No matter what the Bai-Den liars say, oil refining in the US has dropped since he took office. (Graph below.)
Further--and worse--it's not likely that any new refineries will be built.
...In June, Chevron CEO Mike Wirth posited that there would never be another new refinery built in the United States.
“Building a refinery is a multi-billion dollar investment. It may take a decade. We haven’t had a refinery built in the United States since the 1970s. My personal view is that there will never be another refinery built in the United States,” Wirth said at the time.
Oil and gas companies would have to weigh the benefits of committing capital ten years out that will need decades to offer a return to shareholders “in a policy environment where governments around the world are saying ‘we don’t want these products to be used in the future,’” Wirth added....
Short: no point in sticking a billion into a plant that will be outlawed in 5-10 years when the ROI requires 30 years or so.
No comments:
Post a Comment