Below $2.25 a gallon.
Below $2.50 a gallon...
Below $2.75 a gallon...
Below $3.00 a gallon, but not for long...
Below $3.25 a gallon, I'm getting a Prius...
Below $5 a gallon, no f*cks given...
Yet another compelling thread by Uber Wagon!!!
I guess it wasn't meant to be. So now I am looking at 2019 Audi S4 and 2019 BMW M240i.
Beer: The cause of, and solution to, all of life's problems.
Now the plot thickenth:
https://www.reuters.com/article/us-s...-idUSKCN1SJ088DUBAI/LONDON (Reuters) - Saudi Arabia said on Monday that two of its oil tankers were among those attacked off the coast of the United Arab Emirates and described it as an attempt to undermine the security of crude supplies amid tensions between the United States and Iran.
The UAE said on Sunday that four commercial vessels were sabotaged near Fujairah emirate, one of the world's largest bunkering hubs lying just outside the Strait of Hormuz. It did not describe the nature of the attack or say who was behind it.
The UAE on Monday identified the vessels as two crude oil tankers owned by Saudi shipping firm Bahri, a UAE-flagged fuel bunker barge and a Norwegian-registered oil products tanker.
The owner of the Norwegian vessel, Thome Ship Management, said the vessel was "struck by an unknown object". Footage seen by Reuters showed a hole in the hull at the waterline with the metal torn open inwards.
A Reuters witness said divers were inspecting the ships. The UAE's state news agency said Fujairah port was operating normally.
Iran, embroiled in an escalating war of words with the United States over sanctions and the U.S. military presence in the region, moved to distance itself on Monday.
Iran's Foreign Ministry called the incidents "worrisome and dreadful" and called for an investigation.
A senior Iranian lawmaker said "saboteurs from a third country" could be behind it, after saying on Sunday the incident showed the security of Gulf states was fragile.
A U.S. official familiar with American intelligence said Iran was a leading candidate for having carried out the attacks but the United States does not have conclusive proof.
"It fits their M.O. (modus operandi)," said the official on condition of anonymity, suggesting Iran's statements distancing itself from the incident were an attempt "to muddy the waters."
POMPEO WARNS OF ESCALATING THREATS
U.S. Secretary of State Mike Pompeo shared information on "escalating" threats from Iran during meetings with EU counterparts and the head of NATO in Brussels, the U.S. special representative for Iran Brian Hook told reporters.
Hook declined to say whether he believed Iran played a role or if Pompeo blamed Iran. He said the UAE had sought U.S. help in the investigation and Washington was glad to provide this.
The U.S. Maritime Administration said in an advisory on Sunday that incidents off Fujairah, one of the seven emirates that make up the UAE, had not been confirmed and urged caution.
Last week the Maritime Administration said Iran could target U.S. commercial ships including oil tankers sailing through Middle East waterways.
Iranian Foreign Ministry spokesman Abbas Mousavi said the UAE incident "has a negative impact on maritime transportation security" and asked regional countries to be "vigilant against destabilizing plots of foreign agents", the semi-official ISNA news agency reported.
Before talks with Pompeo in Brussels, Britain's Foreign Minister Jeremy Hunt warned of the risks of "a conflict happening by accident" with an unintended escalation between Washington and Tehran over an unraveling nuclear deal.
GRAPHIC-Oil tankers attacked - https://tmsnrt.rs/2W4yczs
Washington withdrew last year from a 2015 pact between Iran and global powers aimed at reining in Tehran's nuclear plans. Since then, Washington has ratcheted up sanctions on Tehran, saying it wanted to reduce Iranian oil exports to zero.
U.S. President Donald Trump wants to force Tehran to agree a broader arms control accord and has sent an aircraft carrier and B-52 bombers to the Gulf in a show of force against what U.S. officials have said are threats to U.S. troops in the region.
Trump on Monday said Iran would "suffer greatly" if it targeted U.S. interests.
Tehran has called the U.S. military presence "a target" rather than a threat and has said it will not allow its oil exports to be halted.
A fifth of global oil consumption passes through the Strait of Hormuz from Middle East crude producers to major markets in Asia, Europe, North America and beyond. The narrow waterway separates Iran from the Arabian Peninsula.
Iran's Revolutionary Guards, designated a terrorist organization by Washington, threatened last month to close the chokepoint if Tehran was barred from using it.
Oil prices rose more than $1 a barrel on Monday but then fell with Wall Street as the negative turn in U.S.-Chinese trade talks spooked investors. Brent futures closed down 39 cents at $70.23 a barrel.
Saudi Energy Minister Khalid al-Falih said one of the two Saudi vessels was attacked in the UAE economic zone on its way to be loaded with Saudi crude from Ras Tanura port for delivery to state-owned Aramco's customers in the United States.
