Wednesday, July 11, 2007
Oil Refinery Capacity
"Biofuels Push Causes Oil Industry To Cut Refinery Plans" read the headline in the Lansing State Journal last week and probably other papers. Wouldn't you think that some reporter would ask the refiners' spokesperson why we should believe the industry ever planned to build new refineries when they have not built any for 30 years, and are using their huge profits to buy back their own stock rather than invest in new plants? This is where our newspapers are failing the public. As long as papers just print press releases without investigation and background, the public is not well served.