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To: stickywillie

The law of Supply & Demand still applies. Excess refined fuels are exported which props up the high Futures Market for domestic gasoline, diesel fuel and jet fuel.
http://money.cnn.com/2011/12/05/news/economy/gasoline_export/index.htm


56 posted on 03/11/2012 11:15:21 AM PDT by Deaf Smith
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To: Deaf Smith
Excess refined fuels are exported which props up the high Futures Market for domestic gasoline, diesel fuel and jet fuel.

How in the world is excess supply going to "prop up" price?

Gasoline prices are high for the same reason gold jewelry is high. The base material it is made from is high in price.

Domestic demand is down, but globally, petroleum demand is up. Since we import far more crude oil than we produce ourselves, we are quite tied to the global prices.

73 posted on 03/11/2012 1:13:12 PM PDT by thackney (life is fragile, handle with prayer)
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