The People to Thank for High Gas Prices

For my American ( and Canadian friends who are equally affected) here is why gas prices are so high and getting higher. Once again the oil industry has been forbidden from drilling on the continental shelf while Cubans, Mexicans and even the Chinese ( the latter have a drill running 50 miles from Key West) are exploring there. And you can forget drilling in the Arctic. It’s going to kill all the Polar Bears you know.

From the Glenn Beck news letter today;

So why IS gas so darn expensive? There are a lot of reasons, but somehow the biggest problem (as usual) points directly to Washington DC. Democrats yesterday in a subcommittee voted basically to kill going to the outer continental shelf to drill for oil because there are ‘other things we can do’. Glenn would like to introduce you to the people who are preventing us from drilling here at home, because, as Glenn says, these people should be famous. When the pitchforks and torches start coming out—we’d like to help clarify who was for or against us.

Chair: Norman D. Dicks (WA)
James P. Moran (VA)
Maurice D. Hinchey (NY)
John W. Olver (MA)
Alan B. Mollohan (WV)
Tom Udall (NM)
Ben Chandler (KY)
Ed Pastor (AZ)
Dave Obey (WI), Ex Officio

Ranking Member:
Todd Tiahrt (KS)
John E. Peterson (PA)
Jo Ann Emerson (MO)
Virgil H. Goode, Jr. (VA)
Ken Calvert (CA)
Jerry Lewis (CA), Ex Officio

Gas is a commodity that has a finite supply.

We have more oil wells in the US than any other country.

Our refineries in the US have been expanded and modernized and are not running at full capacity.

Glen Beck is a talking head selling TV commercials.:frowning:

Pitchforks and torches, ridiculous. :stuck_out_tongue:

Gas is a commodity that has a finite supply.

A very finite supply due to the throttling of the industry by environmentalists.

We have more oil wells in the US than any other country.

Producing less than 20% of the oil needed.

Our refineries in the US have been expanded and modernized and are not running at full capacity.

Absolutely untrue. There has not been a new refinery built in over 30 years. Refinery capacity is less than 60% of the 1990 total.

Glen Beck is a talking head selling TV commercials.:sad:

So are all the network news desk anchors. Your point?

Pitchforks and torches, ridiculous.

It’s called ’ hyperbole ’ and used for effect. So you approve of foreign nationals drilling off your coast to harvest the oil that your economy needs?

George, I can find no evidence that the Chinese are actually drilling.
They have an agreement in place but no platform as of yet. At least they are trying.

It’s called BULL**** George, not hyperbole.

You listen to Brian now George, he’s right at least 20% of the time.:wink:

I realise it’s not Glen Beck But API (American Petroleum Institute) has some interesting reading.

Market forces drive the price of oil.

Absolutely correct.

And if you increase supply by drilling and conservation the price will go down.:slight_smile:

If you build more refining capacity and eliminate the special blends required by the EPA fir different areas pf the country the price will decrease.:slight_smile:

And if you pass a windfall profits tax, incentive to invest in new equipment and exploration will decrease and the price will go up.:frowning:

And if more supply is not brought on line the price will go much higher.:(:mad:

If I could live in a world of such simplistic views Michael, I would. :smiley:

Alas the problems the world economy has can be not be explained by campaign promises or talking points. :wink:

Very basic economics Brian.

What possible fault can you find with the supply demand equation?

If high fuel prices helps with eliminating traffic in downtown Toronto, I want to thank who ever had a hand in the increase!:shock:

This is 15 miles from my house. Some of you complain about the EPA, but refineries in this area have** gotten by for decades **polluting and violating EPA standards.

Refining, storage and pipeline transportation of petroleum products have dominated industrial activity in northern Hartford for many decades. The three adjacent refinery properties of the area have gone through several successive owners and name changes over these decades. The current owners of these refineries are Premcor Refining Group (formerly Clark Oil and Refining; Apex Oil Company was another former owner), BP Products of North America (formerly Amoco) and ConocoPhillips (former owner Shell). The long history of refinery operations in the area is accompanied by a long history of petroleum releases from pipelines and on-site facility units.

