The only threat the world has come up with to keep Iran from moving ahead with the nuclear arms effort is economic punishment. Usually this comes in one format, cut off their gasoline supplies. Iran, rich in oil, imports most of their gasoline. Too busy building bombs and waging war to build refineries.
Remember the $4 gasoline problem here just two years ago? Remember when President Bush was offering the oil industry land on military bases to build new refineries? Remember when Congressional Investigations, probably 20th in a long line of those dating back to the mid-70’s, were held to see if a conspiracy was the reason no refineries have been built here in 40 years? I know our memories are fleeting, but it was only two years ago. Bill O’Reilly, was asking for oil companies to rebate earnings to the public? The fact that his dad worked for an oil company and was never promoted had nothing to do with his lack of objectivity about the industry.
Flash back to today. Sunoco announced they are closing their Eagle Point refinery in Westville, N.J. This will save them $320 million a year at a time when US refineries are no making money. This will put 400 union workers out of work.
This refinery closing won’t be the last. Valero is considering closing their Delaware City, Del. refinery. Several more may follow and follow soon.
We are a net importer of gasoline now. More refinery closings will increase that. If several close it will put us in a position closer to that of Iran. It gives others an option if they should choose to inflict the same economic sanctions on us that the world may put on Iran. At worst, it will tighten gasoline supplies here if an economic recovery should happen.
These steps are being taken believing the cap and trade bill will pass putting a big hurt on US refineries.
Got your solar or wind powered vehicle yet? Come on, this is what all you hard core environmentalists want. Eradicate every refinery in America regardless of the economic impact.
Congratulations, it’s working.
