The truth behind those $#@*!# gas prices

[MDimitri]

Found this on MSN and found it an interesting read, thought you guy's might like to read it. End of the day it all boils down to the environmentalists blocking the new development and construction of some much needed refineries. According to the article current US production of Gasoline per day is 17million barrels, current daily demand is 22million, therefore, the US needs to import 5 million barrels a day just to sustain itself, now throw in a harsh winter or severe tropical storm this quickly damages the supply ratio causing the US to purchase more in order to compensate for the difference. Since the US cannot produce any more internally it has to go externally to purchase it's requirments and help replenish what was lost or used up. This leaves them wide open to global oil pricing predominately controlled by the Saudi's and since they will sell their oil only to the highest bidder (changes daily) that leaves everyone out in the dark when it comes to pricing. How do we stop this? Build four to five new refineries that can stabalize the demand and prices, buy more oil from Canada and stabalize the North American gas prices. Domestic made gas is way cheaper to produce because it does not have to travel so far in order to get to it's final destination. Oil companies break even when the price per barrel is around $20-$25US/Barrel, if we could get the price per barrel down to the $40-$50 mark we would be laughing.


Those $#@*!# gas prices

Cheers!