[sunnyatlast]

Originally Posted by Chi-Town;956***

Went past the Shell on 466 a couple of days ago and regular gas was $2.99 a gallon. I remember Newt Gingrich promising $2.50 a gallon if he were elected, but I never thought we'd get below $3.00. There was so much blame for high prices that there should be some credit due for the lower.

How can Americans enjoy the damage the foreign oil producers' over-supply and cut-throat pricing is doing to our domestic producers trying to gain our energy independence?!?!?

"“A refiner on the East Coast isn’t going to buy a barrel of domestic crude oil if, [when] delivered to his refinery, it’s $10 more expensive than a barrel of international crude oil,” Fallon explained.“Domestic producers know prices could fall by another $8-$10 bucks and that’s the concern.”

Fallon also warned that “at $75 selling price, some of these tight oil formations aren’t very competitive. That’s barely enough to cover the break even cost of drilling.”

http://thehill.com/policy/energy-env...questions-rise