Subject: Re: OXY
This is spot on. The world is awash in oil supply and the US is producing, I believe, more than any country ever has at any time. Regular Unleaded in my town is $2.69 a gallon.

I think the operative word is "world". The US, though large as both extractor and consumer of oil products, is still just one (large) cog in a gigantic machine. Other than local fuel taxes, I think it's fair to say most of the drivers of oil and pump prices in the US originate outside the US.

Jim