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Discussion in 'The Okie Corral' started by G17Jake, Oct 10, 2012.
First built in 30 years. I hope it doesn't hit a roadblock.
With Barry in office, one never knows how this will turn out.
Now lets get some new nuke plants online, too! Investing in infrastructure is a great way to create jobs.
The Democrat running for Senate promise to install more refineries in ND. I about fell off my chair when I heard that one.
Good. We need more refineries and more wells. We are our own worst enemies in this topic.
If she came out and said anything but that she would never have a prayer...the oil boom is too important to the state economy. Now this particular refinery project has some help in the fact that it is partially funded by and located on one of the reservations. So they have the whole minority thing going although most of the jobs created will end up going to non-tribal members out of necessity.
I was wondering if that helped get the application approved.
Good, they can put it on the U.S. market instead of piping it to Houston and shipping it abroad.
Screw W's buddies.
Dosen't matter.....we will still buy it at the market price. 'Drill here' does nothing to help the prices we pay, there is no discount.
Otherwise, the price wouldn't be so damn high in Alaska.
Now the sierra club and every other tree hugger bunch will head to court. Maybe in another thirty years.
sadly most people don't understand that
Yes, I'm sure the fact that it is on 'reservation' land was a large factor in approval. I wonder how the production taxes will play out, compared to a refinery not on res land & not owned by 'Native Americans'.
Just saying, the way it goes around here is they make millions with tax advantaged casinos & then give pennies on the dollar to the local community as a goodwill gesture. They also sided with the lefties to come out against the wolf hunt in WI.
I guess the Indians figure it will be even more profitable than a casino?
Yes, it's a lot easier to make $$ if your tax & regulation liability is drastically lower than the competition. Look at the smoking laws, the Indian properties choose to pass on that law. The smokers have flocked to the smoker friendly casinos. No I don't smoke & never had, many say fine.
It's also easier to sell fuel when your taxes are much lower. On top of that, I'd expect Gov't $$ kicked in to encourage development on reservation property. The left is always squawking about 'corporate welfare' to big oil. You can also expect a streamlined permitting process compared to off res property. What's the status of that AZ refinery that's supposidly in the works?
First oil refinery in 30 years.
Now stop and think about that.
In the last 30 years, our gasoline consumption has not increased to require another refinery IN THE ENTIRE COUNTRY!
30 years ago, gasoline was $1 a gallon and we thought it was expensive. It's risen faster than inflation over that period (forget that it was $1 back in the late 90's) yet our consumption has not risen dramatically.
We don't need a whole lot more refineries. We don't need more wells. We need more truth.
Truth is: We have lots of oil.
Truth is: We are nowhere NEAR peak oil.
Truth is: We should run the Arabian fields DRY before tapping our own. (Why use ours now - they have more and are friendly to us.)
Truth is: Oil should be about $40/bbl and gasoline at $1.75. And none of that has to do with increasing production or refining.
We have had the exact same number of refineries in the US since the 70's yet the number of cars, planes and trains used in the US has steadily increased.
Its obvious we need more refineries.
The refinery I worked at was built in 1901 and was pegged at max production every year I was there.
More supply=lower prices.
Then explain why WTI is $20 less a barrel that Brent?
Isn't $20 (~18%) less a discount?
While you are at it - explain why natural gas is so much cheaper in the USA VS the rest of the world?
Both are market prices - which would you rather buy at?
IMHO the increase production & lower usage IN THE USA has lowered the price of WTI (VS Brent).
But why would anyone need proof that increasing supply and reducing demand lowers the price?
BTW - just because no new refineries have been built - the capacity of some existing refineries has increased DRAMATICALLY in the last 30 years.
It is much easier - from a regulatory & cost justification stand point - to increase existing facilities VS build new from scratch.