2012Coleman wrote:
The Middle East situation :h
In case you are unaware, U.S. production of oil and other petroleum liquids has exploded from 5.5 million bpd in 2006 to 11.3 million barrels per day as of April. The oil companies have been complaining that unless the current export ban is lifted they will have to lay down their rigs and stop drilling — because there will be more oil than America’s refineries can handle. I would be surprised if gas prices go that high.
I never check my MPG while towing - it is what it is. Go camping and have fun! :P
A friend of mine in the oil industry in Louisiana explained it all to me. Oil is an international commodity. Apart from taxes, countries really do not control it. You can drill all you want in the US or Canada, the oil will go onto the international market to the highest bidder, not be used to lower domestic prices. It's a bummer, but the way it is. It also acts opposite to most other commodities where supply & demand control prices. With oil extra supply often means more demand which means higher prices. You can sort of see how this happens by looking domestically at what happened when prices were low. Conservation went out the window, and people went out & bought gazs guzzlers like Hummers, and the price went up. Mind you on a global scale, cheaper oil means more expansion in manufacturing (esp in China) which in turn raises the price.