Quote:
Originally Posted by Dion
I agree with much of what you are saying. You would think Oil companies would be building more refineries. Then again more refineries means greater supply and less profit for these guys.
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If they were profitable people would build more. Problem is that enviromentalists and regulators hate new refineries.
I remember that Richard branson guy was in Canada few years ago saying how he plans to build a refinery in N america, haven't heard from him since.
It's a free market Dion, if they make so much money, nothing is stopping anyone from building one if they are so profitable. The fact is they have done well the past couple years, but overall refining business has been quite poor.