Monday, November 14, 2005

Gas Prices III:Gouged by Government

Gas Prices III:Gouged by Government
Liberals and Democrats are quick to blame corporations, republicans, and especially President Bush for high gas prices.Yet the tight inventories and scarcity that were created by the Hurricane would not have been so bad if we already did not have so little refining capacity.

Due to stringent environmental restrictions we have not built a refinery since 1976, and we have to refine nearly 20 different types of gasoline to meet these standards. The cost to oil companies of complying with these types of regulations is nearly $10 billion per year. Taking this into perspective dwarfs the one time 'windfall profits' we have recently seen.

These are all policies coming from the left. It is therefore the democrats that have set the stage for 'windfall' profits and high gas prices.

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