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This infomation should be on page 10A of the daily fish wrap and maybe a minute TV news report.
I have some problematic news about oil prices which I believe hit $35 a barrel soon.
Unless some company is building a new oil refinery to replace to one that is closing in this article below, less oil means less gasoline and that equals higher prices.
Shell Oil Products announced Thursday it will close down a refinery in Bakersfield next year because of the decreasing supply of crude oil in the area, company officials said. The refinery, which has been in Bakersfield for 70 years and employs 215 people, depends on availability of San Joaquin Heavy Crude to make gasoline, gas oil, butane and other products. SOURCE
The breakneck pace of Chinese economic expansion is rapidly changing the oil demand map," the agency added, forecasting China would overtake Japan as Asia's biggest oil consumer in the second half of next year.
SOURCE