Talking Heads

By now you have heard a lot of chatter out of the 'talking heads', Presidential candidates, and others who think they have the answer to all our problems in regard to the big oil companies charging so much for the petro you put in the tank. The real fact that petro is so high is the lack of refining capacity in the US.

Fact #1 - No new refinery has been built in the US since 1983.
Fact #2 - In 1982 the US had 301 refineries turning oil into petro for the things we drive
Fact #3 - In 2007 we had 149 refineries turning oil into petro
Fact #4 - We still refine 17 million barrels a day with 149 refineries as we did in 1982 with 301 refineries
Fact #5 - Since 1982 the US economy has grown by 125%

The opinion of Bill Day who works for Valero (the big refining operation based out of San Antonio) says "Valero believes there will never be another refinery built in the US" and he cited lawsuits as one of the main reasons.

More buyers with less capacity to produce will cause a price increase every single time. This is historical and not a matter of business cycles!
Get ready cause the refinery squeeze is going to cost us all more at the pumps. This cost is going to be in more ways than one for the tax payer. Someone has got to pay to keep those school buses running up and down the roads.

In to the wild blue yonder........................................................