It seems like it was only a few weeks ago that Emperor Barack Obama was practically throwing out a rotator cuff patting himself on the back over low gas prices. During the 2015 State of the Union address Barry proclaimed that “Thanks to lower gas prices and higher fuel standards, the typical family this year should save $750 at the pump”. There were also calls for taking advantage of the huge drop to stick it to Americans through the implementation of a new gas tax. The gas tax even had bipartisan support that cut across the ideological spectrum from former Obama economic commissar Lawrence Summers to conservative intellectual Charles Krauthammer. The pigs on Wall Street were squealing themselves hoarse over lost speculative money and the domestic shale industry seemed to be on the ropes. Then reality struck.
Prices at the pump are heading into the stratosphere again with no end in sight. In area where I live in west central Florida I was paying 1.89 a gallon for unleaded less than a month ago and it is now 2.39 a gallon at all local stations. So much for free markets when such blatantly obvious price fixing exists but it could always be worse because at least I don’t live in California.
According to a piece at the libertarian leaning financial blog Zero Hedge entitled“Meanwhile In California, Unambiguously Ungood…”:
Having discovered this week what Americans are spending their “gas savings” on, and noted that nationwide gas prices are rising at the fastest pace in over a decade; as AP reports, for Californians, it’s considerably worse as gas prices have soared 60c to $3.23 per gallon in the last few weeks. Between refinery shutdowns (due to strikes and explosions) removing 17% of California’s production, and the seasonal shift to the less-polluting summer blend of gas mandated in California, supply remains drastically short spiking prices 20-30c on Thursday alone as one gas station owner exclaimed, in 48 years “I’ve never seen anything like this kind of [price spike].”
The piece draws from an AP story “Gas prices soar in California as supply shrinks”. The excuses are a labor strike at a number of U.S. refineries and a convenient refinery fire but there is little doubt that the Wall Street gamblers are exalting. God forbid that those high-rolling, government subsidized assholes have to go out and get real jobs. The refinery strike set a floor under falling prices and then every shill in the corrupt financial media began jawboning it. Think of the movie Wall Street and “Blue Horseshoe loves Anacott Steel” and you get the picture. Americans are being whiplashed again but they should be used to getting anally raped with Tabasco enhanced lube in the great banana republic of Obamastan by now.
Oil prices continue to be low with Brent crude falling to 49 bucks and change per barrel so it’s not a supply problem as is being reported by the media. The rise in gas prices will ensure that there will be no relief when it comes to already through the roof food costs because with little actual local agriculture or other industry left the only way to get stuff to the grocery stores is by truck. It is looking likely that we may soon be seeing the crushing $4 per gallon mark again sooner rather than later.
Now aren’t you glad that that big gas tax didn’t get implemented – at least not yet anyway.