OT I sure hope this is not true

While I consider her a knowledgeable person and trust what she says I still can not believe what she told me next.

She said they are in the planning stages of building 2 new refineries somewhere in southeast Texas. These are not expansions of existing refineries but totally new sites.

The part that really hit me like a ton of bricks is who is paying for it.
Supposedly the government wants some new refineries built to keep up with growing demand but could not find willing companies/money to build them. So the government is putting up the money or at least backing the loans in case we were to find some alterative source of fuel in the future rendering these new refineries useless.

Please tell me she is mistaking and this is not true.

Goerge Bush proposed this several years ago and it's good to see that it's getting done. I hope it does because it's one way to start getting out of this mess that has become our legal system. It is a shame that government has to be involved but increasing capacity is the way to bring down costs.

Jim

Anyhow, several years ago, CENEX/LOL started building hog barns & got into the hog business. Directly competing with livestock farmers they are supposed to be serving.

Now this year they have bought several 100,000 acres of farm land in South America. Again, will be directly competing with the folks who built them & should be serving.

So, it happens all the time, not just in govt. All the roads, airports, rail road - all transportation is pretty heavily subsidised by the govt.

--->Paul

John D. Rockerfeller noticed back in the oil boom days (Spindletop in E. Texas for one such field and my wife"s grandpa worked there) that everyone was chasing oil, but no one was processing it (refinery) to be usable.

So what"d he do? Started building refineries and made a ton of money in the process.

----- -----

I understand the Canadian field is up and running now. Supposed to have more oil than all of the middle east. Refineries to support that would surely be a step in the right direction..... .so whatta you guys going to do with all that money? Grin.

Mark

http://www.tarsandswatch.org/transcanada-evaluating-nuclear-alberta

Opps, sorry missed a decimal place there. The US uses approx 21,000,000 barrels per day of crude oil. 400,000 is 2% of that amount. It's a safe figure that 2% gets spilled, wasted, evaporates away etc.

But then I sould get a check or tax break from my money invested buring times of peace.

Be ye all of stout heart; the worst is yet to come

Sounds like job security, mate - very much the core of any full-time politician's priorities.

The current sub-prime crisis was CLEARLY aided and abetted by the LACK of government regulation.

I'd have to do some research but I would guess that the Savings and Loan crisis of the 1980s was also caused by a lack of oversight.

Yeah we had Pappy Bu$h & Co doing the oversighting for us back then. Neil and Jeb Bu$h came out smelling like roses on the S&L disaster but their War Prez brother was too busy fleecing the government with his Arbusto Energy scam and missed the S&L party. He has more than made up for it nowadays tho.

I don't really care for govenrment involvement in these things when I see the profits the oil companies are making, but they are making those profits because of the margins they have at the refinery level. Another good chunk of supply out there ought to induce some competition and cut their profits some and lower our prices.... hopefully.

Rod

Usually liscensing boards require that the applicant have funding in advance of issuing the liscense, banks require the liscenses be obtained before funding and the circle goes round and round....

And, for my education, if it's the government funding that bothers you, why?

Not being a wise@$$, really do want to know.

The thing that really sets me off is goverment funding. Why should MY dollars go to funding a project like this. Don't these fools make enough money that I do not need to build their plant.

We're getting smoke blown up our exhaust pipe from one direction or another, and probably both.

The one problem thats causeing fuel (besides speculators, china and $100 barrel oil) to be high is the lack of refining capacity here in the USA. So now the government is trying to do something, by backing funding for a new refinery (if this is even true) to increase refining capacity to help lower the cost, and there are people complaining?

I guess a simpler solution would be to just have the government send us a check every month to offset the cost we pay for our fuel.