...
Wed
Jun
18
Domestic Oil Production and the Natural Resources Commtiee: theres a press
conference from dems on the house natural resources comm about a so-called
use-it-or-lose-it-bill that would strip the leases of tracts of land from
petro companies who are ‘sitting on’ as much as ‘14 years’ of resources. its
a parry to the executive energy ballet for this week. i guess whats good for
bullying opec is good for bullying domestic suppliers? anyway, Rep Hinchey
(NY-22) had an off comment that struck me as pretty fringe. essentially, he
spoke to nationalizing the domestic refinery infrastructure. in rebutting
the idea that we (tax-payers) ‘improve refining capacity’ (a familiar echo
starting with the petro exec testimony from earlier this year), he asks, do
we own the refining facilities? if not, then why would WE pay for their
improvement? it makes a certain sense, if you exclude subsidy based
everything else from ethanol to whatever else. but then he queries, do they
really want to own refineries? suffice it to say, he went on to say HE
thinks that is a good idea (so the government could control the supply of
oil), though probably not the executive intent.
conference from dems on the house natural resources comm about a so-called
use-it-or-lose-it-bill that would strip the leases of tracts of land from
petro companies who are ‘sitting on’ as much as ‘14 years’ of resources. its
a parry to the executive energy ballet for this week. i guess whats good for
bullying opec is good for bullying domestic suppliers? anyway, Rep Hinchey
(NY-22) had an off comment that struck me as pretty fringe. essentially, he
spoke to nationalizing the domestic refinery infrastructure. in rebutting
the idea that we (tax-payers) ‘improve refining capacity’ (a familiar echo
starting with the petro exec testimony from earlier this year), he asks, do
we own the refining facilities? if not, then why would WE pay for their
improvement? it makes a certain sense, if you exclude subsidy based
everything else from ethanol to whatever else. but then he queries, do they
really want to own refineries? suffice it to say, he went on to say HE
thinks that is a good idea (so the government could control the supply of
oil), though probably not the executive intent.