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Politics : Mainstream Politics and Economics
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To: d[-_-]b who wrote (9597)2/17/2012 3:05:25 PM
From: Bearcatbob2 Recommendations  Read Replies (1) of 85487
 
"Current gas prices at the pump in the USA are higher due to a lack of refineries not entirely per barrel prices."

I believe that is no longer true. In fact refineries are closing because of low profitability. The issue is far more complex. A lot of the disparity in the price of gasolines has to do with our dear friend the EPA. Different locations have to have different formulations to meet EPA requirements. This means that instead of gasoline being a basic commodity - in many ways in various localities it is a boutique commodity not subject to general rules of supply and demand.

Additionally we have a limited crude distribution system so that there are disparities in the price of crude that is used to produce the gasoline for different locations. Generally the coastal regions have gasoline based on Brent crude. Inland Midwest refineries have gasoline based on Cushing WTI. WTI is approximately $20 cheaper than Brent. I guess it is only fitting that the coastal regions - at least in NY and Ca suffer the highest prices. They vote in the people who make life difficult for the energy companies to say the least. There is a price for idiocy - if only the people realized it. Ah - no - it is better to blame the oil companies than the fools who are running our nation.

Bob
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