Today’s Gas & Diesel Price Updates

Good news. The Dollar Index against all the world’s major currencies is now at 85.06 cents. I have always said the dollar should be worth, well, a dollar. We can buy more goods in the world. More importantly for our fuel prices, crude is traded in dollars so as the dollar goes up, the price of crude goes down. The dollar is the highest it has been since June, 2010 and has had the longest weekly growth since 1967. The dollar dropped at the same time that Quantitative Easing began, gasoline prices climbed, and it is no coincidence that when the Fed quits diluting our currency, that the dollar is now rising, gasoline prices are falling. People say that the Republicans want to export our crude and that is all true. It is a good thing to rebalance our imports  with exports. The tankers go out and wealth comes back. We will be a richer country. At present exporting crude is against the law, but it is legal to export gasoline and diesel, refined products, and the U.S. has already closed 15 refineries in Europe by underselling them. The end of Quantitative Easing and the rise of interest rates will further strengthen the dollar as the Euro falls due to their own quantitative easing and easing interest rates. While we were easing, they did not have to do anything. Our companies could buy European and other of the world’s companies with their increased buying power. Without government interference, our capitalist system is just like a real Monopoly Game, there would ultimately be one corporation that owned everything. Those who predicted the fall of the U.S.  and its Empire were premature. Whoops!

I would like the infrastructure for natural gas and crude, meaning pipelines, to become so extensive, to become so productive that we won’t need Middle Eastern oil and we can pull our carrier battle groups out of the  Gulf or Hormuz if we wanted and never have to risk another US service man over oil. Our President just doesn’t get it with his green programs. Green is dollars and safety. The US has 11 Super Carrier Battle Groups. We downsized, we used to have 12. No other country can afford even one super carrier fleet. It has been Pax Americana, American Peace, ever since WWII. World trade is made possible by the US Navy, a force for good. The Cuban missile crisis showed how little the USSR could do  to stop the US Navy. After that event, the USSR started building up its own blue water navy but it was rusting and mothballed in the Black Sea after the breakup of the Soviet Empire. You can bet Putin is and will be using his own oil money to rebuild the Russian Navy. In fact they say they will increase their fleet to 206 ships, adding 80 vessels, by 2010. In comparison, Reagan built wanted and got a 600 ship navy that could control all the 7 of the world’s choke points at the same time. The Russian Black Sea fleet is based in port in the Crimea and that is why Putin annexed it. NATO has been conducting stepped up naval exercises since the annexation. NATO as members bordering the Black Sea, Turkey, Bulgaria, and Romania.  The Crimean port is Russia’s only year round port. The rest are frozen half the year. That is why Russia has the most and the most powerful ice breaking ships. Russia would benefit from global warming by being able to sail over the poles. But so would we. The long sought Northwest Passage  would be much shorter to go over poles from the East Coast to the West Coast or back, than going through Panama. We might find we have more arable land in Alaska and Canada and a longer growing season, but so would Russia. Plants grow better in higher concentrations of CO2. The earth has had much colder periods and much warmer periods like the time of the dinosaurs, and life survived. Winners and losers. New York might be a loser and have to become New Amsterdam once again and build dikes like Holland.

Crude is at $92.94/42 gallon barrel today or $2.212/gallon. Gasoline is up by 1.16 cents/gallon at the average rack in Selma. Diesel fuel is up by 0.63 cents/gallon. Prices are:

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Printable Reports

Have a great day,

-Larry Hopkins

Today’s Gas & Diesel Price Updates

We had a surprise Friday. When we changed out the tank truck with the new Kenworth,  the old International was stranded in Richmond. We intended to drive another truck to exchange and bring the International back, maybe put it on the Internet for sale. A Virginian saw the truck and to our delight drove down with a check to buy it. What we forgot was our GPS transmitter which is now traveling around Virginia in a new life as a dump truck.

Gasoline edged up 0.78 cents/gallon at the average rack in Selma. Diesel fuel slipped an ooch 0.10 cents/gallon. Prices are:

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Printable Reports

Have a great day,

-Larry Hopkins

Today’s Gas & Diesel Price Updates

I had to mail my corporate tax returns Friday. My accountant always asks for extensions to file. I mailed the returns at the same old box that looked like it had been there a million years. They just dump them into a pile like they always have. I never understood that. All they need is a little electricity and they could have envelope stackers. The insert would have to be vertical. It is obvious to anyone. Just think of all the man-hours or person hours they could save from having to straighten all of that mail out. At the post office, the letters could go straight to the sorting machine. No more mail sacks. The remote mail boxes could have solar cells to power them. This is obvious stuff.

 

Good news on a Friday. Gasoline is down by 2.43 cents at the average rack in Selma. Diesel fuel is down by 1.63 cents. Demand is down nationally and we have more crude in this country than most people give us credit. Cars are getting better and with better mileage. Prices are:

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Printable Reports

Have a great day,

-Larry Hopkins