There is no gas shortage...

Rickboy said

If you haven't noticed that gas prices are sorta high, you're either dead or live the life of a hermit..

But have you noticed that you never really have to wait in line to get your gas? Seems to be plenty of gas around.

So read this.. The mainstream media is finally starting to touch on this subject but Ed Wallace, writing for Businessweek started hitting on this subject a long time ago...





Read the rest here:
http://www.businessweek.com/lifesty...top+news_top+news+index_dialogue+with+readers

BTW, Ed Wallace has created a news aggregator on his website. I've found it to be pretty damn good, especially when it comes to economic and energy related news.

http://insideautomotive.com

Click to expand...

My understanding is that refining capacity has been tight but that a significant part of the price run-up has also been to due to speculation as well as the general level geopolitical uncertainty.

The situation in Iraq automatically builds some markup into the price of oil because the market can not be sure when or how the next crisis will hit and how that will impact regional oil prodution.

Likewise the expectation that there is some realistic chance that an attack on Iran will be launcned, with unpredictable repercussions, also fuels speculation in oil and gas.

Consumers have cut back and gas inventories have been firming but we have yet to see any price relief as a result of this due to the specualtion, which is supported by geopolitics.