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Business, Economics, and Taxes 2: That's Why We Fight to Take the Means Back

We learned nothing from Covid.

Too much energy (natural gas, and oil) is controlled in that region with no other travel outlets. Stupid design. This war appears to be a way for oil companies to make bank on their dying industry. You know they're just going to raise the prices and their expenses will not go up.
 
Kepler said:
Spike in Brent Crude overnight. It scraped up near $120 at one point.

An sober seeming economist on AJ said $150 by end of month and $200 before this is over. That would be bad, m'kay?
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Over on TikTok, Mr Global pointed out some great reasoning why there are issues with the reporting of the oil markets.


We're all aware that the markets are paper. Nothing actually gets traded despite "trading," its all speculative guessing.

With that said, current various oil markets around the world are trading at around $130/bbl (Dubai, Arab light, Kuwaiti, etc.) but some of that oil is trapped on a boat right now in the Strait of Hormuz. So the physical cost is slightly higher than the paper markets, adding up to $30/bbl more. So around $160/bbl.

But ours is currently trading at $90/bbl (spiking as you pointed out to $120/bbl overnight) which is damn cheap compared to paper $130/bbl or actual $160/bbl. And once the outside markets swoop in and start buying our "cheaper" oil, the price is going to start to equal.


The *other* tipping point Mr. Global has pointed out is that due to the reduction of tankers in the strait, we're approaching maximum capacity of storage in the Middle East. Production will start to slow soon if storage space, and the strait, don't resume full flow.

Which will cause the price per barrel to jump again.
 
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That loud crash you heard was the stock market opening.

Went to the gas station to fill up before prices exploded. Too late at most stations. but I managed to find one where the price hadn't changed yet. The one closest to me went up 20c/gallon (6%) overnight.

Someone want to ask the Pedophile Protector how the Dow is doing now?
 
bsky.app

Aaron Rupar (@atrupar.com)

Stephen Miller: "If all of this theft were stopped, it would be enough to balance the budget. The extraction of wealth from American taxpayers to people who don't belong here is the primary cause of the national debt."
bsky.app bsky.app

Fuck you Stephen Miller.

bsky.app

The Editorial Board (@editorialboard.bsky.social)

Miller substantiates the liberal allegation against Trump and the Republicans. They blame minorities for the crimes they themselves are committing against the American people. There is "extraction of wealth from American taxpayers," but it is not to "people who don't belong here." It's to them...
bsky.app bsky.app
 
aparch said:
$3.29/unl at Speedway and Thorntons by my house at 7:30am 3/18.
$4.29/unl at both at 4:30pm 3/18.
$3.99/unl at both at 8:00am 3.19.
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We blew right past $3.99 and are at $4.29 at the Speedway's down my way in Joliet/New Lenox... Some of the other brands that I don't usually visit have been holding on to the $3.99 barrier, but I feel they have slipped past it by today as well.
 
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