[MichaelP]

We are being pinched by price manipulation of the speculators on one hand, and the industry on the other. This will only end when there is no more meat to pick off the bones, or congress finally steps up!

Mike

[wayoverontheright]

In recent months, refiners have cut back their production to match drops in consumer demand and prevent retail prices from dropping.

No seller in a competitive environment (even in oligopolies) will REFUSE TO SELL when prices are low, let alone when prices are high. If you are a refiner of gasoline, how much money do you make on those gallons you don't sell? If your competition decides to sell to this particular customer that you refuse to sell to, don't you lose market share, if not the customer altogether? Something is just plain wrong with the statement from the article I excerpted. Is there only one refining company selling gasoline to retailers? I don't think so. You could sell ALL of your production with just a slight drop in your selling price, this is the way markets work.

Maybe someone who understands the oil market better than I do could enlighten me as to how the statement could be true.

[RightWhale]

Congress can’t do a thing about it. They can expedite building alternatives plants and nukes but that won’t be cheap. This is about the start of 25 years of pain if Congress is effective and successful, and the start of pain forever if they don’t.

[Dog Gone]

We are being pinched by price manipulation of the speculators on one hand, and the industry on the other. This will only end when there is no more meat to pick off the bones, or congress finally steps up!

Gasoline prices have not risen nearly as dramatically as oil prices in the past year.

When you're in agreement with a leftist organization, you should wonder why.

[redgolum]

It will end when you pay the same for basic goods as is the going rate in say, Vietnam. This is what free trade means.

It happened to Britain in the last century, and it is happening to us now.

[cartoonistx]