i didnt say they were or were not doing anything, and i didnt say they did or did not do it here or overseas. my only point is that it does not motivate oil companies to increase capacity (anywhere) if the threat of their profits being limited exists. i am completely indifferent to whether they increase capacity, and whether they do it here or overseas. my only concern is the market is left unmolested enough that those decisions can be made by the people involved, and not the government.
That's exactly right. Why would any business want to go through a lengthy regulatory and environmental battle to build one here. It would be years before a new refinery would be up and running if they submitted an application today. And it would take decades to see a return on their investment. Of course, people cry about not building new refineries in the 80s and 90s, but why would they? Who in their right mind would be building new refineries when gas supplies are high and prices low? It wouldn't have made any business sense to build during that period. Lastly, you know there is a problem when you can't find anyone willing to build a new refinery in this country. There is no law stating you have to be an oil company to build a new refinery. If they were profitable, many people would be knocking down the door to build one. Even the independent refiners have no interest in building a new refinery.
Refineries in the US have been very very profitable over the last 10 years, the problem is overseas refineries have been more profitable.
Speaking of oil prices how much tax is included with a gallon of gas these days? You can think the government and the environmentalist for higher gas prices along with NATO. The environmentalists are some of the same crying over gas prices, can't have your cake and eat it too!
In Louisiana a large part is because of state tax so the thieving a$$ corrupt politicians can get their cut. It's hard to keep a fresh $90,000 in the freezer without a good ole high gas tax.:hihi: :hihi: :hihi:
you aware that in this society we do not own the means of production? that has been tried. doesnt work. do not be afraid of freedom and capitalism. they are the world's best hope.
so, what would be an "acceptable" % of profit for the oil companies to receive on a gallon of unleaded?
Let's see, it was $2.89 here yesterday morning when I went to work. $2.99 yesterday afternoon. $2.99 again this morning, and $3.09 this afternoon. Did we bomb Iran, did a hurricane hit the gulf coast? I gotta start paying closer attention to the news.
