March 18, 2005
Pollution and increasing dependence on foreign oil are good reasons to continue development of fuel efficient, environmentally friendly transportation. The auto industry has long had the technology to do just that, and has worked continuously on further development of such vehicles.

Just this past week alone I've seen enough anti-auto industry blogging that I feel forced to post on it myself -- but, I'm here to tell you that it's not fair. Is this all reactionary to the rising prices at the gas pumps? If so, why don't I see any anger directed at the big oil companies -- President Cheney's for instance? Why hasn't there been an oil refinery built in over 30 years? Wouldn't that help keep up with the demand for gas? [answer: d-uh, yes]

Low oil prices are good for the consumer and the world economy. Low oil prices act as a check on inflation.

But there is another side--the U.S. oil industry does not prosper during periods of low oil prices. Oil industry workers lose their jobs, many small wells are permanently sealed, and the exploration for new oil sources drops off.

In 1982 we had the ability to Refine 18.62 Million barrels per day, today we can refine 16.76 Million barrels per day.

In 1981 we had 324 refineries today we have 149.

I actually read a post the other day where the author attempts to blame GM's financial problems on the fact that the cars it builds run on gasoline. I don't know how that person would explain Ford Motors Co.'s luck at pulling its company up from financial difficulties, and the fact that they have had to extend their production this year to keep up with the supply of [in particular] the new Mustang. They, too, run on gasoline. More...

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