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View Diary: My Republican Friend Griped That The Price of Gas Has Doubled (40 comments)

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  •  Only half true (5+ / 0-)
    Recommended by:
    Naniboujou, Ashaman, grubber, MGross, Dbug

    While we haven't built new refineries we've added capacity to our existing refineries.

    The fact that we're actually exporting refined products implies that we don't really have a lack of refining capacity.

    •  Elaboration (1+ / 0-)
      Recommended by:
      Dbug

      Refining tends to have rather poor (and often unpredictable) margins, and you aren't allowed to just shut down the refinery when the margins bend negative.

      Combine lousy margins with a huge upfront capital cost and serious environmental/NIMBY opposition to building a new refinery, and no one wants to actually build one, at least in the US.

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