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Roy, thanks for the article. I find a couple of problems with the analysis. It doesn't matter what the supply is when only a few players control the flow. Drilling for more in a world sworn to reduce carbon emissions to continue to profit  this cartel controlled industry won't make the slightest bit of difference in what the price of  this commodity is. If we have historically high supplies why does that not have an effect on our current market? The oil companies refuse to invest in refinery improvements and expansion at that intersection of the the pipe because that would actually increase the supply in the marketplace. The idea that our government is taxing too much is simply incorrect. The actual taxes in California amount to 50 cents per gallon. This is both federal and state taxes combined. This translates to a little more than 13% tax on the product. That is chump change for the oil companies.  A lot of the oil business is remarkably similar to the food...
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