And boy, have they!!! All those BS excuses for raising prices are exposed...it was said that for prices to be at the level that they are, the price for a barrel of oil would have to be around $92.00 a barrel...and this was when it was around $60.00 a barrel. I stick by my guns that the oil companies are engaging in near-monopolistic price gouging...the government should step in and regulate this to some extent (fat chance)...this is another Enron California debaucle waiting to happen!
Refineries = the #1 problem!
The last refinery was built around 1976. Do you think that the demand is higher almost 30 years later? The oli and gas companies have no incentives for building new ones; they can just raise the price of oil and gas. I once heard a figure that it would cost 10 billion to build one. So, who is gonna pay for that?
It is a no win situation. Bringing Bush into this is without merit. This would have happened regardless of the president. It was going to happen and many predicted this. Its just that so many people are shocked and were unaware of it.
Why does it have to be Texas Cajun? Louisiana has more oil production than Texas because of the off-shore rigs. I believe that is your home state! :shock: eek!