Originally posted by ODC: Simple fact, supply is steady, demand is increasing drastically.
Yet there is adequate supply to meet demand, so there is no reason for the price to go up. It is not needed to encourage additional production.
But right now, there isn't! I know that here in the state of Mississippi, we did not have a single gas truck make a single run from one of the many refineries here in the SE to a substation until around 1pm. Up until then, none of them could bring any products to the substations and hince the service stations. And yes, because of the mad dash everyone made and all the stupid rumors, some service stations ran out of gas.
I am not very familiar with the logistics of all these refineries, but I'm sure that if most of the countries refineries are located somewhere in the SE and it had a small impact on us, I can understand how it would have an impact on everyone else too.
Originally posted by Zoom Zoom Diva:Steve Forbes believes the price is horribly over-inflated, and foresees the bubble to burst... to half price in the next 12 months.
I believe him because I think this will be the straw that breaks the camals back. Or country for that matter. I heard last night, on the Oreilly Factor, that it cost OPEC $4 dollars a barrel for crude. And since oil futures closed just above $69 a barrel, someone is gouging prices!!
