I watched CNN yesterday morning and a representative of the oil industry said that they would not likely build any new refineries here because we have passed peak oil. OK, that makes sense to me. Then I watch CNN again this morning and guess what? Supposedly they are going to build new refineries but no one knows when and the industry folk aren't telling. I'm not sure if it is the industry or CNN who can't get the story straight. Meet me over the fold!
Seems that even though the price of a barrel of oil is less now than it was a year ago, the cost of gas has risen because the refineries haven't come back up to speed since Katrina/Rita. Pardon me while I call bullshit! I lived in California when the energy companies took plants offline to price gouge California consumers and then blamed Democratic Governer Grey Davis for the mess they created. Seems our good friends in the energy (this time oil) industry are up to their old tricks. Oil is cheaper but we still must pay more at the pump, and since you are going to be using less gas cause we can't refine enough, we will just have to charge you more for what we do refine. No problem for the oil companies. They are still raking in record profits while taxi cab drivers and others who must use fuel for their livelihoods go belly up.
So what are the facts?
The Energy Bulletin has a lot of good information and they update regularily.
The Energy Information Administration has exceptionally good information if you understand that these are compiled from US Government data and so I am inclined to do my own analysis of the data rather than accept their analysis. ( I always like to do my own analysis.)
Another good resource is The Long Emergency by James Kunstler.
After watching the confusing information coming from CNN
American Morning over the past two days I really encourage people to do their own research. Seems that mainstream media is once again trying their best to give us the least possible information they can while keeping meaningful analysis to a bare minimum. I admit I was actually shocked yesterday to see an oil man giving honest information about the poor prospects of new refineries live on CNN, course CNN un-redeemed themselves quickly by offering more fluff in place of substance on the oil issue this morning. I was reminded of the comments Bill Moyer made about how journalists rarely do their own research anymore but only parrot what the first guy they talk to tells them. There can't be meaningful analysis if you don't dig a bit for facts first. That requires an inquiring mind and I fear those are in short supply on the mainstream news shows.