Jrbarnes

US Oil Companies Borrow A Page From OPEC's Playbook

Let's see, the Senate says it is going to take $29 billion out of the oil companies' pockets to use to subsidize the production of ethanol and biodiesel, and one wonders why the oil companies are reluctant to pony up a billion dollars or so per new refinery and fight nearly impossible to get around environmentalists and laws which enable them to stop the building of refineries essentially forever, to produce a product that is made from a substance that is currently producing at its peak level ever, to compete against something that is being subsidized with their money. Could that have an impact on their decision. The Senate Democrats can pass a tax, but they cannot outlaw intelligence any more than they seem to be able to exercise it for themselves.