http://abcnews.go.com/Business/motor-gas-inventories-decrease-gas-prices-rise/story?id=13438587
Gas prices are up while gas inventories are down. That may mean extra trouble to drivers with just five weeks to go before the summer driving season begins on Memorial Day weekend.
In last eight weeks, gas inventories have dropped 32.8 million barrels, about 10 percent, according to data from the Energy Information Administration. Total motor gasoline in the U.S. was 208.1 million barrels for the week ending April 15, a decrease of 7.5 percent from a year ago. Inventory was 240.9 million barrels ending Feb. 4
If inventories are down, it would be somewhat connected the reduction in supply from Saudi Arabia, which cut production to ‘stabilize prices’ in the face of excess inventory (of crude). The inventory of gasoline is massively manipulated for profit.
My President has again confirmed that he sees no price gouging. I guess that is true, if you insist on keeping your gaze down on the books of domestic refineries and and stations. The cost of oil in the ground hasn’t changed since I filled up at $0.12/gal in high school. Does the phrase ‘gas war’ ring any bells?
The gouging is international. As the third largest producer in the world, our oil drillers are part of that gouging. Their paper transfers, they somehow make the case that California crude costs them the same $105/barrel, that OPEC charges us.
There are two Presidential options. We could have a real ‘gas war’, with the OPEC nations that openly operate a cartel, and remove about half of out GNP. The President might have ‘his Attorney General’ conclude that the profits that occur when a $10 recovery cost is converted to a $105 resale price, are taxable in California and the United States.
It must take a lot of grease to prevent that ruling. I’m glad the President openly refers to Mr. Holder as his Attorney General. He is certainly not representing the country. I guess we could refer to this country as ‘his nation’, until removed. It was once “OUR COUNTRY”.
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