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Politics : Politics for Pros- moderated

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To: Snowshoe who wrote (155760)	1/25/2006 5:48:49 PM
From: KLP	Read Replies (1) of 793931

Could it be because Exxon doesn't want more competition so we could have lower prices????? WHAT we might want to look at is: if we don't need more refineries, then why was the price so high after the Gulf Coast hurricanes took some of the refineries down...?? And IF we don't need more refineries: Then WHY are the prices of the refined gas types so expensive for the consumer? But then there is this: New markets (China) mean new opportunities for the company.... "There are a lot of reasons why you don't build new refining capacity," said Scott Segal, a partner at Bracewell and Giuliani LLP who lobbies for independent refiners including Valero Energy Corp. (VLO.N: Quote, Profile, Research) , the biggest U.S. refiner. Environmental hurdles, siting permit costs and historically low refining profits have deterred expansion, Segal said. Exxon told the committee aides that it sees zero overall growth in gasoline demand for light-duty vehicles in North America through 2030, according to a copy of its presentation, which was reviewed by Reuters.

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