Which means we're screwed.
Hunter
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Which means we're screwed.
Hunter
More to the cost of energy:
Yesterday I got a propane delivery at $2.54/gal. Last year at this time I was paying $2.00/ gal. Currently I pay $0.118/kWh for electric, last year at this time $0.0966/kWh.
That equals a 27% increase in propane and a 22% increase in electric.
I have an option of using either for heat. Currently the cost of using propane (90% eff.) is $30.68/million BTU, the cost of electric (resistance) is $34.58/ million BTU, a 12.7% differential.
WTI futures this morning are at $71.75 ($70.60 @ 3 PM), down from $84.65 on Oct. 26, 2021 a drop of 15.2% from its high.
I admit to having no crystal ball but from what I see in the marketplace and the falling prices of energy and the growth in the GDP I am not overly alarmed with the outlook for long term inflation, there is more going in the right direction than signs of long term trouble.
I am sure that disappoints those who have run off with the remains of the republican party and are currently cheering for runaway inflation. :pissed:
:usa: