well, I highly recommend that you and others read some of www.thetruthbehindhighfuelprices.com and then get back to this thread. Richard Clough has been in the gasoline business and has well documneted evidence of massive closing of refineries and buyouts of smaller oil companies all to help keep the supply from getting large and thereby keeping the prices artifically high. He is like the Howard Jarvis of the oil business. The problem with some conservatives is that they turn a blind eye towards price manipulations and gouging because Rush says the oil companies have no fault and many of them have investments that are doing great in oil company stocks. Theere is plenty of corruption in the oil industry because they have not had to compete with electric cars, sugar alcohol and others much. That is coming to an end, thank God! Drill more yes, and FULL speed ahead with good alternatives for free market competetion just as we have in other industries.
I've been on Wall Street for nearly 20 years, most of that in the oil business. I've been making a living at it for 2 decades so I'd say I know a little about it too.
There is no manipulation going on.
While many older, less efficient refineries have closed, the expansions and upgrades at the remaining refineries have resulted in increased production of fuels similar to building a new refinery every year.
Many small independent refineries remain in business and have for decades. It is still quite the competitive market.