huge oil field discovered in TX but refineries closing so gas prices will jump

[engineer777]

toronta???toronto maybe

[ilikepants711]

@engineer777 turned it off after i head "toronta"

[msjayhawk]

This is not in TX. This is in the Gulf of Mexico. Misleading Title!

[stybarrow]

folks, the USA is losing its last heavy industry - petroleum refining. in the future, Americans will run more and more imported fuels (gasoline, diesel, jet) in their engines. and the jobs / salaries / taxes . . . . ?

[swami24u]

it's all bullshit ! just rich people making money! anyway they can. by fucking you at the gas pump

[mayartay]

Where's "Taranta"? (00:10) :P

[toshibavoodoo]

Peter Schiff 2010!!!

[johnTconover]

1- The oil field in question is Tiber and best estimates are that it contains 4 to 6 billion barrels. In other words this find is a baby. Of that only 450 million barrels are recoverable. To put it in perspective the US consumes 20 mbpd (So enough for 22.5 days supply). 2-they had to drill the exploration well to over 10.5 KILOMETERS DEEP to reach it. 3- to say that oil demand decline will precede oil production decline is insanity. 4-BP could never make profit from tiber. NEVER!!!

[odin422]

BP is pure scum

[mrgoodvibrations]

Big Oil know low refinery capacity means lower supplies of refined gasoline=high prices, larger profits......The refinerys burndown and are not replaced.

[general010]

Great Vids!