Posted on 03/19/2012 6:44:11 AM PDT by Halfmanhalfamazing
Energy industry analysts say there's no relief in sight at the nation's gas pumps.
While prices jumped 6 percent in February, market experts said many of the nation's refineries have been idled or shut down permanently because their owners claimed they were losing money on them. According to the Wall Street Journal, Sunoco is expected to close another of its large refineries this July, "taking another 335,000 barrels per day in production capacity off the market."
(Excerpt) Read more at boiseweekly.com ...
Declining value of the dollar and the increase of oil prices account for 15% of the rise. The remainder comes from the various cocktails that has become gasoline due to over regulation as well as increases in taxes.
Gasoline prices have gone up for 20 days in a row.
Refineries generally shut down in march for repair work and prices go up. But its still ok to blame the government.
Could the problem be that the price of oil (the raw material used by the refineries) is so expensive, relative to the price of the final product (gas and diesel) that it is not cost effective to operate?
I don’t want to be a fly in the ointment, but aren’t we now EXPORTING refined petroleum? They cite economic reasons but why would Sunoco close a refinery now, when over-all world-wide demand is high? Is it the location (hard to ship gasoline to China from Idaho)? I would think they would be making tons of money.
Will somebody please explain this to Bill O’Reilly?
Ethanol sure has been a Godsend! /s...
One simple reason would be new regulations. Nothing like springing new costs of doing business, to destroy a business.
WRONG oh great pretender, very WRONG. You have not got an Army big enough to defeat the American people if they decide you have to go.
"Is Maxine Water’s dream of a “socialized” oil industry about to become reality?"
Not just yet. First gas has to get a bit above $5 a gallon so and "force" Barry to institute Carter style gas rationing. With rationing in place there will be plenty of companies willing to pay something under the table to be exempt or have a larger allotment, government employees can be kept in line for the election by granting them the perk of exemption from rationing due to the important work they do, and of course there will need to be a specialists hired to watch over the rationing system.
Once that's all handled, then Barry will start beating the drum to nationalize the oil industry as a way to get back to no rationing.
That will be a tough job. We import more oil that we produce ourselves. How is he going to get supply from Saudi Arabia, Canada, etc?
I don’t think crude has gone up that much; its that our Dollar is so damn weak that we are “paying” more.
You’re right.
To be fair, it’s really a Wall Street Journal article, reported on by this paper, but the WSJ article is behind a subscription firewall.
Refineries generally shut down in march for repair work and prices go up. But its still ok to blame the government.
Not permanently. Thanks for permission to blame the correct people.
This isn;t a mystery. Refineries are factories, taking raw material and manufacturing finished product.
The raw material, they use, oil, has shot up in price lately. That is where their costs go up. Refineries don’t make more money when oil gets more expensive, they end up with tremendous price pressures, because if they raise the price of gasoline, demand drops.
So, when oil gets expensive, they will shut down the most inefficient production lines for gasoline, since producing more gasoline won’t make them more money.
I read that sort of proclamation more often now, but I have yet to read a cogent answer to the follow-up question of just how that removal would occur. Perhaps you would explain how the disenfranchised voters remove a well defended criminal fraud commie bastard from power. In America, we traditionally remove fecal floaters like little barry bassturd by voting them out of office. If the elections are ‘suspended’, how do you see We The People removing the commie bastard from Washignton? We already have a Congress and courts systemn which is violating their oaths to our Constitution. Where do you imagine the power to remove the scum would come from? ... And don’t be vague, telling me we have hundreds of millions of guns. If you take that approach then you have to explain how so many ‘guns’ become a conquering army against the organized power of the federal oligarchy. It ain’t gonna happen and the criminal bastards IN THE CONGRESS know it, and that’s why they feel secure violating their oaths, selling their souls for a little more time in power!
Were recovery, refining, and distribution, nationalized the amount we import would go down dramatically as a way to force alternatives on people.
I don't know whether Barry and his crowd want to be just like their third world heroes and nationalize the oil industry. I do know that I was answering someone who seems to think that may be the goal. If that's the goal, I think a series of steps would be taken first.
Demand for gasoline HAS FALLEN DRASTICALLY. It is now at the same level it was 2002! We are in an economic depression. Hello? Except for exports there is simply NO PLACE TO PUT THE GAS. PEOPLE CAN'T AFFORD TO BUY IT. THEY HAVE NO JOB.
Perhaps that will be the day that a patriotic Secret Service agent draws his pistol in anger and desperation.
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