Posted on 05/28/2007 6:55:02 AM PDT by Flavius
DUBAI (Reuters) - The world oil markets are well supplied and price volatility is the result of a lack of refining capacity in the United States, not a shortage of crude, Qatari Oil Minister Abdullah al-Attiyah was reported as saying on Monday.
"Price volatility is the result of factors that are unrelated to crude supply, which is available in large quantities, but (because of) a lack of new refineries in the United States over the past 40 years," Qatar's official news agency, QNA, quoted him as saying.
(Excerpt) Read more at news.yahoo.com ...
Who says they don’t listen to our best “excuse makers.”
how much does gasoline cost in Iraq?
Then why is crude $65/barrel?
“Then why is crude $65/barrel?”
Ask Wall Street.
Every time there is even a hint of conflict between the U.S. and Iran (Iran being an Oil country),the speculators in the market just start buying up all the crude stocks they can. Which drives the price up.
When everything seems to calm down they sell and the price drops.
Chuck Schumers’ making new refineries. (sarcasm, he’s been worthless for longer then Hilliary’s been a Senator)
Isn’t it amazing how Q’atar gets it, and our politicians don’t?
Yep. Didn’t he try to bring down the British government through market manipulation?
Or was that another country?
There is some truth to that, but trader hysteria cannot keep prices as high as they’ve been for as long as they’ve been.
I think they’re just not producing quite enough.
Yeah. I just thinking the same thing.
If the market is flooded with crude, then it would seem logical that the price per barrel should fall. Not increase.
Now a lack of refined crude, into fuel, would cause the price of gas and diesel to go up because of short supply.
You’re right. Something here doesn’t make sense.
Maybe if the Rats would let us build a refinery every 30 years???
Pray for W and Our Troops
Well, on the brighter side, we do have the greatest numbers of Spotted Owl's....
Oh right, that is why a barrel of oil costs so much. Oil is the supply to the refineries. It is the price of oil that is high.
Supply and demand is what directs a free market and if the supply isn't there, we will pay more.
If we can't refine the crude to put it to use to keep up with demand we will use less crude and thus the price at the pump increases.
Recently the price of crude dropped again, however the pump price didn't.
We have two options, maintain our usage and increase refining capabilities or stifle refining and pay through the nose for everything else along with gasoline and produce "imitation fuel" with other products.
Presently we have so many different types of fuel required by federal mandate that it's no wonder the refineries can't keep up.
Free market is free to show pricing to reflect this.
for high prices
they are saying the cost of gasoline is due to lack of USA refining capacity
no brand new refining capacity in 15-20 yrs
however , Exxon is planning to open up brand new refining capacity in CHINA
they are propping up their share value by purchasing back their shares and not doing any drilling or expanding refining again in USA
all eyes are on CHINA 3000 dollar cars, and 1.2 Billion consumer that want to get of the bicycles
“Presently we have so many different types of fuel required by federal mandate that it’s no wonder the refineries can’t keep up.”
Yeah. What’s up with that?
When is the government going to stop pandering to the environmentalists? (rhetorical question. I know)
Better question is "what is their federally mandated fuel mixture"?
I bet they have none.
When people wise up and no longer give hard earned money to environmental organizations so the politicians can no longer see them as a lucrative cash source.
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