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"Go To The Gas Stations And Stock Up Now Because
Things Going To Get Even Worse In The Months Ahead"
by Epic Economist
"Are you ready for the worst energy supply shortage in U.S. history? Are you ready to spend 50 percent more on a gallon of gasoline? Are you ready for yet another round of price hikes at our major stores as diesel prices continue to soar? Are you ready for another “shortage of everything”? Are you ready for widespread blackouts all over the nation this summer? We’ve been warned that all of these things were coming, and guess what? Now, they’re here. The most devastating energy crisis this country has ever seen is posed to get even worse in the months ahead, and by now, nothing can be done to magically solve our problems.
America’s fuel supplies have never been tighter, and drivers have been feeling the consequences of this where it hurts them the most. At this point, gas prices are still hovering around $5.00 per gallon – and that’s after a 10% drop recorded over the past two weeks.Regardless of the decline, the average price of a gallon of gasoline is still 50 percent higher than it was a year ago. Believe it or not, over the past month, gas prices rose over 50 cents per gallon. And the slight decrease some drivers have seen since June 6 is likely to be just a temporary blip, according to energy consultancy firm Rystad.
At the same time, the price of diesel has been increasing at an even faster pace. Over the past year, diesel prices surged by a whopping 75 percent, and yesterday, another record was broken as prices reached $5.81. That’s even more worrying when we consider that truckers use diesel to transport goods all across the country. Soaring diesel prices are threatening to spark a domino effect of price hikes that will impact virtually everything that we consume on a daily basis. On top of that, industry executives are alerting that it can also trigger widespread shortages and aggravate already-existing supply chain problems.
The latest price increases are just one more supply chain issue facing the U.S. economy right now as prices on all kinds of goods keep going up. But instead of protecting our fuel reserves, we’re exporting record amounts of distillates even though we’re in the middle of a historic fuel shortage. In March, April, and May, exports of gasoline, diesel, and jet fuel from the U.S. Gulf Coast were up by 32 percent compared to the same time in 2021, data from market-intelligence firm Kpler showed. To make things even more complicated, our aging power grids can’t handle the growing demand anymore. Last month, the North American Electric Reliability Corporation warned that we would face rolling blackouts this summer. Apparently, widespread power outages have already begun.
This week, more than 70,000 customers in Kentucky and nearly 40,000 in Tennessee are experiencing power outages amid high temperatures and extreme weather events. Southwest Virginia has also been hit and according to PowerOutage.US, there are 10,000 families without power. Things are going downhill sooner than expected. Those who don’t believe that we are facing the worst energy crisis in U.S. history are just not looking around. But it is safe to say that in a few months no one will be able to deny what’s going on. Soon, everyone will understand that we truly have entered a nightmare with no end in sight. This is the “new normal,” folks. The shortages are just beginning, and what’s coming next is going to be exceedingly painful."
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