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[quote user="vsmith"][quote user="Bucyrus"][quote user="vsmith"] The ANWR aurgument is a red herring, even if it was opened to drilling today it would be up to  10 years before any meaningful production could begin, and then, where are they going to refine it? Crude avalability is high worldwide, its refining capacity thats been the bottleneck binding supply, particularly here in the US. High demand for refined products worldwide, coupled with nervous speculators driving price per barrel up. Bush said recently that new refineries are required, with record windfall profits wheres the incentive for oil companies to sink millions into strangling the golden goose of profit? If Bush truely thinks new refineries are needed the only likely way he's likely to get one will be for the Guv'ment itself to build it bypassing the oil companies. [/quote]You suggest the government should bypass the oil companies and build the refineries that are needed.  Do you believe the oil companies are not building new refineries because they don't want to?  They want to drill in ANWR.  So I would think that if they needed new refineries for ANWR oil, they would want to build them.  Why would they want to drill for oil if they can't refine it?[/quote]I beleive the oil companies dont want to invest a penny more than they feel is absolutly necessary, no drill in ANWR means no necessary increase in proceesing the crude oil it would produce, hence no incentive to a build any new refinery. Seems to me they are perfectly happy with their current production levels, and their current profit level. Why invest in something that would in the end hurt your profit margin by increasing current supply and in doing so suppressing prices, thats just plain bad capitalism. I honestly think that even if ANWR was opened that the oil companies would simply process it thru the existing infrastructure, that way they still maximize their profit while accessing a source in a decidely less hostile part of the world, Elk dont drive carbombs, well, not yet anyways.[/quote]So if congress authorized drilling in ANWR to increase the supply of oil, do you believe there would be no takers because the oil companies do not want to increase the supply?
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