Everybody don't forget to thank Israel for the gas prices.

Anonymous wrote:

Does it really require much study to figure out the result would be a terrible recession?

Apparently MAGAs don't care about rising prices anymore, the prices are worth it to worship their king and own the libs.

^ adding - There could be “years of above $100, closer to $150 oil, which has profound implications in the economy” and an outcome of “a probably stark and steep recession”, he said.

Europe could face a shortage of energy and fuel as soon as next month without a reopening of the strait of Hormuz, Shell’s chief executive has said.

The boss of Europe’s biggest oil company said it was working with governments to help them address the oil and gas supply crisis, which has already led to energy rationing in Asian countries.

Anonymous wrote:

Anonymous wrote:^^^

Pretty odd. It's pretty clear that Trump wants out, but also that he has no realistic path to getting out in the short term.

Exactly. The market is betting that Trump will get out of trouble, but there doesn’t seem to be any way to do that this time.

Anonymous wrote:^^^

Pretty odd. It's pretty clear that Trump wants out, but also that he has no realistic path to getting out in the short term.

^^^

I’ve also seen multiple analysts indicate that the market is still expecting Trump to pull out so prices aren’t as high right now as they rightfully should be.

Crazy analysis from BCA Research, the worst is yet to come because we are currently mitigating impact with strategic reserves/surpluses/oil still in transit:

Over the past few days, BCA’s GeoMacro team has talked to several such firms – men and women who “count the molecules” – to produce Diagram 1. It is confusing, we admit. But it is the best that our collective wisdom could produce. It suggests that from February 28 to about April 19, the world is dealing with roughly a 4.5-5mb/d deficit of oil supply due to the closure of Hormuz, or 5% of global oil consumption.

For now, that number is manageable and fits somewhere in the “middling” range of crude supply losses over the past half-a-century (Chart 1). However, according to the conversations we had with energy experts and traders, as well as our own calculations, that number will double by mid-April, becoming the largest loss of crude supply.
....
Diagram 1 therefore suggests that, by mid-April, the world will be missing 9% of total crude supply. That is about half of the demand destruction experienced during the pandemic (Chart 2). Allow us to repeat that statement. By mid-April, the world will lose the equivalent number of crude supply that mirrors half of the loss of demand incurred while we were all hiding in our homes, hugging our loved ones, and hoarding spare toilet paper rolls for comfort.
....
The bottom line for us is that time is running out on the economy. All that President Trump has managed to muster for the next few weeks of potential kinetic action are 8,000 troops. Elite, for sure. But a minuscule number in comparison with past military operations in the region. That skews the risks for the White House towards a Jimmy Carter-like “Operation Eagle Claw” disaster.
....
In conclusion, we now have sufficient information to conclude that the world will approach the R Point (a supply-side induced recession) from Diagram 2 by mid-April.

I went to grocery store today and bought essentially the same staples I buy every week.and comparing last week to this week, $31 higher this week and I bought no meat or alcoholic beverages.

We are over here wasting billions in taxpayer dollars so that a pedophile can appease his supervisors into not releasing information about him by attacking a country and thereby rising the prices of a product that we need not really rely on in the first place.

Meanwhile, in China:

“China deploys solar power stations that unfold like a carpet and start generating electricity within hours.

These are real, containerized folding photovoltaic power stations, already in use at construction sites, disaster zones, and remote locations across China.

And it is deployed in under two hours with six workers.

While China invented this, America was busy watching its solar companies go bankrupt.“

-The stock market.news

Has there ever been a quicker collapse of a first world society? Another Trump record, I guess.

Anonymous wrote:Liberty, the lowest in Arlington, was $3.99 today

I remember gas being $4 per gallon back in 2008 or 2009, and at the time it was considered expensive. With inflation now it’s still cheaper than it was then.