so tortilla chips will be high along side the oil we get from our friends overseas
yay good times
More Bush legacy.
Well, it might be wrong, too.
“Valero Energy Corp. is taking another step toward expanding its Norco refinery by seeking approval of $1 billion in Gulf Opportunity Zone bonds from the St. Charles Parish Council.
Company officials stressed that they have not committed to the project to expand the refinery’s capacity from 220,000 barrels of crude per day to 380,000 barrels, but the company is lining up permits and financing before making the decision.
“The permitting process is kind of lengthy, so it’s best to get the permits in place before taking it to the board for approval,” Valero spokesman Bill Day said Friday.”
http://www.nola.com/news/t-p/frontpage/index.ssf?/base/news-8/118197314065850.xml&coll=1
“A secretive project dubbed “The Gorilla” by inhabitants of Elk Point, S.D., turns out to be a planned 400,000 barrel-a-day oil refinery. That’s right. Do not adjust your computer monitor. A refinery. If actually built, it would be the first new one in this country since Marathon Oil (NYSE: MRO) opened its Garyville, La., plant in 1976.”
http://www.msnbc.msn.com/id/19246620/
Not just ethanol. The Diesels are coming! The Diesels are coming!
And it’s not just the diesels. An industry insider told me that Toyota is aiming to have hybrids comprise 40% + of their sales by 2010.
Interesting that Hyperion Oil is looking at a site in South Dakota, the heart of corn ethanol country, to build a new refinery.
Once again, the govt gets involved in the market place and SCREWS it up!
Murphy Oil has plans for a $billion expansion in Superior Ws. But the idiot governor wants to slap them with a refinery tax (it’s the only refinery in the state) that would make it criminal to pass the tax on to consumers. Needless to say, the plans are on hold.
The US is already importing not only oil but refined gasoline itself. One reason prices are high. No matter how much is invested in ethanol it has the hallmarks of a 1970's-ish temporary measure. There is something Carteresque about it. There will always be a need for domestic refinery capacity to increase. I tend to be skeptical of the proposition that ethanol "competition" would lead big refiners to scale back plans by itself.
So with farmers making a mint from the Ethanol debacle, can we now cancel the payments from the last “Farm Bill” welfare boondoggle?
“so tortilla chips will be high along side the oil we get from our friends overseas”
It’s not just tortillas, bud.
Beef, dairy, chicken, any corn-based feed stock is experiencing price hikes due to the morons who grow food for cars instead of for people and livestock.
Since so many people are now growing corn, expect other agricultural commodities like cotton, soybeans and such to be more expensive as fewer farmers are growing them.
Thanks to this ethanol nonsense, not only will fuel still be highly priced, so will almost everything else. What a boondoggle.
Since gasoline imports are up, I assume the rest of the information in the article is probably wrong as well.
U.S. Weekly Total Gasoline Imports
http://tonto.eia.doe.gov/dnav/pet/hist/wgtimus24.htm
“President Bush has called for a 20 percent decline in gasoline use by 2017”
No problem. With all the increased spending under Clinton/Bush the economy and dollar will collapse and people won’t have the money for gas. A 50 percent decline in gas usage is more like it.
Maybe this article was, but the issue was all over the MSM a week ago.
Ethanol alone cannot do the job. This is counter to what we really need. WE need to be producing more of our own oil and refining it into gasoline.