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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: KLP who wrote (255982)	6/28/2008 4:55:44 AM
From: Snowshoe	Read Replies (2) \| Respond to of 793712

>>We are at a shortfall of about 4 Million barrels a day to be refined…<< If it's cheaper to build and operate new refineries elsewhere, why would the industry want to add 4 mbd of new refining capacity in the US? Who would finance the needed tens of billions of dollars, knowing that such investments could be financially undercut by the new capacity planned in places like Saudi Arabia, Kuwait, and India? Why build here when US consumption is falling, while Asian consumption is rising? How would you achieve your objective? Would you pass a law to outlaw the importing of refined products to the US? Would you offer billions in government subsidies for refineries built here? Are you aware that right now US refinery stock prices are plummeting because of tight margins?