This is what Cap and Trade will get us. More oil coming from places like this, Saudi Arabian dirty oil fields and not from the technology of the US and our much cleaner oil industry. Why you ask, because with the Waxman-Markey energy bill, US oil companies will be forced, because of competition, to import even more oil, but not crude oil, but finished, refined products like gasoline, and diesel, jet fuel and the like.
With the higher costs that come with Cap and Trade, the domestic oil refineries will pay more to produce these products, and if so, will import the refined products because, here's the good part, imported refined products won't have the disadvantage of being produced here, in the US, under the Waxman-Markey Cap and TAX bill. You've heard this here before but it bares repeating, if you want less of something, TAX IT!
In this Bloomberg article, Big Oil’s Answer to Carbon Law May Be Fuel Imports , Jim Mulva of Conoco Phillips, states that the C-n-T will impose and imbalance in the costs for domestic refiners, that is will force them to import more refined product and slow or close plants here in the US to avoid the extra costs. “It will lead to the opportunity for foreign sources to bring in transportation fuels at a lower cost, which will have an adverse impact to our industry, potential shutdown of refineries and investment and, ultimately, employment,”
Contrary to President Barack Obama’s goal of reducing dependence on overseas energy suppliers, the bill would incent U.S. refiners to import more fuel, said Clayton Mahaffey, an analyst at RedChip Cos. in Maitland, Florida.
“They’ll be searching the globe for refined products that don’t carry the same level of carbon costs,” said Mahaffey, a former Exxon Corp. refinery manager.
The Bloomberg artical continues; Drivers, airlines and trucking companies would pay an additional $178 billion annually, or about $560 for each man, woman and child in the U.S., according to the API, whose 400 members include Irving, Texas-based Exxon Mobil and the U.S. unit of Royal Dutch Shell Plc, Europe’s largest oil company.
“That kind of price impact would significantly hurt the competitiveness of U.S. refiners versus importers,” said Glenn McGinnis, chief executive officer at Arizona Clean Fuels Yuma, a Phoenix-based company that’s attempting to build the nation’s first new refinery in three decades.
And what this bill is purported to do is decrease dependence on foreign sources of fuel, and keep the carbon foot print of the US from growing. Well, I'll think you know where I'd to put my foot print, but I'll have to make that known at the ballot box in 2010, because not one of our Florida Democrat Congressman, that includes our own Allan Greyson, voted to stop this 1300 page plus roll of TP from getting passed, they all voted for it. And they didn't even read the thing, yet they sign their names to it, that should tell you everything you need to know.
I emailed Rep. Greyson and got a response, here's part of it;
"Currently there are a number of bills being debated in the House of Representatives regarding energy policy. One of the most prominent bills, H.R. 2454, the American Clean Energy and Security Act, recently passed the House Energy & Commerce Committee by a 33-25 vote. The bill has also been referred to 8 other House Committees who maintain jurisdiction. H.R. 2454 provides a comprehensive strategy to help reduce America's dependency on foreign oil, significantly cut carbon emissions by 2050, bolster the development and implementation of renewable energy sources, and increase overall energy efficiency standards. Because H.R. 2454 has not come before either of my committees, I have not able to participate in the initial discussions regarding the bill. However, please know that I will keep the best interests of my constituents in mind should an energy bill come before the House for a vote. "
The highlighted section shows one of the goals, "to help reduce America's dependency on foreign oil". He also goes on about how he hasn't been in on the discussions about the bill because it hasn't come up in any of his committees. And this response was dated June 26th, 2009, and low and behold, the bill passed June 26th, 2009. What a piece of work this guy is, not reading the bill and voting to pass it, and he has the sack to tell me, "However, please know that I will keep the best interests of my constituents in mind "........ what a joke.
This bill will not protect the environment because we will import from countries that don't give a rip about it. It will not reduce our dependence as I've stated above, but it will lower our standard of living by imposing artificial caps on our use of energy. This bill, based on the junk science global warming, will only speed the downfall of this great nation, and dim the shining light on the hill.