[RHINO369]

How much of the oil sold in China is domestic? Otherwise I can't explain why China's price is so cheap unless they have a large source of oil. There's a reason in Venezuela the price is 14 cents, thats how much it'd cost here if we could break OPEC. I think its a mistake to let Iraq manage its own oil reserve. We should have sold it to an American company and taken the money we got for selling it and used to rebuild Iraq. Then made damn sure those US owned oil fields sold well below market price at 100% capacity. Oil would be at 10 bucks a barrel in 6 months if that happened.

[bjs1779]

I know. Take all the taxes off and we are still screwed. It is hard to believe their refinery efficiency offsets this.