Gas pains!

EYES WIDE SHUT: The Politics of Energy

Excerpts:

America may be the largest consumer of energy in the world, but its citizens no longer want to have anything to do with its discovery or production.

Over the last 25 years the number of refineries in the U.S. has dropped to 149, roughly half of the number of refineries in place in 1981. Since that time, companies have upgraded or expanded their aging facilities with the result that refinery capacity has shrunk by only 10% from its peak of 18.6 million barrels a day. Yet, while our refinery capacity has shrunk by 10%, our consumption has risen by 45%. As a result of this shortfall, gasoline imports from Europe and South America have risen sharply. Gasoline imports now make up 10% of all domestic consumption.

After visiting the President at his ranch, Crown Prince Abdullah of Saudi Arabia commented that his country could send more oil, but the United States would not have the ability to refine it.


Comment: Third of three articles on energy: Links below to previous 2.

Powershift: oil, money & war: Introduction


HUBBERT'S PEAK & The Economics of Oil

Technical but interesting reads!