Wednesday, December 26, 2007

Why aren't there more U.S. refineries?

Demand for gasoline continues to soar in the United States and that's fueling record profits for international oil companies. The economic law of supply and demand would suggest that the number of refineries in the country should be expanding to capitalize on America's energy hunger. But the trend actually is running in the opposite direction.

Why is that?

Stuart Hampton, who has followed the petroleum industry since the 1990's for Hoovers, offers his answers in Bizmology.

I think you'll find it quite interesting.

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