Originally Posted by tony404

Current refineries are only operating at 80-85 percent of capacity.

Taken from the Wyden report of 2001:

In the mid-1990s too much refining capacity, not too little, concerned
the nation's major oil companies. At that time, the oil and gas
industry faced what they termed "excess refining capacity," a
circumstance they viewed as a financial liability that drove down
overall profit margins. The industry reduced the total amount of
potential supply by closing down more than 50 refineries in the past
decade. Since 1995 alone, 24 refinery closings have taken nearly
830,000 barrels of oil per day.


Also oil is a traded commodity so there is no discount if its drilled here. $126 a barrel is $126 a barrel. Its not liberals fault gas is so high. Its W's and the republicans fault for lowering taxes and then going to war and borrowing to pay for it all.