2006-07-30 08:24:23 · 5 answers · asked by bob 3 in News & Events ➔ Current Events
There is plenty of oil. The problem comes in refining that oil. Due to federal legislation enacted to try and protect parts of the environment there have been no oil refineries built in this country in the past fifteen to twenty years. Our production level is at maximum output while the number of motor vehicles on the road keeps increasing every year. The demand for automotive fuel has subsequently increased while the refineries are not able to meet that demand.
Petrolium, diesel & gasoline are all commodities. They are purchased on commodoty exchanges and as the supply/demand is out of proportion the purchasers are willing to pay more knowing that they will probably be able to sell it for more than they paid for it.
2006-07-30 08:33:53 · answer #1 · answered by Albannach 6 · 2⤊ 0⤋
This is actually the best question of the day. How come the oil companies keep showing almost record profits each quarter. Its kind of a drag to spend 80 dollars twice a week to fill up your tank. I can't wait for my lease to end to dump my truck.
2006-07-30 15:30:58 · answer #2 · answered by messtograves 5 · 0⤊ 0⤋
Another right-wing plan gone awry..
beside you have to understand that it is not for your benefit, it is for the benefit of multinational oil companies that finance Bush and they have been having RECORD profits... you figure with a 10 billion dollar NET PROFIT they could charge us (who pay for Iraq war) a little less
2006-07-30 15:27:44 · answer #3 · answered by Anonymous · 0⤊ 0⤋
we only get a fraction of oil from the mid east the biggest percentage comes from canada and venezula
2006-07-30 15:30:22 · answer #4 · answered by tyler_durden_project 5 · 0⤊ 0⤋
good question ,but I am sure they will say it is Busch's fault.
2006-07-30 15:28:33 · answer #5 · answered by thumper 5 · 0⤊ 0⤋