Posted on 05/25/2007 3:42:06 AM PDT by Flavius
Congress thinks we aren't paying enough for gasoline.
That's the only conclusion to draw from a bill, approved by the House on Tuesday, that would allow our government to sue OPEC members.
The bill, which also has strong support in the Senate, would amend antitrust laws to make it illegal for foreign governments to curb oil and natural gas production or control energy prices.
(Excerpt) Read more at chron.com ...
I wonder if they will have statements under oath this time?
-bflr-
What Bull. The congress has created the gas problem just as they caused the Immigration problem. Bad war intelligence was the fault of congress. Social Security?
What we have is a failure of government. The cause? Congress as well as the media thinks the average american is too stupid to understand, so they do what they want.
Our failed schools? Congress again.
Maybe they are not as stupid as I thought. They want gas prices higher. After they pass counter productive populist measures to soothe the masses, the ever increasing gas prices get blamed on Bush and the war.
The must create the impression that the economy sucks, so they can ride in and save the day. This legislation will have one effect, further destabilization of the markets.
Sounds good the lawyers. (<-—reason)
Talk about feel good! How in the world does the U.S. Congress think they can drag a sovereign foreign government into a U.S. court for something that would be perfectly legal in their own country?
We're represented by fools. Or rather we aren't represented at all.
The majority American voters are gettin what they deserve for voting for the party that wanted a 3.00/gal floor in 2004.
Think of it as carbon ofsets to maintain your obscene life style.
barbra ann
For one thing, if states would lower the huge tax they put on gas, gas would not be so expensive.
In general, Loren Steffy speaks babylonion.
In the meantime, I appear to be writing in babylonian.
babylonion = babylonian
Because Congress already believes it can make American law apply overseas. If it believes that it has the right to shut down online gambling sites that do not operate in this country, it will believe anything.
Energy independence is the only way we can free ourselves from the economic yoke we are being held to by OPEC.
Recent reports that we are even buying a large percentage of our refined gasoline from foreign sources have shocked many Americans. The fact that we have not built any oil refineries in the last 30 years has caught up with us.
There is a reason why oil exploration and refining development is on hold. It is because foreign oil money finds its way into the pockets of our lawmakers who consistently vote against energy independence for America.
Who are they? See who votes against oil exploration and you will have the names.
How about a law that would make it illegal for domestic governments to curb oil and gas production or control energy prices?
I don't know which is worse: Congress thinking it can apply US laws to other countries, or the Supreme Court thinking that foreign laws should be used against us.
Only right now when we are trying to build our stocks back up. Our yearly average is normally less than 6%.
............. / 2004 / 2005 / 2006
Demand / 9.099 / 9.159 / 9.219 MMBPD
Imports / 483 / 584 / 512 MMBBPD
% of total / 5.3% / 6.4% / 5.6%
2005 was higher because of the refinery outages after Katrina.
U.S. Finished Motor Gasoline Product Supplied
http://tonto.eia.doe.gov/dnav/pet/hist/mgfupus2m.htm
U.S. Finished Motor Gasoline Imports from All Countries
http://tonto.eia.doe.gov/dnav/pet/hist/mgfimus2m.htm
-—The fact that we have not built any oil refineries in the last 30 years has caught up with us.-—
But we have been expanding and upgrading the existing ones. The percentage of petroleum product we consume versus what we refine is little changed in the last 2 decades.
In 1985 the US consumed 14.207 MMBPD Finished Petroleum Products
In 2005 the US consumed 18.650 MMBPD Finished Petroleum Products
1985 - 223 refineries averaged 12,165,000 barrels per day
2005 - 148 refineries averaged 15,578,000 barrels per day
They closed smaller, less efficient refineries while expanding and upgrading many of the other.
U.S. Finished Petroleum Products Product Supplied
http://tonto.eia.doe.gov/dnav/pet/hist/mtpupus2a.htm
In 1985 we refined 86% of the finished product we used.
In 2005 we refined 84% of the finished product we used.
U. S. Operable Crude Oil Distillation Capacity
http://tonto.eia.doe.gov/dnav/pet/hist/mocleus2a.htm
U.S. Gross Inputs to Refineries
http://tonto.eia.doe.gov/dnav/pet/hist/mgirius2a.htm
We do need to ease up on the restrictions. It took Arizona Clean Fuels 7 years to get their permit to build a new refinery, before construction really got started, they are back in court being held up again. We do let the environmentalists and NIMBYs make life hard (and expensive) for us. The oil companies have done a lot to keep the average throughput up, but they are running the ragged edge of capacity and when upsets happen like this spring, we all get to pay the price for not having more reserve.
Messed up on the units, should have been
Demand / 9.099 / 9.159 / 9.219 MMBPD
Imports / 0.483 / 0.584 / 0.512 MMBBPD
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