Why aren’t the Oil Companies building new or updating the old refineries with there record profits?
Question Details:Wouldn’t you think that they would be ready to spend some of there extra profits to update there refineries which are all 40 or 50 years old? Do they know something that we don’t like there unbelievable profits will continue indefinitely or maybe oil is going to run out sooner they anyone realizes?
There is no need presently. They are investing heavily in more efficient production equipment (e.g. energy effecient pumping units are very popular lately). Refineries are operating at below capacity, and demand for refined products is dropping at the moment.
January 2nd, 2010 at 12:35 am
Bill Clinton signed an executive order just before he left office… it entered us into the Kyoto treaty (look it up) – this resulted in the closure of almost 40% of our refineries… there are too many federal regulations on fuel octane and carbon emissions to just open up new refineries… In fact, we haven’t opened any new ones since the late 70’s…
References :
January 2nd, 2010 at 1:17 am
The environmentalists and the govt crownies they have in their pocket won’t allow new refineries to be built…the oil companies are spending massives dollars on increasing production at current refineries though….sorry to throw a wet blanket on your premise…
References :
January 2nd, 2010 at 1:31 am
The right wing think tanks will say that the Democrats won`t let them build new refiners but Republicans had control of congress and the presidency until 2006 and still did nothing. The Conservative Political Action Conference was sponsored by The American Petroleum Industries and even had a big banner but the media made sure not to show it while reporting.
References :
January 2nd, 2010 at 2:07 am
Why would they build refineries if it would lower prices? They are beholden to shareholders, not consumers. It’s my understanding that building refineries will change nothing, except in the event that a hurricane knocks one out, we’ll have spare refineries to work with.
References :
January 2nd, 2010 at 2:16 am
There is no need presently. They are investing heavily in more efficient production equipment (e.g. energy effecient pumping units are very popular lately). Refineries are operating at below capacity, and demand for refined products is dropping at the moment.
References :
January 2nd, 2010 at 2:38 am
Think green: don’t you want to save the whales and polar bears? How about the three-toed frog? What about global warming? What about kids and cute puppies and little kittens? If we build more refineries all the soft and cuddly things in life will be in jeopardy. Green good, oil bad; unless of course we use oil and gas for liberal causes, and if we do then we can justify that use for the better good. And with the help of the major media, the entertainment industry and academia we will fool America and the rest of the world into believing the way we do. Utopia!
References :