Oil and Gas Today with Chris Faulkner – Podcast #460

Once again, California motorists are forking over $4 a gallon for gas and they may have to dig for 10 to 15 cents more as prices continue to rise through the rest of the spring and into summer.

The state hit an average of $4 per gallon this week due to increased driving as winter recedes, higher crude prices, conversion to the more expensive summer fuel blend and refineries reducing output for maintenance.   Also the price of ethanol, which makes up about 10 percent of the content of gasoline nationwide has risen past the price of conventional gas for the first time in two years as rail networks across the country slowed shipments due to crude moving more on rail.   Would those tracks be as congested if we had the Keystone? Absolutely not.  Its time to approve the Keystone XL pipeline or keep paying $4 for gas, your choice.

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