Chevron CEO Mike Wirth does not expect another oil refinery to be built in the United States ever again, due to federal government policies. The last significant refinery built in the United States was in 1976. (A small refinery came online in 2020 in North Dakota). Over the last two years, due to reduced demand from the pandemic and Presidnt Biden’s stated policy to reduce the demand for petroleum products, U.S. refineries have been shut down or repurposed to become biofuel refineries. In a business where investments have a payout period of a decade or more, it is unlikely for investment to be spent on policies where the demand is to be reduced. Wirth stated rhetorically, “How do you go to your board, how do you go to your shareholders and say ‘we’re going to spend billions of dollars on new capacity in a market that is, you know, the policy is taking you in the other direction.”
https://www.instituteforenergyresearch.org/fossil-fuels/gas-and-oil/will-any-new-refineries-be-built-in-the-united-states/
My plan as President, any investment I find necessary will be fully written off in one year from the start of the project. Once it’s build try and kill it Libs because it was paid for already.
A small refinery came online in 2020 in North Dakota I recall it was built on tribal land...all 400 acres of it
Including a rail head, roads, hospital and pipelines from oil and gas under the property....and jobs for the locals.