I used to live in NH and over there the gas is 2.45 per gallon now. I know CA taxes about 30 cents more so the price should be 2.80 per gallon and not $4.2. The reason is that they say one refinery caught fire!! and the other one has yearly maintenance shutdown!!!! and there is a strike in the other two!!!!. I am 5000% sure these are well orchestrated to keep gas prices high.
I am in big favor of buying gold now (preferably selling naked PUT for lower strike prices). Now everyone hates GLD and miners are not profitable anymore. I don't believe Gold will go to $1400 but we should have an upside move soon.
They've literally been pulling this refinery stunt for decades - it's both a surprise (and non-surprise) no investigation has been done on the various refinery owners.
It reminds of Enron calling the power stations and asking them to shut down. I emailed my district congressman and expressed my opinion. I know it wont have any effect but if 5000 people do that, they will under pressure to ask those in charge not to prolong this scam.
I am in TN and it is around $2.35 right now. They always have an excuse for the price in CA that's for sure
Breaking down. Get ready for the flack, RM. I think we are going to see 209.99 on the SPY today. The down slope is almost perfect. Same with the VIX going up.
Sounds eerily similar to the Enron "rolling blackouts" from about 15 years ago. [oops I see Hajimow said the same thing above]