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Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: Hope Praytochange who wrote (46559)	3/13/2011 8:46:53 PM
From: Wayners	Read Replies (1) \| Respond to of 103300

Gasoline prices have been rising steadily long before West Texas Intermediate Crude prices moved up because of Libya. In fact the delivery point of WTI in Cushing, OK is still flooded with way too much supply of crude because the delivery point is the now non-industrial midwest. All Nymex crude oil futures are delivered in Cushing. There is no river or port there. Yes the oil is being pumped by pipeline out of Cushing as max. capacity to places where the oil can actually be refined and used...e.g. the Gulf Coast, but it still isn't enough. An additional pipeline is in the works in the next few years. I think they are running gasoline like the DeBeers diamond cartel. There is an oversupply of diamonds, but DeBeers just stores the excess so they can charge much higher prices. Same thing with oil. They just store the stuff waiting for a higher prices. In fact they can store so much as to create a shortage at refineries. They can take refineries offline. They can lobby Washington and State Legislators that take campaign contributions to lobbby for additional regulations for anybody wanting to start any new refineries. Look it's all a rigged game to get the most for the product without causing everybody to run out and buy an electic car or hybrid. They want prices to hurt but not kill the patient. Gasoline prices have been high and are high because of manufactured refinery issues, refinery shutdowns for "maintenance" or refineries can't get the crude oil they need because of "pipeline" issues or barge issues or railroad issues or whatever the latest excuse is.