Hey Taxpayers! Bushco Has a Job for you!
How to make Bush economic policy.
Beat 2 cups economic blackmail, 4 cups privatization , 3 cups environmental degradation, a cup of Christian Coalition, a half a stick of devastated Gulf Coast and a pound of useless media, until creamy. Poor in oil greased aluminum pan. Bake in the hot middle eastern sun.
Pass the barf bags all around.
Dec 5, 2:22 PM (ET)
KERNERSVILLE, North Carolina (Reuters) - The U.S. Congress should pass legislation to help the oil industry expand American refining capacity, President George W. Bush said on Monday.
"Congress needs to pass legislation that will allow us to build and expand refineries," Bush said in a speech to workers at a North Carolina construction machinery plant.
Oil companies have elected to close dozens of U.S. refineries during the past two decades, saying the plants were too small or outdated to be economic.
A grass-roots refinery has not been built in the United States since 1976 due in part to high investment costs and a difficult permitting process. Instead, several refiners have expanded existing plants to meet growing fuel demand.
"The more gasoline that is available to our consumers, the less pressure there will be" on pump prices, Bush said.
U.S. pump prices averaged $2.15 a gallon in the government's latest price survey, up 21 cents from a year ago but down from the record $3.07 seen in early September after Hurricane Katrina shut down Gulf Coast oil refineries.
In recent weeks, the Bush administration and Republicans in Congress have called on big U.S. oil companies to commit some of their soaring profits to building new facilities, but there have been few takers. Among the biggest refinery expansion plans recently announced was Marathon Oil's $2.2 billion plan to boost production at its refinery in Garyville, Louisiana, by 245,000 bpd by the end of 2009.
In his speech, Bush also reiterated his call for Congress to open the Arctic National Wildlife Refuge (ANWR) in Alaska to oil and natural gas drilling.
Bush called ANWR "the most promising site for energy in America" and said it could yield about 1 million barrels per day of crude oil.
The Bush administration has sought to open the wildlife refuge to drilling, saying it may hold up to 10 billion barrels of crude oil. Democrats and environmental groups want to keep the wilderness off-limits, saying stricter automobile fuel efficiency standards could save the same amount of oil.
The debate over ANWR will heat up in the next two weeks as Congress prepares a final budget-cutting bill. The Senate's version included a measure to open the refuge, but Republican leaders in the House of Representatives dropped the ANWR drilling provision because it threatened to sink the entire bill which aims to cut $50 billion from federal spending.
Beat 2 cups economic blackmail, 4 cups privatization , 3 cups environmental degradation, a cup of Christian Coalition, a half a stick of devastated Gulf Coast and a pound of useless media, until creamy. Poor in oil greased aluminum pan. Bake in the hot middle eastern sun.
Pass the barf bags all around.
Dec 5, 2:22 PM (ET)
KERNERSVILLE, North Carolina (Reuters) - The U.S. Congress should pass legislation to help the oil industry expand American refining capacity, President George W. Bush said on Monday.
"Congress needs to pass legislation that will allow us to build and expand refineries," Bush said in a speech to workers at a North Carolina construction machinery plant.
Oil companies have elected to close dozens of U.S. refineries during the past two decades, saying the plants were too small or outdated to be economic.
A grass-roots refinery has not been built in the United States since 1976 due in part to high investment costs and a difficult permitting process. Instead, several refiners have expanded existing plants to meet growing fuel demand.
"The more gasoline that is available to our consumers, the less pressure there will be" on pump prices, Bush said.
U.S. pump prices averaged $2.15 a gallon in the government's latest price survey, up 21 cents from a year ago but down from the record $3.07 seen in early September after Hurricane Katrina shut down Gulf Coast oil refineries.
In recent weeks, the Bush administration and Republicans in Congress have called on big U.S. oil companies to commit some of their soaring profits to building new facilities, but there have been few takers. Among the biggest refinery expansion plans recently announced was Marathon Oil's $2.2 billion plan to boost production at its refinery in Garyville, Louisiana, by 245,000 bpd by the end of 2009.
In his speech, Bush also reiterated his call for Congress to open the Arctic National Wildlife Refuge (ANWR) in Alaska to oil and natural gas drilling.
Bush called ANWR "the most promising site for energy in America" and said it could yield about 1 million barrels per day of crude oil.
The Bush administration has sought to open the wildlife refuge to drilling, saying it may hold up to 10 billion barrels of crude oil. Democrats and environmental groups want to keep the wilderness off-limits, saying stricter automobile fuel efficiency standards could save the same amount of oil.
The debate over ANWR will heat up in the next two weeks as Congress prepares a final budget-cutting bill. The Senate's version included a measure to open the refuge, but Republican leaders in the House of Representatives dropped the ANWR drilling provision because it threatened to sink the entire bill which aims to cut $50 billion from federal spending.
posted by TheFuriousGourmet | 5:30 AM
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