Tuesday, June 24, 2008

Oil Production Up, Oil Production Down

Someone somewhere thinks that gas will return to $1.25, they think that by opening oil drilling off the coast of the US we can stop our reliance on foreign oil, they also think the Toyota Prius is the answer to the environmental crisis (of course to believe that, you have to believe there IS an environmental crisis). I envy this person.

Why, you ask? Because they live in peace, they really think that tomorrow, it will cost only $18.00 to fill up their VW micro-bus, or Burger King will get a special order right on the first try. No, really, they think that; and for that reason, they have fewer gray hairs than I do.

The Saudis are increasing oil production while Chevron has just had some uber-critical pipe blown out of the sky (well, the field, no doubt). It's $4.00 a gallon folks, get used to it.

Oh, by the way, the solution to gas prices (note I did not say "fuel" prices) is not only in oil production, but also in it's refinement. There hasn't been an oil refinery built in 20-something years.

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