We are awash in oil. We need to build refineries to keep up with these discoveries and drive the price down. What’s the hold up?
We have more refineries now than we can use. We have become a net exporter of refined product because of that. We may not have built a new refinery in 30 years, but we spent that time upgrading and expanding the existing ones. The average US refinery is twice as big as they were back then.
The high price of gasoline is from the high price of oil. We need more oil production, not refineries.