A glaring image from 1988′s Die Hard that strikes home today.
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My oldest, now on iTunes
The choice you forgot to include is:
George Bush and his oil industry cronies. Eveyone knows its Bush’s fault!!
@IT Nerd
What was I thinkin’…?
High demand for a manufactured low supply created by the aforementioned America hating muslims.
US future supply and present supply is being diminished by Obama moratoriums on off-shore and on-shore new drilling. Diminished supply increases prices, but there are other factors such as the value expected for future contracts denominated in US dollars. Quantitative Easing means exactly what it says: the quantity of US dollars is going to be increased by printing(not literally, but by increasing the value of certain accounts). This QE is designed to allow moderate inflation (2%) in the planners’ eyes, but foreigners don’t have to believe those estimates and 4+% inflation can be expected. Thus, sellers demand an increase in future prices to be paid to reflect that expected inflation. Also, there is concern that another financial bubble (state and municipal bond market) will pop in the New Year in the US with several States/cities going insolvent (i.e. California already printing IOU scripts) causing a further devaluation of the dollar above the 4+%.
We’re paying the piper at the pump, while the Fed/Obama hope you’ll be fooled by the low official government inflation numbers which exclude food and energy cost increases. Gas is up; food is up; and the government says there’s little inflation.
God’s dollars remain constant: the government’s dollars devalue.
The ultimate cause is “Supply and Demand,” but the proximate cause (and what I voted for) is alleged-President Obama’s energy “policy.”
All are factors, but only one can be readily changed… Obama’s moratorium. Elections have consequences…
it really needs an “All of the above” choice.
OPEC will try to keep it around $70, 0bama wants it higher so we stop using it and he can keep us more localized, and due to such things the supply is slightly artificially “short” and demand is climbing world wide, especially China, and India. China is especially doing it’s best to tie up as much drilling leases as possible. We can’t drill off Florida, but the Chinese are in Cuban waters closer to Florida than many of the Gulf rigs are to the US shores. But we all know China will be more careful than BP. . . . right?
And one other thing to remember, that “Regular” gas had lead in it.
All of the above.
And more…
There’s a condemned gas station in my town that has been closed for nearly ten years. They never bothered to take the price display down. It reads .97 cents and it taunts me nearly every day.
Brody, that’s gotta hurt!
Decreased value of the American dollar.
The underlying issue is uncertainty. We have severely restricted domestic energy production and capture. There has been speculation presented as science that oil, and other carbon fuels, are so-called “fossil” fuels, and therefore there is an inherently limited supply. There has been speculation presented as science, that global warming/climate change/”climate disruption” is primarily driven by human emission of CO2. They can’t even demonstrate anomalous conditions, but that seems to be only incidentally related to their machinations.
Then there are the monetary policies, including the seemingly unlimited accrual of government debt, and, of course, every other facet of our socioeconomic systems which influences the market. It is only in the daydreams of the left, that the fundamental rules of supply and demand, and its various components and actors, are somehow irrelevant.
How do suppliers and consumers respond in this context? It would be in our best interest to have an alternative to external suppliers and internal manipulators. As we have observed recently, it is not just so-called “Big Oil” that guides this market, but the much bigger “Big Green” which enforces dominant control of the larger energy market. All of them are driven by financial interests both in the public and private sectors.
On a happier note…
A belated Merry Christmas to Bob and “Black and Right” guests.
On the topic of “Big Green”:
The Chicago Climate Club Gets Capped
The amount of influential Democrats in this group is perhaps too coincidental.
CCX was launched in 2003
…
Its planning was initiated thanks to a $345,000 grant from the Chicago-based Joyce Foundation
…
This transaction occurred when a young community organizer, Barack Obama, served on the Joyce Foundation’s board of directors, along with his mentor, present White House advisor Valerie Jarret.
It would appear that Obama was redistributing wealth… To himself and partners. Typical socialists. They want justice for all, so long as they are exempted. They want equal outcomes, so long as they are separate and unequal. Morons, one and all.
The actual operating system for CCX trading was provided by deposed former Fannie Mae ( FNM – news – people ) head Franklin Raines, who had purchased the technology rights. Raines had become an expert in bundling bad subprime mortgages, and the technology was ideal for bundling worthless air credits.
What an incestuous group. This is far from a comprehensive review of complicit actors.
Yeah, Goldman Sachs is implicated. I wonder who initiated this for-profit venture.
Almost from its inception, CCX had a strong connection with the Atlanta-based Intercontinental Exchange, whose subsidiary is the International Petroleum Exchange, the world’s largest petroleum futures options market.
The other speculators were not to be left out. Where is IPX positioned? I’m not familiar with this group.
And people thought Madoff was news. It seems that Enron was likely a pilot program to test the viability of managed energy distribution. That, or they were a competing interest which was outmaneuvered. What they really needed was a universal, plausible “scientific” basis for their invented economy. Say, something like global warming. Yeah, that would have been smart and participation would have been mandatory and involuntary.
In any case, ostensibly, these revelations are the product of interests competing to retain their positions. Not that there is anything wrong with that.
I suggest we keep competing interests to promote competition and constrain the power wielded by morons with delusions of grandeur, wherever they may lurk.
Keep the facts a-comin’, n.n! Love it…
Igor
Igor:
Just bits and pieces. It’s still not clear who remains untainted. However, it is clear that individuals will betray, or affirm, their principles given sufficient incentive.
This is what I believe. The Democrats subscribe to an ideology which is fundamentally flawed. They are front-and-center in promoting most issues of substance which have a negative effect on America and her citizens. However, as I stated before, others, including Conservatives, are not exempt from corruption. There are certain agendas, which could not be successfully executed without the complicity of outside actors, including members of the Republican party (e.g., the so-called “RINO”). Maybe worse than the actual betrayal, is when they resort to admonitions of prejudice and bigotry (e.g., racism) to quell dissent. Not only do they subvert our interests, but they also demand we sit down and shut up. That is beyond the pale.