Mmarrkk

US Oil Companies Borrow A Page From OPEC's Playbook

Todd: did you sleep through economics class? "Why are you and OPEC colluding to keep oil prices high by threatening to refuse to invest in more refining capacity." Do you really not see the lack of logic? If there is a shortage of refineries to use the raw product crude oil, how is that going to keep oil prices high? If there aren't enough refineries, doesn't that mean that there will be no place for the crude oil to go?? And if there is no place for the crude oil to go, then what happens? It sits in storage or it sits in tankers or it sits in the ground. In all cases, the demand for crude oil goes down. And what happens when demand for a commodity goes down? The price goes down.

Thanks for taking pot shots at the oil companies. But by including that comment in your post you reveal yourself to be lacking in credibility.