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Old 10-16-2008, 03:44 PM
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Hemidakota Hemidakota is offline
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I don't think that is a correct statement overnight in replacing gasoline.

Our country uses about 21.5 million barrels of oil per day. Our net drill is less than 6-million barrels per day. What is a true viable option John to make up the differences?

Right now, the refineries are running at 73-percent and along with oil output has been reduced to keep this artificial pricing. This data can be analyzed on the EIA website when you review past history and comparing to the number of tapped wells and refineries production. OPEC will need to make another attempt to again cut back on world-wide delivery of crude to keep up the artificial pricing level. However, at this point, the consumer had enough and thus will be done in vain when the market is clearly learned to move to other energy resources.

My concern is not seeing the price of retail gasoline falling fast along side with the drop of crude future spots to a normal wholesale gap pricing. Incredibly, when you see the wholesale gasoline going for 1.81 a gallon, what is the normal profit for any given retailer to make from this deal? The past reveals differently….

As our Asian partners crying out in today’s media, this global recession was caused by GREED.

Last edited by Hemidakota; 10-16-2008 at 03:47 PM.
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