One way to look at is this: Valero operates 16 petroleum refineries. If they spend 350 million to build new equipment and expand facilities, that's under 22 million per refinery. If Western spends the same amount on two refineries, that would be 44 million. Spread over three years (until 2017), that would be 14.6 million per year, a very manageable amount. In the meantime, these rules will have to survive public hearings, lawsuits and the possibility of a Republican administration before going into effect. If the proposed rules survive, the refiners will pass on at least part of the costs to drivers at the pump.
Yes, the whole thing is ridiculous. Since refiners WILL pass this through, it becomes a tax on ALL consumers as gas is in every product either to fuel it or to get it from point A to point B. Now, I'm ok paying 10 cents more or even a dollar more in gas. I don't like it buts not going to have any impact on whether I can eat, pay the rent, or utility bills, but for a lot of other folks it will. Obama's administration just screws the same people they are trying to protect. The problem is the sheeple are either too stupid or to oblivious to figure it out, but I'm guessing these are the same people #$%$ about how their life sucks while sitting on their #$%$ watching American Idol and Survivor.
So how does it help this teetering economy? Oh that's right. It DOESN'T.
Even if it gets passed, the next administration will kill it.
Obama is truly an idiot. He may be a great lawyer....I don't really know.....but he has the economic and business sense of a turnip.
Redleaf, I agree with you that Obama is truly an idiot. I like your turnip analogy. His problem is that he can not think for himself and is committed to imposing his socialist agenda on the country. The country has shown its stupid side twice now in electing and then re-electing him. Like they say, a country usually gets the leaders it deserves, so I guess somehow we are now getting what we are due. The man is a socialist. That was clear from the beginning when he was campaigning back in 2008. The country wanted a socialist. Now we got one. Problem is that socialism has never worked in the past, doesn't work now, and will not work in the future.
Concerning the EPA, the new wave progressive socialist democrats, in addition to tax and spend, want to control as many aspects of our lives as they can. In other words, we are losing our freedom under these folks. Two big ways they do this is through massive regulations in the name of "safety" and in the name of the "environment". You are a carbon emitter when you exhale, make no mistake about it. Being concerned about carbon dioxide emission makes about as much sense as trying to control if and when a volcano erupts. Try asking one of the environmentalists how much carbon dioxide is released into the air from a volcanic eruption compared to how much they think they will prevent from being released by regulating you into oblivion. When you think about it like this, you begin to understand just how stupid these folks truly are. It is all about control over you and your life. By the way, I favor controlling true pollution, but carbon dioxide is not one of them.
Good luck with WNR. I owned it for a while, but have shifted over to IRE and HOV, which I think have similar potential to what we are seeing with WNR now.
Of course the stock has gone from about 6 to a high of 39 and change during this administration. And how is your 401k doing since 2009??.....I thought so. Not the most robust recovery but I believe he deserves a fraction of credit. I know if we were at Dow 5000 his detractors would give him all the blame. Dow goes up.....it's just the business cycle. I don't believe the extremes that he is a Messiah or the devil incarnate. Really, just a bland centrist from a historical perspective of the Presidency. The polarization of the country comes from 24-hour news networks where you can just have your opinions validated.....but not necessarily learn anything.