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forum; Sham Oil Shortage; While oil companies blame environmentalists, they dump product to boost prices.
- Article from:
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Monterey County Weekly
- Article date:
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October 13, 2005
- Author:
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Copyright informationCopyright Monterey County Coast Weekly Oct 13-Oct 19, 2005. Provided by ProQuest LLC. (Hide copyright information)
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Refineries make the residential heating oil that warms most of America's homes. Part of the reason home heating prices are skyrocketing is there are barely enough refineries to meet demand. Oil companies like it that way. A scarce commodity keeps their prices and profits high.
So the push is on in Washington to increase American refinery capacity. There's one catch though. If we want to see prices fall, then oil companies have to sell their heating oil and petroleum products here in America, not in Singapore or Chile.
You see, right now, in a period of peak demand and limited supply, oil companies are exporting our heating oil all across the globe. That's creating a shortage right here at ...