MAKING MY POINT: OIL RIPOFF ! ! ! !

Price of gasoline in Orange County, Calif., up TWENTY CENTS in past ten days, and ANOTHER FOUR CENTS OVERNIGHT to $4.09! Meanwhile, in the Imperial Oil Monopoly : ExxonMobil reports TEN BILLION DOLLARS in profits! WTF is wrong here?!!

Buy Cheaper Domestic Crude, Sell Gasoline At Same High Price

Valero Energy's fourth-quarter profit soared on higher refining margins, as it swapped out foreign crude for cheaper domestic oil. Net income was $1.01 billion, or $1.82 per share; compared with $45 million, or 8 cents per share, a year earlier. Valero's income grew on higher refining margins because it replaced imported light crude oil with cheaper domestic crude at its Gulf Coast and Memphis refineries.  It was the company's highest fourth-quarter earnings per share since 2005.

On the backs of the driving public.

TREASON via unrestrained Capitalism?

Oil marching back up to $100 a barrel, shoveling more money into the hands of the Oil Industry. Not just capital but ungodly PROFITS year after year! Government doing nothing to help us "captive buyers" migrate to cheaper sources. I wonder if sometime in the future, historians will recognize the treasonous behavior of American oil interests in keeping the nation in the financial hole.

Japan at Risk of Recession

Japan's national economy contracted at an annual rate of 3.5% in the last quarter, raising concerns of a sustained slowdown. The world's third-largest economy, Japan risks slipping into recession if the economy remains in contraction during the current quarter, which some economists say looks increasingly likely.

Last Second Election Input

Well, since my anti-GOP bent is pretty obvious, and because my new job takes 110% attention, I haven't posted anything on the upcoming election. Hopefully everyone goes out and votes FOR A REASON, and not just following party line. Mentioned this blog on a Google Chat this morning (Hi, George) and so feel compelled to mention the forum sponsoring this chat, http://facethefactsusa.org   Haven't gotten a firm take on GWU's position, but there are some interesting political facts out there for you trivia junkies. I will now return to my usual economic rants.

Speculators manipulate oil prices 9%!

Oil was down ALMOST $9 for the month. Somehow the cabal of market manipulators and oil profiteers managed to jack up the price 9 PERCENT IN ONE DAY on the utterly bogus pretext that Europe was moving closer to solving its financial problems! In doing so, it took that 9% (factored up or down) out of the pockets of everyone who uses energy! Nice work, b*st*rds!

DOUBLE-DIP RECESSION HITS! (Spain)

Spain's gross domestic product fell 0.3 percent in the first quarter 2012, as its economy slipped back into recession again; it joins the UK that got there last week. Different places than the US, granted, but some of the same problems. Consensus is that a BAD job report looms on Fri May 4th;  and although gasoline prices have dropped lately, they are still too high (manipulated higher by speculators and the oil companies).