BIG OIL

whtfucover said...

"they should have had an export ban then. Millions of barrels a day came from that pipeline and they shipped to the Middle East to be refined, instead of keeping it here"

They haven't built a refinery since then. Did you know a lot of the oil that comes from here has to go overseas to be refined because of the lack of refineries

Also read this
GAS1

And This:
GAS2

And while you are at it, this:
GAS3

I read two of the articles, the PDF I wasn't able to, for some reason my PDF reader stopped working.

Anyway, one of your own articles you cited, the one from Townhall, states:

Exxon-Mobil's recent profit margin was up to nearly 9 percent of sales. Suppose they tried to cut that to a nickel out of every dollar by offering to sell crude oil for $3 a barrel less than the going price on the Chicago mercantile exchange. Refiners around the world would instantly commit to buying every drop. By the next day, the world price of crude would be same as before.

Now you mentioned before about Economics. Well, if all the refineries bought up all the available oil, then that would create a surplus for those refineries. Surpluses tend to drive down the price, because you want to move the product instead of having in storage. It cost money to store it all.

What needs to be done is add on to existing refineries instead of building new ones and possibly harming the environment and to start working on alternatives. Speaking of which, one of the smaller companies, Entec, has been advertising that they are going to install ethanol pumps at all of its stations. This country produces so much corn that its stockpiled. And heck, put all those moonshiners to work, afterall moonshine is ethanol. That's why in the country, those moonshiners use it in their cars.