Indyphil

Who's Really to Blame for High Gas Prices?

Brian
While a new refinery hasnt been built in the US the exsisting ones have expanded nicely. Why build a new one - jump through permitting hoops if you can expand the ones you have? Refinery utilization is in the economic range ~80% telling us we have just the right amount. It gets tight when we get hurricanes but otherwise we are right in the ballpark for refinery capacity. Refinery margins are tight further proof that there is plenty of competition.

This is an oil problem, it has little to do with refining. The only thing refiners have to work on is investing in cokers to enable them to make the most of heavier crudes.