I heard this today (paraphrased): "Gas prices in this country are a result of dat ol' bugaboo supply and demand. Because U.S. oil companies can't drill for plentiful oil (there is more oil in Colorado then any other country in the world but we're not allowed to get it by law), or refine enough (because we don't have enough refineries which we won't build now even if allowed because it takes 20 years minimum for a refinery to begin to pay for itself and thus we are buying GASOLINE as well as oil from other countries because that is cheaper than building refineries). Thank you, Democrat Party whose majorities in Congress forbade both exploration/drilling of our enormous oil reserves and building of refineries for decades. World oil prices are what they are because most countries who have none of their own bid the prices up, and this country isn't going to get lower prices now."
I'd love to see the reaction of the arabs if our gov't said "let's use up the oil in the middle east, then we'll drill our own."
It has long been a problem with domestic refining capacity. There hasn't been a new refinery built in the last 30 years. I have every confidence Al Gore will soon find a solution as soon as his internet development royalties start kicking in.
It is like money in the bank. Just sitting there gaining value as other reserves are drained. Kind of like the entire state of Alaska. I'll tell you man, once GW starts flooding out the lower 48, I'm going straight to Alaska an buying glaciers by the dozen.
It is more than a dem or repub issues, it is a money issue. How stupid to think this is about dem or republican. Refineries could be built in and along the gulf of Mexico, in Mexico, but then profit margins would shrink for existing refineries...