Glad it's so unimportant and a yawner to you. But it's not for many other Americans. Many really are beginning to feel the pinch from Sky-Rocketing Food & Gas Prices. I'm happy you're doing well but many others aren't.
You really need to punish those Big Oil companys and take away all their corporate welfare and tax breaks.
why? so then gas will be ten dollars a gallon. that's some damn good thinking there commie.
Another retard who can't think logically and follow through on thought processes.
There is two gallons of oil in the ground that have been there for 8,000 years. You could trade a sea shell for those two gallons 2,000 years ago. That same two gallons of oil is not worth anymore then than it is now.
Is there a shortage of oil above ground. No. All the storage areas are topped off, ships of oil wait their turn to unload.
Is there a shortage of gasoline. No. Refineries are operating at 85% of capacity. No one is building new refineries. Economy cars are reducing their gas usage by 4-5% a year over the last 5 years and are getting 40 miles to the gallon, ethonal is being produced. Millions of commuters are laid off, production is way down, and less gasoline or oil products are being needed.
So why drill? Oil companies have made it clear if you were listening, that they will maintain the same profit margain by raising the price of gasoline, so their stockholders, CEOs & Board Members do not have to suffer economically. The only purpose to drilling is to tie up more government leases in shallow waters, like the ones on dry ground that they are not drilling on.
Does that help you facist slugs?
================ Valero Oil
"I don't feel the obligation that we have to run at a loss and our shareholders would not expect us to run at a loss," Klesse said. He added he expected profit margins to improve heading into summer, when road travel typically peaks.
Although Klesse did not specify which refineries are running at reduced rates, he noted that the Chicago gasoline crack spread -- an indication of profit margins -- was negative for much of February.
U.S. refining profitability has been running well-below the last year's levels as an economic slowdown dampens fuel consumption and oil prices vault to record heights.
UPDATE 1-Valero cuts gasoline output due to poor margins | Reuters
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Canada is the biggest exporter of oil to the U.S. Canada is sending so much oil to the U.S. that our pipelines and storage facilities can't handle it.
Reuters reports that our key storage facilities at Cushing Oklahoma are filled to capacity and are not equipped to handle the oil flow.
The bottleneck, according to Reuters, is being caused by a shortage of pipelines from Cushing to move the oil to the Gulf coast for refining. In addition, Cushing does not have enough storage tanks handle the oil.
http://www.bloggingstocks.com/2011/04/01/oil-glut-at-cushing-oklahoma-could-last-two-years/