Yeah, $2.40 for premium up here in the bay area, and it's only 91 octane! There are many factors contributing to these exhorbanant prices. Granted, the OPEkker's cut production and we wasted Iraq, but one other major factor is, we just don't have enough refineries. My numbers might be off, but I heard we only have 13 major oil refineries in the U.S. On second thought, maybe that was 13 in California. I can't remember. Anyhow, we don't have enough! Everyone one of them is running at 100% production and even then they're not able to keep up with demand. Then they have to buy oil on the spot market, just to keep up, and that's ultra expensive.
The problem is, they need 100 acres to build a new refinery, and nobody wants one in their backyard. That combined with, it might upset the mating rituals of the bugeyed salamander or it promotes erosion or whatever BS the tree huggers can come up with! Add it all up and middle america is going broke just trying to drive from point A to point B.
Hey, here's a thought, we already have a serious military presence in the middle east, let's just take what we need! Isn't that what the Romans did?
Don't pay me no never mind. I'm just venting and talking out of my ass! (But it sure feels good!)