By Max Lindberg •
June 4, 2008
First in America Since 1976
Voters have said yes to a zoning ordinance that would result in construction of the nation’s newest oil refinery in over 30 years.
The highly contentious issue has pitted neighbor against neighbor in Union County, SD for months after Hyperion Energy first applied for a zoning permit to build the refinery.
Elk Point, SD city officials, quoted in the Sioux City Journal, were elated over the vote, saying it could bring thousands of new jobs and millions of dollars into the farming community.
As a barrel of oil hovers around $130, the news has been bombarding us with the obvious effects of high oil prices. As most people weep at the pump, some environmentalists are rejoicing. Gas consumption is down, but there are additional hidden costs to high gas prices that leave even green minded folks with a frown.
1-Difficult to Extract Oil & High Environmental Impact
High oil prices are making it economically viable to utilize oil that is difficult to extract. One example of this is just north of the border.
In the U.S., our single biggest source of foreign oil is from Canada. Although this may be reassuring from a foreign policy standpoint, much of this oil comes with a steep environmental price tag. Known as tar sands oil, 2 tons of sand are needed to produce one barrel of oil in a very resource and energy intensive process.
Never mind the ever-accelerating signs that the Earth is being stressed to multiple tipping (or breaking) points: rising atmospheric carbon dioxide, acidifying oceans, threatened fisheries, dwindling water resources. Like an addict who’s spiraling out of control, the world’s powers-that-be seem hellbent on taking a “just-this-once” [...]
