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View Diary: The Oil Companies are like Scorpions: it's in their nature (5 comments)

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  •  Just explaining (0+ / 0-)

    If they're too old to retrofit, why haven't the oil companies upgraded or replaced them? If all existing refineries are running at full capacity, why aren't additional ones being constructed?

    My point here is that Big Oil is creating an artificial shortage here in the states by not investing in refineries. This ensures that even if the price of oil drops sharply, the price at the pump will not. It also saves them money by not having to "waste" it on increasing refining capacity.

    This is the same thing Enron did in California, artificially creating a shortage by not producing new plants and lines when demand increased, and then jacking up the price.

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