Oil Jumps, Fuel Prices Reach Records on U.S. Refining Concern March 31 (Bloomberg) -- Crude oil rose, heading for its third-biggest quarterly gain this decade, and gasoline and heating oil futures reached records on concern that U.S. refineries can't make enough fuels from surging crude supplies. OPEC is pumping almost as much oil as it can, and the U.S. last week imported the most crude this year, sending inventories to their highest since July 2002. Maintenance at refineries is curbing U.S. gasoline output, with stockpiles falling for a fourth straight week in the week ended March 25 and demand set to peak for three months starting in late May. ``We know there's plenty of crude around, but there's just not enough refining capacity to process it,'' said Rob Laughlin, a broker at Man Financial in London. ``Prices of oil-derived products will remain strong.''
I love the notion of 'remain strong'. By this i am sure they mean affordable and accessible. NO?? They really mean so high and profitable that they are good investments?? This is the future. A few folks making ugly vile profits from energy sales that will become more and more expensive. Last week ExxonMobil reported fourth quarter profits of over $8 billion. The largest quarterly profit ever for any corporation. That is obscene. That much profit is emblematic of the whole problem. Make profit but don't invest in refining capacity here because the future of oil refining is in India and China and they have more reliable currencies and will be better more stable markets and well, fuck the US. So we as citizens help our corporations access every shred of our remaining economic and material resources and then we bend over and let them screw us by taking them all over seas. Meanwhile we will be left with an imposed fascist christian state further marginalizing the population between the might haves and the definitely will never haves.
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