Originally posted at Macro-Man blog [3],
26.1% : The amount that retail gasoline margins expanded [4] in the United States last month, even as prices dropped $0.34/gallon.
202,000: Number of Google results for "FX price fixing"
542,000: Number of Google results for "Gas Station price fixing"
$500,000,000: Average annual cost to the world if one assumes a daily FX fixing volume of $10 billion and that each rate was wrong by an average of 2 bps (bear in mind that those orders against the main direction of the fix receive a windfall, not a cost!)
$1.34 billion: Average annual cost to just US consumers if we assume price gouging of $0.01 per gallon
$4.3 billion: Amount of FX-related fines levied thus far
$41 billion: Amount of total FX fines expected by Citi bank-stock analysts [5]
$594 billion: Total subsidies, in 2010 dollars, to fossil fuel companies from the US government [6], 1950-2010.
* * *
Makes you think eh?
[7]
