Then there's the price of gasoline....not totally based on the price of oil. What's going on with the GTL industry? We are awash in natural gas.
You can already purchase synthetic motor oil made from natural gas. Synthetic gasoline can't be too far behind.
That much is true...gasoline is in no way totally based on the price of oil...there are the refining costs, the transportation costs, the labor costs...and of course, the ridiculous gas taxes.
Sigh. I wish Thackney were still posting to FR. That guy knew of what he spoke.