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That's because there is plenty of oil,,,,, Always has been,,, Sh$t you can still get oil at $40 a barrel,,,, It is just bitter,,, not the sweet stuff that needs (key words) Less refining,,,
It all has to do with the refineries..... That's where the shortage is,,,, and it is always a reason for the oil companies to raise gas prices,,,,, So there is no incentive to build a new refinery when you can still meet demand and make more money doing it....
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