Oil Slick Stuff

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Buster said:
If all this is true..why isn't this all over the news and other high level exposure venues?..Why hasn't the science industry come out with this in public? Seems fishy if you ask me.

I sure wish it were true.
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They are doing the same thing the Global Warming Crew is doing. We will not run out of oil for a Loooong time if ever.
 
The “mystery” behind gasoline prices

Posted: March 20, 2013 by Ken Cohen



This time around, there appear to be a combination of factors at play that help explain the increase in the price of crude oil since December. And there are issues specific to the domestic gasoline market that further explain why pump prices have headed up in the U.S.

Among those factors cited by the Energy Information Administration, the American Petroleum Institute and other analysts and journalists in recent weeks are:

    • Strong worldwide demand for crude as the global economy improves
    • Declining crude production by a number of major producing nations
    • Rising demand for gasoline globally
    • Industry refinery outages in the U.S. and in Europe
    • Higher gasoline “crack spreads” reflecting tight high-octane supplies
    • The United States’ “quantitative easing” monetary policy contributing to a weak dollar
    • Geopolitical uncertainty created by a backdrop of political unrest in places like Venezuela and the Middle East
    • An increase in the cost of corn-based ethanol, which by law must be blended into U.S. fuel supplies
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The “mystery” behind gasoline prices | ExxonMobil's Perspectives Blog
 
We're not stupid only greedy!:cool:
The Golden State’s “self-inflicted crisis”

Posted: October 10, 2012 by Ken Cohen

What’s behind this costly surge for consumers?
Some politicians want to blame the energy industry. But what happened last week was a series of unrelated incidents that, when combined with California’s policies that reduce the ability of the market to respond, aggravated an already difficult situation.
It’s important to keep in mind that California’s energy policies have effectively turned the state into a “fuel island” – disconnected from the rest of the U.S. market. California’s state-specific fuel standards and isolated logistics mean that gasoline and diesel can’t be easily brought in from other states when there is a supply shortfall. And a host of only-in-California regulations have raised costs, making it more difficult for refiners to invest in new technologies, and have even forced several refiners to shutter their facilities.
Obviously, it’s a situation that leaves California motorists extremely vulnerable to supply disruptions. The market simply can’t respond adequately within these constraints.
It’s the basic law of supply and demand. When supply goes down and/or demand goes up, there’s usually a corresponding increase in prices that reflects how much more everyone across the supply chain is willing to pay to ensure they have access to a product that has become more scarce.
A corresponding drop in price happens when the market receives signals that a product is plentiful, which is what we are currently seeing as a result of the increase in natural gas production in the United States.
One of several causes in last week’s supply disruption involved ExxonMobil, but we didn’t have the power to do anything about it – literally.
An incident at a Southern California Edison substation cut the power that the utility supplies to our refinery in Torrance. To ensure safety, we were forced to suspend refinery operations, which meant suspending production of gasoline and diesel that supplies some of the California market. It compounded a problem already created by a disruption at a Chevron refinery in the Bay area, and by other unrelated problems. The markets responded to the drop in supply by pushing prices upward.
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The Golden State
 
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