What happens to a country that doesn’t have enough energy supplies? Well, it seems that we’re about to find that out the hard way. The U.S. energy supply shortage is sparking the worst shortfall of fuels in over 50 years. Most of our refineries are already running at almost full capacity and won’t be able to ramp up operations and the processing of key oil products to meet the rising demand this summer. Fuel prices have already jumped by 40% since the start of the year, and market strategists are alerting that consumers may see another 40% spike by August. A widespread shortage of fuels is threatening to throw this country into disorder, collapse domestic production, send the price of everything that requires transportation through the roof, and result in demand destruction and nationwide rationing of diesel and other oil products as the imbalance between supply and demand continues to grow.
In the U.S., drivers are already feeling the pain of skyrocketing prices at the pump. Since the beginning of 2022, gasoline prices have been soaring nationwide, and today, they broke another shocking record. American motorists are now paying a nationwide average of $4.91 per gallon, according to the latest data provided by AAA. Since January, the national average surged by 40%. It is also well above last year’s level of $3.04 per gallon. Analysts predict that the $5-per-gallon average will become the norm by the Fourth of July holiday as demand is expected to increase even further while supply remains tight.
In fact, according to analysts at JPMorgan, California’s $6-per-gallon average could ripple across the country by the end of the summer. “There is a real risk the price could reach $6+ a gallon by August,” said Natasha Kaneva, the head of global oil and commodities research at JPMorgan, adding that prices could go up by an additional of nearly 40% in the coming months. “With expectations of strong driving demand, US retail price could surge another 37% by August,” the expert forecasted. “The only way that gas doesn’t reach $6 per gallon is if demand drops due to the sky-high prices,” JPMorgan analysts wrote in a separate report.
The worst part is that even though most consumers are already struggling with the rising cost of filling up their car tanks, what they really should be worried about is the price of diesel. The entire U.S. economy runs on diesel. Diesel prices reach another record today of $5.68 per gallon, marking the highest level they’ve ever been in the U.S. since the government began tracking them, and prices will likely go even higher this summer not only because of the demand but also because forecasters are predicting that this year will see an above-average number of hurricanes, which can idle refineries for days.
This means that just about everything will become more expensive. Right now, refineries in the Northeast are already running at 95% capacity, and industry executives are warning that the only option to keep diesel supplies from completely running out this summer is a nationwide ration of the fuel. Apart from that, for prices to finally go down, the economy will likely have to go through what economists call demand destruction, which is when the price of something gets so high that people stop buying it because they can’t afford it anymore.
That consequently leads to less demand and more supply, and ultimately, lower prices. There are already signs that demand destruction is happening, and in some parts of the Northeast, diesel rationing has already begun. Unfortunately, it’s only a matter of time before these issues hit national proportions, and as drivers, truckers, and ocean carriers start to rush for more energy supplies, chaos will soon descend upon America – again.
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The moron in the Whitehouse did that only a moron could shut down his own oil industry costing thousands of jobs then complain that other countries refuse to supply more oil. No doubt if he was in charge of Saudi Arabia he would spend lots of taxpayers money importing sand.
Here's a solution dont drive don't go on vacation don't go into debt let's use less start the demand destruction NOW! Before the shortages
INVESTING IN CRYPTO NOW IS VERY COOL EXPECIALLY WITH THE CURRENT RISE IN THE MARKET, ACT NOW.
Why are all the investment people spamming the comments every video🤦🏾♂️
America is falling!! Yipeee😂
For God'' s sake get it right …Russia invading Ukraine DID NOT push up fuel prices ; it was the idiot US UK EU sanctions on Russian oil / gas that did that .
I'm 63 y/o and remember .22 Cents a Gallon. "Gas War's" when Gas Station's would lower their price to try an be the cheapest in Town to get more Customer's.
I guess nobody talk about the ships in the sea wat happened to them 😕
Let's hope things don't get worse between China and Tiawan. You think shortages are bad now. If China start throwing bullets instead of rocks. We will see things get much much worse.
Anyone know why Biden shut down the Alaska's oil pipline? Wasn't that going to help with making more fuel? I don't understand.
Blame it on Brandon and his masters!
$5.62 for diesel…..it is over a dollar more than that here 2 hours North of Sacramento in Northern Caufo4nia!
Liberals are killing their poor stupid voters but keep voting for them when they are all homeless and hungry, they will wake up or die ether works for the rest of us.
Sansances are Hard
Anyone seeing my post ?
Please reply
The Market has been pretty bad until today it decided to surge. Everybody was Practically Crying then. It kept dipping. That's what you get when you feel you can navigate the process on your own. Big thank to Hilder Ferguson. I'm not bothered with how bad the Market is because my assests are insured due to her advice and I still receive my profits
We’re looking more and more like Venezuela…
Jun 6, 2022
NYC billionaire issues dire warning: Things 'will get worse'
John Catsimatidis, Red Apple Group and Gristedes Foods CEO and radio talk show host, weighs in as gas prices reach a new all-time high and emphasizes the impact these costs will have on the retail industry.
https://youtu.be/akE9hz_mvds
Just change the fucken President, man.
Have a National signature campaign to Recall him in November, else a revolt.
And kick all his dickheads out too.
Jesus H. Christ, we can't sit around for another two years with this dumb bastard.
And get Trump back in, right n o w.
