimed, at the ends of the projects. Maybe some will even get to become suburbs with McMansions.
Do you feel better after that? Well put, by the way
No spin attempt at all there! Instead of saying "under my plan, electricity prices would neccessarily increase" HE SAID "SKYROCKET"! That's amazing. I wonder of the Republican Campaign has that stuffed away for election time.
Glenn Beck used to play that clip almost daily.
That's a reality, a SURE thing (Mother Nature says it'll come to pass).
Bush: (We) never stop thinking about new ways to harm our country and our people
http://www.infowars.com/print/Bush/new_bushism.htm
Spin it how you like, spin it how you like...
The jackass is back in the news and again accepts no reponsibility for higher prices. How about Keystone clown man?
Please educate me as to how Keystone XL brings down the price of oil....
I am all ears and I am serious....
It doesn't bring down the price of oil, no matter what the hopium smoking cornucopians say. That oil from the dirty tar sands WILL GO to someone on the open market...probably CHINA. So what....all oil goes on the open market. That's why we import most of our oil from somewhere else......because it is cheaper. But the oil derived from tar sands IS NOT CHEAP OIL ! So even if that pipleline came in to America and we got some of it the rest would then go somewhere else on the open market. Besides....it does not matter how much oil comes in.....if you don't have the refinery capacity to derive other products from it...(gasoline, diesel, kerosene, plastics....etc, etc..) then you can only import so much. That means less volume which means less of a rate of decrease in your price of gas.
So..you might say....DRILL BABY DRILL and BUILD REFINERIES BABY BUILD REFINERIES !!!!
Go ahead.....the only way you're going to Drill Baby Drill and make any money is if WTI is priced above 120 ( and as a reference Brent above 130) and when I say Drill Baby Drill is actual Drilling not Shale Fracking. And once oil is that price gas is over 4.00/gal nationally and $5.00 in the large metropolitan areas. And you can kiss goodbye the economy and the need for that extra oil from Drill Baby Drill and the need for additional refineries which are 100's of millions of dollars expensive.
What's ironic is that in the end we will alway have enough oil and coal and gas in the ground. What we have run out of is enough of all of this to fuel our exponential growth and our hopium dreams of utopia
Rising gas prices are GOOD for you:
http://www.forbes.com/sites/prospernow/2012/02/21/the-economic-benefit-o...
So there, BitChez
Wait! I'm confused, what's a "lefty" comment doing in a Forbes rag? Hm... couldn't be that this isn't a left vs. right thing, could it?
Buck Farack!
<deleted> Answered own question. Thanks for nothing. (jk)
Check out the latest 'Pulse of Commerce Index' report;
http://www.cerideanindex.com/news/release/January-PCI-Decreases/
Gas will no doubt continue the uptrend from here. Gasoline On Fire http://www.traddr.com/profiles/blogs/gasoline-on-fire
Investing is so contradictory to all other human behaviors and directly violates the natural supply vs demand paradigm. Seems like whenever prices trend higher, more people flood in to buy up at inflated prices. This of course artificially raises prices until it's evident we have a speculative bubble on our hands regardless of parabolic maneuvers. Now we wouldn't buy more bananas, cars and laptops just because the price is rising, so why do we spend our life savings setting ourselves up for disaster?
Because that's what we do!
Baa, baaa, baaa...
People are programmed to do this, programmed by the wonderful invention of "modern" industry (those precious souls that only look to bring good things to life), marketing. We're actually buying and selling ourselves and we don't even know it...
The 8th grade educated stooges I work with all believe that we need to bomb Iran. That pretty much explains it all.
Tell them to go at it alone and use their own savings. They can share the spoils for all I care.
Must be weird to be Jeb Bush... if he runs he wins, period. I wonder why he doesn't... for MY part, an extension of the crooked, corrupt war for profit Bush clan would be a bummer, but there it is. Hell, even Daniels could probably whip Mitt, ricky and the Newt-bug...
One thing about Jeb and well this might not be saying that much but if you put him speaking against his brother George you wonder how they are related. Not endorsing Jeb or another Bush by any means I'm just making an observation of GW vs Jeb when they speak. That's all. No whammy's about saying I like Jeb please. I'm not commenting on that one way or the other just strictly based on 1 time I saw Jeb on tv talk vs the 8 years of GW. Didn't sound related. That's all I"m saying.
what happened to everyone's avatars? Is it just me?
The gubmint started taxing ZH avatars. AMT Avatar Minimum Tax
Sorry to inform you of this, but those who have been sucked up by the zombies appear with bags on their heads. ALWAYS CHECK THE MIRROR!
Anyone putting any credence to any of the bile coming out of the Ministry of Obamao Propaganda deserves $5 gas, and then some.
...what would you expect from the Slave Masters White House? Rosemary's Baby is the ultimate farce and the U.S. Military Veterans know it.
http://www.youtube.com/watch?v=T8tX4mmo_RY&feature=player_embedded
Tyler, sent the phu cking chart to OBAMA.
Mandy drury should take that fast money and get a tit job, but me being me I still would stir her cocktails with my dick.
130 a barrel weeeeeee let's break this fucker good!!!!!
WHITE HOUSE THINK YOU GUYS ARE ALL LEMMINGS AND THE POTUS WILL GET RE-ELECTED AGAIN AS LONG AS HIS MEDIA FRIENDS KEEP IGNORING RON PAUL AND BRAINWASHING YOU LEMMINGS.
Calm the fuck down
Eat your peas bitchez!
Has Obama ever bought gasoline with his own money ? Will he ever again ?
He has people to take care of that minor inconvenience. The Beast is a good ride.
