[kellynla]

it's not rocket science
we are refining less than we did in the 80's while demand has continued to rise and rise and rise
next case...

[thackney]

we are refining less than we did in the 80's while demand has continued to rise and rise and rise

The impact of environmental requirements on refining/marketing return on investment (ROI) appeared to remain substantial. Calculations of ROI excluding environmental effects show that actual ROI was 42 percent lower than the ROI excluding the financial effects of environmental compliance, on average, over the period 1996 to 2001. In 1991 to 1995 the comparable reduction in ROI was 69 percent. In 1988 to 1990, prior to the implementation of the Clean Air Act Amendments of 1990, the comparable reduction was 32 percent.

[NC28203]

>>>we are refining less than we did in the 80's while demand has continued to rise and rise and rise

We are refining more oil today than in the 80's. Look at the table I included in my link. Capacity today is higher than at any point since 1982 and production had increased from 12.1bbd to 15.5bbd.
I'm not opposed to new refinry construction, but it appears that we have been able to increase capcity through the 90s and 00s without building one.