[Dark_5.0]

Price gouging would be much worse than what your seeing now.

It takes alot to produce a gallon of gas in the US vs. middle east etc... In the middle east oil flows freely from the ground so there is little overhead, they still profit at $8.50 per barrel. In the US oil does not flow freely oil is harvested through the use of rod pumping wells, Progresive cavity pump wells, plunger lift wells etc...On the perimeter of these wells they have water injection wells wich is known as a water flood or CO2 injection wells wich is known as a CO2 flood. Either CO2 or water is injected into the ground to squeeze the oil into a concentrated spot so it can be pumped out of the ground. On top of that the maintenance of these wells is outrageiously expensive if you have a 10,000ft well you have to have 10,000ft of rods to hook to your pump, and when the well has a mechanical failure wich is usually once a year there goes 30 - 50,000 to get the well going again. Imagine all of that overhead, US companies dont see a profit till about $15.00 a barrel unless your in California then its even worse than that.

If oil companies were able to price gouge at will they would turn a profit every year so explain to me why from 97-00 most didnt turn a profit at all.

The stock market has alot to do with the oil price as well its not as simple as supply and demand.

Later,