The USA imports significant amounts of gasoline. This is in addition to importing much larger amounts of oil, much of which is refined domestically into gasoline, etc. Given the importing, why would anyone conclude that there isn't a gas shortage in the USA?
Sure, one important feature is that gasoline imports are done to make up for stunted refinery capacity. We just haven't kept up with building refineries, since the NIMBYs and other blockages have successfully kept us from doing so. But that aside, even if refined to such a level, we'd still be using all that gasoline, hence the price of oil would largely remain the same.
Well, if the EPA had in place standards that would stop enviromental errosion due to refineries, I wouldn't have a problem making more. Thank you very much deregulation asshat Bush.
>>3
I can understand your sentiments, but we still aren't building any refineries, so the Bush angle really doesn't convince me. What increased production we DID enjoy was due to efforts to increase production efficiency at existing refineries. We got a LOT of efficiency out of that, without which we'd be in an even deeper import imbalance with gasoline. But the problem remains: regulations or not, we just didn't build enough refineries.