Posted by AuntieMel on September 14, 2005, at 10:50:42
In reply to Revolution, posted by cockeyed on September 13, 2005, at 20:43:43
There's a bit of a flaw in your argument.
Gas(oline) and oil are not the same thing. We could take every drop of Iraqi oil and the price of gasoline would hardly change.
One of the biggest things affecting the price of gasoline in this country is the lack of refining capacity. We haven't built a new refinery in over 30 years! There is a huge attitude of 'not in my back yard.'
The refining is all in a small number of locations. And the hurricane took a couple of those refineries out of commission. And each location in the country has it's own requirements as to what can be in it's gasoline - and those requirements change from summer to winter.
We can't blame just the feds for the price of gasoline. Individual state and local regulations also play a part.
I predict there will be more congressional investigations, and as in the dozens before nothing will be found that suggests collusion of any sort.