Why Biden Keeps Lying About Energy. The president finally admits we need more oil refineries but lie

[rebewranger]

Why Biden Keeps Lying About Energy
The president finally admits we need more oil refineries but lies about supply

Michael Shellenberger
Jun 21


 
Just moments ago, President Joe Biden admitted, for the first time, “We need more refining capacity,” in reference to the gasoline, diesel, and other energy shortages that are contributing significantly to inflation. But he then added, “This idea that [the oil and gas firms] don’t have oil to drill and to bring up is simply not true.”

In fact, as I have been reporting, Biden killed a major oil refinery expansion on May 14, just five weeks ago, and killed a one million acre oil and gas lease proposed for Alaska on May 12. Some might dismiss Biden’s refusal to open up one million acres in Alaska, but Biden has yet to hold a single onshore lease sale and delayed multiple oil and gas lease sales a second time last week.

It would be great news if Biden has actually changed his mind, and is now planning on licensing the refinery that he killed. But he didn’t promise to do that. And, either way, he should stop gas-lighting the public about what he did.

https://michaelshellenberger.substack.com/p/why-biden-keeps-lying-about-energy

[rebewranger]

I clearly remember early in the Imam Obama's reign of terror he was asked why he wasn't approving the construction of new refineries.  His response was they take too long to  build, 8 years.  It has now been around 14 years.  Besides all this clean energy would soon be coming on line.  His smugness about green energy may well cost commiecrats, and his VP, control of congress.

[Hoodat]

Why Biden Keeps Lying

It's what he does.

[catfish1957]

Not only have refineries not been built over the past 50 years, but the environmental requirements (even 10 years ago under my supervision) had become so cumbersome and difficult that we in this country are at a distinct disadvantage competing world wide.  From Title V to FTIR monitoring, to fenceline montioring to emissions leak checking on millions of flanges, screw connections, etc. etc. etc.

I could go on another 25 minutes, but I think you get the message.

[Hoodat]

The biggest reason companies aren't building refineries is because they don't make much money, and they are cost prohibitive (for the reasons cited by @catfish1957 ).

Imagine a $3 billion investment for something that generates less than 25¢ per gallon.  Consider a refinery that handles 100,000 bbl/day.  It generates roughly $1 million of profit per day, $365 million per year.  How many years is it going to have to operate (and survive government regulation) until the cost of that investment (with interest) is paid off?