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A parochial school system in Massachusetts has had enough:
https://www.dailymail.co.uk/news/article-12426821/Worcester-Bishop-Robert-McManus-issues-blanket-ban-bending-school-rules-trans-students-force-wear-uniform-use-bathrooms-play-sports-based-biological-sex.html
lj: Amen. Speaking of shenanigans, I look forward to seeing the gasoline inventory next week.
People are taking kids to college, as I already mentioned recently, people are traveling back from vacation, and people are running around getting ready for school. I hate when school is in session. There are not enough bus drivers in this area and parents sit in long lines idling their engines while they wait in front of schools in long lines. Between 3 p.m. and 4 p.m., the roads will be packed.
lj: Good question about the high in the Mid-West and below.
lj: Yes, a distraction from the info coming out about the alleged Biden crime syndicate!
al44: I the 1,000 people who registered were homeless, I don't have a problem with that. The problem is that far too often, signatures on ballots are not verified. According to Kari Lake, that was a big problem in Maricopa County.
Mail-in ballots have to go, with a few exceptions--like incapacitated senior citizens, to name one group.
This sad, horrific event should win lots of votes for Republicans in the next elections.
When is this going to stop. https://www.dailymail.co.uk/news/article-12422225/Texas-girl-raped-murdered-illegal-immigrant-El-Paso.html In Maryland the weekend before last, a woman in her 30's was brutally murdered on a hiking trail, and, apparently, she was raped because the police, using DNA, are looking for a Latino who broke in an attacked a woman in California. I wonder whether HE was legal?
lj: Oil
IMO, the big factor that will affect oil pricing in the near term is China's economy.
lj: REI
Thank you for the update.
lj: Phoenix, AZ has had no rain since March. They might get some rain from the storm.
lj: dry as a bone in the Mid-Atlantic for at least a week. Back to school in a couple of weeks. Gasoline usage is going to spike.
lj: Gasoline prices come down slowly when oil comes down; they shoot up 5 seconds after the price of oil rises!
lj: Thanks for the wake-up call on having cash. However, if electricity is out for a prolonged period, grocery stores will be entirely looted before National Guard units arrive. The cash would be needed to buy groceries from other people, but many would be disinclined to sell them. I don't think commerce can function without the credit-card infrastructure. What cash might do is buy an airline ticket to get out of an area once airports are up and running.
If electricity were out for months during the growing season and you live in a home, you are going to need brush killer. It is incredible how fast vegetation takes over when there is enough rain. Also, where I live, wildlife would move in--deer and even bears from counties north of here. It would be incredible.
lj: Excellent advice.
ddfred: The payments come out of Hunter's bank accounts in the Caymans!
lj: Let me add that EV sales won't result in a significant decrease in petrol demand for probably a decade. I know of no one who wants to own one.
We have bigger fish to fry, namely, figuring out which banks are going to survive.
I have a conspiracy theory. Well Fargo has been working with the Feds on a digital currency. Fitch has Wells Fargo rated A+. Is there a plot afoot to get rid of mid-sized banks and have only big money-center banks, which would make forcing a digital currency on society easier? And what is this stablecoin or whatever it is called that PayPal is going to have (or has). It is digital, of course. A local politician once said, "Don't believe anything U hear and only half of what you read"! There is some truth to that.
lj: VTLE
It is hard to believe that did those hedges. HOWEVER, China IS slowing down, which spills over into other countries in Asia, which should slow oil demand.
If oil does plummet $20 a barrel or more, Vital management will look like geniuses. Of course, they were not so smart the last time around, but who knew Putin would invade Ukraine.
lj: It might drop next week, but the week after it will rise significantly as schools reopen. However, as U pointed out in another post, China has stalled.
$48 a barrel oil by November? Will the Dems do something drastic next year to get fuel costs under control before the election. Things should be wild for the next 18 months.
lj: The war in Ukraine needs to end. Give Crimea to Russia. The war is bankrupting the U.S., too. It is destabilizing the entire world.
lj: Big news down in Fulton County tonight.
