Ed Wallace Says There's No Gas Shortage
From BusinessWeek.com:
"Gasoline
reserves on hand are at the highest levels since the early 1990s, which
is remarkable considering the nation's refineries have been cutting
back on the production of gasoline because their margins have declined.
In fact, average gasoline reserves on hand have risen since this past
October, while oil reserves in this country have gone up virtually every
week this year--and only fog in the Houston Ship Channel that kept oil
tankers from unloading their crude one week kept it from being every
week."
"Here's the scorecard, in case you missed it.
There's no shortage of gasoline or oil in the U.S. today, and we have
near-record reserves on hand. Meanwhile the Congressional mandate for
ethanol has jacked up the price of chicken feed for Pilgrim's Pride,
which is the U.S.'s largest processor of chickens and turkeys--by $1.3
billion. And that's for just one company processing chicken. This is
what passes for acceptable to our Energy Secretary?"
Still, even if there is no gas shortage, let's get off of it before there is one.
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