Be sure you look at recent numbers.
Can we mention the outright Greed of the oil companys out there
That Hurricane had not hit land yet and they were reporting on the news that due to the hurricane, the price of a barrell of oil in europe rose to $70.00 a barrell
any oil pumped out of the gulf goes directly to us here, it comes out of the gulf and refined here in the US, why should that affect the price in europe
The oil companies built those riggs in the gulf, fully aware of the risks involved during hurricane season , and you can bet they stockpiled as much crude as they could ahead of time
sure they cant refine the crude there , but they have refinerys all over
This jump to $3.00 and now to 4.00 is nothing but greed and especially i times like this when people need theire services the most
those record prices that we hear of every day are being set by our own companys here, not europe or any where else
I was listening to a bit of Tom Martino today and he had some #'s on oil consumption, perhaps someone can find them and post them.
But from what I remember, we are refining 300,000 less barrels this month compared to last year. It's not that we don't have that oil to refine, they just aren't refining it (I don't think it's all because of all the refinery's in trouble either, as this was earlier this month aswell).
And they have stockpiled 5,000,000 barrels, I don't recall if a reason was given.