Posted by IndianaRed on May 12, 2011 at 05:27:54 from (75.46.71.227):
In Reply to: gas prices posted by ILLEFTY on May 10, 2011 at 13:10:18:
My question is this. In 2007-2008 when gas got so high, about $4/gal, oil was in the $140 area. Now we have the same retail price, about $4/gal, but oil is only at $100 or so per barrel. That's a big difference and I don't understand why no one is talking about that!
tlak and the like will say this is due to greedy oil companies, retailers, etc.. My answer to that would be that this industry is so highly regulated by the government that there isn't enough competition. It's too hard to start a new oil company with all that red tape.
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