The United States has not built a new Oil Refinery since 1979.
What good is a glut of crude oil if you don’t have a refinery that can turn it in to useful products like gasoline?
The price of gasoline is governed as much by the refiners as it is by the spot price of crude oil.
We need a congress and president that will reign in the out of control EPA.
But that is unlikely to happen.
The US has more refinery capacity than we use ourselves.
We haven’t built a new refinery, but we spent the last couple decades or so expanding and upgrading the ones we have.
There is currently 17.4 million barrels a day refining capacity in the US.
Refinery Utilization and Capacity
http://www.eia.gov/dnav/pet/pet_pnp_unc_dcu_nus_m.htm
Our current refined product usage is between 16~17 million barrels a day, trending lower lately.
U.S. Product Supplied of Finished Petroleum Products
http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MTPUPUS2&f=M
You may often here reports of a higher number for US consumption, 18~19 for petroleum products, but that number includes natural gas liquids, biodiesel, ethanol, etc.
See breakdown at:
Petroleum Product Supplied
http://www.eia.gov/dnav/pet/pet_cons_psup_dc_nus_mbblpd_m.htm
But that is unlikely to happen.
A very common sense approach for the GOP to take with the so-called 'fiscal cliff' negotiations would be to tie regulatory reform in with *any* discussion of tax increases. It should be: 'Tax the so-called rich? Fine. Give us Keystone pipeline, ANWR, outer continental shelf, and cancel plans to lock up millions of acres on BLM land from oil and gas exploration. Then maybe we'll talk.'
But as we all know, the geldings in the GOP House leadership are too chickens**t to go there.
Lots more smaller regional refineries would put gas prices back where they belong, well under $2.00/gallon. Ain't gonna happen. Your President and the people who like him don't think you should be (a) driving, and (b) if you're driving, it should be a $40,000 Prius or Volt.
BTW, if you work in the private sector, you can't afford to drive and eat. Pick one. Welcome to the new East Germany.
Lots more smaller regional refineries would put gas prices back where they belong, well under $2.00/gallon. Ain't gonna happen. Your President and the people who like him don't think you should be (a) driving, and (b) if you're driving, it should be a $40,000 Prius or Volt.
BTW, if you work in the private sector, you can't afford to drive and eat. Pick one. Welcome to the new East Germany.
Lots more smaller regional refineries would put gas prices back where they belong, well under $2.00/gallon. Ain't gonna happen. Your President and the people who like him don't think you should be (a) driving, and (b) if you're driving, it should be a $40,000 Prius or Volt.
BTW, if you work in the private sector, you can't afford to drive and eat. Pick one. Welcome to the new East Germany.