…is what a California school will be paying for a $100 million loan.
Why is this state broke? Don’t ask me. Just listen to David Spady.
Posts Tagged ‘California’
Just what I need. Higher gas prices. This shit is out of control.
Refinery problems send California gas prices skyrocketing By Gary Richards
When Errol Emrich drove by a Shell station in his San Jose neighborhood last weekend, regular gas was selling for $4.05 a gallon.
On Monday, it was $4.15. On Tuesday, $4.25. And this weekend? Analysts say it could reach a whopping $4.40.
Problems at California refineries have slashed supplies across the state, cutting fuel production and raising wholesale prices — the price stations pay for their gasoline — by as much as 73 cents, to levels not seen since 2007.
And that almost certainly will boost prices at the pump again soon.
“California gasoline prices may surge in the next five days, perhaps to levels higher than February’s $4.33-a-gallon average,” said Patrick DeHaan, an analyst with Gasbuddy.com. “It is within the realm of possibility that average prices reach near $4.40 or even higher if the situation worsens.”
Bloomberg News reported that Exxon Mobil’s 150,000-barrel-a-day Torrance refinery lost power Monday and may suffer production problems for another week.
Tags: Axis of Idiots, California, Comrade Obama, Democrats, Government Failure, Governor Brown, High Speed Rail, Idiots, Liberal, Liberalism is a mental disorder, Politics, Stupid People
California’s high-speed rail should be dead on arrival. But the idiots running this state, are too stupid to figure out that it’s not worth the money. It’s a black hole that will need to be subsidized to keep it running. Mark my words
Now mark Chris Reed’s words…
By Chris Reed
Why California’s high-speed rail project is an even greater waste of federal tax dollars.
The national media have devoted plenty of skeptical attention to California’s bullet-train boondoggle—from the ballooning cost of the California High-Speed Rail Authority project to its shoddy management to the baffling decision to build the first segment in the lightly populated Central Valley. But the press has yet to focus on a crucial fact: the bullet train isn’t just some quirky Left Coast fiasco; it’s also a grotesque waste of federal money. The project serves as a powerful reminder of the Obama administration’s mishandling of the $787 billion stimulus that Congress passed in February 2009 with solemn assurances of prudence and accountability. The bullet-train project, in fact, can be thought of as “Solyndra times seven”—that’s how far its costs outstrip those of the much-touted Bay Area solar panel manufacturer that burned through $528 million in federal loans before declaring bankruptcy and folding last September.
In California, the federal government is committed to spending $3.5 billion—with most of those dollars coming from the 2009 stimulus—for a project whose problems are glaring. State officials are trying to remake the bullet train on the fly, promising at a legislative hearing in Silicon Valley to implement changes that would bring down the cost and speed up construction. But none of those changes alters the fact that the bullet-train project appears clearly to violate federal regulations governing stimulus spending on transportation. The rules, published in the Federal Register on June 23, 2009, require that applications for stimulus funds to build high-speed rail projects would be approved only after “rigorous analysis,” factoring in a careful examination of the proposed project’s “financial plan (capital and operating),” “reasonableness of financial estimates,” and “quality of planning process.” Grant recipients would make regular progress reports, corroborated by Federal Railroad Administration audits. Even the most cursory analysis shows that the California bullet train falls far short of compliance with the rules.