Reid questions timing of oil refinery maintenance

The average gallon of gasoline in the United States is now up to $3.07 -- a 20 cent increase in just the last two weeks.  Just last month, Exxon reported that profits were up 10% in the first quarter of 2007.

So what is going on?  Harry Reid has his own opinion:

"It's outrageous ...Isn't it interesting every year about this time,a refinery goes down for repairs," said Senate Democratic Leader HarryReid of Nevada.

Actually, it is quite puzzling.  Why would oil companies conduct refinery maintenance at this time of the year, just weeks before Memorial Day weekend, when millions of families across the country will take to the roads?

This kind of maintenance limits supply and helps drive up prices.  Could that be why the Bush Administration ordered oil companies last September, just two months before the election, to delay all refinery maintenance?  It really makes you think.

Comments

[granny]

Pardon me, I've just moved out here to the Pacific NW, and am I right in understanding: 9:30 a.m. Eastern is 6:30 a.m. Pacific?

I have to get up at 6:30 a.m. to watch that snivveling creep show???

Actually I'm scheduled to have a tooth pulled Thursday, and right now that's looking alot less painful than watching Gonzales.

Do a good job on the blog boys !

[George]

Any increase in oil prices should be welcome news. From a political point of view I dont see it any other way.

If people dont like, they can stop using gas so much.

[Demdude]

The refineries need to shut down to switch to summer blends. That is why it happens the same time every year.

Also, with the refineries running ar 90% capacity, any type of shutdown effects prices. That's the commodity market.

Now, saying that doesn't mean it can't be manipulated. But until the country wakes up and does something about their gas habit, you will get screwed over and over again.

[Chief Editor: Todd]

Granny, you just moved to the Pacific NW? Great. Hopefully all this rain isn't driving you insane. Actually, the last few days have been nice. Even though I am from Seattle, I still put the site on east coast time. So yeah, it is at 6:30 AM our time.

George, that's definitely a pragmatic way of looking at it.

[Eldon Hunt]

Its a conspiracy plain and simple , create a shortage and drive up prices.

If people dont like, they can stop using gas so much.

This mental midget should get out of the trenches , its this kind of moronic thinking that leads to this mess. If this idiot is in any way connected to management We have a job for him in the gulf of Mexico on a derrick and hopefully a hurricane will wipe him out while we pretend to go save him.