Tuesday :: Jun 15, 2004

Expect More Gas Price Reductions, Like Magic?

by Steve

Remember as you read this that according to the Administration and its checkwriters in the oil industry, we have a shortage of refining capacity due to environmental regulations.

We've had no real changes in demand over the last three weeks, (if anything demand will only increase during the summer).

As far as I know, no new refineries have been built in the last three weeks, and the promised additional OPEC oil is still in the ground or tankers thousands of miles away.

Yet suddenly after bad press and polls for the White House on the issue, refiners magically produce more gas when they said they had no such capacity weeks ago. And magically the price of gas comes down.

Steve :: 9:08 AM :: Comments (13) :: Digg It!