Reply #12

And I agree that the government is causing the price to rise. Here is another item that will go into effect in July & cause prices to rise even further.

In mid November 2011 Canada's Enbridge Inc announced it's plans to buy the Seaway Crude Pipeline System & reverse the flow of the pipline to move crude from the Midwest to the coast. On that date the announcement sent U.S. crude prices soaring on expectations that the Midwest glut of oil could soon be released and fetch prices closer to more expensive, international benchmarks.

Currently Brent & other international benchmark crude oil prices are $122. WTI is about $105.