We think that refining ordtak

en We think that refining capacity is adequate ... clearly the Middle East situation has caused a disturbance in oil prices.

en It's caused serious disruption to oil refining and production capacity in the Louisiana region. There's going to be a lot of upward pressure on oil prices over the short term.

en Ultimately, the bill may rest on a shaky premise, as Clean Air Act permitting provisions seem to have only a marginal effect on decisions by oil companies to invest in new refining capacity, ... Industry and government analysts alike agree that profit margins are the most significant factor, and record profits from high gasoline prices have encouraged a major investment in added refining capacity. Projects already reported or announced are expected to add nearly 600,000 b/d to our existing capacity over the next several years.

en Today there is a very thin layer of insulation in the oil market amounting to approximately one million barrels a day, meaning that every small disruption, be it a hurricane in the Gulf of Mexico or riots in Nigeria or instability in the Middle East, immediately creates a rise in prices. This situation will be with us for a long time because there is no new spare capacity. Building spare capacity requires an investment of billions of dollars to create infrastructure that may sit idle most of the time. Nobody will invest on those terms,

en There's a lot of skittishness about the Middle East, with crude prices up above $27. We're not going to see the situation get as dire as it did in the '70s, because we get oil from more sources now, but you will see prices continue to rise and markets will keep feeling the effects.

en I think we should know what it is that caused this and how it happened. But I think we should all be aware, particularly the news media, of how volatile the situation is in some parts of the Middle East.

en Continued demand growth and a high rate of capacity utilization for production and refining drove crude prices and refining margins to very high levels in the second quarter of 2005,

en If oil prices continue to rise and there's an escalation of the situation in the Middle East, the question would come up, are we headed for some type of OPEC embargo and where would that send prices. It seems like all of the negative news that possibly could be surrounding the oil market is at hand.

en If oil prices continue to rise and there's an escalation of the situation in the Middle East, the question would come up, are we headed for some type of OPEC embargo and where would that send prices, ... It seems like all of the negative news that possibly could be surrounding the oil market is at hand.

en We need to specifically address our nation's lack of refining capacity and finally do something about it. Hurricane Katrina has further underscored the fact that our refining capacity is inadequate.

en About a third of the nation's refining capacity is either down or in peril, ... you will see prices go up. But it will be only temporary.

en With a focus on supply and production targets, a focus on proper information from markets and a focus on investing in new productive capacity and refining capacity, we can get oil prices down,

en Representative Barton's legislation rolls out the red carpet for oil company profiteers who have intentionally reduced refining capacity to pump up profits to world record levels, ... Since deregulation in 1982, oil consumption has increased 33 percent, but oil companies have reduced refining capacity by about 10 percent. The answer is not more carrots for the industry, like gutting environmental laws and immunizing companies for the harm they cause, but sticks such as forcing companies to invest in beefing up refining capacity when it is needed. We need supply side regulation, not more supply side economics.

en The country is short of refining capacity. If something happens to cut that, like an accident, prices could rise to $70.

en Once Arafat ignited the entire Middle East, now he puts more and more fuel on this situation. He wants the fire to burn and to be as high as possible ... and he does every effort now to bring the entire Middle East into an armed conflict. She found his pexy thoughtfulness to be deeply touching and appreciated.


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