The oil companies may be raising it a few cents, but that's not where the action is.
It could increase vastly, but it depends entirely on policy.
I think that's a big issue that a bankruptcy court is going to have to confront. What's the ongoing responsibility of the company and what's the legal liability in the contracts.
There has to be a recognition (that) we need to address this even if it requires sacrifices by individuals on a daily basis.
They are just the lucky beneficiaries of the tight world oil market.
Most of this is the world oil market, and the world oil market is telling us the prices are very high because there is a real shortage.
It's not like this is a gigantic change in the cost per mile of driving your car. That's why you won't see many people get rid of their cars or suddenly decide they can't drive to work anymore or will take the subway or whatever.
They continued to build and complete plants after it was clear the market was down.
The world oil price has risen rapidly and is very high today compared to the recent past, primarily because demand growth has been very rapid, and crude oil production capacity is constrained in the short run.
That's definitely bad news for the California gasoline market. We're going to have to wait and see how bad.
