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Good stuff on the House of Saud and all correct. They get on planes periodically, and as soon as they leave Saudi airspace, the women put on makeup, break out the champagne, change into designer clothing, and light up the cigarettes. They stay in the finest Paris hotels and spend, spend, spend. Think about that the next time you are pumping $2.25 gas!
Rudey, isn't it also true that we are importing much more gas than in earlier years rather than crude oil, and the competition on the open market from the Chinese and Indians has driven up the price? Those two economies are exploding and the demand for autos and gasoline are skyrocketing.
We have not built a single new refinery in this country since 1976, and thus we are forced to import GAS rather than the crude oil - naturally the "finished product" will be more expensive.
Additionally, our existing refineries are compelled to produce about 15 different formulations of gasoline in order to comply with different state laws.
We certainly could alleviate some of this by building 4-5 more refineries. And we can find a way to do so within reasonable (there's the catch - agreeing on reasonable) parameters. I think it's important enought to try.
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