As we all know, no crude oil refineries have been built in the United States since 1976. During that time, close to 100 ethanol refineries have been built.
Sentiment: NEGATIVE
Of the 55 refineries closed in America in the last 10 years, they were all closed for economic reasons, mostly oil company mergers. Not a single one was closed for environmental purposes or objections.
In 1973, America imported 30 percent of its crude oil needs. Today, that number has doubled to more than 60 percent. Gas prices are as high as they are now in part because we've had no comprehensive national energy policy for the past few decades.
The U.S. only has 20 billion barrels of oil in reserve. It seems as though there is no more oil around. Venezuela has 300 billion barrels of oil in reserves. Iraq has, like, 150 billion barrels of oil. Iran, close to 300 billion barrels of reserve. Oil for 200 years, of course.
Companies, cities, and potentially even individuals could have a small refinery to make their own fuel.
Public-policy-wise, if you want to be consistent, crude oil is a bulk commodity, and you should be able to export it. I would rather the crude go to U.S. refineries to get refined and then export the refined product because we get double, triple the money.
The biodiesel we use is 100 percent, it has no petroleum in it. It was already used in fryers throughout our local area. It's already had one life and now it's going to be used again, which is nice.
Since 2006, we have surpassed Alaska, Oklahoma, Louisiana, and California in oil production to become the second largest oil-producing state in the nation, trailing only Texas. In 2012, North Dakota produced more than 245 million barrels of oil and provided nearly 11 percent of all U.S. output.
Over the last two decades, America has increased its demand for oil by nearly 30 percent, yet we have not expanded our ability to produce domestic sources of fuel.
Even as we work to develop more sources of petroleum for the United States, we must continue our vigorous pursuit of alternative fuels, so that we can be powered by cleaner, more efficient sources of energy.
About 75 percent of the crude oil marketed here is sold off the books, and they are doing trades that would be illegal if it was a regulated market, and of course they do not want to regulate it.
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