Cheap gas for California: So far in the fourth quarter, California gasoline is the dog that hasn’t barked. Once predicted to command $1-$2/gal above CME RBOB, Los Angeles gasoline is trading for 6cts/gal UNDER January RBOB futures. Supportive of some $3.25/gal or lower pump prices. Oil Analyst Tom Kloza
The avian flu is devastating marine mammal populations. A new survey finds that nearly half of breeding females in the world’s largest population of southern elephant seals were killed by the virus.NPR notes that concerns about bird flu mostly focus on infected livestock and humans, but it’s also reached marine mammals in some of the world’s most remote areas. Of course elephant seals use the beaches of the Central Coast for birthing and mating.
China is not buying our soybeans as fast as Mr. Trump had promised. So far they have purchased only 3,000,000 tons of a promised 12,000,000 tons by the end of this year. Now a Trump aide suggests that they won’t be buying the promised amount until “the end of the growing season.”Instead of doing sales, Trump is now offering a $11 million subsidy to help prop up the farm economy. Soybean futures have dropped nearly a dollar since mid February.
Closures:LA appliance store closes – blame tariffs?
Howard’s Appliance store closes 17 store LA chain. The appliance retailer is a 100% employee-owned company who suddenly closed this month said to have been impacted by tariffs.New tariffs imposed in mid-2025 on imported steel, aluminum, and finished appliances (like washing machines, refrigerators, and ovens) raised prices by an estimated 5-10% for consumers. Also Howard Miller clock and furniture company is closing permanently after 100 years selling off its inventory through early 2026 according to reports. The shutdown is attributed to tough economic factors like a struggling housing market, inflation, and tariffs, impacting their ability to remain sustainable. They are holding a going-out-of-business sale for their final products. Brazil-based JBS owned Swift Beef Co in Riverside CA is closing their plant laying off 372 workers according to a state WARN report.
Another worn report filed this week says Palo Verde Hospital in Blythe California will close laying off 62 employees. The report says the closure is permanent.