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He's been around the oil business his entire life. I think he knows what he is talking about concerning it. That is too small to make an impact.
I haven't seen anyone mention anything about refineries.....which, in my opinion, is one of the greatest causes behind the increase in gas prices besides the futures markets and their uncertainty due to the conflict in the Middle East. Refineries used to use a gasoline product called Methyl Tertiary Butyl Ether to make cars run cleaner....but it also was a contaminate and was severely affecting water supplies. Now they are using ethanol and it is costing oil/production companies a boat load to switch over.
Even with the recent spikes in oil production, companies can't meed the demands of refineries because of having to produce ethanol. The cost to produce it is being handed to us people. You can thank Congress for that..although their actions were not a bad thing given the circumstances. Now add in state and federal taxes and you get a pretty good idea of why it is so high.
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