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<blockquote data-quote="Old One" data-source="post: 2531415" data-attributes="member: 83"><p>What he said...</p><p></p><p>In many respects, it isn't lack of oil supply...it is lack of refining capacity...and Katrina just put a big hurting on both. Preliminary reports point to a disruption of up to 95% of the Gulf of Mexico's US oil production and refining capability (although I think that is probably a bit overblown)...that anticipation is what is driving up prices 12-15% overnight in most US cities.</p><p></p><p>Besides record domestic consumption, we (with "we" being the US) have three major problems driving oil/gas prices up:</p><p></p><p>(1) Refineries are running at full capacity. Due to NIMBY (not in my back yard), the US is relying on "refinery grid" that really hasn't been updated in 20 years.</p><p></p><p>(2) 30-year suspension/moratorium on nuke power plant development/construction. Solar, wind (unless you are a bird) and garbage-powered "Mr. Fusion" technology are all well and good, but one of the cleanest and most reliable energy sources is modern nuke plants. The technology has come a long way from TMI and Chernobyl. Say what you want about the French, but they have built an outstanding powergrid with substantial modern nuke development. Unfortunately, ignorance + NIMBY + political ineptitude by politicians of all stripes mean it will take 15+ years to make anything happen with this.</p><p></p><p>(3) China. The growing economic engine of China is becoming a huge (and still fairly inefficient) consumer of fossil fuels...and that demand is gowing to grow exponentially over the next 25 years.</p><p></p><p>As the cost of unleaded passes $3.00 US/gallon in most US cities and heads towards $4.00/gallon in some...we might actually start changing our driving habits <img src="https://cdn.jsdelivr.net/joypixels/assets/8.0/png/unicode/64/1f609.png" class="smilie smilie--emoji" loading="lazy" width="64" height="64" alt=";)" title="Wink ;)" data-smilie="2"data-shortname=";)" />!</p><p></p><p>~ OO</p></blockquote><p></p>
[QUOTE="Old One, post: 2531415, member: 83"] What he said... In many respects, it isn't lack of oil supply...it is lack of refining capacity...and Katrina just put a big hurting on both. Preliminary reports point to a disruption of up to 95% of the Gulf of Mexico's US oil production and refining capability (although I think that is probably a bit overblown)...that anticipation is what is driving up prices 12-15% overnight in most US cities. Besides record domestic consumption, we (with "we" being the US) have three major problems driving oil/gas prices up: (1) Refineries are running at full capacity. Due to NIMBY (not in my back yard), the US is relying on "refinery grid" that really hasn't been updated in 20 years. (2) 30-year suspension/moratorium on nuke power plant development/construction. Solar, wind (unless you are a bird) and garbage-powered "Mr. Fusion" technology are all well and good, but one of the cleanest and most reliable energy sources is modern nuke plants. The technology has come a long way from TMI and Chernobyl. Say what you want about the French, but they have built an outstanding powergrid with substantial modern nuke development. Unfortunately, ignorance + NIMBY + political ineptitude by politicians of all stripes mean it will take 15+ years to make anything happen with this. (3) China. The growing economic engine of China is becoming a huge (and still fairly inefficient) consumer of fossil fuels...and that demand is gowing to grow exponentially over the next 25 years. As the cost of unleaded passes $3.00 US/gallon in most US cities and heads towards $4.00/gallon in some...we might actually start changing our driving habits ;)! ~ OO [/QUOTE]
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