How much do you think? Certainly none has gone into making new refineries in the last 30 years and lack of refining capacity is the reason that they always give for shortage during the peak driving season. How convenient for them! You'd think they'd figure out when the peak usage was by this time and be ready for it with plenty of refining capacity. But no . . . they have no incentive at all to make more gas available and reduce prices for consumers. The more expensive gas is -- the more they can make on overrides. It costs them no more to refine it and transport it at $50/barrel than it does at $110/barrel. But they go ahead and mark it up on the American consumer anyway. Why . . . because they can. It doesn't make it right and the American public is paying very close attention to the profits being posted while their wallet shrinks. It's obvious who is paying for that windfall profit. And we want some of it back. The oil companies have always made good money, but they have taken advantage of an oil man in the White House and a republican congress to get very greedy recently.
how about=== -stop supporting israel -get out of iraq -and operate a sane fiscal policy to shore up the currency. but im really just pickin a fight with these. i think high gas prices are the first step of many long and painful ones that the us of a needs to go through to become a strong nation again.
New vs expansion? Looks like some $$$$'s are being spent. TABLE-U.S. refinery expansion plans | Markets | Reuters And multinationals have to protect investments worldwide, not just the US "Shell Joins $7bn US Refinery Expansion" "Shell Joins $7bn US Refinery Expansion" On September 21, 2007, Financial Times cited Booz Allen's Viren Doshi in an article about Royal Dutch Shell and Saudi Aramco's $7 billion investment to expand their Port Arthur, Texas refinery. Doshi said the investment had worrying implications for European refiners, especially if US demand weakens as a result of the rise of bio-fuels and more fuel-efficient cars. “A number of European refining companies rely on exports to the US. Sooner or later demand is going to plateau, and the biggest doom and gloom scenarios will be in Europe,” said Doshi.
Pandering. Does nothing to solve the problem. Temporary bandaid, popular with voters, look like you're doing something, when you're not doing anything important. What's the tax on a gal of gas? Bout $.60? I don't see it doing much. Just cheap pandering.
I didn't mention refining. But they do spend billions on exploration and extraction. Big Oil ain't the reason for $3.50 per gallon gasoline.
Buy smaller cars. Stop making 14 trips to Wal-Mart a week. Ride a bike to the corner store. Use public transport. Skip the long haul summer vacation and stay local. Drive 55-65 instead of 80. Check your tire pressure based on the outside temps. Change your oil filter and your oil. Change your air filter. Use gasoline additives that increase mileage. Don't use your A/C when it's nice out - let the wind into (what used to be) your hair. Do all or some of that, in large enough numbers, and watch the gas prices plummet. It's a market, friends. Demand signals are the most powerful price controls on earth. Leave the tax where it is - the roads are bad enough.
