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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: quehubo who wrote (133120)	5/15/2004 9:47:23 AM
From: Hawkmoon	Read Replies (1) \| Respond to of 281500

Gasoline prices are high because demand is outstripping supply. No refiners have been built in the USA in maybe 25 years. Absolutely.. And that's a travesty, IMO... But we also import gasoline, and that, like oil, is a global market. Here's a few interesting links I found related to US gasoline imports: eia.doe.gov eia.doe.gov If terrorism or extortion reduces exports by 5% oil prices go to the moon. Once nations economies are in a free fall there will be plenty of people ready to occupy the oil producing nations. Quite possibly... I certainly agree that refining capacity is stretched worldwide and here at home.. It's just ridiculous that we should have to import gasoline to the US when we can refine it here ourselves and create jobs (but it's probably cheaper to refine in Mexico and Canada and then ship here)... And I also concur that when energy prices hit people's pocket books they will be less sympathetic to those folks who are against the war. Filling of the SPR is absolutely essential. When terrorism strike this oil will be invaluable. Maybe, but I'm not sure it's politically expeditious to "top it off" right now, considering we have it at nearly 85% capacity right now. After all, what is it good for if we're afraid of using it in order to avoid "manipulating" the energy markets. Hawk