wish people (^^^^^Not You, but the press etc) would just STFU and start drilling in AMWAR or whatever the North American reserve is called...
true! the fact that the media give such a crazy high "assumption of rise" we get the chance to kinda let it happen because we expect it to... if it rised without much warning we would be way more upset about it and maybe even make sure that something would be done but this heads up makes us soft to the fact that its rising. it also might be making it seem more ok that the oil co.'s are doing this.
Higher demand at the same supply rate. China and India are becoming industrialized at a very fast rate and with that comes a switch from bicycles to cars. India and China have two of the fastest growing auto markets in the world, so they're starting to use a lot more oil than they were just a few years ago. Combine that with the fact that OPEC refuses to increase production and there you have it. The oil companies aren't jacking up the price to increase their profit margin, the margin is the same as it was before the rise. They're just selling a whole lot more of it and at a higher cost/price than before.
^ That's a good point but I'm still p.o'd about it and am wondering why it is still happening. It's almost comical the way they interview people at the pump on the news, they are making a mockery out of it. It's annoying and frustrating.
Because we are using less fuel, the refineries are limiting production. Last week they were running at 60% capacity. So in turn, our stock piles go down a bit, and everyone panics that we are loosing gas reserves. It is a BS system that they have going on. Read Reuters every day. it will only take a week or 2 to figure out their lies. All the fuel data for the reserves comes out on Wednesdays, so always make sure you fill up before then. Russ
