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GasBuddy News Article

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Gasoline could reach $5 by July 4

PITTSBURGH TRIBUNE-REVIEW -- -

At the rate gasoline prices are going, don't be surprised to see $4 a gallon — or higher — prices at the pump by the end of May.

Motorists have seen the national average for a gallon of regular gasoline rise above $3.50 a gallon on just three occasions, but it has never happened this early in the year.

"Gasoline could be about $4 by Memorial Day," he said. "There could be places in the United States where gasoline will exceed $5 by the beginning of the summer, around the Fourth of July."


Read the Full Article

Submitted Feb 20, 2012 By: SkyWarnTX
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Gasoline could reach $5 by July 4 Back to Topics
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honda0105
Champion Author Tallahassee

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Message Posted: Feb 23, 2012 6:01:20 AM

talk it up to be sure it DOES go to $5, if only on the basis of panic speculation.
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Cashless
Champion Author Akron

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Message Posted: Feb 20, 2012 11:51:32 PM

Let's hope not.
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Rooster922
Champion Author Wilmington

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Message Posted: Feb 20, 2012 11:51:20 PM

mmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm
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SammyAdams
Champion Author Tallahassee

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Message Posted: Feb 20, 2012 8:26:49 PM

While there are many factors which can affect the price of fuel and consumer goods, one is often overlooked. Below is my post from the other news article referenced Feb 20, 2012 8:16:41 PM, which addresses this factor:

"Prices are not going up because 7 out of 8 people surveyed believe that prices are going up. I am surprised that prices have remained as LOW as they have for as LONG as they have. One of the biggest factors that determines consumer prices is the Federal Reserve. In fact, it would be more appropriate to say that the dollar is LOSING its value than to say that prices are going up. When the $1.5 Trillion now sitting in U.S. banks from "Quantitative Easing" (QE2), you will likely see prices go up like a Saturn rocket. Hyper inflation is soon upon US.

And because nobody seems to want to listen to the advice (much less take it) of Congressman Ron Paul, we can now go through an economic period that will make this recession appear like a Sunday school picnic. So brace yourselves and if you are listening, prepare yourselves.

You might consider investing in gold (expensive, I know) and silver. A more modest hedge against the coming hyper inflation would be ammunition for your guns. Most folks forget to restock, but think about it: a gun without ammunition is merely a paper weight. You will need the ammo that you don't use for trading for "beans" for protecting your goods from those who didn't see this period coming and/or didn't consequently prepare for it

Bush did his part and BO is certainly doing his bidding. So if you cannot seem to get motivated enough to defeat the Establishment candidates (Obama, Gingrich, Santorum, and Romney), at least prepare for what the next 4 years will be living under their rule."
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SammyAdams
Champion Author Tallahassee

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Message Posted: Feb 20, 2012 8:16:41 PM

From the article: "Several factors are driving up pump prices, but the chief one is crude oil costs that are being pushed up by international demand that is "rising more quickly than people had anticipated." said Moors.

Also putting upward pressure on crude prices are sanctions on the oil producer Iran, including a European Union embargo of Iranian oil that is set to kick in July 1 . . . "
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Both of these factors are driving fuel prices into the stratosphere. The sanctions of an oil producing country called for by our own President and the resulting increase in the cost of crude oil world wide. This is a curious move by a President in a re-election year with his country's economy in the toilet. But an even bigger factor was the subject of an earlier post of mine today which I am re-posting from another forum.

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Caduceus26
Champion Author Jacksonville

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Message Posted: Feb 20, 2012 6:59:46 PM

Makes me think that I'll be spending Independence Day close to home.
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gknee09
Champion Author Philadelphia

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Message Posted: Feb 20, 2012 6:31:13 PM

Headlines in May- People opt to stay home for the holiday because of rising gas prices!
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SkyWarnTX
All-Star Author Texas

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Message Posted: Feb 20, 2012 5:29:22 PM

---

OIL FUTURE COMMODITY SPECULATORS are OPERATING under the ENRON LOOP HOLE created by Senator Phil Gramm (R-TX) for ENRON and Kenneth Lay.

The "ENRON LOOP HOLE" exempts most over-the-counter energy trades and trading on electronic energy commodity markets from government regulation.

Wendy Gramm, Senator Phil Gramm's wife, coincidentally was the former chairman of the Commodity Futures Trading Commission, After leaving the CFTC, she took a seat on Enron's board of directors,

On June 22, 2008, then U.S. Senator Barack Obama blamed the "Enron loophole" for allowing speculators to run up the cost of fuel by operating outside federal regulation.

---

What ENRON did to CALIFORNIA’s ELECTRICITY Market, REPUBLICAN SPECULATORS are doing in the OIL FUTURES MARKET now...

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OIL FUTURES MARKET SPECULATORS are PLAYING the ENRON LOOPHOLE

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Gas Pains and the ENRON LOOPHOLE

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There is NO SHORTAGE of REFINED GASOLINE in the U.S., only an OVERABUNDANCE of SPECULATOR GREED in the OIL FUTURES MARKET, bidding up the PRICE of OIL CONTRACTS, that INVESTORS NEVER TAKE DELIVERY OF.

