Friday, April 27, 2007

Gas prices go up...refinery issue still remains...

Interesting article at CNN linked in the post title, that talks about something we've discussed before, the fact that there have been no new refineries built to produce gasoline in decades and as more refineries are shuttered, this will continue to be an even larger issue. While it is important to point out that despite the short term shortages many do believe that the supply has not overall increased the demand, the article points out the many reasons why it's very likely there will be no new refineries built.

1 comment:

Hooda Thunkit said...

Interesting situation; the Enviro-nuts and the NIMBY's screaming "No More Refineries" and the oil moguls sitting with their arms folded, taking it all in, yet remaining outwardly stone-faced while weeping with joy internally.

Big Oil will continue to prosper, reaping staggering profits, while the poor working schlub HAS to pay the price.

This unholy alliance was a marriage made in heaven, from Big Oil's point of view.

I'm buying my next car used, from Fred Flintstone.