Auto buy back (March, companies, elect, government)
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hmmm Biden at times seems to be reliving the Obama administration, perhaps he will reacreate Obama's Cash for Clunkers program to get all those gas guzzlers off the road. Of course we see how well that worked long term. Once gas prices dropped back came all the Suv's and big trucks. People want what they want.
Horribly written paper, and misleading. Keystone XL would have doubled the capacity of the KEYSTONE system, not all of the pipeline capacity in the US.
hmmm Biden at times seems to be reliving the Obama administration, perhaps he will reacreate Obama's Cash for Clunkers program to get all those gas guzzlers off the road. Of course we see how well that worked long term. Once gas prices dropped back came all the Suv's and big trucks. People want what they want.
Cash for clunkers did remove a bunch of older cars with higher pollution output, so that's a plus.
Well Biden and the Dems made an enemy of Big Oil so why would they do anything to help him out?
Biden also made enemies of Saudi Arabia yet he is heading there to ask for their help. How do you think that is going to work out?
We need a business man in the WH. One that knows how to negotiate and cut deals where everyone is happy, where everyone wins... oh wait... we had that and the Dems destroyed him.
Would we really be surprised if Biden came out with some type of "Cash for Clunkers" program like Obama did in 2009? That one cost us $3 BILLION then which is a drop in the bucket these days. I'm sure Biden could do much better than that, spending more on a program that really didn't do too much to get the old smog polluting cars off the road.
The Keystone pipeline was for exporting Canadian crude. It would have done nothing to help the current situation, and in case would not have been completed yet.
The biggest current issue affecting gas prices is refinery capacity. Some refineries closed during Covid and did not reopen. Others are converting to biofuels, and a couple had major incidents(ie explosions) and were never reopened. There is very little any President can do to increase refinery capacity in the short term.
The Keystone pipeline was to bring 800k barrels of oil into the Gulf for refinement every day. We now of 800k less barrels of supply a day.
We should increase refinery space, however we are not capped out at refinery space at the moment.
The Keystone pipeline was to bring 800k barrels of oil into the Gulf for refinement every day. We now of 800k less barrels of supply a day.
We should increase refinery space, however we are not capped out at refinery space at the moment.
No we are not 800k barrels per day short. Keystone XL would not have been completed for another couple of years.
Increasing refinery capacity takes years, and in some cases, billions of dollars.
Refineries are running between 93% and 96% of capacity right now. That's not sustainable, and some of the refineries are going to have to shut down for maintenance soon, or we will have more incidents, ie explosions and fires. Refining oil involves high temperatures, up to 3,000 degrees, and high pressures. That means maintenance has to be done.
No we are not 800k barrels per day short. Keystone XL would not have been completed for another couple of years.
Increasing refinery capacity takes years, and in some cases, billions of dollars.
Refineries are running between 93% and 96% of capacity right now. That's not sustainable, and some of the refineries are going to have to shut down for maintenance soon, or we will have more incidents, ie explosions and fires. Refining oil involves high temperatures, up to 3,000 degrees, and high pressures. That means maintenance has to be done.
Keystone is just a symbol that epitomizes the Biden admin's war on energy. It's all the rules and regulations and policies and decisions as a whole that have created a climate in which the oil industry players are not about to do him any favors. What refiner is going to invest billions to add refining capacity when the government has openly declared that they are going to shut down fossil fuels?
This chart shows utilization rate between 86% and 91%. And it certainly is sustainable. You can go back historically and see capacity has been running over 90% since 1992.
How much domestic gasoline would KeystoneXL represent? Tar sands isn't a wonderful crude to refine gasoline from, based on what I've read. Plus most of the product refined from that oil has been exported, historically.
A maximum of 5% of usage on best cycles, Canada permitting, from my understanding. And not until years from now even if construction has never been halted.
Keystone is just a symbol that epitomizes the Biden admin's war on energy. It's all the rules and regulations and policies and decisions as a whole that have created a climate in which the oil industry players are not about to do him any favors. What refiner is going to invest billions to add refining capacity when the government has openly declared that they are going to shut down fossil fuels?
This chart shows utilization rate between 86% and 91%. And it certainly is sustainable. You can go back historically and see capacity has been running over 90% since 1992.
So IOW, it isn't reality, it is just an easy talk point to keep conservatives angry so they can feel vindicated.
We already knew that.
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