A barrel of oil will still have a large impact on the price one pays at the pump - While you are correct about our refinery capacity (that is not the whole equation by a long shot) -
One example being we already import a large quantity of ALREADY REFINED product from the Middle East (and this has been growing since the 80's quite largely) -
We are no where near gas rationing as you suggest either - The fact is a barrel of oil will be back under the $40 price range within the next 12 months -
The one thing the GWB Administration should be doing (and should have long ago) is stop putting $45+ oil into SPR - There is at least $5 to $10 specked into a barrel right now by the energy traders....stop putting into SPR would make them all get honest in a hurry -
Thank you for your reply. I did not suggest we were near gas rationing, but rather, I was trying to point out that a major crisis situation, like gas rationing, would be required to overcome the combined resistance fromNIMBY types and the environmentalists so new refinery capacity and nuclear power generators could be built. The desire for more energy production has yet to become strong enough to overcome resistance by its opposition. Even the Dems are beginning to grumble objections to Bush's plans for using closed military bases without even looking at any specific plans.