Interesting. Thanks for that.
There are refineries being shut down though. And many of the major companies have folded up shop and left since the BP oil spill.
Whatever the specific reasons, did anyone really doubt that this was coming?
Sure, since when running at only 83% capacity, we still don't use all we produce.
Some of those older refineries that have not been updated are having a tough time in this domestic market. Refinery margins are tight. A few of the combination oil producer and refinery companies are selling off the refining portion, like ConocoPhillips.
And many of the major companies have folded up shop and left
I don't think so. Can you name one major oil company you think left the US in this time?