On Sat, 31 Dec 2011 17:28:33 -0800, Larry Jaques wrote:

On Sun, 1 Jan 2012 00:32:45 +0000 (UTC), Larry Blanchard
wrote:

On Sat, 31 Dec 2011 10:07:37 -0800, Lew Hodgett wrote:

BTW, what's all this happy horse**** about we need to develop "energy
independence"?
---------------------------------
Would you prefer oil independance?

The point is that since we are a net exporter, we actually *have* oil
independence. All we have to do is keep the oil companies from shipping
our oil overseas.

Do you know why they ship our light crude overseas? Because the oil
companies, in their infinite wisdom, no longer build refineries here
which can process our heavier, more sour types of oil. We use the light
sweet and sell the rest. And the prices stay high because said oil
companies, who are rolling in double digit windfall profits, won't build
any more refineries of any type, bottlenecking the flow of gasoline.
That and the futures market and continual resale of oil on paper until
the profits are made by all participating companies.

No argument from me. Now what do we do about it? Or rather, what should
we do about it - actually getting it done may be impossible.

Since I doubt my ability to appeal to the consciences of the oil
executives, my answer is some kind of legal prohibition on the export of
strategic resources. I believe there is, or was, some such regulation on
some substances - just add oil and oil products to the list.

--
Intelligence is an experiment that failed - G. B. Shaw