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Originally Posted by Cynthetiq
As far as doing something about it? Write the Sierra Club a thank you note for limiting the building of more refineries instead of pushing for changing the CAFE standards higher than the measly growth it has had in 20+ years. (sorry I'm pissed at those greenies)
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yeah, but, the EPA has only received one (1) application from Big oil since the mid seventies to build a refinery, and it was approved.
In addition, big oil is regularly applying for an receiving permits to expand existing refiineries.
Secondly, big oil has been closing down and rationalizing its production over the years to eliminate excess capacity. (Something like 50% of the refineries in North America were closed in the 1990's.)
Excess capacity = more inventory = lower prices = lower profit.
Blaming the environmentalists is somewhat simplistic.