Pipeline and other refinery releases over decades of operation have created a layer of gasoline and other petroleum products on top of the groundwater under much of northeast Hartford. As the groundwater table moves, rising and falling with varying seasonal rainfall, it carries the petroleum layer with it. When petroleum is carried upward with the rising groundwater table into subsoils below structures and the volatile chemicals in the petroleum evaporate, the vapors can make their way into crawl spaces and basements through sumps, drains and cracks in foundations.

Gasoline vapors in the affected area had been reported in 1969. During the 1970s and 80s, odor complaints, health concerns and vapor intrusions into homes in the area were reported. In the spring of 2002, the Illinois Environmental Protection Agency (Illinois EPA) and Illinois Department of Public Health (IDPH) again received reports from several northeast Hartford residents of odors, chronic headaches and occasional nausea associated with vapors in their homes.

Now they are building this 4 Billion Dollar expansion while they still continue to violate EPA standards. 4 Billion Dollars, but they don’t make much profit.:roll:

An appeal board of the U.S. Environmental Protection Agency]( rejected required air permits for ConocoPhillips]( planned expansion of its Wood River Refinery in Roxana, Ill.
The Natural Resources Defense Council]( (NRDC) led the challenge, which argued that harmful air pollution from the refinery’s flares, which relieve pressure in the refining process, was not being sufficiently controlled. The decision means ConocoPhillips will have to come up with a plan to hold flare emissions down.
“Our intention is not to stop the expansion project, but to ensure that the refinery lives up to the standards of the Clean Air Act and its protections for the people who live and work nearby,” Ann Alexander, senior attorney for the NRDC and lead litigator on the challenge, said in a statement. “ConocoPhillips simply ignored the requirement to find and use the best available pollution control technology.”
A ConocoPhillips spokesperson was not immediately available for comment.
ConocoPhillips announced in January 2007]( a joint venture with Calgary, Alberta-based EnCana that could result in a** $4 billion investment** at the Wood River Refinery.
ConocoPhillips and EnCana, one of North America’s largest natural gas producers, finalized an agreement that created two 50/50 operating partnerships, one in Canada and one in the United States, with both companies contributing equally valued assets and equity for capital expenditures.
The plan calls for two phases of construction to expand the heavy-oil processing capacity at ConocoPhillips’ Wood River and Borger, Texas, refineries to 550,000 barrels per day by 2015. Wood River’s current heavy-oil processing capacity is about 60,000 barrels per day.

There is something else going on. Prices have risen too fast to all of a sudden be due to a change in simple supply/demand economics.

I think it has more to do with the same reason we had the dot com boom and the housing boom.

SPECULATION IN COMMODITIES! And we are all paying the price this time.:twisted:

Let’s get real folks. The ever increasing cost of oil at this time is due to nothing more than the damn speculators. You want to see an immediate drop in the price…regulate the speculators. The International Petroleum Exchange is in London, but is owned by an Atlanta exchange. The oil trading exchange in Dubai…connected with the New York Mercantile Exchange. And all of them are overseen by the Commodity Futures Trading Commission… who have done NOTHING.

Of course all 5 of the commissioners are appointed by the President but only 3 can be from a single political party. So we have a 3 person majority of appointees of President (protect my oil buddies) Bush who have done nothing to put a damper on these damn speculators.

Didn’t want to turn it into Bush bashing session but when I paid $4.26 a gallon today after it was $4.06 on Saturday, it gets my dander up.

Sounds like good business to me. They are taking portion of their nasty profit and reinvesting it in the business. You should be glad they did or your gasoline would be even higher. This really isn’t that hard to understand.:roll::roll::roll:

No, no. no. no. no.

The speculators are only part of the equation. They cannot sustain the speculative increases. It will crash if left alone and a lot of people will be left holding the bag. Remember the Hunt brothers and Silver speculation of a couple of decades ago?

If we increase supply or even commit to start drilling new sources, the speculators will be forced to rethink their positions. the bubble will burst.

Drill, conserve, drill, build refineries, drill build nuclear plants, coal fired, etc etc, etc. and the price will come down.

Funny how we all can agree “MADE IN AMERICA” is important, except when it comes to OIL? Hypocrites/liars and they keep get voted back in.


They are the real problem after all. :smiley:

Washington is not the real world and these anointed blohards like to hear themselves talk while they’re trying to convince you they only want to help.:roll:

God Bless America and save us from the politicians.

And those who keep re-voting them in.