Category Archives: U.S.

Business/Economics, U.S.

Think gas is high now, wait ’till May. Or: How you can predict next month’s gas prices

Unleaded gasoline is traded on the commodity market.  That’s the price you need to watch.  Oil prices only affect gas prices indirectly.  Yes, as oil prices go up so will eventually gas prices, but for a direct cause watch refined unleaded gas prices (if you use Diesel watch Diesel futures prices).

Oil and gas are traded in the commodities markets as “futures”.  That because they are being bought in advance.  Example: Today’s unleaded gas “futures”, being sold in the commodities market, is for May “deliveries”.  So today’s “market” price of gas is actually for gas that will be sold at gas stations in the month of May.

What is today’s market price for gas? As of April 20, the closing price was $3.25 per gallon.  That price is not paid for by the gas station you get your gas from (and evil “speculators” looking to make fast profits).  It’s the price paid by the companies who supply it to the gas stations.  Of course they need to make a profit, so they’re going to charge the gas stations more.  This is why gas station owners, especially the independents, says they make only a few cents profit on every gallon.

Now, to explain how you can predict next month’s gas prices.

On April 18, the average “retail” price of gas at the pump, in the United States, was $3.84.   The April “futures” price was, on March 21, $2.98 per gallon.  That’s almost a full dollar difference.  You can see that’s not much of a profit split between the gas stations, and the gas suppliers.  But you can also predict how much we’re going to be paying in May.  It’s not good.

Current May “futures” are around $3.25 per gallon.  Add about a dollar for profit and you can see that average “retail” price at the pump, in May, is going to be around $4.25.  Ain’t no trick to it, just stop paying attention to the stock markets, and start paying attention to commodity markets.  What ever is the “future” price of gas that day, just add about a dollar to it to estimate what you’ll be paying at the pump in the next month.  This also applies to Diesel prices.  Also, if you live in the evil state of California, your prices are going to be much higher, due to federal, outrageous state, and even outrageous local gas taxes.  You might as well add at least two dollars onto the commodity market price of gas.

Business/Economics, International, U.S.

Former U.S. official supports my earlier posts, saying Libya is about oil & China

In an earlier posting I warned that the Libyan situation could lead to World War 3.  It’s all about not letting China have Libya’s oil.

Former U.S. Treasury official, Dr. Paul Craig Roberts, admitted to Iranian media, that the so called rebellion in Libya was about oil, and not letting China have it: “In my opinion, what this is about is to eliminate China from the Mediterranean. China has extensive energy investments and construction investments in Libya.”

Roberts says the real reason the United States wants Gaddafi out, is because he refused to join the U.S. created United States African Command, which was created to counter China’s influence in the region: “The U.S. is countering this by organizing the United States African Command (USAC), which Qaddafi refused to join. So that’s the second reason for the Americans to want Qaddafi out.”

Roberts says if NATO succeeds in Libya, Syria and then Iran will be next: “If NATO, which is now the cover for the ‘world community,’ succeeds in overthrowing Qaddafi, the next target will be Syria. Iran is a major target because it is an independent state that is not a puppet of the Western colonialists.”

Roberts warned that this could lead to World War 3.  He compared what the U.S. and U.K. did to Japan before World War 2: “In my opinion, what is going on is comparable to what the U.S. and Britain did to Japan in the 1930s. When they cut Japan off from oil, from rubber, from minerals; that was the origin of World War II in the pacific. And now the Americans and the British are doing the same thing to China.”

There is much more to the interview by Press TV

International, U.S.

Source of Iraq WMD claim, now says he lied

“Maybe I was right, maybe I was not right.  I had a problem with the Saddam regime. I wanted to get rid of him and now I had this chance.”- Rafid Ahmed Alwan al-Janabi, codenamed “Curveball”

The man that was the source for Bush Jr’s claim that Iraq had weapons of mass destruction, codenamed Curveball, has admitted that he made the whole thing up.

Curveball was interviewed by the U.K. newspaper, The Guardian.  Colin Powell was made a fool when he went before the United Nations, with a speech based on Curveball’s lies.  Curveball says he was shocked to see that the U.S. actually believed his lies.

