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Oil refiners’ big profits help keep gasoline prices high - KansasCity.com (http://www.kansascity.com/2011/05/14/2875367/oil-refiners-big-profits-help.html - broken link)
The conventional wisdom has been that gasoline shot to about $4 a gallon because the price of oil soared.
But that ignores a key factor: Even though U.S. gasoline use is declining, refiners have kept U.S. stockpiles below average by curbing production and exporting more gasoline.
That has kept prices up — and doubled oil refinery profits. Refineries are on track to reap their best profits in years.
Perhaps the far left should allow new refineries to be built rather than blocking those permits. We haven't built a new oil refinery in the USA since the 1970's.
Perhaps the far left should allow new refineries to be built rather than blocking those permits. We haven't built a new oil refinery in the USA since the 1970's.
Why do you believe that it is lack of refineries that is the problem right now?
When gas hit $4 a gallon under GwB, oil prices were at $140+ per barrel. Today, we have $4/gallon gas but the price of oil is $95/barrel. I don't recall the taxes on gas going up significantly if at all so, to me, that means that someone is raking in a whole load of profit on the backs of American motorists.
When you consider that re3fineries were never really profitable from the 70 thru 2003 then it makes little sense. That is alos why you sqaw refineries bought and sold .During this time refineries were refit to allow them to operate more efficently. One here that employed 4000 in the 70's ;how employees about 2000. There are new projects being doen that will duble output while only increasing laboe numbers by 400. They alos have changed more to where its close to puting out what they take in faqster meaning they actually store less crude i tanks. That means they pay less taxes on what they have on hand because its less.They will not be building more refineries because of the time/expense and there not being a need in the future.Thsi will eman less imported finished prodcut in the future as we do now.There are alot of prodecuts besides fuel prodcued at during much of the time it has been the products that kept refineries going going that period.Basically we are not goig to see cheapo gas as crude usage is reallt gaining in the emerging markets and isn't goig to go down anytine soon.The days of cheap gas are over and extrqcting i future will only get more costly and then add transporting it.By the way the project I talked about uses new crude from sand tars pipeline in new lines from canada and the 280,000 barrels per day of high sulfur middle east oil requiring new offshore or on shore terminals to be built still.hat plus the new LNG unloading facilities shows where we are headed.These refineries need assured supplies ;not a supply that will take ten years to produce and transport to facilitiers. We don't even have a energy policy rememeber.There is no governamnt plan to assure energy in the future at all;only some hope for alterntive which wil take investments no one wants the risk on without mandates for usage which makes the alternatives more expensive.PS- without the recent profits you would not see these projects being built now ;we would be where we were just a few years ago wander and having congressional hearing on prodcutio not meeeting demand. You know the dog and pony shows congress puts on when they need to deflect balme for their policies.
I find it amazing that for yrs the right has been say "drill" and the left seems to want to block it at every corner...why???
I mean it truly makes no sense.
Yes yes yes there was a oil disaster in the gulf and????....I mean with the same logic no one should ever fly in a plane or drive a car, they have accidents and people die.
This comes down to the left has been so infiltrated by econ-nut jobs that they cant think logically.
More oil on the market and more refineriers to refine and prices will stay down..its economics but thats the problem.....the left doesn't understand economics.
They believe if you study it in college its the same as actually owning a business in th "real-world"....umm sorry its NOT!
Obama "NOW' says he will open up more drilling...MY AZZ he will!
This man is so full of sh*t its coming out of his ears.
You know when you sit down and think about our economic problems in this country it seems always to fall back on the lefts-wing morons heads...
What do I mean????
Really its true....Housing porblem caused by C.R.A.(comm. reinvest act) high oil prices (can't drill damn near anywhere) lack of oil refineriers ( left eco-nuts block almost every damn plan to build one) and the best of all.........Social programs and dist. of money from one person to another as they seem fit......like I said...It always fall on there heads and funny but there programs NEVER EVER WORK! Why?????
Goes back to what I said....THEY DON'T UNDERSTAND ECONOMICS!
Oil refiners’ big profits help keep gasoline prices high - KansasCity.com (http://www.kansascity.com/2011/05/14/2875367/oil-refiners-big-profits-help.html - broken link)
The conventional wisdom has been that gasoline shot to about $4 a gallon because the price of oil soared.
But that ignores a key factor: Even though U.S. gasoline use is declining, refiners have kept U.S. stockpiles below average by curbing production and exporting more gasoline.
That has kept prices up — and doubled oil refinery profits. Refineries are on track to reap their best profits in years.
Baloney. Refineries were operating at a LOSS in the past. They are now finally generating a profit and that is causing the price to remain high. We have trade agreements that REQUIRE the United States to export gasoline to Mexico. There is no conspiracy.
Perhaps the far left should allow new refineries to be built rather than blocking those permits. We haven't built a new oil refinery in the USA since the 1970's.
Why don't they simply start up the ones that are sitting idle?
I find it amazing that for yrs the right has been say "drill" and the left seems to want to block it at every corner...why???
I mean it truly makes no sense.
Yes yes yes there was a oil disaster in the gulf and????....I mean with the same logic no one should ever fly in a plane or drive a car, they have accidents and people die.
This comes down to the left has been so infiltrated by econ-nut jobs that they cant think logically.
More oil on the market and more refineriers to refine and prices will stay down..its economics but thats the problem.....the left doesn't understand economics.
They believe if you study it in college its the same as actually owning a business in th "real-world"....umm sorry its NOT!
Obama "NOW' says he will open up more drilling...MY AZZ he will!
This man is so full of sh*t its coming out of his ears.
You know when you sit down and think about our economic problems in this country it seems always to fall back on the lefts-wing morons heads...
What do I mean????
Really its true....Housing porblem caused by C.R.A.(comm. reinvest act) high oil prices (can't drill damn near anywhere) lack of oil refineriers ( left eco-nuts block almost every damn plan to build one) and the best of all.........Social programs and dist. of money from one person to another as they seem fit......like I said...It always fall on there heads and funny but there programs NEVER EVER WORK! Why?????
Goes back to what I said....THEY DON'T UNDERSTAND ECONOMICS!
You seem to be on top of things.
Maybe you can explain to us why the oil companies would want to drill and produce more oil so that they can sell it to you cheaper at the pump. Or do you maybe simply want the government to step in and take over production of petroleum products like PEMEX and have a state-run system?
You were trained to pay more for gas while W and Cheney were in office. Enjoy the fruits now that they are getting ripe.
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