Reply #22: It has nothing to do with the rig... [View All]

and everything to do with increasing demand due to warm weather, as always happens this time of year, and the growing economy, which will use more oil. Of course, both of these things cause financial speculators to cause prices to raise, not the oil companies themselves.

As an aside, oil companies make very little money or profit from gasoline sells at the pump. In fact, the stuff in the gas store is much more profitable than the gasoline. Almost all of the profit comes from upstream.

And as another aside, gasoline is among the cheapest commodities out there compared to other products. It has resisted inflationary forces much better than most anything else has. Which is good, in the sense that it is integral runs our economy. But it's also bad, in that it gives no real incentive for alternative sources of energy, which currently are much more expensive. Same with coal.