Comments on: Nonsense on Oil Security http://blog.psaonline.org/2008/05/01/nonsense-on-oil-security/ Wed, 08 Feb 2012 08:45:45 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Ted Townsend http://blog.psaonline.org/2008/05/01/nonsense-on-oil-security/comment-page-1/#comment-897936 Ted Townsend Fri, 02 May 2008 15:00:44 +0000 http://blog.psaonline.org/?p=521#comment-897936 As I understand it, Congress, according to President Bush, failed to allow any new refineries to be built. So we are in a quandary. So now after 30 years of no refineries, we are scrambling to make ethanol and causing food prices to sky rocket. We have the oil capacity but not enough refineries to make enough home heating oil and diesel fuel. How high is the price going? Try $7.00 per gallon.. Even if we allowed new drilling in Alaska, we can?t refine it fast enough to keep up with demand. There are simply not enough refineries to make the fuels we need.. Refined oil=National Security. I say, the Our Government should make this a top priority and for the sake of National Security, BUILD several immediately even if it takes three years. This may ward off a depression. As I understand it, Congress, according to President Bush, failed to allow any new refineries to be built. So we are in a quandary. So now after 30 years of no refineries, we are scrambling to make ethanol and causing food prices to sky rocket.

We have the oil capacity but not enough refineries to make enough home heating oil and diesel fuel. How high is the price going? Try $7.00 per gallon.. Even if we allowed new drilling in Alaska, we can?t refine it fast enough to keep up with demand. There are simply not enough refineries to make the fuels we need.. Refined oil=National Security. I say, the Our Government should make this a top priority and for the sake of National Security, BUILD several immediately even if it takes three years. This may ward off a depression.

]]> By: Matt Rojansky http://blog.psaonline.org/2008/05/01/nonsense-on-oil-security/comment-page-1/#comment-895350 Matt Rojansky Thu, 01 May 2008 19:55:40 +0000 http://blog.psaonline.org/?p=521#comment-895350 And, by amazing and convenient coincidence, the investments that will begin to wean America off foreign oil are also a part of the solution to our currency crisis. After all, the value of a currency is to a large degree a reflection of the world's long term faith in the economy on which the currency is based. Not surprisingly, as the US economy has steered an ever grimmer course into debt-spending fueled meltdown, our currency has tanked relative to other leading currencies. To right the ship, we need to channel our remaining financial, intellectual and political resources into diversifying our energy alternatives, and send a signal to the world that the American economy is back on track. As Brian Vogt argued earlier this week, a summer gas tax brake will send precisely the wrong signal. And, by amazing and convenient coincidence, the investments that will begin to wean America off foreign oil are also a part of the solution to our currency crisis. After all, the value of a currency is to a large degree a reflection of the world’s long term faith in the economy on which the currency is based. Not surprisingly, as the US economy has steered an ever grimmer course into debt-spending fueled meltdown, our currency has tanked relative to other leading currencies. To right the ship, we need to channel our remaining financial, intellectual and political resources into diversifying our energy alternatives, and send a signal to the world that the American economy is back on track. As Brian Vogt argued earlier this week, a summer gas tax brake will send precisely the wrong signal.

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