It Begins! California Starts Gas Rationing, $5 Gas Coming

Obama is the new Jimmy Carter. Gasoline station owners in the LA area are beginning to shut pumps as the state’s oil refiners started rationing supplies and spot prices...
Barack Obama is the new Jimmy Carter
It's amazing how history seems to repeat itself...
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Party like its 1979 all over again

Gasoline station owners in the Los Angeles area including Costco Wholesale Corp. (COST) are beginning to shut pumps as the state’s oil refiners started rationing supplies and spot prices surged to a record.

RELATED STORY: The 1979 Hostage and Oil Crisis Under Jimmy Carter

Barack Obama is the new Jimmy Carter

It’s amazing how history seems to repeat itself…

Valero Energy Corp. (VLO) stopped selling gasoline on the spot, or wholesale, market in Southern California and is allocating deliveries to customers. Exxon Mobil Corp. (XOM) is also rationing fuel to U.S. West Coast terminal customers. Costco’s outlet in Simi Valley, 40 miles (64 kilometers) northwest of Los Angeles, ran out of regular gasoline yesterday and was selling premium fuel at the price of regular.

The gasoline shortage “feels like a hurricane to me, but it’s the West Coast,” Jeff Cole, Costco’s vice president of gasoline, said by telephone yesterday. “We’re obviously extremely disheartened that we are unable to do this, and we’re pulling fuel from all corners of California to fix this.”

Spot gasoline in Los Angeles has surged $1 a gallon this week to a record $1.45 a gallon premium versus gasoline futures traded on the New York Mercantile Exchange, data compiled by Bloomberg show. That’s the highest level for the fuel since at least November 2007, when Bloomberg began publishing prices there. On an outright basis, the fuel has jumped to $4.3929 a gallon. source – Bloomberg

Now The End Begins is run by end times author and editor-in-chief Geoffrey Grider, and located in Saint Augustine, Florida. NTEB delivers aggregate breaking news of the day from a biblical perspective, as well as providing rightly divided and dispensationally correct teaching and preaching from the King James Holy Bible. NTEB has been in continuous operation since being called into service for the Lord Jesus Christ in 2009. We are the front lines of the end times.
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