Quote:
Originally posted by jas1552
No it's not. It's because of increased demand and lower supply.
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There is not a shortage of oil...there is a shortage of refinaries in the US. US oil companies will not build them and their excuse is that enviromental regs make the investment to return to long of a period and there is to small of a profit at previous prices. Saudi Arabia has offered to build some refinaries in the US...I do not know if it was a serious offer...but seriously doubt...even if it was the US would allow it.