I have a neighbor who works for Chevron as a contractor. He said 3 years ago, the cost to get a barrel of oil out of the ground, was $8.75. Today, he said the cost is probably the same. Even if it's doubled, that's only $17.50. He said the current price of $120/barrel is ridiculous.

He also said they're finding oil everywhere they drill, and they're not even into high waters yet. I said maybe the refineries are the hold up, but he said their storage tanks are full the brim. He said we have to wait for the price to come down, or for people to use it, so we can make more gasoline. We can't even make any more, we have so much on hand.

He thinks the disparity in reality to sanity, are the stock traders in NY driving the price up, political stuff, and taxes.

jeff