Skip to comments.
Cap-And-Trade Is Refinery Killer
IBD Editorials ^
| August 25, 2009
| INVESTORS BSINESS DAILY Staff
Posted on 08/25/2009 5:59:14 PM PDT by Kaslin
Energy Policy: A new study shows that Waxman-Markey will increase prices at the pump, deepen our dependence on foreign oil and shred our ability to turn crude into gasoline. Even fuel-efficient cars will still need fuel.
Oil may bubble up out of the ground, but gasoline does not. It's made in those ugly little NIMBY places called refineries we are loath to build anymore because we're too busy trying to save the Earth rather than our economy and American jobs. When Hurricane Katrina shut down 20% of our refining capacity in a single day and raised gas prices in a single week by 45 cents a gallon, it showed how stretched to capacity our refineries were and are. Throw in the requirement for boutique fuels that vary by season and location, and our vulnerability to disruption is immense.
The number of refineries and total capacity to produce gasoline in the U.S. peaked in 1981, with 324 refineries able to process 18.6 million barrels of crude oil a day. Today, with U.S. demand for oil more than 20% higher, refinery capacity is roughly 17% lower.
Refineries operate near full capacity in the summer, leaving the nation's fuel supply chain vulnerable to disruption. That was the case a year ago, when Hurricanes Gustav and Ike shut down most Gulf Coast refineries, and gas stations throughout the Southeast ran out of fuel.
(Excerpt) Read more at ibdeditorials.com ...
TOPICS: Business/Economy; Culture/Society; Editorial; Front Page News; Government; US: Louisiana; US: Texas
KEYWORDS: 111th; bhoeconomy; bhoenergy; bhoenvironment; capandtax; capandtrade; carbontax; climatechange; crude; crudeoil; drillbabydrill; drillbarrydrill; drillheredrillnow; economy; edmarkey; emissions; energy; energycosts; energyprices; environuts; fuel; gas; gasoline; gasprices; globalwarming; goreholes; henrywaxman; hr2454; hurricanekatrina; hurricanekatrinag; ibd; joblosses; jobs; katria; katrina; markey; nimby; nostrildamus; oil; petroleum; refineries; refinery; waxman; waxmanmarkey
1
posted on
08/25/2009 5:59:14 PM PDT
by
Kaslin
To: bareford101; BerniesFriend; blaveda; Bookwoman; Celeste732; dsc; FrdmLvr; FreedomPoster; ...
2
posted on
08/25/2009 6:00:41 PM PDT
by
Kaslin
(Acronym for 0bama: One Big Ass Mistake America)
To: Kaslin
Energy Policy: A new study shows that Waxman-Markey will increase prices at the pump, deepen our dependence on foreign oil and shred our ability to turn crude into gasoline
And what is the Obama Admin. response.....lend Brazil $2 billion to drill for oil in the Atlantic and the Gulf.
3
posted on
08/25/2009 6:14:41 PM PDT
by
Recon Dad
( MARSOC DAD)
To: Kaslin; TenthAmendmentChampion; Horusra; Delacon; Entrepreneur; Defendingliberty; WL-law; ...
4
posted on
08/25/2009 6:25:18 PM PDT
by
steelyourfaith
("Power is not alluring to pure minds." - Thomas Jefferson)
To: Kaslin
Same old Leftist attempt to cripple strategic US energy independence
To: Recon Dad
And when questioned about energy policy, Nancy Pelosi doesn’t address the real issues. Nancy said she has a planet to save. So, in their minds, higher gas prices or fuel shortages are okay, because we have to save the planet. In their minds, “saving” a planet trumps every other consideration.
And I wonder if they are right about saving a planet. Earth has been here for 4 billion plus years. I have a feeling that earth will still be here, even if we fail to pass a cap and tax bill.
To: Kaslin
7
posted on
08/25/2009 6:40:34 PM PDT
by
CPT Clay
(Pick up your weapon and follow me.)
To: Dilbert San Diego
They want scarcity to control.
8
posted on
08/25/2009 6:42:01 PM PDT
by
CPT Clay
(Pick up your weapon and follow me.)
To: Kaslin
To: Kaslin
LOL! WHERE ARE OUR NEW REFINERIES AND OFF SHORE DRILLING????
10
posted on
08/25/2009 6:59:52 PM PDT
by
dalebert
To: Kaslin
This will do nothing but force the energy business out of the country. We’ll be dependant on importing more and more refined products like gasoline to take our place in the same league as third world countries like Iran, etc.
Complete madness.
11
posted on
08/25/2009 7:04:32 PM PDT
by
headstamp 2
(Question Marxist Authority)
To: Dilbert San Diego
Do these politicians actually pay for their gas out of their pockets like the common joe and jill do? Or are we the public paying for all their needs.
12
posted on
08/25/2009 7:08:48 PM PDT
by
guitarplayer1953
(Warning: Some words may be misspelled/ You will get over it / Klingon is my 1st language)
To: Kaslin
I don’t think the Senate is going to pass this. I hope we hear more opposition from the people on it.
13
posted on
08/25/2009 8:39:18 PM PDT
by
Salvation
(With God all things are possible.)
To: Kaslin
Drill here, drill now! Build pipelines and refineries. Put Americans back to work and achieve energy independence.
14
posted on
08/25/2009 10:47:08 PM PDT
by
NaughtiusMaximus
(Hey, Mr. Obama, please don't kill my gramma! NO on socialist healthcare!)
To: Kaslin
15
posted on
08/26/2009 5:05:55 AM PDT
by
thackney
(life is fragile, handle with prayer)
To: Kaslin
Supposedly this has been shot down.
Section 722(b)(2)
"as well as importers of such fuel refined abroad"
Disclaimer:
Opinions posted on Free Republic are those of the individual
posters and do not necessarily represent the opinion of Free Republic or its
management. All materials posted herein are protected by copyright law and the
exemption for fair use of copyrighted works.
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson