Trump waives Jones Act in bid to curb high fuel prices; waiver applies to oil, gas, fertilizer, coal

Bombing energy infrastructure > Jones Act waiver

/CL touched a low of 91.65 last night....98 now.

Gas in my area went from $2.49 last week to $3.79/gallon last night. Temporary? Maybe. But price increases will hit "ordinary" Americans really hard if this continues. That HAS to be on the administration's mind.

California prices are now $6.00+/gallon in LA.

It is literally a joke...
US goes "dig baby, dig!" and they rely on international Crude pricing. while they can reduce the pricing locally to compensate for the discrepancy till it settles.

The Oil Companies are making billions right now! his friends\buddies are killing it!
he doesn't care for the everyday people. he also didn't have to put petrol in his cars once in his life or go to the store to buy food. PLEASE. its amazing.

True, Trump hasn't had to worry about the cost of products for quite some time (ever?). But, that's never been his primary concern anyway. His ego means that his concern is with his image/legacy. That can be a powerful thing when running a country as you should be doing the will of the people so that you go down in history as "the most loved ever". However, this driving force can also go terribly wrong if excessive risks are taken in an attempt to establish a legacy of "solved the issue of middle east/world peace" and (shocker) it fails.

The big challenge is trying to accomplish a multi-year effort in a month so as to secure not only your place in history, but also your party's future in the upcoming mid-term elections.

The war with Iran will stop at some point. The world will get back to "normal" (whatever that new normal looks like). Trading volatility will subside. The question is simply: "when?". Your guess is as good as mine. Based on price action yesterday, I was hopeful for at least a few days of reprieve. After the escalation today? I'm not optimistic on a quick end. Worse, for the global economy, I'm decreasingly optimistic on being able to look through the inflation shock.

The FED can't cut today, not that they were going to. But, the chances of future rate cuts come off the table quickly if there are issues with expected inflation. It's a "we have to wait and see data" scenario all over again.

Powell will come out and try to calm markets a bit by saying they are vigilant and don't expect a major inflation shock if this ends quickly. It will be the same message as most central banks have been giving.

The first a*hole report that asks "are you considering hikes in the future", and Powell replies "we will use the tools at our disposal to achieve our dual mandate goal" will cause the market to instantly pull back, almost guaranteed, so watch the minute candles and you'll be able to clearly see when that question is asked.

I would REALLY have preferred to enter this afternoon's press conference at highs vs lows though. I don't expect a massive sell off without some additional news from the middle east, but I don't see how the FED can reverse this morning's rout even if threading the needle perfectly. So let's hope I am wrong and they somehow bring us back to highs....currently less than a 2% chance by the way according to options markets.

Auto correlation
Hurst exponent
Mandelbrot's infinite memory

....Central banks know the above. Yet they tell you what you want to hear. Yes... inflation remains out of control.

Russian Hoax :-D!!! hahaha lol.
Go Trump! if you go down, take down the whole world with you. hahaha lol.
What an idiot!

Haahaha look you look your usa

Ask anyone from California, and they'll tell you they like the state's high tax policies.