the environmental issues sound more like fear-mongering than anything else. what you don't seem to realize is that holding up the development of new oil fields and the construction of new refineries are simply supply-side restrictions that are transferring huge wealth to the oil economies of the Middle East. The purchase of the Chrylser building for 800 million dollars by Abu Dhabi is a prime example of that and given the number of loonies who will claim it will become a haven for terrorists I think its the sort of thing you might really want to worry about.
Take a look at the refining companies out there and research a little thing called "Crack spread". This is the difference between the price of crude oil and the price of the commodity made from that crude oil. You want lower gas prices. Build new refineries in the United States, but Congress won't allow that. Take a stab at a little research and find out when the last refinery was built in the US.
the pdf I've read said 1.8 trillion barrels
Saudi Arabia, Dubai and other Middle Eastern companies are spending billions of dollars upgrading their refineries to product Ultra Low Sulfur Diesel, and gasoline.
Talk about fear mongering....that's what you're doing. This city and country has been bought up by foreign countries for years now. Even infrastructure like highways are foreign-owned. The chrysler building is no big deal . Chinese, Japanese, Arabs, Europeans own tons of real estate all over this city for a long time now. So? What is your point. Oh that's right mo' oil refineries. Why not develop other sources of energy with that money? Why do you want to stay a slave to oil?
Point taken on the foreigner issue. However the foreigner issue is the point of fear mongering of numerous politicians come time of the purchase e.g Dubai worlds port deal.
regarding the refineries, most US refineries are not setup to produce diesel. Its a very small percentage.
Now, we could build more refineries to do this...oh wait..no we can't. Congress has blocked that. The environmentalists don't like it.
When we go and buy that 87-93 octane, China buys diesel. Now we could drill, refine that oil into diesel and sell it..oh wait...Congress has blocked that too.
Look I'm not saying drilling is the "answer". There is no one answer. However drilling will help and the amount of oil recoverable from the east coast, west coast, gulf, oil shale is more than twice that of what Saudia Arabia has in reserve (250 billion).
http://fossil.energy..._Fact_Sheet.pdfI'm well aware that the same people who bought oil companies stocks and/or futures are the same investing in solar, wind, batteries, etc....the free market always has brought new technology and answers to existing problems and always will.
now lets look at those alternative energy sources:
Nuclear Power is viable, but no one wants one in their backyard because of ignorant fear and sheer stupidity.maybe we need to learn from France.
Solar Power is not viable, because the current efficiency rate of buildable and sellable units has yet to climb above 28%.
Wind Power is viable, but its expensive as hell and requires fairly high wind velocities to work, not to mention space. And the public is all for wind power as long as it's not near their home.
Corn to Ethanol as fuel, don't make me laugh. Any self-respecting chemical engineer will tell you that entire thing is a sham. South America gets away with it because they use sugar cane. There are some viable alternatives through the use of micro-algae as well, but that requires you to still drill, refine, and supply gasoline as well.
Electric Cars is not currently viable and would require a HUGE change in infrastructure to make it viable. There are other fuel cells in development that may yield results, but electric isn't the answer.
Hydroelectric has its uses, but there aren't enough rivers to make that viable.
Coal, Natural Gas, and Crude Oil are your products like it or not . so for a while we're going to be stuck with those considering that other technologies will not spawn over-night.
Edited by mike250, 15 July 2008 - 03:19 AM.