A number of senators are petitioning the FTC to probe whether oil refiners kept inventories...

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Jason Rines (iThinkBig) Comments (2231)
 
Just like 2008. Second verse, same as the first.
17 May 2011, 01:09 PM Reply Like

Windsun33 Comments (3924)
 
I think we have seen this phony posturing scenario before.
17 May 2011, 01:10 PM Reply Like

njrobby Comments (84)
 
So, they tell them not to drill for a year, then they ask why their inventories are low? Seems like a straight forward answer there...
17 May 2011, 01:13 PM Reply Like

DianeLee Comments (294)
 
Politics and posturing. Apparently thrashing banks and oil, the twin bogeymen of politics, are still the popular political cliches. Remember the 'moratorium' on offshore drilling, anybody?
17 May 2011, 01:18 PM Reply Like

Duude Comments (3274)
 
First, refiners are never at 100% capacity as maintenance is a recurrent part of effective operation. But aside of that, if refiners were to fill up on all the oil they could all the time, changes in the price at the pump would be drawn out over an even longer time period then they are now. Fuel prices would become even more inelastic than they are now with resultant higher prices for the longer term. This is a lesson Senators are about to be schooled in. Instead, look to refinery profit margins. If they're historically high, then a case might be made.
17 May 2011, 01:21 PM Reply Like

Poor Texan Comments (3488)
 
I keep wondering if all this 'posturing' is a prelude to nationalization.
17 May 2011, 02:10 PM Reply Like