Oil and Gas

Just an interesting bit of news I received from a friend who works in the industry.

We have an oil glut, there is no reason for $100 oil, but politics and wall street traders! Build more refineries!! There has not been a new one built in 35+- years, the few that we have are at limited capacity right now and go into partial shutdown for the “Governments mandated Summer Blends”!! Cushing, Oklahoma is the oil storage facility for most of all of the Country and is FULL. Our oil pipelins are FULL. We have tankers anchored at ports, FULL of oil with no place to go!. The only demand is in refining. We don’t need imports either! Tell your environmentalist friends and local Senators to let the refineries build more refineries!. That will solve your problem at the pump!!

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