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Resource ID: #17764
Source:Wall Street Journal (New York)
The WSJ reports that "the movement to regulate gasoline more stringently, begun in the mid-1990s, is colliding head-on with a still-strong economy and the arrival of gas-guzzling vehicles that have pushed up demand faster than domestic refining capacity could match...The result: tight supply, not enough extra capacity and prices that the slightest worries can send soaring...Sport-utility vehicles, pickups and minivans make up 43% of the vehicles on the road today, up from 30% in 1990...The problem (of high gas prices) is most severe on the West Coast and in the third of the county where Environmental Protection Agency regulations require the sale of lower-emission gasoline." Additionally, many of the country's biggest oil companies have gotten out of the refining business.
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