Curveball (Rafid Ahmed Alwan al-Janabi) made up the story about mobile WMD labs. He claimed he actually worked in one. Now he says it was all lies.  As of today, April 21, 2011, no WMDs have been found in Iraq.

Business/Economics, International, Technology, U.S.

BP blames rig owner for Gulf of Mexico oil disaster

British Petroleum is suing Transocean for at least $40 billion in damages.  BP claims the worst offshore oil spill in U.S. history was caused by the failure of every safety system on the Deepwater Horizon rig.

BP is also suing Cameron International, claiming they provided a faulty blowout preventer.

Transocean, and Cameron International are suing BP, saying British Petroleum caused the problems, by making decisions based on cost savings, not safety.

Transocean is also suing Cameron International, and Halliburton, as well.

Business/Economics, International, U.S.

More details about extended Toyota factory cuts

On Tuesday Toyota announced more cuts for North American factories, now more cuts in Europe and China.

For Europe Toyota announced that they will cut production, after the already scheduled production halt for the end of this month.  The reason is lack of electronic parts.  Toyota’s Chinese factories will also see production cuts, in some cases production will be down to 30%.  The production cuts, around the world, could last past May.

 

International, Opinion, U.S.

U.S. Admiral says the first 8 years in Afghanistan were incorrectly “resourced”

“Resourced”?  Is this new mil-speak for “operational planning”? Or “tactics”?  How about pull your head out!

In an official announcement made on the Joint Chiefs of Staff web site, U.S. Admiral Michael Mullen, admitted that the U.S. was totally screwed up for the first eight years of the occupation of Afghanistan, ‘cept it wasn’t quite put like that in the official statement: Although the United States has been in Afghanistan for 10 years, the chairman said, only over the last 18 months has the effort been resourced correctly.

So basically, the first eight years were ‘incorrectly resourced’.  This is the new way to say you’ve F’ed up, without actually saying it.

 

International, Opinion, U.S.

Obama lied about leaving Afgahnistan, U.S. will stay beyond 2014

In an interview with a Pakistani news station, GEO TV,  U.S. Admiral Michael Mullen said the U.S. will maintain bases beyond the 2014 troop pull out.

He also contradicted himself saying the U.S. will not maintain bases in Afghanistan.  Mullen said that Bagram and Shindand air bases will be used by the U.S. to continue training Afghan government forces.   It could be that officially the bases will be maintained by Afghan forces, yet there will be a U.S. “presence” on those bases.  Talking out of both sides of your mouth is becoming a common thing with our leaders.

International, U.S.

U.S. to begin withdrawing Marines from Okinawa

For decades Japanese living on Okinawa have demanded that U.S. forces leave.  They might be getting their wish.

Internal U.S. Marine Corps documents obtained by NHK revealed a plan to reduce the number of Marines by 8,000.  The Marines would be relocated to the U.S. territory of Guam.

It still leaves about 10,000 personnel at the Futenma Air Station on Okinawa, but, eventually the air base will be moved as well.  There is a meeting between U.S. and Japanese officials, to work out details, scheduled for June.

International, U.S.

Obama considering sending food to North Korea

After giving a speech that implied that social programs for citizens of the U.S., such as Food Stamps, would have to be cut, President Obama is considering sending food to North Korea.

U.S. Special Envoy, Robert King, made the announcement in response to the UN World Food Program’s call for 430,000 tons of food aid to North Korea.  The United States canceled food aid about two years ago, because of North Korea’s nuclear weapons program.

International, Opinion, U.S.

Obama giving Libyan Rebels $25 million, after giving speech saying the U.S. needs to cut domestic spending

To the people of the United States it’s one slap in the face after another.  Recently President Obama gave a speech saying cuts need to be made to U.S. government spending.  Then he gives $3 million so some students can study in China, and now he’s giving Libyan rebels $25 million in equipment!

On April 20, U.S. Secretary of State Hillary Clinton made the announcement.  Obama is joining with United Kingdom, France and Italy in openly taking sides with Libyan militants, some of who might actually be al-Qaeda, according to military officials, including NATO boss U.S. Admiral James Stavridis.