Takes extra long when a million of the locals ran out and bought new Silveradopes, Subdivisions, and Yuck-ons in the last two years.
The scary part isn't the oil industry bracing for a drop in consumption...
it's the gummint dreaming up new ways to screw the motorist, likely via mileage-based taxation.
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U.S. government policy is pushing gasoline consumption "down, down, down," says Ed Feo, a partner with law firm Milbank, Tweed, Hadley & McCloy LLP, who advises clients on renewable-energy policy. "There isn't a single policy I can think of that supports increasing gasoline use."
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This guy is an idiot. Look at the many policies/programs that favor unfettered reproduction and immigration, as well as policies that promote sprawl.
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Between 1990 and 2000, the population grew at the same 13% rate, but miles driven rose only 28% and gasoline demand by 17%.
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"Only"?
"ONLY"?!?
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The lost business from falling gasoline demand has contributed to the demise of at least one oil refiner. Flying J Inc. filed for bankruptcy reorganization in December. It closed its refinery in Bakersfield, Calif., and hasn't said when or if it will restart production. Larger Sunoco Inc. says if it can't sell a refinery in Tulsa, Okla., by the end of the year, it will shut it down entirely.
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Do the Palins and Joe Plumbers of America know about this? (The Ultimate Solution To Everything: Drill!, Baby, Drill!!!; and put up more refineries while yer at it!!!)
Not. 