First thing he should do is Executive Order #1, suspend summer driving fuel blends for this year immediately, and use the DPA to require the Refineries to not switch to summer blends and to stop selling their regular blends to South America – but to put it straight back in our market right here.
Better prepare yourself get a rifle and a sidearm for protection against what's coming if you're not prepared now you'll be the first one that goes
The first step to successful investing is figuring
out your goals and risk tolerance – either on your own or with the help of a Financial Advisor. If you can get the facts about savings and investing with a well detailed plan, you should be able to gain financial security over the years and enjoy the benefits of managing your income.
The worst ever…we are no where near done.
$5.25 in Indiana gas
stop the whining, cut back on your driving, turn off the lights, put on a sweater.. and get rid of that gas guzzling suv, go on a diet..live within your means.
I am awake! I don't blame Biden and administration, democrats or even the far left liberals. I BLAME THE PEOPLE THAT VOTED FOR THEM ALL!!!!!!! IF YOU ARE ONE OF THOSE PEOPLE, YOU ARE UNAMERICAN AND SHOULD BE CASTED OUT OF THIS COUNTRY!!! Time to point out the source of how we all got here.
THE EEZRAYLI GOVERNMENT OF A$$MERIKA, is truly fhuked….!
It’s all planned by design.
Lololol nice burn it all down baby. Game is rigged so fuck it
Interesting new development. My theory for the security,prosperity and insuring of liberty for the ''' Collective Of North American Civilization'' best at this Point In Time.
Good News is that Eye Love You. Calling for an immediate ceasefire !
That stated, read the following thrice carefully and and please only discerning, wise and questioning persons respond : Back in October 2019, as a World Peace Advocate, Independent Student Scholar of History, Geopolitics, Wars & Civilizations and Independent Security Analyst and Theorist HAD concluded that we ( North America, NATO member countries and THE WEST) are on a path towards WW3 due to the US-CHINA TRADE WAR begun by the Trump Administration back in early 2018, The Arrest of the CFO of Huawei Meng Whenzou by the RCMP in Canada in order to honor an extradition treaty with the USA, other geopolitical events, & the historical event known as Pearl Harbor. Concluding as an Independent Thinker, Analyst and Philosopher that we ( Humanity ) are on a Path Towards WW3 HAD created, designed & made a New Training Program produced to go hand in hand with a WW3 scenario. Thus, October 17 2019 HAD performed the 1st session of the General War Integrated Total Body Training System aka The 300 Workout integrated & in parallel to a near future timeline witch was the WW3 scenario. 93 Days later, the COVID 19 Crisis Began ! In parallel to my WW3 scenario witch is caused by a Stock Market Crash witch consequently triggers a Global Financial Collapse the Coronavirus began. Not sure what caused Covid believe it was snakes but cannot rule out another possibility. What do know is my scenario HAD a solution the creation of a New Institution : The International Citizen Integrated Social Security Force aka The Dragon Army witch am calling for the creation. Tell the Leaders of the Free World Dragon Zero's Message : Drop Down and give Dragon 13 pushups with Love & For The Sake of World Peace.
What say ye ? Will you join the Dancing Goddess & Dragon Kingdom for World Peace ? Can u support, volunteer, bless & love Adrian Hannah Dragon's World Peace Work ?
Be safe everyone, try to not do too much looting.
What you mean by August gas is already 5.99 to 5.25 here in Atlantic county Nj, sooooo it will be 6 probably in the next 3weeks , gas keeps going up everywhere every week….
Oh my God this is like a horror movie
If nature had intended humans to have “soft landings”, it would have endowed us with bigger, fluffier ass cheeks !!!
A 50 bsp rate hike in this situation is like trying to put out a forest fire by tossing marshmallows at it!!
I hope you democrats are happy.
This is what you voted for.
And the moron says he’s running in 2024
If we don’t have a current green solution in place then why stop oil production that’s like quitting a job without another one lined up
https://youtu.be/Czwbyp0a_Ow
Humans can blame themselves, humans are the cancer on earth they destroy one another and the planet. We are in climate change , money will have no value , there is no stopping what is coming with sea levels rising , the west drying up and we will be seeing stronger storms causing floods , our food supply is at serious risk along with water . Everything in life has a domino effect , when the first one is knocked down the rest will fall. The economy sucks all over the world it's not just in US , the president does not control the prices of gas or food and supplies , learn how those are set , those big companies are making big profits as we are in high inflation on the backs of the average. The entire planet has been abused by humans and we are seeing the effects We are heading into the 6th extinction, this planet has had 5 in the past. We can't carry on as we have , our demise is coming and it will be far sooner then 2050 , keep in mind , our children and grandchildren will be seeing the end of our world as we have known it
I think that everything as a price. Everything that happened to you will come back to who did it. It's called Karma. Just like everything that goes up then goes down. You can't control everything. It's just flow. Just like everything can't go always in just one direction.
I remember when most goods were transported BY RAIL! Whatever happened to that concept??
Mattel is still A THING? Even as our landfills and oceans are choked with PLASTICS?! God save us. This is a great time to join Reverend Billy and his CHURCH OF STOP SHOPPING!
It's going to be a rude awakening for Americans whose grand lives are fueled by US IMPERIALISM – an economic system that destroys the lives of everyone else on the planet. HEY – Welcome to reality!