Who/What is to blame for high gas prices in the United States?
decreased gasoline refining capacities by big oil (let’s blame the oil companies) to decreased production of crude oil by OPEC (let’s blame the Saudi’s etc.) Meanwhile gas at the pump continues to rise in price as do corporate profits to the tune of 40 billion for ExxonMobile in 2007. If you follow the money trail, it leads straight back to the 3 major oil companies (there used to be six). While they continue to spend exploration monies, they have not updated refineries which are acting as a kink in the flow of product from them to us. Why is this you might ask? To increase gas prices by creating a false shortage caused by a bottleneck at our mostly Texas-based refineries. It’s like me having a backyard full of gold for sale, but you can only pass one nugget at a time through a small knothole in a fence. The control of the gasoline flow is what sets the price at the pump even more than gas taxes or the per barrel price of crude. Look up the term “implicit collusion” in relation to busi
