it is clear that's the way the industry wants it, and they are restricting capacity on purpose. They have no incentive to do otherwise; we've proven more than willing and able to pay $3-$4-more? for gas.
Eggzactly ! and it stinks too ! Guess that lil ol monopoly should be busted up - after all Ma Bell got it ...Microsoft is a target why not big oil ? Oh yeah ...No way to bust em up if we can't get there ...bastages .....*fuming*
Well, if building a refinery was such a great idea, wouldn't some group of bankers or wall street guys do it? Maybe, just MAYBE, it really ISN'T a great investment to build a refinery... Especially when it looks like the government is about to change the rules on you again.
Do refiners make a ton of money? Sure. But compare their profits vs revenue to just about anyone else. The margins aren't that great. If oil companies could buy Starbucks franchises, that would be a better investment than building refineries.
The only difference between last year and this, is the elections.
Inhofe et al. won't be able to push through relaxing regulations.
The article does correctly address refining capacity rather than "building refineries." There won't be new refineries in any case as long as it is much cheaper and there are much lower environmental hurdles to clear to just expand existing plants.