I assume your politicians are doing the same here in missouri.

All extra money generated from smokes, alcohol, gambling and gas are supposed to go to into those funds. And they do, but then they take out the money originally marked for it and put it into the general fund. Then they can give that out to anyone else they want.

Education and roads will never get more than what they are slated in the budget. And the public does not care enough and allows it.

And building a new refinery is all but impossible in the current regulatory environment.

That, and the energy companies can and have just expanded existing refineries to deal with demand. The ROI also sucks even if they could build new.

Are the markets even factoring in a potential deal with Iran yet? If one gets worked out, that adds hundreds of thousands of barrels into the worldwide supply per day!

Perhaps a little, but I wouldn't say very much yet.

Okay, cool. But it did drop from $3.83 to $3.59 in one week at Costco, so I think I'm safe to wait until the end of this week to fill up because it will be even less, correct?

Yes, all true.

Sure, I'd say you're safe. As long as I don't make a few phone calls.

Would Iran's oil even make much of a difference to America citizens because of the refinery issue you've cited?

LMAO

Oh shit, that's great

It would. Stop thinking of gas prices as a local thing, and start thinking of it as a global thing.

The worldwide oil market is probably the largest, most complex market of any commodity or item in the world. But it is WORLDWIDE, and highly integrated.

We're pretty much at the point now where supertankers heading for, say, London, get re-routed to New York mid-trip because a computer somewhere says so. That's an oversimplification to some degree, but the market is highly integrated.

Sure it would but not really because of refining. It adds to the global supply of crude. I haven't looked at the numbers in years, but the key for crude is spare supply and capacity. Back in the mid-2000s (I think it was), the GLOBAL spare capacity was something like 1 million barrels. So, if something happened (hurricane, war, etc.) that removed that extra supply, the market would understandably flip out.

I'll have to look it up now...

Thanks!

Thanks!

Closed at $45.17, down almost 4%