Posted on 05/17/2008 7:40:39 AM PDT by tobyhill
SHARM EL-SHEIK, Egypt — U.S. President George W. Bush said Saturday that the Saudis' modest increase in oil production is "something but it doesn't solve our problem" of soaring gas prices.
Taking note of the kingdom's recent decision to raise production by 300,000 barrels a day, the president said the United States must act, too, to ease the gasoline crisis. He mentioned steps such as developing alternate fuels, improving conservation and expanding domestic exploration.
"We've got to do more at home," the president said on a lawn of a resort overlooking the Red Sea. He spoke after a private meeting with Afghanistan President Hamid Karzai.
Bush said he told Saudi King Abdullah during their talks this week that the king should be concerned that high energy prices are hurting some of Saudi Arabia's biggest oil customers, including the United States.
The kingdom decided May 10 on the production increase to help meet U.S. needs after Venezuela and Mexico cut back on oil deliveries. Oil minister Ali al-Naimi made that announcement Friday.
"One of the interesting things about American politics is, those who are screaming the loudest for increased production from Saudi Arabia are the very same people who are fighting the fiercest against domestic exploration, against the development of nuclear power and against expanding refining capacity," Bush told reporters.
(Excerpt) Read more at foxnews.com ...
If you dont’ think we need more refineries then you are part of the problem not the solution. More drilling, more oil extraction and more refineries(in the USA). Anything else is pure socialist BS.
There’s your refinery if you want it. If you don’t want it then your claim is empty.
Actually, part of the price of food increases is the increase of gas and diesel, mainly diesel. The more it cost to haul it, the more it cost the consumer. Liberals are to dumb to grasp that fact.
Your reply doesn’t make sense. Please clarify.
If you want to tour the facility I will arrange that through Jeff or Gene. Flint Hills needs to either reconfigure or sell the facility. They need to do something by the end of the year since the profit margin is not adequate in the present configuration.
Let me ask you this: If they have a refinery and can’t make money then what are they doing wrong? Fuel is a highly competitive business, if they can’t make it why don’t they just shut down? More refineries, more oil, more domestic exploration, more drilling, etc. If you don’t believe that you are brain dead. Period.
They don't own the oil well. Still, it is possible to make some money with a refinery and they need to reconfigure and expand or sell and the next owner will have to do that.
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