Now back in real life, he will have to learn how to do it all over again.
WHITE HOUSE SAYS RISE IN GASOLINE PRICES CAUSED BY OTHERS NOT US
When obama runs out of answers he just says:
I blame:
1 arab spring
2 tsnunami
3 euro problems
if that doesn't work, he whips out the ace in the hole, It's bush's fault.
if that doesn't work, he whips out the race card like Eric Holder does.
Affirmative action president bitchez! Those chickens are comin home to roost alright.
He's a great scapegoat for the "republicans." Like that bumbling sack of excrement would do anything other than what the handlers say, yeah, right... Fucking Party Pussies...
As a reminder, we did note over the weekend that inflation is about to become the biggest concern of "investors" everywhere
Excuse me??? What about all the talk about defaults and sovereign debt crisis? This is not sounding like inflation's going to win out.
Yes we can. Can we keep the price of oil up even in the face of deflation? Yes we can. We can do it attacking another oil producing country. Can we keep your profits high? Yes we can. By atacking that oil producing country. Can we scare the peeons with stories of Iran nuking us tomorrow with rockets that they don't have? Yes we can. Can we get them angry and willing to fight and die for your oil profits? Yes we can.
Can you fill up my re-election campaign funding requirements? Yes we can.
Dufuss
OMFG finally something they can't blame on the weather. With consumption hitting lows some would think the prices would drop accordingly right? Ah no, that's not how it works in an economy run by a private Bank and all its cronies. If they can't hit their margains in sales then they will get it in price...It's really that simple. Diesel just passed $4.20 in Cali...Hey ROBO, How's that Cummings Stock looking lately?
How am I supposed to buy PMs when the cost of gasoline keeps rising?! Oh wait, I just bought a Prius 2 weeks ago, commute by bike in the summer and I heat my house with wood. Fuck off, banks.
Fair weather rider, eh?
News flash: Roads are built and maintained with OIL. Start kissing the banks again... Really, you think you're independent if you commute? Ha ha!
boooooooooooosch....look over there a cow.
iu remember during the painful bush years that if one of our democrat nazi dainties wokeup and mommy didn't have mush and weed ready they howled at the moon that bush did it and killed kittehs and doggehs...
will the obama press and media cover it the same way? do unicorns shit in the woods?
The problem with oil prices:
the London loophole
the Enron loophole
the Goldman Sachs loophole
everything else is fluff.
Was there anybody to throw glitter at Carney when he said this?
I am waiting the government's announcement that there will be 6 pints in a gallon of gas to combat inflation.
Shocking. I thought for sure he'd blame it on Bush. There will be a shitload of hamena hamenas in the months to come.
"I thought for sure he'd blame it on Bush. "
Party Pussies' logic always fails. Next?
Obama is actually very happy about surging gas prices. Haven't you heard? Gasoline creates carbon dioxide which causes global warming.
Surging gas prices will force everyone to switch to Chevy Volts powered by Solyndra solar cells.
1:1 dow gold ratio with the dow at 50,000, exponential B1tchez!
Nothing says peak oil like high gasoline prices during an economic collapse. Maybe the popularity of petrol bombs in Greece supported pricing for a few days, but the long term outlook seems certain.
Save Gas, Fart In A Jar. Problem solved. Move along, go about your business. There is nothing to be seen here.
Or, typical lamestream sheeple media " THE WORLD IS ENDING, WE'RE ALL GONNA DIE ! GAS MIGHT HIT $3000.00 A GALLON ! "
Choose wisely, my friend.
Gasoline prices in the cash spot market on the West Coast jumped 35 usc/gal in LA, and San Fran,, 29 usc/gal in Seattle... today from the fire at the BP Cherry Pt refinery in Wa. The cash price in LA 3.67/gal, plus taxes 0.505/gal, and distribution/break even margin to the retail stations .20/gal. California retail prices should be at $4.375 within the next couple of weeks and last week were showing 4.04 http://www.californiagasprices.com/Prices_nationally.aspx. Chicago cash prices also jumped 25 usc/gal today so add 25 more to Chicago. The White House is trying to get out in front of it... we just had a one day move that doubled the ytd avg. increase in the cash markets.
Seems Chicago had better control of pricing. (who would'a thunk) By elections, $5 gas will be routine and driving SUV's third hand will be like wearing genuine fur coats fifteen years ago. So what?
Still on the right side of $3 in CO (at least for 85 octane).
Hm... a fire... Seems that my warnings of degraded infrastructure due to reduced maintenance (in an effort to squeeze out more profits) is coming along just as predicted. Well, that or Obama set the fire... (or, yes, He and Bush did it!)
ONe of my favorite Obama quotes, from two years ago: "If you're complaining about the price of gas and you're only getting 8
miles a gallon, you know," Obama said laughingly. "You might want to
think about a trade-in."
At least he didn't say "folks".
Meanwhile it's OK for folks to laugh at poorer people who complain about being able to eat because, well, they should think about going on diets and shit.
I greatly dislike Obama, but I see nothing wrong with the logic- if you have control over your situation then do make a change rather than bitch.
Just not seeing the logic being equally applied here. When that's the case I usually detect a waft of party stench.
My neighors got a trade-in for another gas guzzler at my expense. I paid for it through inflation of my scrimped and saved money where I did without things to provide for my future. Since I am not at the productive near the end of my life, I am of no use to the banksters, corportations or politicians. On the other hand, I don't have much to lose, may lose it.
Gas will go up. The grid will come down. Stay if you like. I'm a gettin outa town
Civilizations are denoted by the evolution of cities. And cities, we know, are inherently unsustainable. I'm out of "town."
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