As We All Expected... Energy Prices Are Surging.
From Greg M
(Bloomberg) -- The price of gasoline is starting to surge everywhere, an inflationary omen for central banks and governments the world over.
Futures just soared to a nine-month high in New York, sending shock waves through to the pump, while prices have also been rising in Asia. Markets for the motor fuel have tightened worldwide due to a combination of unexpected refinery outages plus lower-than-normal stockpiles in key storage hubs such as the US Gulf Coast and Singapore for this time of the year.
In global energy markets, it’s telling that while crude oil futures are little changed year-to-date, US gasoline contracts have rallied by more than 20%.
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Where’s the outrage?
“He who is not angry when there is just cause for anger is immoral. Why? Because anger looks to the good of justice. And if you can live amid injustice without anger, you are immoral as well as unjust.” -St. Thomas Aquinas-
“The illusion of freedom will continue for as long as it’s profitable to continue the illusion. At the point where the illusion becomes too expensive to maintain, they will take down the scenery, move the tables and chairs out of the way, then they will pull back the curtains and you will see the brick wall at the back of the theater.” – Frank Zappa TURN OFF YOUR TELEVISION!
"Human history began as an act of disobedience, and it is not unlikely that it will be terminated by an act of obedience. At this point in history the capacity to doubt, to criticize and to disobey may be all that stands between a future for mankind and the end of civilization." - Erich Fromm-
“The Communists’ chief purpose is to destroy every form of independence—independent work, independent action, independent property, independent thought, an independent mind, or an independent man. Conformity, alikeness, servility, submission and obedience are necessary to establish a Communist slave-state.” -Ayn Rand-
“Every record has been destroyed or falsified, every book rewritten, every picture has been repainted, every statue and street building has been renamed, every date has been altered. And the process is continuing day by day and minute by minute. History has stopped. Nothing exists except an endless present in which the party is always right.” -George Orwell-
“Five percent of the people think; ten percent of the people think they think; and the other eighty-five percent would rather die than think.” -Thomas Edison-
WTI @ 80usd, long1 & 2 still running.