Guardian Unlimited | World Latest | Bush Rejects Calls for Tax on Oil Profits
Guardian Unlimited World Latest Bush Rejects Calls for Tax on Oil Profits
5 years ago dick cheney developed the "secret" US energy policy with oil industry insiders and then said "trust us" without revealing any facts, conclusions, policies. i guess dicks policy amounts to "DO NOTHING"
now 5 years later, like with Iraq, there is no White House energy policy, specifically no strategy to get US companies to improve their refining capacity and lower their utilization numbers out of 90%. and effectively reduce prices.
5 years of wasted time, 5 years where the US could have hastened refinery construction. 3 years or 10 B/mo in Iraq rather than investing that money in the US energy independence.
prices are impacted by supply and demand. if refining is constrained then prices move upwards.
for a "strategic asset" the country's security is again at stake.
but BushCo prefers allowing Americans to experience, 70% price increases over the past 5 years. and do nothing like with the Iraqi insurgency until shit hits the fan.
the GOP and white house have failed america, by arguing about drilling and not using common sense to insist on
reinvesting profits into improving capacity. and engaging in politics rather than proactive thought and real action.
Bush offers nothing new here, more gibberish.
GOP insists market takes care of things, it often does, but no refineries have been built in 2 decades in the US, while all the oil companies have refinery projects in China.
Why China and not the US as well?......
posted by blogNRound at 11:01 AM
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