Ongoing California gas price gouging and market manipulation has of course been met with silence by the dysfunctional, comatose government of the fine state of California. Commodities traders and government official are of course as gobsmacked as any of us about the steep rise in California gas prices. Who could possibly have predicted the market would be gamed and exploited by the usual Wall Street parasites? Meanwhile, California regulators promise to awaken from their slumber soon and gallop to the rescue, once they find their horses, that it.
But wait, California Gov. Jerry Brown has just decreed that California can switch to winter gasoline a few weeks early while Sen. Feinstein has called on the FTC to investigate! I’m sure commodities traders are just trembling in their boots over Feinstein’s threat since the FTC has too often proven itself to be toothless and captured. And the switch to winter gas should have been made last week and certainly with a bit more vigor than the governor seemed capable of summoning up. “Gas prices in California have risen to their highest levels ever, with unacceptable cost impacts on consumers and small businesses” said Brown, sending more chills down the spines of the market manipulators.
And let’s give a special extended middle finger to California gas stations that are charging $5.49 – 6.69 a gallon when most other gas stations are much lower. If California and DC had actual functioning regulatory agencies, these profiteering maggots would be heavily fined then indicted.
It’s a repeat of 2002 “gray out” where the wholesale market was unregulated and the retail market regulated (in this case by large competitor market prices). Wholesale prices exceeded retail and wholla, rolling blackouts.
These people, Californians, are complete idiots.
I guess the gasoline just disappeared into the ether. No way to find out where the bottleneck is and why. Let a thousand fingers point, and let no one investigate. If the truth is known in, say 5 years, let’s not bother affixing personal responsibility, because that’s for welfare mothers and history is for pussies.
Regulators are On The Job, protecting the populace from price gouging, market manipulation, and profiteering.