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Six months ago in America unleaded gas 87 octane was cheaper than diesel, but that is not the case today.... diesel is around 10 cents cheaper today... As for Iraq, like I said above, we are not short of oil, there is plenty of oil to last decades....the problem is that we are running our refineries at capacity. The reason why there aren't any refineries under construction is the simple fact that we need several, not one.... West coast oil is thicker than Sweet Texas Intermediate, and Persian Gulf oil is even thinner....Different areas of the country consume different types, and need different settings for the refineries..... Not even Saudi Arabia wants to build another refinery, they are happy refining the oil they use. Its up to us to refine what we use, but not one company is interested in building any.....or expanding current refineries... The simple truth is the fact that we won't pump any more than what we are currently pumping worldwide, and demand has surpassed pumping and refinery capacities.... In other words, peak oil.... Ever since Jimmy Carter killed the oil depreciation allowance, that is when refineries stopped being built..... Refineries are not buildings, they are machines, and every other machine can be depreciated, but not in the oil business.....
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