Uh, I'm college educated, too, but I think you're missing a couple of points.
1) Supply and demand does account for some of it. 2)Greed and speculation (read "young hotshots sitting at commodities desks in investment banks vieing for career advancement on the basis of their trades") accounts for more. 3) You left out the weak dollar, with all its causes, which only exacerbates the effects of 1 and 2.
Don't leave out the green and NIMBY factors. Those, to me are the most exasperating. How many soccer families run big SUVs, but like to think that at their core they are environmentally responsible (worse yet, couldn't imagine being seen as anything else!), and so support cleaner fuel while opposing the building or expansion of refineries? My observation says, "A lot of them."
1) Refinery capacity -- few if any new refineries in this country in years, and severe obstacles to any plan to expand capacity in esisting facilities. 2) For years we've heard about loss of capacity attributed to shutdowns for conversion from summer to winter blends of gasoline. We now face the same issues on #1 and #2 as refineries adjust to the new ULSD which, quite apart from it's effect on road diesel, has effected the pricing of off-road diesel and home heating oil.
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Today's Featured Article - A Farmall Restoration Story - What's Been Done So Far - by Sean Brinston. This is a story of my first real tractor restoration. My name is Sean Brinston and I was 15 almost 16 at the time of this.My neighbour directly across the road who I had helped with hay all the time had this tractor sitiing at his house for what I thought was 6 years. Finally I got the money and courage to ask him. I phoned him and he said it was already sold, eight years ago!
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