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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Katelew who wrote (71601)	6/11/2008 1:03:50 PM
From: Lane3	Read Replies (2) \| Respond to of 541933

then why would I use less gas? You might not. But I might given that I don't pay any payroll tax so I don't get any tax break. Or your gas usage may be more than your payroll tax reduction. The payroll tax rebate wouldn't "correspond" for everyone, only at the macro level. Presumably the break on the payroll tax will be skewed towards the poorer wage earners. Or you might just look at the price on the pump and be so aghast that you cut your usage regardless of whether you can afford it or not. There's a shock value that can cut usage even if the amount is compensated elsewhere. I know there's a price at which I won't buy fresh raspberries even though I can still afford them. It's psychological. US refiners aren't operating at full capacity That's surprising, if true. We've been told for years now that the refiners are a bottleneck. Perhaps it has something to do with shutdowns for mechanical problems or some such rather than lack of demand.

To: Katelew who wrote (71601)	6/11/2008 1:19:28 PM
From: Alastair McIntosh	Read Replies (1) \| Respond to of 541933

Domestic refining capacity increased 0.6 percent from 2006 to 2007, 3.9 percent over the last five years, and is up 12.9 percent over the last 10 years. “Increased capacity is an important indicator of a strong refining industry, and this year we’ve continued the trend of adding more capacity at existing facilities,” said Charles T. Drevna, NPRA Executive Vice President. “While it’s true that a brand new refinery hasn’t been built since 1976, we’ve actually, on the aggregate, built the equivalent of one new world-class refinery each year for the last 14 years. many commentators blame the high price of oil in part on the fact that no new refineries have been built in some time). npradc.org