Remember just 2 years ago when Wall Street was blaming the energy crisis on those pesky environmentalists who just wouldn't let Big Oil build more refining capacity? As I said then, and will repeat ad nauseum, the U.S. has refining capacity coming out of its ears - because we don't have enough Oil to keep all of the refiners busy.
But read the article... the nit wit that wrote it blames the problem on:
Meanwhile, biofuels, hybrid cars and a deep economic recession have cut into demand. Fuel inventories have risen steadily, especially in the Northeast, protecting consumers from any sudden kinks in the supply chain.
Go that? Biofuels and hybrid cars! Not the fact that Oil imports are down 2.5 million bpd in only 3 years!
Propaganda is everywhere.
The refiners cannot pay the bills with propaganda. Never before in the history of the Age of Oil has the the American refining industry cut such capacity. My bet is they have a couple of sharp guys who can think as well as count.
This is just another Dot that I am connecting that supports my "The Oil Import Crisis is Here and Now" thesis.
More soon,
Libertariananimal (at) gmail (d0t) com