The price of a gallon is way too high for the barrel.
Think about how much a barrel of gas was in the early 1990s, and then how much we paid at the pump compared to today.
Honestly it should be about 55 cents a gallon. Of course that would make our economy boom, but they don't want us to have that.
Do you think the EPA, taxes and refining regulations are unchanged from the 1990s?
We spend way more today to turn that crude into retail gasoline.
That is only $23 a barrel. And the whole barrel of oil doesn't become gasoline.
Yeah, but it's not the nineties anymore, corporate taxes are higher, wages are higher, and EPA regulations impose a higher cost than they did then. Obamacare figures in, too.