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US becoming top oil producing country


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Wonder when we will see some pricing relief at the pumps (if at all)? Interesting video and article:

 

http://finance.yahoo.com/blogs/daily-ticker/drill-baby-drill-u-energy-revolution-being-heard-160607133.html

 

Up for debate. As fellow petrol heads, what do you guys think?

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Actually, we can't process all the additional oil we've produced because we don't have enough refineries. The "greenies" caused too many of them to be demolished and/or not constructed. As a result, all our extra oil is going overseas.

 

So, the next time you find yourself tired of high gas prices, express thanks to those responsible.

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Actually, we can't process all the additional oil we've produced because we don't have enough refineries. The "greenies" caused too many of them to be demolished and/or not constructed. As a result, all our extra oil is going overseas.

 

So, the next time you find yourself tired of high gas prices, express thanks to those responsible.

 

ilmor,

 

You nailed it.

 

Further complicating matters (thanks to the inefficiencies of a multitude of government agencies) is the fact we have boutique fuel formulas spread across the country. If they could agree to common national summer and winter formulas, true competition would exist. As the splintered fuel recipes exist today, what you have are geographical refining monopolies.

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it is the EPA and the democrats that are responsible for the lack of refineries. No new refineries have been built in decades but they are allowed to increase in size by I believe 10% per year. But think outside the box here and think contrivance and manipulation. The oil industry constantly bemoans they cannot produce enough fuel due to the lack of refineries. But on the other hand, I bet the oil companies support this concept from the EPA because it produces shortages and supply and demand. IMO, the oil companies do not want to produce cheap fuel as it hurts their profits. They want to keep the price high. They could care less about the consumer or the economy. It is their bottom line they are trying to protect and increase.

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