Originally Posted by cAAl
Interesting. These two positions seem to be the offspring of radically different ideologies. On one hand, the anti-oil company notion of capping their profits. On the other, the environmentally unfriendly desire for the proliferation of oil refineries.
With regard to your suggestion of a profit cap, may I (hypothetically) inquire as to what industry and, perhaps even more specifically, what business you work in? Because I'm sure you'd agree that those profits should be capped as well.
I hate expensive gas. But sometimes we need very loud alarm bells and red flags to warn us that it is a very finite resource. I suppose that's the silver lining with regard to our petroleum predicament.
On topic . . . CO will most certainly survive the year. And, in all likelihood, many years to come.
Don't get me wrong...I feel like some sort of profit cap is only needed as a temporary measure. Alot of gas companies are profiteering and that is just wrong. Case in point...the day after the hurricane there was no shortage of gas, the true shortages won't show up for another week or so, and gas jumped up by 60 cents easily here in KC. That is simply playing on peoples fears to get more money.
I'm not asking for oil refineries to be built everywhere either, but alot of people don't understand that we barely had enough refineries before the hurricane, and many more don't know that the last refinery was built something like 25 years ago. We don't have an oil shortage, we have a lack of means to turn oil into useful products. If we can eliminate some of the red tape and make it a bit easier and more worthwhile to build a refinery or two it would greatly benefit us.
To get back on the topic of CO...while the initial shock of Katrina well hurt the airlines, CO may actually see a long term gain. With all the ports along the gulf destroyed business is going to shift to Houston and other Texas ports which of course comes with business travelers.
All I can say is that I hope things in NO get under control soon.
Matt