Big Oil's secret strategy to gush profits exposed!

Memos purportedly show refiners sought to limit ops to spike price of gasoline

WorldNetDaily is reporting...

A consumer group is publicizing a series of memos marked "highly confidential" alleging major oil companies – including Mobil, Chevron and Texaco – intentionally limited their refining capacity in order to raise gasoline prices and increase profits.

The Foundation for Taxpayer and Consumer Rights released three memos that purportedly demonstrate a nationwide effort by the American Petroleum Institute to encourage major refiners to close refineries in the 1990s.

"Large oil companies have for a decade artificially shorted the gasoline market to drive up prices," said Jamie Court, president of the FTCR, who successfully fought to keep Shell Oil from needlessly closing its Bakersfield, Calif., refinery this year. "Oil companies know they can make more money by making less gasoline. Katrina should be a wakeup call to America that the refiners profit widely when they keep the system running on empty."

What's the REAL reason why oil and gas prices are so high?