[tophat9000]

"Oil companies do not set the price of crude oil," Cavaney said. "It is bought and sold in international markets, and the price paid for a barrel of crude oil reflects the market conditions of that day."

"Companies are planning to expand refining capacity by 1.4 million bpd in the next few years, Slaughter said."

There seem to be as disconnect in these two statements...Price is drive low supply and high demand, right? ....but the issues is a low crude oil supply for current demand to refine (that the bottleneck) then why would expanding refining capacity be much help if there is a short fall of crude oil to refine with current refining capacity in the first place

yes I know there issue in refining capacity but is that the current issue driving price?

[CROSSHIGHWAYMAN]

One day in the not too distant future....home distilleries will provide go-juice for vehicles and farmers will man the filling stations.

[sinkspur]

yes I know there issue in refining capacity but is that the current issue driving price?

Yes. There is plenty of oil, but not enough refinery capacity to process it.

[thackney]

You should keep in mind oil and gasoline are world commodities and not limited to production and capacities only in the US.

[Wristpin]

"yes I know there issue in refining capacity but is that the current issue driving price?"

The dealer added cost is the fear premium added by the speculators for any number of mythical future reasons... The US may attack Iran, Nigerian rebels, hurricane predictions, or some guy may change his motor oil 100 miles early. They need to be going after at the "Peak Oilers" who have engineered the price of crude artificially high, not the people doing the work.