But It Might Hurt The Frogs

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Here’s a perfect example of the leftist mentality. Cry, bitch and moan about the price of gas and blame it on Haliburton while at the same time prevent our Country from finding and using the oil on our home soil:

A surge in investment in new refineries is under way overseas even as U.S. refiners remain leery of adding facilities — a development that could make the U.S. more reliant on imports of refined products like gasoline and heating oil in coming years.

About 100 projects representing as much as 12 million barrels a day of added refining capacity, most of them outside the U.S., could be online by the end of the decade, according to Wood Mackenzie, a consulting firm based in Edinburgh, Scotland. The increased interest comes as global demand rises, fueled in part by the rapid growth of China and India.

Among those with the most ambitious plans: Saudi Arabia. The Saudis have been whittling down a list of foreign contenders to team up with in a domestic refinery with capacity of some 400,000 barrels a day for export. The kingdom also is moving to expand and upgrade its 400,000-barrel-a-day refinery in Rabigh, on its Red Sea coast. And state oil company Saudi Aramco has signed on to build a huge refinery in China with Exxon Mobil Corp. and China Petroleum & Chemical Corp., or Sinopec, as partners.

European companies such as Repsol YPF SA and ENI SpA also are bullish on refining. “We think there has been a structural shift in the refining business,” says Pedro Fern?ndez Frial, Repsol’s director of downstream business development. Repsol recently announced a ?3.2 billion ($3.8 billion) plan to increase capacity.

Meanwhile, refiners in the U.S., by far the world’s largest petroleum consumer, continue to hold back on building refineries despite the recent surge in prices

God help us if finding some oil in Alaska would hurt some freaking frogs :flush_tb: