Skyrocketing Oil Prices Stump Experts

Confused about oil prices? So are the experts.

“People don’t get it,” said Sen. Herb Kohl (D-Wis.) at a Judiciary Committee hearing yesterday at which senior oil company executives were grilled about prices. Kohl said: “Demand is not crazy. Why are prices going crazy?”

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Gas Rises While Oil Declines

So, like most Americans, I’ve been grumping about gasoline prices for quite a while now. I’ve watched the price of gas spiral upward, and the resulting inflation throughout the economy due to the increased costs of distribution and travel. I had to buy gasoline today, and I while I was at the pump, I began to get angry. Not just frustrated, but genuinely angry, and I decided to do a little digging into what the cost of refining, distribution, and marketing gasoline is.

Let’s go on a little journey, shall we?

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