Why was the price of gas here 15cents for a long time? one thing was simply we were (as venzuela is) consuming our own oil.when demand outstrips supply is when prices goes up. iraqs gas as i recall was ten cents before the war.lots of places gas is 25cents.the difference is they have a abundance of oil,per capita.venzuela does sell oil on the world market.but it also has a low consumption rate,can produce all of its own gas out of its own oil before exports.since the late seventies the us doesnt have either the oil production OR the oil refining capabilities to do so.there hasnt been a new refinery built in the US since the seventies. last year something like five of them shut down for good. do you HONESTLY believe its cheaper for us to export our oil,have it refined and shipped back,than we could do it all here with no added shipping costs? oil companies arent quite that ignorant. if there was one dollar a barrel more profit to be made, that would add up to 7.6 BILLION dollars a year in savings alone at todays usage rates. not bad pocket change for any company,but for some reason no one is throwing up refineries here. why? simple, most companies build their plants where their raw materials are,not where the completed product is. they simply dont think theres enough oil left to make it profitable.
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Today's Featured Article - History of the Cockshutt Tractor - by Danny Bowes (Dsl). The son of a very successful Toronto and Brantford, Ontario merchant, and himself quite an entreprenuer, James G. Cockshutt opened a business called the Brantford Plow Works in 1877. In 1882, the business was incorporated to become the Cockshutt Plow Company. Along with quality built equipment, expedious demand and expansion made Cockshutt Plow Works the leader in the tillage tools sector of the farm equipment industry by the 1920's.
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