Quote:
Originally posted by Mmmm, Burger (C.J.)
Both. Well, demand equals supply because it always does. But the consumption of crude oil has gone up faster than production, which is why world oil prices are near their all=time high (which was set recently).
And gasoline demand further exacerbates this. U.S. consumption exceeds U.S. production, so gas is imported, which makes it more expensive. Production can't catch up with consumption because of limits on refinery expansion.
I'm not a shill, just trying to stop misinformation.
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OK. I honestly didn't know, which is why I said I think I heard. And the oil refinery article noted that none have been built for like 30 years in the US (though some have been expanded).
