Gas prices are soaring…

[Mick1]

…why, Mr. President?

https://finance.yahoo.com/news/gasoline-prices-soar-us-seasonal-150412734.html

Audaces fortuna iuvat

[rjnwmill]

I saw an article that suggested the administration intends to refill the SPR. (However the weekly EIA data doesn’t show much accumulation to date.)  Simultaneously, China is now stockpiling crude.

When I wear my tin foil hat, I explain this coincidence easily. Biden needs something to sell in the second and third quarter of 2024 to cook the inflation numbers to support his reelection bid. I mean it worked like a charm during the 2022 off year cycle. China is accumulating oil now so they can liquidate excess reserves to support the Biden re-election effort as well. They have their best “friend”/stooge they own in the Whitehouse and see the advantages with four more years from their Manchurian Candidate.

Biden liquidated roughly 250,000,000 barrels to buy the democrats some wiggle room on inflation over the summer and fall of 2022. We can all watch the weekly EIA numbers to see how this unfolds as the 2024 cycle approaches.

Here's a toast with one last pour, may it last forever and a minute more;
Good fortune seems to you have sung, to live and love way past long

[Neodymium60]

Soaring prices should not happen.  But central planners are allocating resources and creating shortages to force a green agenda no matter how much pain they inflict on citizens.

I’d like to see an org chart of who is really behind this all.  At the top would be US Presidential Envoy of Climate John Kerry.  The position is a member of the US Security Council.  Kerry by the way will not reveal who is on his staff of at least 45 and he will not acknowledge what they are required to do under current law.

 

• This reply was modified 2 years, 7 months ago by Neodymium60.
• This reply was modified 2 years, 7 months ago by Neodymium60.

[Neodymium60]

This is getting interesting.  Cushing Hub inventories at near historical lows.   Export demand at historic highs and high interest rates are pushing the cost of storage up. Rig counts continue to decline.

Rising prices are a political problem and it’s going to be pretty hard to control this intentional mess.

https://www.reuters.com/markets/commodities/cushing-oil-hubs-low-levels-spur-quality-operational-price-worries-2023-09-26/#:~:text=Cushing%20is%20strategically%20located%20to,to%20Gulf%20Coast%20export%20ports.

[rjnwmill]

I don’t know about you Neo, but I can’t wait to hear KJP’s monologue/excuses explaining $95 oil.

Trump has a chance to exacerbate that “political problem” you mentioned with a strong narrative. Is he up to the task?

Here's a toast with one last pour, may it last forever and a minute more;
Good fortune seems to you have sung, to live and love way past long

[Neodymium60]

It’s an eye roller for KJP.   After all high prices and shortages are part of the plan.

Shortages > higher prices > less travel > EVs > work at home >Lockdown > mail in ballots

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