Good article Dan
If (when) they build the Keystone Pipeline, almost all of the oil will be refined in Texas and shipped to Europe and China.
This will not reduce gasoline prices in U.S.
I think things are so complicated we can't know how supply/demand, speculation, regulations, or anything else effect gas prices.
It seems like they keep bumping up prices until we squeal, then back off a little for a while, then repeat infinitely.
Rather than the scamsters getting the excess profits, we should raise gasoline taxes, like they do in Europe. This would be fair, because it would go to paying for the externalities, like health effects of air pollution, military expenses,... We could offset it with reductions in income tax so it doesn't have an economic effect.
Like increase gas tax by $1 a gallon. If average person would then pay an extra $500 a year, then exempt the first $500 of income tax that people pay. Eventually having $4 a gallon might be good.