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MichiganVote

(21,086 posts) Mon Aug 27, 2012, 08:07 AM Aug 2012

Gas prices bound 2 go up.Funny how many hurricanes we had growing

up, that did not result in exorbitant prices

1 replies

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Gas prices bound 2 go up.Funny how many hurricanes we had growing (Original Post) MichiganVote Aug 2012 OP

That's because we had excess refinery capacity back in the day, MadHound Aug 2012 #1

MadHound

(34,179 posts)

1. That's because we had excess refinery capacity back in the day,

Reply to MichiganVote (Original post)

Mon Aug 27, 2012, 08:24 AM

Aug 2012

There hasn't been a new refinery built in the US since 1976. While the capacity of existing refineries has been expanded, there are still so few, and demand is so large, that any disruption causes price spikes across the board.

Of course the situation has been deliberately set up this way because hey, it provides greater profits for the oil industry.

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