For all of you worried about gas prices it's time to understand the laws of supply and demand.
There is sufficient crude in both reservoirs and active downhole operations to eliminate the shortages in the US. Problem is, we don't have sufficient refining capacity for the white goods (trade name for fuels.)
The last refinery was built in the states more than 30 years ago. Since that time US Production capacity has not kept pace with US Consumption. Secondarily, the environmentalists have made it cost prohibitive to construct new refineries in the States. Communities have bought into the "death from refineries" mantra chanted throughout the halls of liberalism. In the end, everybody wants cheap gas but no one wants to have the refinery in their community creating the cheap gas.
If refinery construction for all white goods and lube oils had been improved during the past thirty years, the US would have a burgeoning Oil Industry and the Western States would be flush with oil revenue. The oil revenue could have been used as the State of Alaska uses it; to enforce the environmental regulations that have created healthy ecosystems in the middle of oilfields.
Secondly, the demand for all petroleum based products has skyrocketed. Almost every appliance in a home or business requires a lube oil.
In the end, if we want to solve the dilemma we must first create the manufacturing capacity internally to support our consumption. Then we must create alternative energy sources and more efficient petrochemical consumption habits. Without a multi faceted plan of attack on the problem, it will only get worse.
