12 replies to this topic

[nimblebear]

[

We need more refineries. Period.

I couldn't agree more. But I wouldn't bet on it.

[skott]

I would imagine a wink and a nod amongst the oil ceo's result in persistent negligence/underinvestment in maintenance because it pays off by reducing supply and driving prices higher.

[Rogerdodger]

Tulsa's Quick Trip corp has found a way to help me save on gas. Their pumps will only pump $98 into my tank and then they shut off. Out of a $100, I had $2 left over for coffee and a Snickers. I heard a refining industry expert say that it would take 10 years to get a new refinery operating and another 20 years to see any profit on the costs. Not much incentive there. He said that the demand is growing by 2 1/2 refineries output per year here in the US. So we actually are importing not only more oil, but refined gasoline itself!

Edited by Rogerdodger, 25 May 2007 - 12:31 AM.