Put another way, we have a 100% supply at current prices... but produce more at lower prices and consumption would certainly increase. As it is now many people are rationing their fuel use because they can't afford more.
I have my own answers, of course, but he asked you.
Sure, if somebody has a process that produces at a dollar less a gallon he would clean up in the market. The problem is more distributed than that, though. If there are ten stages from oil well or other source to the gas pump nozzle there are ten people who need to get paid or insist on being paid.
I know what I am asking, and I’m asking everyone.
What is being done RIGHT NOW to enable dramatic increase in the manufacture of gasoline?
The supply of oil is restricted because the US has some of the largest oil reserves in the world with the most advanced technology to harvest it and congress won't allow it to happen.
On the refinery side, the only increases in supply have resulted by improved efficiency at existing refineries and by running refineries and 90%+ of capacity. Production facilities should never be run continuously over 80% of capacity.
No new refineries are being built because of environmental restrictions. The overhead cost is too high. Every attempt by congress to relieve the restricitons are at least make them more logical and doable has been blocked by the Democrats.
Gas prices are high becasue Democrats want them high!