Republican Policy Chairman on the Need for New Oil Refineries

Republican Policy Chairman on the Need for New Oil Refineries
Shadegg:"It Is Ridiculous That These Gas Prices Are Caused, In Part, By Our Lack of Refining Capacity"

Washington, D.C., Sep 1 - New York - U.S. Congressman John Shadegg, the Chairman of the House Policy Committee and a member of the Energy and Commerce Committee, today called for a renewed effort to build new oil refineries in the United States, and the specific need for a refinery in Arizona, after a visit to the New York Mercantile Exchange.

"The current spike in gasoline prices, caused by the damage from Hurricane Katrina, is yet another reminder of how critically important it is that we build an oil refinery in Arizona as soon as possible.

No new oil refinery has been built in the United States since 1976. Of course America needs more crude oil and more energy from alternative sources. But ask any knowledgeable authority and they will tell you a major factor in the high price of gasoline in the US is the lack of refinery capacity. We must build our own refining capacity in Arizona, and the sooner we get started the better."

Currently, Arizona receives 70 percent of its gas via pipeline from California and 30 percent through a pipeline from Texas.

The New York Mercantile Exchange, located in Manhattan, is the world's largest physical commodity futures exchange and the preeminent trading forum for energy and precious metals.

http://johnshadegg.house.gov/News/DocumentSingle.aspx?DocumentID=33611