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California gasoline prices soar amid refinery and pipeline shutdowns

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  • The entire US refining industry is fixed. They very carefully coordinate with each other so there is always a 'justifiable' bottleneck to make sure the supply is just barely enough to meet demand. The price history is a buttress thread profile: slow to come down (45); quick to shoot up (7) at the weakest tissue of conjecture.

    This is what is so irritating about the Keystone XL pipeline. The real reason Big Oil wants to import corrosive, abrasive near-tar across the entirety of the US? So they can quickl

Things are not as simple as they seems at first. - Edward Thorp