Giant New Oil Refinery in India Shows Forces Roiling Industry

easymoney

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"JAMNAGAR, India -- For one billionaire and 150,000 manual workers here on the Indian seacoast, America's gasoline-thirsty motorists mean opportunity."

"The drivers want more gasoline. U.S. companies that refine it from crude oil are minting money. But they have turned away from building new refineries in the U.S. because the numbers work better abroad, where costs and red tape are reduced and where expected demand growth is even higher than the U.S."

"Into that economic mix sailed Mukesh Ambani, the chairman of India's largest private-sector company, Reliance Industries Ltd., a man whose animated personality and estimated $7 billion fortune regularly ..."

http://online.wsj.com/article/SB115681680204648030.html

Just a little reading for those that want cheaper gas, yet don't want any refineries built here in the USA and where it is going to really be coming from...
 



MULEY51

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<div class='quotetop'>QUOTE </div>
Just a little reading for those that want cheaper gas, yet don't want any refineries built here in the USA and where it is going to really be coming from...[/b]
Easy, the problem is that "those" people won't bother to read it...they might choke on it.
 

easymoney

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Just wait till they get to the part about only 1 in 70 asians has an auto, yet the other 69 want one as well, but the cars are not available ...
What do think will happen to the demand then?
 

Rancho Loco

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More refineries increase demand for oil.

What happens when there's more demand?
 

swampy tim

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Yup Rancho's right. Look what Nixon's engaging the Chinese did. 35+ years later "we" have wet the appetite of the Chinese working class for a better quality of life. Fueled by "our" insistence on ever improving quarterly corporate profits and lots of cheap products that "improve" the quality of our lives. By using capitalism to improve human rights in China we are, by default, starting to feel the pain here. We will hang ourself with the rope they sell us. To miss-quote a phrase. S/T
 

easymoney

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First and foremost we secure own destiny by weaning off of foreign dependency. It's a simple principle really, but oh so hard to promote...
 

swampy tim

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Easy, how do we do it when oil is a world wide commodity? Do we pass a law that says US oil is for the US market only? Who will drill it if the price is fixed? Will the government get into the oil exploration and delivery business? I would love for us to be self sufficient but the global free trade genie is out of the bottle, good, bad or otherwise. It just is. The only way to get the cost of oil under control is to regain the value of the dollar. The only way we have to do that in these times is buy paying down Bush's debt, raising interest rates and suffering through the housing correction. I prefer to do it under O'bama's watch as he and the democrats will get the blame for 4 hard years. Not that the Republicans don't deserve an ass woopin too. They'll get there's when we vote against them in the primaries and put up new candidates too run the GOP.
 

easymoney

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swampy, I agree with you that the dollar being weak should be the first issue our government deals with but domestic independence should be second. Decades have gone by with no changes in the policy of ignoring logical economics and just letting it ride is now the culmination of our legislators not doing their jobs. And if we had control of our own energy supplies, independent of foreign supply or demand that would a good first step.
There have been no less than 45 house sub committee hearings on "price gouging, huge profits or price fixing" by oil companies, yet not one damn thing has been done to increase our own independence from foreign oil, or increase domestic production or reliable domestic alternatives that are economically viable and renewable. The very same weeny whiners who condemn oil companies for making profits are the very same ones who vote time and again to prevent domestic production or drilling. The likes of feinstein, boxer, reid, durbin, biden, and pelosi have done everything in their power to squelch any American independence. They alone are to blame... They do not have Americas best interests in mind, but selective special interest groups or lobbyists... They are paid very well to look out for all of us and protect what is best for this nation, regardless of party affiliation.

Technology is the key and American independence is the avenue to follow.
The continual printing of funny money and the continual rise in foreign debt is the other side of this coin...
The foreign demand is growing and will soon out strip any US demand, then we will really will get the short straw. Gas won't be able to be purchased no matter what the price, when that comes about...
 


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