Price of gas around the world

Big inventory surprise in the oil patch today with lots more crude in inventory than expected. Crude is down 2.25 to $105.08 and RBOB futures down .03 to 3.3741.

Not nearly enough but a move in the right direction. I'm wondering if there isn't a bit of demand destruction going on.

There's some 3.59 around but 3.69 is a lot more common.

I saw a news clip earlier today that pointed out states whose average gas price is now above $4.  Indiana is one of five I think it is ... Calif. and N.Y. another west coast state, Connecticut and one of the states adjoning you.  Illinois probably.  It's too much nationwide. It was also mentioned that the refinery required "summer blend" is about 20 cents/gal. more to make for the refiners.

With the bad employment report Friday crude is down 1.72 today to 101.79. RBOB is down .06 to 3.27. Most local stations are 3.75.

At least some good news.

Oil related.

Stocks fall as Argentine government targets YPF

I have some knowledge of YPF as it is a company that I had invested in very long ago. A well run company that did a good job.

I note that the US depository stock price was $40+ at the end of January and it closed at $19.50 today. $19.50 is too high.

Argentina may think that they are making a smart move but watch new investment there slow to nothing.

Once capital figures out that anything they invest there might be taken away without fair compensation it will flee the country like a cat on fire...if not faster.

Argentina will look like Cuba in 10 years.

We have a 3.62 in town but 3.69 is more common.

I'm waiting for him to say if it wasn't for government we wouldn't have our liberty and freedoms. 

Aw, geeze, the reason that gas is so high is because of greedy oil companies getting subsidies and speculators. If we spend more money on regulation it'll bring down the price of oil.

Actually drilling more wouldn't solve the entire problem which is that the dollar is so far in the dirt as a result of unrestrained printing over the last 3 years that it just doesn't buy as much oil as it once did.

Secondly because no one can trust the dollar any longer they'd rather invest it in something that is actually valuable like oil.

Of course this is all lost on the community organizer in chief. Or it may not be, but a real solution isn't in his community organizing play book.

It's because, like Romney's wife, he has no background in the economy seeing as how he's never had a job.

Oh...I looked on my way home from work tonight: $3.99

Personally....from this account...I think Obama welcomes higher prices. (Beside the oft stated reason of forcing his 'green energy" agenda.)  In this case...looks like another good excuse to extend more government control...errr....assistance...over another segment of America.