Somebody finally noticed?

People have known about that about internal oil industry memoranda about strategically restricting refining capacity for years...it appears that someone in the media finally noticed:

A Chevron memo is raising suspicion that oil executives intentionally reduced refining capacity in an effort to boost profits. The 1995 memo, obtained by Consumers Union, reads:

"If the U.S. petroleum industry doesn't reduce it's refining capacity, it will never see any substantial increase in refinery profits."

In the last 20 years, 18 of California's 32 refineries have shut down. The industry is now seeing record prices and profits at the pump.

Our "Selected Oil Executives" Bush & Cheney constantly talk about environmental regulations restricting refining capaity and how "new" refineries should be encouraged along with exploration tax breaks. Condi Rice was a member of the Chevron Board of Directors during this time.

Senator Ron Wyden has also known about this created problem in the industry for some time -- but he NEVER gets booked on the Sunday talk shows does he?

The fact is reducing refining capacity is good for the oil industries bottom-line, and this document shows it. Much of what has occurred now is because of their determination ten years ago to create a false crisis.