Conservative folks from up in the Yankee north who relocate to the South, pick Florida first, then South Carolina, especially the latter. They rarely go to Georgia because the coastline is not very long.
lj: Those hedges might come back to bite them. Their history with hedging is far from being special!
lj: Nothing, imo. The economy is slowing down. There is no end to food inflation and interest rate could continue to rise into next year, according to what I have heard on the radio and TV by experts, like Peter Navarro.
Gmenfan: That doesn't make sense to me. If someone was unable to check out, immediately putting the food back on the shelves seems logical. The food would not be put back into a refrigerator from the time the person WOULD have checked out until they arrived home and put it in the fridge.
Gmenfan: I believe they returned everything to the shelves.
al44: I have been in a grocery store on two occasions when the checkout computer could not accept credit because the system was down. U could pay only in cash. There were people who had carts full of food, including perishable of course, who could not check out and the staff had to return the food to the shelves. Always have cash when you go to a grocery store.
Fortunately, the second time it happened, I was carrying enough cash to check out.
lj: Higher oil prices are a disaster for the economy, as inflation will not be brought under control no matter how many rate hikes those Fed deadheads do.
Food inflation will continue, which is a disaster for the poor and for the lower middle class; actually for the middle class, too. If the Republicans are smart, they will go after the Dems' green energy BS in a major way next year.
To be honest, making money in oil and gas stocks is nice, but not at the expense of the overall economy, not to mention the overall stockmarket.
$68 would be fine.
lj: EGY
That is very interesting--and tempting. But, personally, I would never sell an in-the-money call on EGY! I hate the stock, and do not want to be the position where it might be put to me, though buying in the call if the stock hit $4.50 would be a decent strategy.
lj: Sure they do! By the way, Maryland raised its State petrol tax again on July 1, and the Dems plan to tax gasoline out of existence. Vote Democrat--cut off your nose to spite your face. Doesn't worry Mr. Bezos cruising around Europe on his $500M yacht. Though, he deserves high praise for donating $100M to help Maui.
al44: I have said it all along--EV's are a joke, and eventually Ford will go bankrupt. I own shares of Valero, VLO, and think it could well for a decade.
People are catching on. However, if the Dems do a sweep next year, that will be it for the internal combustion engine, and we are in big trouble.
p_s_h: I don't think his dogs were too impressed! Good stuff.
lj: "If they have to start trucking it in by UPS they won't be able to afford it...
I think that idea is in Gov. Newsom's policy statement!
littlejohn: If it came from a Valero refinery, I approve the purchase! LOL!
lj: EGY's earnings report was rosy. And, of course, the stock goes nowhere.
lj: Warren Buffet? LOL. By the way, about 3/4's of my shares in VTLE are now in black ink. The other 1/4 I purchased at $78. The $78 shares might have to be sold at a loss at some point, because I don't think the share price will get that high. $65 a share would seem wild to me. Have a nice evening.
al44: Houston, we have a problem. Namely, the Republicans in the Ohio legislature are doing a legal maneuver to prevent changing the State constitution so as to allow abortion. We could lose every swing State due to this issue.
Democrats know it, of course, and are going to hammer Republicans hard on the issue. And, by the way, there is no way in "h" that they will run Old White Joe next year.
al44; Youngkin is another false alarm. A big-money Wall Street type. Trump can chew him up in the run-up to the primaries. He would not appeal to moderate Democrats and independents; running him would be like running Mitt Romney again.
RFK, Jr. is quiet these days. I'm guessing he cannot get backing from big donors.
If we don't go with Trump, we won't win. Trump can draw the black male vote.
lj: The traffic on our local roads is as light as I have seen it since Spring 2020. Again, this is a huge vacation week. If we can get through September with no canes coming up the Gulf, I see $150 in the cards for VLO even before October.
If I had any guts, I'd put 40-50 percent of my stock portfolio in VLO.
lj: With oil at $81+ and fertilizer prices too high and Russia destroying Ukrainian wheat fields, and a very tight labor market here, I don't see inflation going down until there is a DEEP recession, and maybe not then.
VLO=$130 today. Seems to be regaining momentum.
p_s_h: That judge is one of many, one of many. Washington, D.C. needs a BIG butthole!