Gas prices

[Hkindiana]

Gas stations or any other business don't want $100 bills anymore. They are too easy to counterfeit.

Pat Sullivan was discussing this about his hardware stores recently. The predominance of counterfeiting is supposedly huge.


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The $100 bill has the MOST security features of ANY of our bills, and it is the most difficult to accurately counterfeit.

 

[bwframe]

The $100 bill has the MOST security features of ANY of our bills, and it is the most difficult to accurately counterfeit.

Except for the old ones, still in circulation. My understanding is that those are what is counterfeited?


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[jwamplerusa]

Just to be clear, the current energy prices are no accident! The escalation in energy prices has been orchestrated in an effort to make "acceptable" forms of green energy more desirable.

The preceding of course completely ignores the cost benefit realities of their preferred solutions which are not cost competitive without subsidies, are not throttle-able, and cannot be relied upon during peak demand periods.

My Hope is that the useful idiots who helped get the current vegetable defiling the White House in office will have exposed themselves so severely by November that many of those who have enabled this will find themselves unemployed from Congress.

Sadly regardless of what happens in November or in 2024 it is too late! The effects of inflation in the commodity leading inflation broadly hitting the economy, energy prices, will have done its damage. We may avoid entering hyperinflation, but we will only do so by entering a severe recession.

I am reminded of what my father said on more than one occasion. It's a recession if you can keep your job, it's a depression if you end up unemployed.

 

[jamil]

Just to be clear, the current energy prices are no accident! The escalation in energy prices has been orchestrated in an effort to make "acceptable" forms of green energy more desirable.

The preceding of course completely ignores the cost benefit realities of their preferred solutions which are not cost competitive without subsidies, are not throttle-able, and cannot be relied upon during peak demand periods.

My Hope is that the useful idiots who helped get the current vegetable defiling the White House in office will have exposed themselves so severely by November that many of those who have enabled this will find themselves unemployed from Congress.

Sadly regardless of what happens in November or in 2024 it is too late! The effects of inflation in the commodity leading inflation broadly hitting the economy, energy prices, will have done its damage. We may avoid entering hyperinflation, but we will only do so by entering a severe recession.

I am reminded of what my father said on more than one occasion. It's a recession if you can keep your job, it's a depression if you end up unemployed.

This is what it looks like to me. Democrats have an ideological aversion to fossil fuels. So they place landmines in the process to drive up fuel costs so that more effort goes into adopting green energy, sooner. But because people are feeling the pain right now, and there's an election coming, they have to act like that's not what they're doing. So they say stuff like, oh, there are plenty of leases, the O&G industry aren't making use of those so it's all on them. They're driving prices up for the purposes of profiteering.

But they're not talking about all the landmines they've placed in the process. Like why aren't they allowing increased production in the gulf? Oops, a calculation error? Really?

Nah. I think they're ideologically opposed to continuing with fossil fuels and they want people to look to green sources of energy to replace them now. I think that's what Joe Biden's comments were about where he again accidentally said the quiet parts out loud. That it's painful now, but after it's over we'll be better for it, or something to that effect. They believe that their dirty tricks employed now will pay off in the form of a grateful nation when we're no longer using fossil fuels, regardless the cost.

 

[DadSmith]

$4.44 for gasoline
$5.26 for diesel
Last night in Lawrenceburg.

 

[Hkindiana]

Except for the old ones, still in circulation. My understanding is that those are what is counterfeited?


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Simple solution - only accept NEW STYLE $100 bills with all of the security features. Besides, the old bills have not been manufactured (by the USTreasury) since 1995, and you rarely see them anymore

 

[Ingomike]

This is what it looks like to me. Democrats have an ideological aversion to fossil fuels. So they place landmines in the process to drive up fuel costs so that more effort goes into adopting green energy, sooner. But because people are feeling the pain right now, and there's an election coming, they have to act like that's not what they're doing. So they say stuff like, oh, there are plenty of leases, the O&G industry aren't making use of those so it's all on them. They're driving prices up for the purposes of profiteering.

But they're not talking about all the landmines they've placed in the process. Like why aren't they allowing increased production in the gulf? Oops, a calculation error? Really?

Nah. I think they're ideologically opposed to continuing with fossil fuels and they want people to look to green sources of energy to replace them now. I think that's what Joe Biden's comments were about where he again accidentally said the quiet parts out loud. That it's painful now, but after it's over we'll be better for it, or something to that effect. They believe that their dirty tricks employed now will pay off in the form of a grateful nation when we're no longer using fossil fuels, regardless the cost.

Good post…

 

[Ingomike]

Simple solution - only accept NEW STYLE $100 bills with all of the security features. Besides, the old bills have not been manufactured (by the USTreasury) since 1995, and you rarely see them anymore

Whoa, here, some folks save money for rainy days in cash. This is untenable…

 

[Tryin']

Whoa, here, some folks save money for rainy days in cash. This is untenable…

I switch my rainy day funds into new bills whenever significant updates are made to my preferred denomination.

 

[churchmouse]

This is what it looks like to me. Democrats have an ideological aversion to fossil fuels. So they place landmines in the process to drive up fuel costs so that more effort goes into adopting green energy, sooner. But because people are feeling the pain right now, and there's an election coming, they have to act like that's not what they're doing. So they say stuff like, oh, there are plenty of leases, the O&G industry aren't making use of those so it's all on them. They're driving prices up for the purposes of profiteering.

But they're not talking about all the landmines they've placed in the process. Like why aren't they allowing increased production in the gulf? Oops, a calculation error? Really?

