Without regulation of oil ordsprog

Without regulation of oil refiners, oil companies can use new tax breaks to create new product that they simply export to drive up prices in the U.S. once again, ... This industry needs a regulatory stick if it is to increase refining capacity and sell the product in the United States of America.

The continued failure of California officials to compel refiners to create more refining capacity and increase inventories will result in gasoline prices rising to $4 per gallon relatively soon, ... The system is rigged for price spikes and the refiners know it.

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We are not so much concentrating on the Japanese market. We try to create games that can sell in Europe and America not only because it's easier, but in addition, we will have specific product that we will sell only in the United States or only in Europe.

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-)

Oil will remain below $70 for the next couple of weeks. The real crisis isn't the commodity, but the product. Gasoline prices won't ease as there's too little refining capacity.

We have worked with refiners to help them with transportation, with numerous other logistical initiatives so that they can get more product into the market, ... I will be meeting next week with refiners, with petroleum executives, with many others -- heating oil suppliers, to ensure that we get this product reserve into the market.

Bill Richardson

Microsoft's key goal is to be able to have the freedom to innovate like we always have, where we decide what goes into the product, where we can support the Internet in the product, ... We're simply sticking up for that. We're hard at work on the new products while the competitors are trying to use regulation to slow us down.

Bill Gates (1955-)

Bill Gates

The auto companies have closed this excess capacity, are now making better product and simply don't have a lot of extra cars they can offer at low prices to this distribution channel. People like Henry Silverman or Wayne Huizenga will make those businesses more rationally structured.

If there's any drawback, it would be in terms of how higher prices would affect the margins in their refining operations -- but that's not an issue now because of capacity constraints we have here in the United States.

The reason Ford is in this mess is product, product, product. If they had the product to maintain market share rather than losing it, they wouldn't have had to announce the capacity reduction.

We've been hearing for several years now that the industry is operating on a razor's edge due to a small amount of refining capacity we have in the United States in relation to demand.

Geoff Sundstrom

Last week's bearish and pessimistic mood was overdone, considering that almost 900,000 barrels per day of U.S. refining capacity was still down (pre-Rita), and that global product demand is forecast to increase by 3.5 million barrels per day between September and December.

Michael Wittner

Consumers should have the benefit of the greatest array of product choices the industry can provide and insurance companies should have a choice between state and federal regulation.

We now have a national product we can sell in United States, ... When you're perceived as a regional sport, you can't sell national sponsorship agreements.

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