In a report released August 4, [2005] ICF Consulting cautions government, consumers, and industry that the lack of adequate refinery capacity may become a greater concern than availability of crude oil over the next 5-10 years. The analysis titled, The Emerging Oil Refinery Capacity Crunch, provides background on global oil demand history and trends, and compares the forecast of demand growth with the refinery capacity outlook. The implications are significant for both the United States and global economies. Our analysis studies the impacts of the Energy Policy Act of 2005 on refiners. In the mid-1980s, the oil industry suffered from...