Originally posted by MarkO:
...Cliff notes version : US and Chinese demand has put a pinch on available resources with little excess refining or pumping capacity to make up for it.
I've been yelling it at the top of my lungs for years: the Chinese are going to be the US's biggest economic threat bar none. Their exploding economy is going to rocket up the demand for oil and refined petroleum products like nothing the world market has EVER seen.
You can blame OPEC, the latest politican du jour, dumbass and completely idiotic consipracy theories over political/private enterprice price fixing, etc., etc....
The FACT stands that basic Keynsian supply and demand on a global level is what is behind the continuning rise in oil prices. The Chinese have over 5 TIMES the population of the US. A burgeoning middle-class hungry for personal transportation and other luxury items is going to push things to the breaking point that much faster and I'm not even considering India in this argument, either.
I'm also not going into the issue that the US hasn't built a refinery in over 2 decades, IIRC. Imported refined petroleum will continue to rise in cost as price controls will be outside our ability to sway or control, for the most part...
JaTo
e-Tough Guy
Missouri City, TX
99 Contour SVT
#143/2760
00 Corvette Coupe
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