House Road Funding Package Puts Gas Tax Increases on Autopilot --- Tax on B5 Diesel for Heavy Trucks Cut 20%
Michiganders woke up this morning to discover that regular unleaded gasoline prices are now $ 3 per gallon, a $ .25 increase, or more, from yesterday. Refinery problems, summer driving season, and SE MI’s special fuel blend are blamed in the press, but really this price shock is an intended consequence the Federal Reserve’s zero interest policy and their determination to boost stock prices. Oil derivatives are cheaper than dirt when there is no cost to money.
Wall Street wasn’t happy early this year when plunging oil prices drove down stock averages. So someone is furiously selling off Treasury paper and buying oil & gasoline futures contracts. Treasury interest rates have been rising in lockstep with oil & gas prices, on the same days, even the same hours. Officially, no one knows who is behind these trades, but the Federal Reserve is sitting on $ 4 trillion in Treasury paper and is fighting any effort to audit their holdings. A coincidence? Not likely.
Your government extracting more money from your wallet.