US Net Exporter of Gasoline

FACTOID: During the Bush administration US oil production dropped from 5.8 million barrels per day to 5. During the Obama administration if has steadily and totally rebounded. Oil imports have dropped since 2007. There is a surplus of gasoline in America due to decreased demand and more efficient automobiles. Because of oversupply we are currently a net exporter of refined gasoline for the first time in American history. Why do prices continue to climb; speculation in the commodity market. (MSNBC’s Up With Chris Hayes, 2/26/12)