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DRILL BABY DRILL then EXPORT somewhere else does not make any sense. U.S. OIL Companies Export 117 million gallons per day of Refined GASOLINE... from the U.S. away to OTHER COUNTRIES... to keep the price up...

---

MANIPULATING the OIL FUTURES MARKET is a “Suited-Up” RICH MAN's GAME, played on the BACKS of HARD WORKING AMERICANS.

---

Investors have moved out of Financial Stocks into OIL FUTURES Market which currently have a higher rate of return. See this REPORT from KTLA

---



[Edited by: SkyWarnTX at 2/20/2012 5:31:28 PM EST]
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SkyWarnTX
All-Star Author Texas

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Message Posted: Feb 20, 2012 5:17:34 PM

---

Senator Phil Gramm (R-TX_, As Republican chairman of the Senate Banking Committee from 1995 through 2000, Gramm was Washington's most prominent and outspoken champion of financial deregulation.

Phil Gramm played a leading role in writing and pushing through Congress the 1999 repeal of the Depression-era Glass-Steagall Act, which separated commercial banks from Wall Street.

Phil Gramm also inserted a key provision into the 2000 Commodity Futures Modernization Act that exempted over-the-counter derivatives like credit-default swaps from regulation by the Commodity Futures Trading Commission. Credit-default swaps took down AIG, which has cost the U.S. $150 billion thus far.

----

It appears that we are operating under SEN. PHIL GRAMM's (R-TX) ENRON LOOP HOLE
The "Enron loophole" exempts most over-the-counter energy trades and trading on electronic energy commodity markets from government regulation.[1]

In September 2007, Senator Carl Levin (D-MI) introduced Senate Bill S. 2058 specifically to close the "Enron Loophole". This bill was later attached to H.R. 6124, the Food, Conservation, and Energy Act of 2008, also known as "The 2008 Farm Bill". President George W. Bush vetoed the bill, but was overridden by both the House and Senate, and on June 18, 2008 the bill was enacted into law.

Wendy Gramm, Senator Phil Gramm's wife, coincidentally was the former chairman of the Commodity Futures Trading Commission.[when?] After leaving the CFTC,[when?] she took a seat on Enron's board of directors.[when?][2]
On June 22, 2008, then U.S. Senator Barack Obama blamed the "Enron loophole" for allowing speculators to run up the cost of fuel by operating outside federal regulation.[3]

---
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EricSorenW
Rookie Author Florida

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Message Posted: Feb 20, 2012 5:07:09 PM

Everything is going to rise in consequence...
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Alfied
Champion Author Riverside

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Message Posted: Feb 20, 2012 4:39:21 PM

Up and down, up and down makes the world go around.
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Romey08
Champion Author Virginia

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Message Posted: Feb 20, 2012 4:15:36 PM

huge profits for the oil companies
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bigoilscamsus
Champion Author Lansing

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Message Posted: Feb 20, 2012 4:10:23 PM

RISE UP!!!
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Soglaos
Champion Author Virginia Beach

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Message Posted: Feb 20, 2012 4:06:37 PM

speculators they need to go away
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srchr
Champion Author San Jose

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Message Posted: Feb 20, 2012 4:05:58 PM

politix
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salog
Champion Author Columbia

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Message Posted: Feb 20, 2012 4:05:19 PM

says someone that most likely owns oil stock
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caddilac
Champion Author Ontario

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Message Posted: Feb 20, 2012 4:05:01 PM


No big deal, I drive very little in July anyway.

It will mostly effect those that waste gas by going on 'road trips' at every 'long-weekend' holiday, or those that sit in the 'Drive Thru' lanes of McDonald's, Burger King, their favorite coffee shop, bank, etc.

One has to pay for laziness.......by burning gas going nowhere while decreasing the weight of their wallets, and watching their waistlines increase in size and weight (super-size them waistlines folks along with those mega-meals at the 'Drive Thru' windows).


[Edited by: caddilac at 2/20/2012 4:10:03 PM EST]
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Billbop
Champion Author St. Louis

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Message Posted: Feb 20, 2012 4:03:21 PM

Proving explicitly that America has moved away from a true "supply and demand" economy. In the last month we have read where we are literally exporting more than we are importing and we are using less than anytime since 1997. The Big Oil folks are running their business like all monopolies do, profits first, second and third, and country and people last.
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DeHavilland
Champion Author Toronto

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Message Posted: Feb 20, 2012 4:01:07 PM

Good point Rochbear, good point.
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boatcrazyinme
Champion Author Maine

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Message Posted: Feb 20, 2012 4:00:42 PM

we dont need it.
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streetcars
Champion Author Toledo

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Message Posted: Feb 20, 2012 4:00:03 PM

Someone is gonna get filthy rich
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badspots
Champion Author Houston

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Message Posted: Feb 20, 2012 3:59:08 PM

