Posted on 01/10/2022 10:28:56 AM PST by Hojczyk
The decrepit old fool in the White House is doing all he can to make it go up. It won’t be $100 by the end of his term. More.
once it’s in the news, I start looking for a good time to sell ...
Let's go Brandon...
2024 is at the pump
“Over the past week, open interest for June 2022 WTI $100 calls has increased by 10%,” he wrote. “Since September, open interest between $105-$150 per barrel strike prices have increased 14 times.”
US bbl is 42 gallons; at $100/bbl, puts the crude cost per gallon around $2.50. Add in the refining costs (incl. losses of final volume), distribution costs (mostly fixed and/or amortized costs), labor costs (expect to see more pay-at-the-pump, thanks to the Let's Go Brandon results from DNC policies nuking our labor force), expect gasoline to exceed $4 a gallon pretty much everywhere, and expect it to stay above $4 until regime change. The psychological costs include idiots (including on FR) blaming this on gasoline retailers and "big oil".
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