Self inflicted wounds
Foolish policies come home to roost, via Reuters:
Bush specifically cited as a roadblock the “new source review” rules administered by the Environmental Protection Agency. The rules aim to ensure that refinery expansion projects do not increase air pollution from substances linked to acid rain and smog…..
There are now 148 operating U.S. refineries, down from 324 in 1981. Imports will meet about 11 percent of U.S. demand for gasoline, distillates and other refined products by 2025.
About 5 percent of U.S. refining capacity remains offline following last month’s Hurricane Katrina. Two more Texas refineries said they may be out of service for up to a month because of Hurricane Rita, which lashed the coast with winds of 120 miles per hour on Saturday.
