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Goofy Regulatory Nuttiness

Reported by Deborah - September 24, 2005

Meredith Whitney, Fox News Contributor, appeared on Fox & Friends this morning to discuss the rise in energy costs from downed oil refineries in the Gulf. Whitney claimed that Rita would force the government to look at the codes making the refineries less efficient.
She described the 26 grades of oil as examples of 'goofy regulatory nuttiness." 9/24/05

Whitney complained that State regulations even prevent us from having a national grade of milk. She claimed that one grade of gasoline would make oil refineries profitable like they were in the past until
the "not in my backyard" syndrome took over making refinery locations difficult to find which created less supply.

comment: Of course the other alternative to less regulations on oil production might be more concentration on alternative fuels. Seems like the real "goofy-nuttiness" in this discussion was even thinking about ways to produce less regulated oil for us to burn in the future. Maybe the waters in the Gulf of Mexico can exceed 90 degrees next year if we loosen and eliminate enough environmental regulations and if we're lucky maybe we'll get a chance to witness a category 6 real soon.

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