Nah. I think they're ideologically opposed to continuing with fossil fuels and they want people to look to green sources of energy to replace them now. I think that's what Joe Biden's comments were about where he again accidentally said the quiet parts out loud. That it's painful now, but after it's over we'll be better for it, or something to that effect. They believe that their dirty tricks employed now will pay off in the form of a grateful nation when we're no longer using fossil fuels, regardless the cost.

"WINNER"

 

[Ingomike]

I switch my rainy day funds into new bills whenever significant updates are made to my preferred denomination.

You may not be planning on as bad a rainy day as some…

 

[Tryin']

You may not be planning on as bad a rainy day as some…

All the more reason to keep up with currency changes. It's really not that hard for me to do over the course of two or three months.

If you are literally burying cash in the backyard, it doesn't matter because you aren't using it anyway and it will be worthless by the time you get around to using it.

I keep my skills, food, and ammo up to date as well.

 

[bwframe]

Simple solution - only accept NEW STYLE $100 bills with all of the security features. Besides, the old bills have not been manufactured (by the USTreasury) since 1995, and you rarely see them anymore

I understand the thought process, but I'm not sure it works. Practically, you take 100's or you don't. Thus not accepting 100's at all, as was expressed by Sullivan Hardware owner about his business and others.

I'd have to disagree about rarely see old hundreds. I see at least a couple old 100's out of every grand that I get from the bank.


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[Ingomike]

I understand the thought process, but I'm not sure it works. Practically, you take 100's or you don't. Thus not accepting 100's at all, as was expressed by Sullivan Hardware owner about his business and others.

I'd have to disagree about rarely see old hundreds. I see at least a couple old 100's out of every grand that I get from the bank.


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Same here. Just got several old style from the bank last week…

 

[smokingman]

As I pointed out earlier in this thread Biden's EPA had forced the shut down of one refinery(it is actually 3 including two smaller that had been operating under exemptions that allowed them to not blend bio fuel in),but we actually have 5 that could be fairly easily be brought back online in the USA(3 of them shutter/mothballed pre Biden,one during Trump,2 during Obama).

EPA orders controversial oil refinery to shut down after multiple accidents and ‘imminent’ threat to health

The refinery on St. Croix in the Virgin Islands has had releases of sulfuric gases and hydrocarbons.

thehill.com

Now on to yesterday. Point number 6 on markets is this quote.

Personal Income, PCE Data, Ethereum Slump, Wheat Deadlock - What's Moving Markets By Investing.com

Personal Income, PCE Data, Ethereum Slump, Wheat Deadlock - What's Moving Markets

www.investing.com

"Biden Administration is rethinking its energy policy increased on Thursday as Bloomberg reported that it is asking the oil industry about the possibility of reopening shuttered refineries to increase domestic supplies and bring prices down before it is too late to stop them having a decisive impact on the mid-term elections in November."

The primary thing existing functioning refineries are dealing with is blending in bio to meet EPA requirements(which went up in January). With ethanol hitting record prices,and that ethanol plant fire in Illinois that was finally put out last week not helping supply or price. The EPA has thus far denied 65 applications(small and micro refineries in the USA...pretty much all of them) for exemptions based on financial hardship(mostly from having to blend in Ethanol). Some small and micro refineries have just shut down on their own as they could not meet the bio requirements and remain viable(some as far back as 2020).
https://www.eia.gov/petroleum/refinerycapacity/table13.pdf (full list not updated for 2022,and I am sure it is larger now)

Our current refining capacity has fallen back to 2015 levels.

Refinery closures decreased U.S. refinery capacity during 2020

www.eia.gov

 

[Ingomike]

 

[smokingman]

Oil jumped today after the partial ban on Russian exports passed in the EU.
It hit $122.87 but fell to $117.52 after markets in Europe closed.

Crude Oil Futures Price Today (WTI) - Investing.com

Explore real-time Crude Oil futures price data and key metrics crucial for understanding and navigating the Crude Oil Futures market.

www.investing.com

Just a reminder Germany less than 2 months ago said a ban on Russian oil would cause $200+ a barrel oil and 6% of their GDP.

Expect it to continue to rise here,as we(USA) are a "key" to filling the gap per Roberta Metsola(President of the EU).

 

[DragonGunner]

All the more reason to keep up with currency changes. It's really not that hard for me to do over the course of two or three months.

If you are literally burying cash in the backyard, it doesn't matter because you aren't using it anyway and it will be worthless by the time you get around to using it.

I keep my skills, food, and ammo up to date as well.

Mine has never failed me…?

 

[KittySlayer]

I switch my rainy day funds into new bills whenever significant updates are made to my preferred denomination.

So do you walk into the bank and just ask for new bills?

Any bank or your own bank?

Any of the $10k transaction reporting to deal with?

 

[Ark]

Oil jumped today after the partial ban on Russian exports passed in the EU.
It hit $122.87 but fell to $117.52 after markets in Europe closed.

Crude Oil Futures Price Today (WTI) - Investing.com

Explore real-time Crude Oil futures price data and key metrics crucial for understanding and navigating the Crude Oil Futures market.

www.investing.com

Just a reminder Germany less than 2 months ago said a ban on Russian oil would cause $200+ a barrel oil and 6% of their GDP.

Expect it to continue to rise here,as we(USA) are a "key" to filling the gap per Roberta Metsola(President of the EU).

It's a pretty wimpy "ban", in fairness. Not even turning off the pipeline.

Expect more American oil shipped overseas at higher prices while India and China get $50 off per barrel.