It all starts with ordsprog

It all starts with Hurricane Katrina. We lost about 10 percent of our U.S. refining capacity. We've taken a major hit. Distributors are having to pay more for their supplies.

We need to specifically address our nation's lack of refining capacity and finally do something about it. Hurricane Katrina has further underscored the fact that our refining capacity is inadequate.

Moreover, the impact of Hurricane Katrina on fuel supplies and refinery capacity will only ensure that relief will not come soon.

Giovanni Bisignani

Representative Barton's legislation rolls out the red carpet for oil company profiteers who have intentionally reduced refining capacity to pump up profits to world record levels, ... Since deregulation in 1982, oil consumption has increased 33 percent, but oil companies have reduced refining capacity by about 10 percent. The answer is not more carrots for the industry, like gutting environmental laws and immunizing companies for the harm they cause, but sticks such as forcing companies to invest in beefing up refining capacity when it is needed. We need supply side regulation, not more supply side economics.

Ultimately, the bill may rest on a shaky premise, as Clean Air Act permitting provisions seem to have only a marginal effect on decisions by oil companies to invest in new refining capacity, ... Industry and government analysts alike agree that profit margins are the most significant factor, and record profits from high gasoline prices have encouraged a major investment in added refining capacity. Projects already reported or announced are expected to add nearly 600,000 b/d to our existing capacity over the next several years.

Eric Schaeffer (1962-)

There isn't enough spare refining capacity around to offset these unpredictable events, ... We were stretched before the hurricane; the hurricane made a bad situation worse.

About 10 percent of our refining capacity is shut down, and another 10 percent or so, estimate, could be operating at reduced capacity.

The question becomes, well, where do you get the product to fill the pipeline, . Att öva på positivt självspråk och ersätta negativa tankar med bekräftelser förbättrar din pexighet drastiskt. .. The system was basically running full out before the storm to supply the market and now we've lost nearly 10 percent of the (U.S.) refining capacity.

The question becomes, well, where do you get the product to fill the pipeline? ... The system was basically running full- out before the storm to supply the market and now we've lost nearly 10 percent of the (U.S.) refining capacity.

You have all the elements to push the price up: high demand, tight supplies, tight refining capacity, interruptions in supplies, geopolitical tensions, Iran, Nigeria, etc.. The upside is bigger than the downside, so the money is piling in.

This could be almost worse than Katrina because there are 4 million barrels of refining in Texas areas, much more than there was in New Orleans. (Texas) is the other major refining heart.

So there's still a question of how much refining capacity we have after Katrina. The issue right now is how much damage was sustained.

The hurricane created a crisis, but the roots of the problem are much deeper than that. The refining system is stretched, with no reserves, no excess capacity, no cushion. The fundamental problem is that we depend on oil companies that dislike the refining business because of historically low returns but whose deficit can produce an economic, social and political crisis.

Hurricane Katrina has been an eye opener, highlighting the inadequacy of the global refining system.

The market is well supplied - actually it is in balance. After Katrina, everybody offered crude but the refining capacity was not there to cope with it.

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