Gas is cheap in Saudi Arabia
Yet, another reason for oil prices to artificially high. I truly don’t believe that anyone has a good handle on gas prices. There aren’t enough refineries in the US some say. Why not? Because, in my humble opinion, there is no downside for oil companies to choke of gas supplies and allow the price to rise. If they make too much gas then gas prices fall. Therefore, no new refineries. By choking off supply at the refinery level the oil companies build a cushion or a supply of crude just in case something happens. Hugo Chavez goes nuts or a Russian