The oil companies may be raising it a few cents, but that's not where the action is.
More Quotes from Severin Borenstein:
It could increase vastly, but it depends entirely on policy.Severin Borenstein
They are just the lucky beneficiaries of the tight world oil market.
Severin Borenstein
There seems to be no political traction for reducing demand. Consumers don't want to hear about making any changes from the plentiful gasoline of the 1990s. And unfortunately, short of colonizing the Middle East ... there isn't a way back to that.
Severin Borenstein
That's definitely bad news for the California gasoline market. We're going to have to wait and see how bad.
Severin Borenstein
They make oil and they own oil, and the price of oil has gone up. Every barrel of oil they make is worth more.
Severin Borenstein
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.
Severin Borenstein
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