Taking that road trip this Memorial Day will cost you much more than last year. The price of gas is becoming unmanageable for the average family.
Congresswoman Heather Wilson is taking action in Congress to address high gas prices. She introduced a bill in Congress this week to make it easier for oil companies to build new refineries.
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“We need to increase the supply of American-made energy. That means opening up the other continental shelf and Alaska as well as producing nuclear, biomass and clean coal,” Wilson said.
“One piece of the puzzle is building more refineries. This bill will streamline the regulatory process for refineries to obtain new permits and encourage the construction of new refineries. A new refinery hasn’t been built in nearly thirty years. We are now importing 10% of our refined gasoline and that number is growing.”
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Wilson introduces her bill at a press conference on energy legislation with her Republican colleagues
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A new refinery hasn't been built in the United States for nearly thirty years. The current process to obtain a permit and construct a refinery is burdensome and difficult. As a result, our existing refineries are operating at 98% of capacity, or even higher. If a problem arises and a refinery is temporarily shutdown for repairs, the price of gasoline will easily spike.
Our demand for oil is exceeding our ability to refine it. The United States is forced to import refined products, such as gasoline, from other countries - causing us to become more energy dependent. We must pursue American-made energy. Building new refineries to handle the capacity is a start.
To learn more about the legislation Congresswoman Wilson has introduced to encourage the construction of new refineries, click here.
What goes in to the price of a gallon of gas?
When you buy gas, you pay for more than just the cost of the refined oil. With oil above $100 a barrel, this counts for about half of what you pay when you fill up your tank. The cost to refine the gas adds 28%, and transporting the gas from the refinery to your local gas station, as well as the stations marketing and advertising costs add another 8%. The federal gas tax is about 18 cents per gallon, and the New Mexico state gas tax is 36 cents. That adds 14% to every gallon.
With the price of refining oil contributing to over a quarter of the price of a gallion of gas, Congresswoman Wilson's bill to increase the number of refineries in the United States is more important than ever in helping to lower prices at the pump.
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