No oil was spilled but the attack did significant damage to the vessels' structures, he said.
Dubai and Abu Dhabi stock markets suffered their biggest single-day declines in years on Monday, with Dubai falling 4%. Saudi shares lost 3.6%.
Sunni Muslim allies Saudi Arabia and the UAE have backed U.S. sanctions against Shi'ite Iran, a fellow OPEC producer but regional foe. After the United States ended sanctions waivers that had allowed some nations to continue importing Iranian crude, Washington said Riyadh and Abu Dhabi would help compensate for any oil shortage.
Falih said the attack aimed to undermine maritime freedom and the security of oil supplies.
"The international community has a joint responsibility to protect the safety of maritime navigation and the security of oil tankers, to mitigate against the adverse consequences of such incidents on energy markets and the danger they pose to the global economy," he said.
And I just bought an Audi S3...I'm so screwed. Well, at least it's a four-banger, not a high-performance six.
Last edited by Uber Wagon; 05-15-2019 at 01:16 PM.
Beer: The cause of, and solution to, all of life's problems.
Just Trump following what he was predicting Obama would do in 2013: https://edition.cnn.com/2019/05/15/p...013/index.html
That has become accepted fact in the Trump presidency: For every pronouncement the President makes, there is at least one tweet from his past that directly contradicts his current view.
In the past week, the Trump administration has significantly ramped up pressure on the country. First, the US ordered an aircraft carrier strike group and B-52 bombers into the Middle East -- citing reports that Iran was putting short-range missiles on boats in the Persian Gulf. Then, came a report in The New York Times that national security adviser John Bolton had proposed one plan that would include sending 120,000 troops into the region in the event Iran continued to walk away from the Joint Comprehensive Plan of Action, a nuclear pact that Iran agreed to in 2015.
Asked about the troop proposal, which the Times made clear Trump had not yet seen, the President said this on Tuesday:
"Now would I do that? Absolutely. But we have not planned for that. Hopefully, we're not going to have to plan for that, and if we did that, we'd send a hell of a lot more troops than that."
Which is pretty remarkable! The President of the United States saying he would be willing to commit more than 120,000 troops to a war with Iran!
But not as remarkable as this flurry of tweets that private citizen Donald Trump sent back in the fall of 2012. Here we go!
"Now that Obama's poll numbers are in tailspin -- watch for him to launch a strike in Libya or Iran. He is desperate."(10/9/12)
"Don't let Obama play the Iran card in order to start a war in order to get elected--be careful Republicans!" (10/22/12)
He then followed those up the following year with these two tweets:
"Remember what I previously said--Obama will someday attack Iran in order to show how tough he is." (9/23/13)
"Remember that I predicted a long time ago that President Obama will attack Iran because of his inability to negotiate properly-not skilled!" (11/10/13)
What would Trump 2012/2013 say Trump 2019 is, you know, doing here?
It's probably worth noting at this point that Russian Foreign Minister Sergey Lavrov, appearing alongside Secretary of State Mike Pompeo Tuesday, said the situation in Iran was in a "downward spiral." Pompeo, on the other hand, made clear that "we fundamentally do not seek a war with Iran."
We were good with iut Iran before, will be good without now:
Although EIA forecasts Iranian crude oil production and exports to decline, crude oil supply from other countries—including some from the Organization of Petroleum Exporting Countries—are expected to mostly offset the lost Iranian barrels in the coming months. Increases in crude oil production in Saudi Arabia, the UAE, Kuwait, and Russia is expected to largely backfill the lower Iranian production, though these countries will likely wait until their June meeting to make any decisions regarding production increases.
Steady As She Goes:
Brent crude oil spot prices averaged $71 per barrel (b) in April, up $5/b from March 2019 and just below the price in April of last year. EIA forecasts Brent spot prices will average $70/b in 2019 and $67/b in 2020, both about $5/b higher than in last month’s STEO, compared with an average of $71/b in 2018. EIA’s higher Brent crude oil price forecast reflects tighter expected global oil market balances in mid-2019 and increasing supply disruption risks globally.
For the 2019 summer driving season, which runs from April through September, EIA forecasts that U.S. regular gasoline retail prices will average $2.92 per gallon (gal), up from an average of $2.85/gal last summer. The higher forecast gasoline prices primarily reflect EIA’s expectation of higher gasoline refining margins this summer, despite slightly lower crude oil prices.
Here in Phoenix, I have been seeing $3.15/gal for diesel and $3.20/gal for regular.
Hopefully, more expensive gas will slow the popularity of SUVs and crossovers. It will be fun to watch Ford/Chevy struggle with an SUV/Truck only lineup with $5.00/gal gasoline as a possiblilty...