I might be simple, but ain't we supposed to get dirt cheap gasoline after taking over Iraq? Saddam has been captured, his sons, henchmen all have been killed off like rabbits. I live in the Bay Area, Northern California. Just today the gas price hit $2.04. The worse thing is my car only runs on premium, that goes up anywhere between $2.17~ $2.23. Iraq is now fully covered by USA troops, she has the 2nd most oil reserves the world. What are our boys doing there? Surely not playing basketball in the barracks.
The oil wells were bombed during Gulf War I and by enforcing the no-fly zone. Saddam didn't repair them because of the embargo, so around 70% of the oil wells aren't operational and the remainder need major repairs. It'll take 5 or 6 years and lots of money to rebuild them, but by that time non-OPEC nations will have peaked in their oil capacity and 95% of the oil supply will be from OPEC nations. With American control of the oil routes from Afghanistan to the Middle East, Bush's cronies have hedged their bets when the eventual peak in oil supplies occurs.
it's plain old simple price gouging. here in nevada we're getting some **** and bull story about two california refineries that are not operating at capacity. prices went up 6 cents in ONE f***ing day at a gas station near my house!!!! of course shrub won't do s***. he hasn't even talked about the fact that these oil companies are getting away with price gouging. I guess he's taking care of them before he gets the boot in Nov.
Light, sweet crude futures have been over $30/barrel since the start of December and over $34/barrel for the past month. As such, these soaring supply costs have fortold an inevitable rise in the gas prices. I believe the most tangable cause for the shortage involves unreast in Venezuela. Iraq's relevance to the equation is more of a long term issue.
Lemme see here folks, can you say law of supply and demand? You people are so predictable I can already read your little minds before you say it......price gouging. Do they not teach elementary economics in schools anymore?
They do, though many believe there is at least some evidence that supply is being artificially limited here in the United States.
