Why gas costs so much

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By Tim Redmond

Just in case anyone out there is still wondering about the basic economics of the oil industry: When you raise the price of gas, the oil companies make more money. This has been true forever, and it's true today.

Gee, why would all these refineries be off line at the same time? Why would supplies be so tight? Is it because of those rotten environmentalists -- or do high gas prices and limited supplies actually make good business sense for Chevron?