ping
This is very good news.
Here in the People’s Republic of CA, gasoline is far from cheap and rocketing higher thanks to the expensive blends we require out here, as well our pigheaded refusal to drill for more oil (we have plenty), refusal to frack, refusal to drill offshore, refusal to build more refineries.
$4 in L.A. is not low. By obamatard standards, sure.
In China you need to get on a waiting list to get a car and you enter a lottery to get license for it. If they uncork that bottleneck demand for oil will soar.
Someone is making a huge killing on oil in California. Gas prices jumped 15-20% for no reason. $4.00 + is typical.
Yes, special blends, only for California, etc. But no refinery explosions, or other supply constraint in the news. Those in the supply chain are making a fortune.
OK, I know, dysfunctional state, we deserve it, glad I don’t live there etc. This is not about that.
Your State Legislature is lustily looking at this as an opportunity to slap more tax upon a gallon of gas.
Pure trollop.
I pulled out an “old” file from 2009 where some pundit was going on and on about Peak Oil and a whole bunch of other disasters that never happened.
The pundits extrapolate the current point... they get money for that.