Inflation moves higher
The latest report on inflation is out and it is not good news
Gas prices rise in the new year
Wholesale gasoline prices in the US are up 6.3% since January 1 says Trading Economics.
California is getting hit even harder, says oil analyst Tom Kloza noting the reduction in the state’s refining capacity.”Ongoing West Coast gasoline spike has nothing to do with crude or tariffs. Bay Area refining capacity in 2019 was ~800,000 b/d. Today, thanks to closures, Martinez fire, and maintenance, that capacity is ~400,000 b/d. No margin for error.”
AAA says California retail gas prices have risen 36 cents in the past month.
Tractor sales are down 13 percent
Here is the latest report from the US tractor makers.
Big winemaker announces layoffs
Bronco Wine Company, one of the largest wine producers in the United States is owned by the Franzia brothers, Fred T. and Joseph S., and their first cousin, John G. Franzia. In November 2024, Dominic Engels was named as the new CEO of Bronco Wine Company.
This week the company announced layoffs of 81 employees at their Ceres California facility. The winemaker sells 250 brand names including the famed ” 2 Buck Chuck ” Charles Shaw brand sold at TraderJoes. California wine sales have been in the tank the past few years and a grower trade group has been lobbying members to pull more vines, particularly from the Central Valley, to right size production.
Bureau releases Shasta water as dam level rises
The US Bureau of Reclamation recently began to release water from the states largest reservoir as it was approaching the 4,500,000 acre feet capacity of the reservoir after substantial rainfall in the past few weeks. Shasta reservoir started the water year ahead of average after two wet years. Here is the chart of water releases in the past week.
