Why the spike in the price of gas at the pump?
“While investigating the death of a friend and fellow cop, Los Angeles police officer Barney Caine (George C. Scott) stumbles across evidence that Nazis created a synthetic alternative to gasoline during World War II. This revelation has the potential to end the established global oil industry, making the formula a very valuable and dangerous piece of information. Eventually, Caine must contend with oil tycoon Adam Steiffel (Marlon Brando), who clearly has his own agenda regarding the formula.”
—–Synopsis by IMDb
Here are a couple of clips from the 1980 film, ” The Formula”:
“White House officials are scrambling to show Americans that they’re paying close attention to rising prices after federal data released Wednesday showed inflation rising far above expectations in October.
The consumer price index, which tracks inflation for a range of staple goods and services, rose 0.9 percent last month and 6.2 percent in the 12 months leading into October, the highest annual inflation rate since November 1990.
Most of October’s inflation was driven by soaring energy and food prices – a gut punch for cash-strapped families and a political nightmare for the Biden administration…”
—-The Hill
https://thehill.com/policy/finance/581060-biden-gets-inflation-gut-punch
(The Hill is a top US political website, read by the White House and more lawmakers than any other site…)
In my view, the current spike in gas prices at the pump is not a financial accident or economic coincidence.
The people who control and manipulate the vagaries of gas and oil production and prices in this country are not friends of Joe Biden or Democracy.
They are not “the Arabs” either…
11/15/2021 @ 12:08 pm
I learned this back in 1973 or 1974. The Arab oil embargo was in progress. I lived in the Washington, DC suburbs and my occupation entailed (and still does) driving for a living. In my area, people were allowed to buy gas every other day based on whether their license plate number was even or odd. Because of our living, my father and I had exemptions. The lines were pretty bad.
But I drive for a living and I went to New Jersey to see customers. What did I find there? Sharp prices and no lines. There were no Congressmen or their families in New Jersey to convince that we had an actual shortage so supplies there were fine.
We have subsequently been shown another example. Do you know who first discovered that climate change was man-made and causing a growing problem? It was also in the 1970’s and it was not China, who at that point didn’t have the technology to figure that out. It was Exxon scientists who found it because they were studying formulas for reducing emissions so they were of course studying emissions and their consequences. Once Exxon figured out that this could be bad for business they shut their guys up.
But now I’m not completely sure where they stand. A very interesting thing happened when Trump was planning to pull out of the Paris accords. The only major companies in the US who supported the move were coal companies. Oil companies did not and were vocal about it (as were GM, GE, and Goldman Sacks). Both Exxon/Mobil and Chevron issued statements in opposition to withdrawing from the Paris Accords. I’m not sure who’s where when it comes to elections now. Corporate support in 2020 was way more behind Biden than Trump. They’d had it with Trump for blowing both the tariff situation with China and COVID response.
11/15/2021 @ 1:01 pm
There was a time when traveling through northern New Jersey on I-95 for miles around, you could smell the reason why gas and oil availability and prices in that state seemed reasonable and stable….
11/16/2021 @ 1:58 pm
Maybe STRANGE MAGIC will save us.
After all, ‘DIG-it-al’ time is synonymous with military time.
I’ve vivid recollection of losing a good middling school job sometime deep in the heart of the 1970’s gasoline crisis. Timely I’d leave my lakeside campus in that huge, broken-shock cumbersome Ford station wagon for the crosstown J.C. Penney’s warehouse where we’d continuously heft huge boxed textiles from the Carolinas for national big-rig distribution to hither and yon. Yeah tote that barge – lift that bale. Inevitably I’d get stuck in an around-the=block gasoline station waiting line: 20 minutes, an hour and a half— burning more fuel than I could afford to buy—the stalwart boss with his WIN [whip inflation now] lapel pin cross-armed at the time clock. Tap-tap. Tick-tock. Good day for a windsock. Older now … really? Sorry to lapse all ‘fire and rain’ … for sure: those forklifts and continental drift {…}
11/16/2021 @ 2:53 pm
{…} before she sleeps in the sand {…}