Gas prices

[smokingman]

Well, we can guess where 10% of it went

It is worse than that. It is in limbo. According to the DOE the money is not due to be paid to the US Treasury until December 31st,no matter how much of the reserve is sold. So someone is using roughly 10+ trillion USD they have made until then. Who is my question. Just the interest they could make with that much cash is making someone VERY wealthy(that much cash would never be sat on for months). We are talking 1/3rd of our entire deficit.
Congress should start NOW to use that money when it comes in to pay toward our debt period. By the time they are done in October it is likely 1/2 or more of our total debt could be paid.

 

[nra4ever]

Iran's Oil Revenues Soar By 580% As Crude Prices Rally

Iran's revenues from exports of oil and condensate surged by 580% during the first four months of the current Iranian year that begins on March 21

finance.yahoo.com

 

[smokingman]

US diesel exports climb to record highs as rest of world faces shortages

 

[Magyars]

Pulled this off of Ice Age Farmer site....

A close friend farms over 10,000 acres of corn in the mid-west. The property is spread out over 3 counties. His operation is a "partnership farm" with John Deere. They use the larger farm operations as demonstration projects for promotion and development of new equipment. He recently received a phone call from his John Deere representative, and they want the farm to go to electric tractors and combines in 2023. He currently has 5 diesel combines that cost $900,000 each that are traded in every 3 years. Also, over 10 really BIG tractors. JD wants him to go all electric soon.

He said: "Ok, I have some questions.

- How do I charge these combines when they are 3 counties away from the shop in the middle of a cornfield, in the middle of nowhere?

- How do I run them 24 hours a day for 10 or 12 days straight when the harvest is ready, and the weather is coming in?

- How do I get a 50,000+ lb. combine that takes up the width of an entire road back to the shop 20 miles away when the battery goes dead?

There was dead silence on the other end of the phone.

When the corn is ready to harvest, it has to have the proper sugar and moisture content. If it is too wet, it has to be put in giant dryers that burn natural or propane gas, and lots of it. Harvest time is critical because if it degrades in sugar content or quality, it can drop the value of his crop by half a million dollars or more. It is analyzed at time of sale. It is standard procedure to run these machines 10 to 12 days straight, 24 hours a day at peak harvest time. When they need fuel, a tanker truck delivers it, and the machines keep going. John Deere's only answer is "we're working on it." They are being pushed by the Zero carbon agenda to force these electric machines on the American farmer.

These people are out of control. They are messing with the production of food crops that feed people and livestock... all in the name of their "green dream."
Look for the cost of your box of cornflakes to triple in the next 24 months...”

 

[smokingman]

Source: Bloomberg

There was a 4.7mm drain from Strategic Midterm Reserve(this week) brings total down to 470 million barrels, lowest since May 1985.

WTI Reverses OPEC+ Gains After Big Surprise Crude Build | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

The good news is the price at the pump is stable(not rising). The bad news it is likely to not come down much as US refineries cut back and are now producing at 91% of capacity(was 97%),even with large inventory builds.

 

[jamil]

Pulled this off of Ice Age Farmer site....

A close friend farms over 10,000 acres of corn in the mid-west. The property is spread out over 3 counties. His operation is a "partnership farm" with John Deere. They use the larger farm operations as demonstration projects for promotion and development of new equipment. He recently received a phone call from his John Deere representative, and they want the farm to go to electric tractors and combines in 2023. He currently has 5 diesel combines that cost $900,000 each that are traded in every 3 years. Also, over 10 really BIG tractors. JD wants him to go all electric soon.

He said: "Ok, I have some questions.

- How do I charge these combines when they are 3 counties away from the shop in the middle of a cornfield, in the middle of nowhere?

- How do I run them 24 hours a day for 10 or 12 days straight when the harvest is ready, and the weather is coming in?

- How do I get a 50,000+ lb. combine that takes up the width of an entire road back to the shop 20 miles away when the battery goes dead?

There was dead silence on the other end of the phone.

When the corn is ready to harvest, it has to have the proper sugar and moisture content. If it is too wet, it has to be put in giant dryers that burn natural or propane gas, and lots of it. Harvest time is critical because if it degrades in sugar content or quality, it can drop the value of his crop by half a million dollars or more. It is analyzed at time of sale. It is standard procedure to run these machines 10 to 12 days straight, 24 hours a day at peak harvest time. When they need fuel, a tanker truck delivers it, and the machines keep going. John Deere's only answer is "we're working on it." They are being pushed by the Zero carbon agenda to force these electric machines on the American farmer.

These people are out of control. They are messing with the production of food crops that feed people and livestock... all in the name of their "green dream."
Look for the cost of your box of cornflakes to triple in the next 24 months...”

3X in 24 months? Could be much higher than that depending on how things go. I can think of a few scenarios where, there just aren't any corn flakes.

 

[DadSmith]

This thread reminded me of this verse.

Proverbs 29:2 KJV
When the righteous are in authority, the people rejoice: but when the wicked beareth rule, the people mourn.

 

[Tryin']

Dropping like a brick now. Saw $3.59 on my way home.

 

[mom45]

I saw $3.67 last night in Plymouth at Walmart. Love's was a dime higher.

 

[BugI02]

Dropping like a brick now. Saw $3.59 on my way home.

Got to get it down low enough so even though it is still 40% higher than when sock puppet took office it seems cheap compared to when it was double that price - not to mention the ripple effect of fuel prices on the price of everything moved by truck, which is basically everything

 

[dlandersson]

He's done everything he can to torpedo us.
And last night he announced his plan is to double down

I never really appreciated Obama's observation of Biden "don't underestimation the ability of Joe to f--- things up".

 

[dlandersson]

This thread reminded me of this verse.

Proverbs 29:2 KJV
When the righteous are in authority, the people rejoice: but when the wicked beareth rule, the people mourn.

Very nice. I may add that to my e-mail signature. Thx.

 

[HoughMade]

When will gas lines and rationing start?

Went to Country Mark to fill up four 5 gallon cans with ethanol free gas. The pump automatically shut off at $75 before I could fill all four cans. Had to restart another transaction to finish my fill up.

In reality this is probably because the pumps are unattended so it limits a potential large scale spill if something gets jacked up.

The $75 limit per transaction for some credit cards at some stations has been a thing for a long time. I first started to notice it when I got a vehicle with a large gas tank, but that was over 10 years ago.

[ETA] Note the date of this thread- 2008:

https://www.thehulltruth.com/dockside-chat/179873-why-fuel-pumps-gas-stations-only-give-out-75-time-here-email-i-got-back.html

 

[d.kaufman]

Was $3.88 this morning on my way to work but $4.19 on my way home today

 

[jamil]

So what did Biden do to get gas prices to drop?

 

[DoggyDaddy]

So what did Biden do to get gas prices to drop?

He whispered in a creepy threatening manner to the oil companies.

 

[d.kaufman]

He whispered in a creepy manner, while sniffing their hair, to the oil companies.

FTFY

 

[hooky]

$3.49 in Greenwood at Costco tonight.

 

[GodFearinGunTotin]

Diesel is $5.09 in Mitchell today.

 

[dudley0]

Had a station open up in Upland. Now there are three in the little town. The new place has been cutting fuel prices and making the others follow suit. Been great for me as I have a project going on there.

I did hear that one station waits for the new one to close for the evening and then bumps their prices up until morning when the new place opens again. That's kind of crap in my opinion, but I guess locals are starting to boycott them for it.