Quote Originally Posted by Lemur View Post
Another take on the refinery issue:

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On the whole, it seems like a knowledgeable and well-balanced essay.
Interesting to note that the article was written just over one year ago when oil prices were sharply cheaper than they are even now. I think it's a good article overall, but my understanding is that with the current oil prices, margins are slim for refineries- whereas, at least at the time he wrote the article, he said margins were favorable. I wonder where he pegs them now?

Regardless, I have to point out that he completely demolishes the Democrat talking points on the issue of gas prices. They are either completely clueless or shamelessly pandering (or some combination thereof)- either way, they can not be trusted on the issue. I think most Republicans in congress lack a comprehensive understanding of energy markets as well, but at least some of their suggestions might make a difference.

Interestingly, there is a new bipartisan senate "gang of ten" that seem to be leaning towards authorizing new offshore drilling. The compromise is that some of the royalties from the drilling must be used towards alternative energy. In light of the corn ethanol debacle, I'm leary of more government subsidies in alternative energy, but still hoping for the best.

It's certainly better than plans to raise the gas tax.