The Argus Leader reports today that the city of Elk Point has endorsed a proposed oil refinery nearby:
The Elk Point City Council unanimously approved a resolution Monday supporting a proposed oil refinery near the community.
The six-member council, plus Mayor Isabel Trobaugh, supported the "green refinery" project for its commitment to high environmental standards and the hope that it will "enhance America's petroleum independence," according to the resolution.
The vote is a show of support. It doesn't direct the city to take any action in regard to the project.
Though symbolic, it is an important statement of support for the refinery. The refinery would be good for the Elk Point area, as it will employ between 4,000 and 10,000 people during its construction, and will employ about 1,800 once it's built.
But there's another, even more important reason we need this refinery. It's one I discussed in the Rapid City Journal back in July:
The last refinery built in the United States was in Garyville, La., in 1976. Since then, the oil industry has tried a few times to build more, but regulatory hurdles usually make it more trouble than it’s worth . One company, Hampton Roads Energy Corp., tried for nine years before giving up in 1984.
There were about 300 refineries at the peak of the industry in the early 1980s, but about 170 have closed in the meantime. Since then, increased efficiencies have raised production from 6.4 million barrels a day to 8.2 million.
Meanwhile, demand is about 9 million and refineries are near 100 percent capacity already.
If you think gas that's north of $3.00 a gallon is too much, then tell the environmental wackos to shut up, and let's build some more refineries.
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