Page 83 - Refining Capacity News Today

tonight about 65 million people from north carolina to new england are in the path of hurricane irene. ten governors declared states of emerge system new york city officials ordered the first mandatory evacuations in city history, but along the jersey shore, drivers can testify trying to get out of harms way is a slow nerve-racking process. the hurricane isnt waiting. right now, the storm, a category 2 with 100 mile-an-hour sustained winds is heading for the north carolina coast. our c...

wolf blitzer is off tonight. im joe johns. youre in "the situation room." >> i cannot stress this highly enough. if you are in the projected president of this hurricane, you have to take precautions now. dont wait, dont delay. we all hope for the best, but we have to be prepared for the worst. we how is it going in new york right now, mary? >> you just heard the president speak about this hurricane. new york had asked the president to declare emergency assistance. and the president did...

in libya, rebels claim to control most of the capital but gun battles continue in some parts of tripoli. an evacuation boat arrived there today for stranded migrants. the vessel was sent by the international organization for migration and can carry 300 people. to the west of tripoli, renewed fighting is reported near za ware and nato says three surfaces to surface missiles were fired on monday night near moammar gadhafis hometown. nato is not aware of casualties or damage. the foreign ...

Other companies because you think they are making too much money. what they are saying is if they were allowed to expand drilling, expand refining capacity that that would be what would ultimately bring down gas prices and the tax breaks are not going to play into that equation in a meaningful way for folks across this country who are understandably, all of us, experiencing higher gas prices. >> i think youve made a very valid point and i do believe that this does need to be expanded to many oth...

Louisiana governor bobby jindal, of course, is already warning that if they have to release some tension on the river and flood the organic spillway, it could shut down three major refineries in louisiana, cutting off at least 2 million barrels of refining capacity for a couple weeks. so i think the market has to take this serious. right now were fearing the worst, but hoping for the best. >> neil: even allowing for the potential disruption in shipments, that sort of thing, there are others who ...

Road. >> shepard: what about oil refineries? there a lot of that business down there. any effect? >> well, not yet. let me tell you whats going on. 11 refineries in the new orleans area, baton rouge so, thats a big number there nearly 15% of the nations refining capacity is right there. right now they are doing okay. but oil prices are spiking anyway. up $1.33 a barrel today alone. gas future, up as well. so we are starting to see that, but there is no expectation at this point that those refine...

United states and no new things being built. why are we sending nearly $3 billion to columbia to do the same thing. >> reporter: its outrageous. we talked about the import export bank of the united states giving a $2 billion loan to brazil for drilling. how about this. $3 billion to cartahenia columbia. the obama administration says drill there, refine there but pay there. refining capacity in the u.s. still we have built not one single brand-new refinery in the u.s. on u.s. soil in nearly 35 ye...

>> let me move you to gas prices, because thats on everybodys mind. i know the president has long term energy plans, he wants to trade to make more fuel efficient cars, he wants to invest in clean energy and other forms of energy. right here, right now. when folks are paying $4 in some states, approaching it in other states, we have predictions of $5 a gallon. what kind of relief is there. is there any sort of relief the federal government can do for people paying this kind of money for gas? >> ...

Have either purchased the rights to it or purchased the opportunity to get the oil from various sources. have we done any of that? if were not going to drill here have we figured out where to get it other than the middle east? >> no. we are completely trusting the availability of the global trading market which is going to get smaller because youre right. china has a strategic plan as to whether its crude oil will come from. they put $110 billion of loans out there for countries like venezuela, ...

It was established in 1983. it has the largest refining capacity in china and the third largest in the world as well. it generated $197 billion of revenue in 2009. enormous numbers from some of these companies. now china national offshore oil corporation, better known as cnooc, was formed in 1992 to create joint ventures with foreign firms and dominates chinas offshore market generating more than $15 billion in revenue in 2009. not surprisingly heavy hitters coming out of china. eunice yoon take...