Tag Archives: Price Hikes

California Gas Stations Shut as Oil Refiners Ration Supplies

Refineries outages are causing gasoline shortages at the pumps in California. [From California Gas Stations Shut as Oil Refiners Ration Supplies- Bloomberg – ] Gasoline station owners in the Los Angeles area including Costco Wholesale Corp. (COST) are beginning to shut pumps as the state’s oil refiners started rationing supplies and spot prices surged to a record. Valero Energy Corp. (VLO) stopped selling gasoline on the spot, or wholesale, market in Southern California and is allocating deliveries to customers. Exxon Mobil Corp. (XOM) is also rationing fuel to U.S. West Coast terminal customers. Costco’s outlet in Simi Valley, 40 miles … Continue reading

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Dollar No Longer Primary Oil Currency As China Begins To Sell Oil Using Yuan

This is one of those “shoes” that we have been waiting to drop. The rest of the world is fed up with our monetary policies and the inflation that we’re exporting. While small countries can’t do much about it, the larger countries can, and as you can see from the article, they have. In a nutshell, China is now completely set up and ready for any country to buy and sell oil using their yuan, instead of US Dollars. This is the equivalent of a death knell for the dollars. [From Dollar no longer primary oil currency as China begins … Continue reading

Posted in Economic | Tagged , , , , , , , | 2 Comments