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| Subject: Then WHY ISN'T THE DEM CONGRESS DOING SOMETHING ABOUT IT???????? | |
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Author: Oropan |
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Date Posted: 05:54:20 05/18/07 Fri In reply to: Bev 's message, "Here is a article on why gas is so expensive" on 15:37:46 05/17/07 Thu >according to the oil industry . It makes little sense >they are talking about the cost of refineries etc when >they are doing everything possible to drill on the >coasts and that costs a bundle to bring on line also . >Please note there is nothing about change overs etc on >as to why the refineries are shut down . they have >come up with the same type lies before however >evidently the US average person has a short memory if >they cannot remember them using these excuses in the >past to goudge people at the pump. > > >href="http://www.usatoday.com/money/industries/energy/2 >007-05-15-gas-hearing-usat_N.htm">http://www.usatoday.c >om/money/industries/energy/2007-05-15-gas-hearing-usat_ >N.htm > > > >Experts say oil refineries stretched too thin > > >By Barbara Hagenbaugh, USA TODAY >WASHINGTON — Record gasoline prices have exposed the >shortcomings of the aging U.S. refining system, but >there are no quick fixes, a panel of energy experts >told lawmakers Tuesday. >That suggests gas prices will be vulnerable to >refinery outages through the summer. And one expert >said gas shortages are possible. > >"We may have an emergency this summer," Deutsche >Bank's lead oil analyst, Paul Sankey, said. > >Testifying on a day when the U.S. average gasoline >price broke a record, not adjusted for inflation, for >a third-consecutive day, experts from government and >private sectors said refineries are stretched thin, >helping to boost prices. There have been a number of >refinery shutdowns, both planned and unplanned, in >recent months. > >"The U.S. petroleum industry's infrastructure is >unable to cope with increasing demand," Guy Caruso, >administrator of the government Energy Information >Administration, told members of the Senate Energy and >Natural Resources Committee. "The only pressure-relief >valve is price." > >FIND MORE STORIES IN: Tuesday | AAA | Deutsche Bank | >Sen. Ron Wyden >The U.S. average price for a gallon of regular >gasoline was a record $3.087 Tuesday, more than 15 >cents higher than a year ago, according to motor club >AAA. > >Building refineries, factories that turn crude oil >into gasoline, takes years and costs billions of >dollars. Sankey noted oil companies were losing money >as recently as 2002, providing a disincentive for >investments. > >Plus, there's a shortage of energy workers, prices are >high for raw materials for building, such as steel, >and local opposition is often strong. The push for >alternative fuels, such as ethanol, is leading firms >to question whether gas demand will still be there by >the time they get a refinery up and running, Sankey >said. > >But Sen. Ron Wyden, D-Ore., said oil firms have not >invested because they know the less gas there is, the >higher prices will be. > >"The oil industry has short-changed investments in >refining capacity and they did it … when times were >lean and when they were flush," he said. > >There were 149 U.S. operating refineries 2006, down >from 216 in 1986. Companies have expanded existing >refineries in that time and have found ways to >increase the amount of gasoline they squeeze out of a >barrel of oil, according to the American Petroleum >Institute, the oil industry's trade group. > >But although gasoline production has risen, it is >still falling short of demand, according to the EIA. >The gap is filled by imports. > >"Americans should be able to expect that those who >refine oil into gasoline to do a better job of >anticipating demand growth, plan to meet that growth, >and then make the necessary investments … to provide >the fuel at a cost that has some semblance of >stability," Geoff Sundstrom of AAA said. > > >Posted 1d 18h ago E-mail | Save | Print | Reprints & >Permissions | >To report corrections and clarifications, contact >Reader Editor Brent Jones [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| Subject | Author | Date |
| The congress has to go thru committee meetings etc Which they are doing | BEv | 08:47:52 05/18/07 Fri |
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| IT TOOK 12 DARN LONG YEARS WITH CONGRESS IN CONTROL | BEV | 12:21:45 05/18/07 Fri |
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