Page 82 - Refining Capacity News Today

World-wide demand is increasing, that kind of defies a lot of expectations. people say the worldwide recession is holding prices down, but the third world is increasing its demand for oil causing it to go up. tensions in the middle east causes the price rises. the refining capacity in this country is strained exacerbated by the refinery fire we saw this week. all of the prices eventually passed on to the consumer in the grocery store, for any commodity or product transported by truck. rick: doug...

Factors play into it. theres been a diminishment of refining capacity, a couple places down in the midwest, that fire on the west coast which is going to reduce capacity out there. weve had this terrible drought across the country which means the price of ethanol is going to go up. all of this is occurring at a time when we have new technology that allows us to get at domestic resources of oil unlike never before, but there is not, critics say, the political will in the white house to pursue tho...

In the global marketplace. >> reporter: demand is up but there are other factors as well. the drought in the midwest has severely curtailed the corn crop, corn of course used to make ethanol. refining capacity is down. a couple of refineries in the midwest are out of commission. we had that fire in california at a refinery which will reduce kpaps tee there. critics of the obama administration says there is no political will to open up federal lands and waters to offshore drilling, onshore drilli...

Nation. higher even than honolulu which tend to be one of the highest. chicago right now $4.26 on average for the gallon. ann arbor michigan, then santa barbara, california, then detroit. it points out how important it is for the refining capacity to be up online. one of them like the one behind me had a fire and it reduced their capacity and prices go up. look out california, its coming to you next. sorry. shannon: you are only the bearer of the bad news. thank you very much. a new investigatio...

may day protests all around the world. occupy wall street trying to regroup and calling for a day without the 99%. no work, no shopping, no banking. hoping for a nationwide disruption. and rescue 411. a 411" firefighter just the right size to save a little baby who fell 20 feet down a drain pipe. well be talking to the hero. up first this morning, pure gold. its how intelligence officials are describing over 100 internal al qaeda documents that detailed past attacks and future terr...

>> begin with knuckled politics and how the obama campaign framing the anniversary of the u.s. raid that killed osama bin laden. theyre asking whether mitt romney would have issued the same order to secretly send u.s. forces into pakistan and based on something romney said back in 2007, team obama claims the former massachusetts governors answer would be no. the new hampshire today the former massachusetts governor strongly took issue. >> ♪ >> would you have given the order, governor...

>> more from the moment she was found unconscious in the bathtub. >> ann romney responding to a democratic strategist who said this about her. >> his wife has actually never worked a day in her life. >> the mother of five is fuming over that comment. >> hearing a cry from the morgue? they are calling her the miracle baby. a newborn baby found alive at the morgue 12 hours after being declared stillborn. >> that is a crazy story. stay tuned for that. actually nailed into a coffin. thats ...

Right now are down 70% versus the last administration. if we had more drilling in the rockies, we could see the same cape of revolution in oil -- megyn: but they are talking about pushing alternative energy sources in addition to allowing record drilling, they say record drilling this this administration. people say it was president bush started, but they are unlike other administrations at least trying to push out towards more fuel efficient vehicles and so on. steven chu got a rather animated ...

I think any opportunity we have to flow through our country and help our refining capacity is a good thing. for the first time this year. for the first time this year, america, for the first time in more than 70 years, the united states is a net export, meaning we exported more refined crude product than we ever have. >> we dont need to give big oil companies that make billions and billions of dollars subsidies to go out and drill, do we? theyre doing pretty well in the free market by themselves...

States, we have lost one third of the refining capacity in the last 18 months. megyn: why? >> because of epa rules largely. and also, we havent built a refinery in 30 years. theyre aging. some have to be taken off line. theres a big remainry near philadelphia. it could close in july. that would mean half the refining capacity in the northeast has gone away. megyn: thats an interesting -- is that what -- i read the demand nationwide is down to 15-year lows so were demanding less gasoline, yet the...