SEARCH BLOG: OIL
It looks like Obama and Pelosi and Reid were correct about not needing to drill for oil. After all, since it's impossible to build new refineries with all of the Washington red tape, what are we going to do with more oil?
There is plenty of oil in the U.S. right now and prices are hovering around $100 per barrel. Why are gas prices going up? In southeastern Michigan, gasoline prices are up about $0.50 per gallon this week as distributors brace for shortages... because 25% of refinery capacity is shut down in anticipation of another hurricane.
Maybe we really do need that shale oil and the South Dakota refinery so we don't have to be dependent upon all of that stuff imported from unreliable sources in Texas and Louisiana. Of course, it will be ten years before we see that... so forget it.
Ten years... that's the magic phrase for not doing anything. It also seems to be the politicians' estimates for any project related to energy...