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  • A Long-Term Bet Against Gasoline

    07/11/2013 11:00:39 AM PDT · by ckilmer · 74 replies
    fool.com ^ | July 11, 2013 | Wes Patoka
    Oil prices have been given a lot of scrutiny and consumers are not seeing relief at the pump. Nobody will argue that price fluctuations do not play games with consumers’ minds and wallets. Elon Musk, the CEO of Tesla Motors, has proposed that electric vehicles are a way to free ourselves from foreign sources of energy, and giant price fluctuations. To import, or export that is the question As supply increases, we should see gasoline prices come down, right? Wrong. We are seeing a huge supply glut of oil in the US, but refineries like Phillips 66 (NYSE: PSX) are...