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No New Refinery has been built since 1976...

Published:

Last Edited: June 8, 2007, 1:57 am

I got this from MSN...Here is the link: http://articles.moneycentral.msn.com/SavingandDebt/SaveonaCar/10ThingsYouShouldKnowAboutGasPrices.aspx

 Here is an Excerpt:

4. Why don't oil companies just build more refineries?

It takes 10 to 15 years for a company to site, permit and build a new refinery. With relatively flat profit margins prior to 2002 and calls to reduce the use of fossil fuels, analysts say the payoff has been too uncertain to risk a long-term, multibillion-dollar investment.

"As a result, no new refineries have been built since 1976." When operating capacity drops from 95% to 89%, as it did to accommodate maintenance shutdowns and other problems this spring, producers are forced to buy refined product at world auction.

 COMMENTS: As you already read: "No new refinery has been built since 1976....You are going to tell me they can't build a refineries because it takes 10 to 15 years? That's a big lie...And what's been going on since 1976? More than 32 years have passed since 1976...I believe there is a big conspiracy to suck money off of the American people and keep the price up...What kind of lame excuse is that of "No new refineries since 1976..."The problem is that big oil companies do not want to spend a lot of money on new refineries and they profit more, their profits are more maximized this way without refineries been built....

You say there is no conspiracy!!!: Well i heard about a guy on CNN that invented a way to modify Hybrid/Electric cars so that the car could give you 500 MILES PER GALON!!!!...But the guy had like 18 electric batteries built on his car...I think he was from California....Why i haven't heard more of that guy? What became of that guy? This happened like 8 months ago...EXACTLY...They want him shut up...The car wasn't completely electric...

 

Entry #24

Comments

1.
four4meComment by four4me - June 8, 2007, 11:48 am
YOU asked: What kind of lame excuse is that of "No new refineries since 1976..."

Because there was supposedly a federal mandate to stop/limit using fossil fuels in automotive products by the year 2020. the big three USA automakers were supposed to develop alternate fuel vehicles. however they are slow to bring the newest technology to the market.
2.
justxploringComment by justxploring - June 9, 2007, 3:21 am
If everyone plugs in their cars to charge their 18 batteries, we'll need more nuclear power plants!

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