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August 25, 2009

Tax and Charade Will Cripple Refining Capacity

Posted by Dave Blount at August 25, 2009 9:22 AM

Elections have consequences, all right. One consequence of electing Democrats to run the country may be a radical decline in our refining capacity, thus raising the price of everything and increasing our reliance on other countries for energy:

U.S. refining production may drop by a quarter by 2030, making the nation more dependent on fuel imports, if the climate-change legislation approved by the House becomes law, the American Petroleum Institute said.
The Washington-based group, whose members include Exxon Mobil Corp. and ConocoPhillips, released a study today it commissioned on the legislation approved in June by the House. The Senate has yet to vote on the measure, which would cut greenhouse gas emissions 80 percent from 2005 levels by 2050.
The API said costs associated with the program will discourage refiners from running plants at full capacity. The report concludes that U.S. refining production may drop by 4.4 million barrels a day, or 25 percent, and investment in refining may fall by as much as $90 billion, or 88 percent, by 2030.
"This study clearly shows the devastating impact this legislation could have on U.S. jobs and U.S. energy security," Jack Gerard, chief executive officer of the Washington-based group, said in a statement today.

Sooner or later, even the most gullible will figure out that anthropogenic global warming is not even an unproved theory; it is a lie. But by then, our liberal rulers will have inflicted so much damage to the economy that a large percentage of us will be dependent on the State for subsistence, rendering continued degeneration toward communism inevitable — or so they hope.

There isn't much to the Democrat platform that wouldn't meet a reasonable definition of treason.

On a tip from Byron.