Yep. You can't tell that to people that believe we can drill our way to cheap oil though. They firmly believe it's impossible, even though they've done zero research and are oblivious to the fact that all the oil recovery techniques we're using now are incredibly more expensive than it used to be a few decades ago. It's worse when you tell them there's no shortage of oil, just a limit on how much people are willing to pay for it. They only hear the first part. :banghead:
Not in 2012, and CA is the exception here. Elsewhere it is nowhere near as bad as there, with the national average at least a dollar to a dollar fifty less per gallon than CA. In my area, it's sub 4 and dropping for the upcoming winter season, as expected.
California in particular has some specific problems right now. Prices have been coming down here in Ontario over the last two weeks, so I'm not feeling that pain. It's come from about $4.92 on track for $4.55 (converted), and was as high as $5.22 a month ago.
Gas prices usually come down a bit after the end of summer. They're on track to again. The delay was partially due to the Middle East embassy protests, the 9/11 embassy attack in Libya, and lingering effects of Iranian oil coming off the market.
I am sure $6 will happen sooner or later. Not this year, not nationwide though.
California's gas price spike is related to A) Refinery problem limiting B) a Cali specific blend. They just need to open up Cali to the same gas blend the rest of the US has (at sub-$4/gal. prices) and their prices will return to normal.
Not going to $6 for a long time people, just calm the hell down. This is simply a temporary pinch in supply which will sort itself out in a couple months max.
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