Gas Price Nonsense - Is It Just Me?
I will spare you a long and boring ranting. Here are just a few facts, loosely put together. You make your own mind!
a)
At this time of the year in 2006 the spot price for a barrel of oil was around $79 and the median gas price at the pump in the US was $3.03
b)
Last week the spot price for a barrel of oil was around $65 and the national median gas price at the pump was $3.19
Off course--this is a free market and it is not about the spot price for oil but all about refineries and their output--you are saying! Well how about this one:
a)
During the Hurricane Katerina aftermath, the US refineries reported their capacities down by about 25% and the national median gas price at the pump went up to $3.13
b)
Now they are telling you the reason for these prices is the fact that the refining capacities are down 11% and the median price is at $3.19
By the way; The big oil companies crying to us that it isn't them but the bad refineries--well 90% of the US refineries are owned by the big oil companies! This is like me saying it wasn't me, but my sons!
This ain't about any free market - call me crazy!
Labels: ddb's ranting
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