Sticker shock at Lowe's

[rijndael]

The one in N.D I was told was for diesel

The refinery slated for Billings County is meant to produce gasoline, diesel fuel, jet fuel, fuel oil and natural gas liquids, according to the application it filed with state regulators in 2017.

Davis Refinery signs propane purchaser, faces pandemic financing woes

The developer of the planned Davis Refinery has found a purchaser for some of its products and says it plans to resume its search for investors in 2021, as the

www.willistonherald.com

The Davis Refinery will feature Octanizing-type continuous catalyst regeneration (CCR) reforming technologies and vacuum gas oil-based (VGO) hydrocracking units to produce high-octane gasoline and ultra-low sulfur diesel.

Davis Crude Oil Refinery, North Dakota

The Davis refinery is a state-of-art crude oil refinery being developed by Meridian Energy in Billings County, North Dakota, US.

www.nsenergybusiness.com

 

[Dgd6mm]

We're doomed!

 

[Brians356]

that can’t be right?...is this true?

Yep. $4.68 / ft plus sales tax. About three years ago the price was $2.78 / ft and I refused to pay that much.
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[Knotwild]

Stimulus money is probably causing inflation in some areas of the economy. But it is also coming from large amounts of cheap money available for projects. You can't park money and make a return. Unfortunately easy money is often spent foolishly. Anyone remember 2008-2009?

 

[joshb]

Major investment houses are borrowing very large sums of money at 0% and throwing it in the stock market, building a monumental house of cards. Just wait for some twitch to bring that down and the rest of us with it.

 

[Brians356]

By David Goldman, Pajamas Media, 12 May 2021:

NEW YORK – A 10% surge in used car prices pushed the “core” US Consumer Price Index (CPI) up by 0.9% in April – an annualized rate of increase of more than 11% – in the highest inflation print since the Great Financial Crisis of 2008. There’s worse to come, as higher housing costs feed into consumer prices.

The consensus forecast called for an increase in the “core” rate (excluding food and energy) of just 0.3%. We have been warning for weeks that visible price increases for homes, cars, and other items would produce an inflation surge.

Bureau of Labor Statistics data released at 8:30 am New York time shows a 5% annualized rate of increase of the cost of shelter. Home prices are rising at a 12% annual rate and the asking rent on the median apartment has jumped 17% over the past year, according to private surveys.

The shelter component of the CPI usually follows home prices with lags of 12 to 24 months, so a lot more inflation is in the pipeline.

Higher used car prices are in the pipeline as well, as US car production shrinks due to a shortage of semiconductors. The wholesale price of used cars rose 20% during the first four months of the year. Annualized, that’s a compound rate of increase of 68%.

With US$5 trillion of stimulus heaped onto US consumers since the Covid-19 crisis, US supply chains are creaking and breaking. Shortages of lumber, paint, industrial chemicals, and other basic commodities are constraining US production.

The federal government’s $300 per week supplemental employment insurance, meanwhile, reduces the incentive to return to work for the 8 million Americans who have lost jobs over the past year.

The National Federation of Independent Business reported Tuesday that jobs are harder to fill than at any time during the 50-year history of its member survey, and that constrains hiring plans.

The bond market’s measure of expected inflation – the difference between the yield of ordinary Treasuries and the yield of inflation-indexed Treasuries – jumped to 2.82% after the CPI announcement. That’s a hair below the all-time high for this measure of inflation expectations in March 2005.

The Federal Reserve continues to pump trillions of dollars of liquidity into the US economy by purchasing US Treasury securities, financing most of the US budget deficit, now running at a peacetime record of 15% of gross domestic product (GDP).

That leaves the Fed painted into a corner. If it raises interest rates to suppress inflation, the cost of financing the deficit will rise drastically. If it does nothing, eventually the market will force interest rates up, with the same effect.

Federal payments now make up 34% of all personal spending in the US, an all-time record. Ultimately the Treasury will have to cut back, leading to a sharp reduction in spending and an economic recession.
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[WindSurgeon]

I cancelled my deck build. Material costs went from $12k to close to $30k. Ridiculous. I'd never get the cost of that out of the added home sale price. Carbon fiber stocks may become all the rage again!

 

[STS]

I am looking to build, so I have an interest in this. No, I don't believe its inflation alone because if it were, the farmers would be getting more for raw timber...They are not.

This is still supply and demand but is a candle lit at both ends. The labor market is horrible, slowing production. Imported timber has been slowed, as has production...and demand is way up due to pandemic home projects. Add in the housing boom with low production, you have way more demand than product.even if the mfgs are intentionally slowing production.
Jmho, but the fact that real inflation hasn't caught up to farmer profits, is a really bad indicator or where lumber prices are headed. I really hope I'm wrong but I think it'll get considerably worse before it gets better. It likely won't get better until interest rates go up enough to significantly slow the house building down. At which point, inflation has already taken over prices of most everything. Bleak picture, imho.

We have 28.25 TRILLION in debt that we have to pay interest on. How much of an increase in interest rates do you think we could tolerate before it exceeds the entire cash flow of the treasury? They can't raise interest rates to fight inflation without defaulting on that debt.

 

[gunsandgunsmithing]

We have 28.25 TRILLION in debt that we have to pay interest on. How much of an increase in interest rates do you think we could tolerate before it exceeds the entire cash flow of the treasury? They can't raise interest rates to fight inflation without defaulting on that debt.

Yep, bleak picture! Damned if ya do..damned if ya don't situation.

 

[BigJohnson2]

Just got another letter from my garage door supplier; the same doors I bought last year for $2500 are now just under $4000. Thanks Joe.

 

[BigJohnson2]

We may be at the doorstep of runaway inflation. Hello Venezuela.

 

[dunraven]

Thank a dimocrat every day.

 

[Kracken McGraw]

Thank a dimocrat every day.

Yep!
Bettter add Mitch and Mitt to that list too!

 

[dunraven]

Yep!
Bettter add Mitch and Mitt to that list too!

ONLY dims printing and spending money right now. It started Jan 20.

 

[Brians356]

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[jk80]

ONLY dims printing and spending money right now. It started Jan 20.

This isn't going to be popular but the last administration rang up a 7.8 Trillion deficit. NONE OF THEM CARE! The party's change but neither party knows what fiscal responsibility is. Our future generations will pick up the tab.

 

[FNSafari]

I bought a single 1x6 yellow poplar 10-ft board today at Home Despot for $49. Eat your hearts out, boys.
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Lowe’s is just plain expensive. Their tool selection pales vs Home Depot

 

[GotRDid]

...and then leave the brass.

 

[Dgd6mm]

No more sticker shock for me, I've gotten used to it. Hey if you have to have it, you have to have it.
But I'll add, I'm not building a house or a big building, just finishing the inside of a 12x16 building. I bought most of the supplies 2-3 months ago. My electrician is dragging his feet or he's busier than I thought.

 

[yotehater]

No more sticker shock for me, I've gotten used to it. Hey if you have to have it, you have to have it.
But I'll add, I'm not building a house or a big building, just finishing the inside of a 12x16 building. I bought most of the supplies 2-3 months ago. My electrician is dragging his feet or he's busier than I thought.

Copper wire is out the roof too. He may be out.