RE: I dont understand gas prices?
Don't forget that gas pricing is based on refining capacity not raw crude volume, and there have been no new refineries built in 10 years, so the best way to keep prices high is to reduce capacity therfore increasing demand for less capacity, most of the gas we use is refined in Louisiana and Texas and is trucked to the rest of the Continent.
In Canada the Provincial government of Newfoundland is petitioning the federal government to allow the Provincial government of Newfoundland the right to cancel oil recource licences (drilling and pumping) if the oil company holding the licence does not exploit the reserve within 20 years. What this means is if the oil company has found oil and does not get it out of the ground in 20 years they lose their claim on the reserve.
This is happening all over the world, there are plenty of oil resources but in order to keep prices high they are not being exploited.
Most of the oil we use in north america comes from north america itself, not the middle east as some people believe.