USOIL

More grim news from Yahoo! News: “U.S. crude stocks have risen by 27 million barrels over the past month and on Wednesday, analysts expect that the government will report that trend has continued. Crude inventories could grow by as much as 3.4 million barrels, according to the average of estimates in a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos. That has not led to savings at the gas pump for many motorists, however. Refiners have cut production because of falling demand, and retail gas prices have been rising. On Tuesday, the average national retail price for a gallon of gasoline rose less than a penny to $1.92. That's 13.6 cents more per gallon than a month ago even though crude prices have fallen more than $6 per barrel in the same time.” How annoying. Crude prices drop by a lot but the price at the pump goes up. That’s manipulation. Since refiners have to keep making nice profits, they will not pass any savings along to consumers so (just like OPEC) they cut production in order to affect the supply side of the equation: LESS SUPPLY EQUALS HIGHER PRICE since the demand is still there, relatively unchanged. When they cut production, guess what happens: PEOPLE LOSE JOBS. Essentially, gasoline prices are maintained on the backs of people who need their jobs. There’s a morality lesson there somewhere if only I could find it. The U.S. government needs to buy as much oil as possible right now and put it in reserves. 27 million barrels is really not that much. In fact, compared to consumption, it’s nothing. It is time to NATIONALIZE the oil industry. We are almost there. PLEASE.