Ok.
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RochBear
Champion Author Minnesota

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Message Posted: Feb 20, 2012 3:58:04 PM

that "Could" word again. How about reporting FACTS, not Coulds.
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dieselme2011
Champion Author British Columbia

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Message Posted: Feb 20, 2012 3:57:48 PM

speculators
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heardva
Champion Author Virginia Beach

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Message Posted: Feb 20, 2012 3:57:33 PM

okay
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Algernon
Champion Author Greensboro

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Message Posted: Feb 20, 2012 3:57:01 PM

Vote Obama out in 2012!!!
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freerobert
Champion Author California

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Message Posted: Feb 20, 2012 3:54:30 PM

If I remember last year correctly, I believe that prices wer going up early on in the year, and then dropped back some.
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kelly1016
Champion Author Victoria

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Message Posted: Feb 20, 2012 3:50:37 PM

COULD be that high or perhaps not. That is rather nebulous.
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MadTraveler
Champion Author Idaho

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Message Posted: Feb 20, 2012 3:49:26 PM

This is what the government has been hoping and working for - hope they are happy and I hope we can put them out of a job.
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balljars
Champion Author Michigan

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Message Posted: Feb 20, 2012 3:48:44 PM

I only Hope and Pray that we can make some changes in November.
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LSU_TIGERS_dmb
Champion Author Louisiana

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Message Posted: Feb 20, 2012 3:45:43 PM

This way Obama thinks can get Green fuel and jobs. Hurry up november so can get rid of Obama and get a president that will lower oil and gain jobs.

NOT higher oil and lower jobs as Obama has done for 3 years...
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njerald
Champion Author Seattle

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Message Posted: Feb 20, 2012 3:44:07 PM

It's the Liberal WAY
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humblepie
Champion Author Toledo

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Message Posted: Feb 20, 2012 3:42:54 PM

or by memorial day
omg 2012.........
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sbazz
Champion Author Cleveland

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Message Posted: Feb 20, 2012 3:42:53 PM

No matter what we do the price will keep going up. They are the children of the devil
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Racerbob
Champion Author Rochester

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Message Posted: Feb 20, 2012 3:42:29 PM

Back and forth to work. That is all we will be driving. Mr. Obama is going to be on his way out the door for sure.
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Babe4
Champion Author Flint

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Message Posted: Feb 20, 2012 3:40:40 PM


Perhaps they should make a nice double wide bike trail right next to the expressways and call it 'Bikers Express'.
Then we can really show them that we don't need their 5 & 6 Dollar gasoline!!
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Camaroman
Sophomore Author Rochester

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Message Posted: Feb 20, 2012 3:38:48 PM

I agree Bargaindriver, we should stop driving as much, but unfortunately the oil companies will only have more refined gas to sell overseas.
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jeromehasbargen
Champion Author Minnesota

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Message Posted: Feb 20, 2012 3:37:13 PM

If it does reach $5 a gallon by July 4th I will be making very good use of my bicycle.
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donny47
Champion Author New Hampshire

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Message Posted: Feb 20, 2012 3:37:06 PM

we pay or walk!
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batman66
Rookie Author Michigan

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Message Posted: Feb 20, 2012 3:36:34 PM

I would like to know why(besides greed by the oil company)
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Bargaindriver
Sophomore Author Cincinnati

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Message Posted: Feb 20, 2012 3:35:26 PM

If gas prices rise to $5, most people will probably just not drive and stay local for the summer. They may be free to raise the prices, but we're free to park our vehicles and stay home.
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otherdave
Champion Author Indiana

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Message Posted: Feb 20, 2012 3:33:34 PM

Won't take that long!
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GoGoGoodyear
Champion Author Los Angeles

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Message Posted: Feb 20, 2012 3:32:41 PM


Every summer the gasoline prices spike, it does not take a crystal ball to figure that out. If prices rise, the bad economy will go on even longer. But many things can happen between now and summer.
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mlmeng
Champion Author Michigan

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Message Posted: Feb 20, 2012 3:31:21 PM

This won't sound so bad next year when it is $6 by groundhog day.
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Old Timer
Champion Author Akron

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Message Posted: Feb 20, 2012 3:29:27 PM

Would be bad news.
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carpenter4u
Champion Author Virginia

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Message Posted: Feb 20, 2012 3:28:07 PM

they say this so that you will be happy that prices only reached 4.50
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Nutfield1
Champion Author Vermont

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Message Posted: Feb 20, 2012 3:26:10 PM

If it does hit $5, gas will be the least of our problems... you won't be able to buy food as prices would soar!
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Steady325
Champion Author Orange County

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Message Posted: Feb 20, 2012 3:25:05 PM

surprising
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MustangRacing
Champion Author Virginia

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Message Posted: Feb 20, 2012 3:24:11 PM

The news media feed the speculators who in turn feed the news media.
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BigBillMI
All-Star Author Detroit

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Message Posted: Feb 20, 2012 3:23:50 PM

i like the Sky is falling thing
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