STORM WARNING/We have not built a single new gasoline refinery since 1976, mainly because of

ncpa.org ^ | Thursday, September 08, 2005

[InvisibleChurch]

STORM WARNING

Daily Policy Digest

ENERGY ISSUES

Thursday, September 08, 2005

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The damage Hurricane Katrina has done to our energy infrastructure is nothing compared to what Congress and Democrats have done and failed to do, says Investor's Business Daily (IBD).

In the wake of the hurricane's damage to offshore drilling rigs and refinery operations, crude oil prices were briefly driven above $70 a barrel. Suddenly, says IBD, the oil locked up in the Arctic National Wildlife Refuge (ANWR) looks even more appealing. If ANWR had been approved in 1995, when President Clinton nixed it, we would be producing another million barrels a day -- 5 percent of our total consumption -- reducing gas prices, oil imports and our vulnerability to emergencies like Katrina.

But it's not just ANWR. Consider:

In July 1998, Clinton extended a moratorium on most offshore drilling for 10 years and banned drilling in national marine sanctuaries; the Energy Information Agency estimates these restricted areas contain 75 billion barrels of recoverable crude and 262 trillion cubic feet of natural gas. According to a report by the Industrial Energy Consumers of America, this policy has increased the price of environmentally friendly natural gas by 83 percent in the last 41 months at a cost to consumers of more than $111 billion. We have not built a single new gasoline refinery since 1976, mainly because of environmental regulations and resultant costs, but we do have 13 special, congressionally mandated "boutique blends" of gasoline that add 4 to 8 cents a gallon to the price of gas. IBD says Congress should remove obstacles to domestic production and the environmental albatross it has placed around the necks of energy producers.

Source: Editorial, "Storm Warning," Investor's Business Daily, September 1, 2005.

For text:

http://www.investors.com/editorial/IBDArticles.asp?artsec=20&issue=20050831

For more on National Energy Policy:

http://eteam.ncpa.org/issues/?c=national-energy-policy

[cynicom]

I recall pubs whining during the Clinton years that if only they had the presidency and congress they would do wonders.

Well they have it and we are left to wonder what they are doing.

[Blood of Tyrants]

Clinton extended the moratorium on offshore drilly by EO yet Bush hasn't repealed it by EO. We have also had a GOP controlled Huse, Senate, and WH that have done precious little to allieviate our dependency on foreign oil.

BTW, 5% of our total daily consumption is 10% of our imported oil.

[ANGGAPO]

You have to remember that congress has to approve things such as that. Count the dumbacrats that object to doing what you suggest.

[oust the louse]

Baynative,great tagline.

It is unfortunately not a privelage and honor anymore for politicians (D or R) to serve us as constituents it seems. I guess they look out for #1. Not too many strong solid personalities out there. It bothers me for my kids futures.

[Nov3]

We have not built a single new gasoline refinery since 1976, mainly because of

the supreme court and Dick Nixon's EPA?

[Extremely Extreme Extremist]

Face it, this country is screwed when it comes to energy. I guess people will wake up when they're freezing in below-zero temperatures and they don't have any heat. (Actually, they'll still blame the evil Republicans).

[E. Pluribus Unum]

• Katrina Reveals Gas Price Folly

• "In 1990, there were essentially six different types of gasoline being sold nationwide. Now, there are over 25 different gasoline formulations, all being transported and distributed through the nation's motor fuel infrastructure. The pressure of overlapping federal, state and local regulations has crippled what was previously one of the most efficient commodity distribution systems in the world -- the United States' fungible grade motor fuels distribution system."

[Cyclone59]

You have hit it so squarely on the head that you have counter-sunk the nail into the beam in regard to the politics.

We have not built a refinery since 1976 for a couple of reasons:

1 the wacko environmentalists won't let anyone
2 the ROI has too long of a wait
3 energy bills keep money going to oil companies who DON'T want to find an alternative.
4 the wacko environmentalists won't let anyone
5 did I mention, the wacko environmentalists won't let anyone