scott146

Peak Oil Test Looming

Actually, the EIA's This Week in Petroleum reports have been showing US crude oil stocks sitting at the very top end of the historical average for quite some time(see my post US oil and gas update. So in my view, crude supply isn't the problem with respect to gasoline prices in the US. I think the key factor at this point is what US refineries are doing; the changeover to summer gasoline formulations, refinery problems, and the lack of investment in new refining capacity are what's driving gas prices higher.