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Why the Iraq war happened...
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26/05/2006 15:56:28
 
 
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SNIP
>- Fast track new construction and expansion of existing refineries
SNIP

Why do you think that would be acted on if done?
The consolidation of the oil giants into behemoths several years back led to the closing of many refineries.
Now I understood that many of those, or the land they occupied, are still owned by the oil giants. And of course they are ALREADY qualified for refineries whether the old one is gone or just mothballed.

Saudi Arabia has twice offered to build a new refinery in the U.S. as a direct way of highlighting the REAL problem that is hurting U.S. oil/gas prices.

The oil companies have NO USE for increased refining capacity because all that can do is cause LOWER GAS PRICES and it is not in their interest to have low gas prices. They lose profit with each penny of price drop!
The oil companies are sitting exactly where they want to be... allowing claims of supply/demand on the world market to be the cause of higher prices when in fact it is their closure of refineries years ago - to bring on this situation - that is the real cause.
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