We actually import more crude oil than we need and export the surplus products. We usually import gasoline, or gasoline blending products but when you include all the products from the barrel, we are a net exporter.
Dare I ask why the apparent need for increased refinery capacity is not satisfied?
We actually import more crude oil than we need and export the surplus products. We usually import gasoline, or gasoline blending products but when you include all the products from the barrel, we are a net exporter.
Dare I ask why the apparent need for increased refinery capacity is not satisfied?
Go ask the NIMBY’s, the Sierra Club, the Eco-nuts, etc. To my knowledge there has not been a single ‘new’ refinery built in the U.S. in over forty years. Pretty much like no new nuke plants, but I digress.
Political not economic perceptions and regulations on top of that have harmed anyone who wants to build such facilities. This will not change unless some ‘huge’ outside factor occurs.