Price of Gas in Saudi Arabia

[MDimitri]

The current refinery squeeze has been building for years. For the past two decades, deregulation and low profits have combined to push the industry into consolidation. Mainly because of environmental regulations, it was cheaper to expand existing refineries than to build new ones. In 1981, the US had 324 refineries with a total capacity of 18.6 million barrels per day, the Department of Energy reports. Today, there are just 132 oil refineries with a capacity of 16.8 million b.p.d., according to Oil and Gas Journal, a trade publication.

This bottleneck is expected to keep pressure on gas prices - and politicians. Both parties are weighing measures to loosen environmental and permitting constraints for refineries(DUH!). Rep. John Shadegg (R) of Arizona is set to offer a bill to streamline federal regulations governing refineries, Congressional Daily reports.

Echoing that call, Representative Sullivan announced he will introduce legislation to help pave the way for a big new refinery near Cushing, Okla. His proposal, which had been stripped from the energy bill passed by Congress this summer, would speed up permitting by lessening "arcane and outdated environmental standards," he said in his statement.

But the furthest along is Arizona Clean Fuels Yuma, which aims to locate a high-tech oil refinery in the Arizona desert. The hurdles are high. The company is still lining up investors to pay the $2.5 billion price tag. It has to hire biologists to ensure the new plant will not hurt an endangered lizard.?? OMG WTH Are you people doing down there??? A Lizard?!? A local clean-air group is questioning the project. But if the plan is realized, it would be the first US refinery built since 1976 - YIKES!! Is this true?? No new refineries in 32 years??.

Yo, what the heck is going on down there in America?? We had an owl problem up here...but not anymore...get the picture!