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Pastimes : The California Energy Crisis - Information & Forum
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To: Raymond Duray who wrote (548)6/15/2001 3:21:18 PM
From: Sam  Read Replies (1) of 1715
 
Ray,
Somehow no one has mentioned the NYT & ABC report that oil refiners in the mid-1990s were far from trying to build refineries that the goo-goo environmentalists are alleged to have opposed. In fact, a Chevron document claimed that "If the US petroleum industry doesn't reduce its refining capacity, it will never see any substantial increase" in refining profits. (NYT, today, p. 16).

The report also says that despite not adding new refineries, refining capacity has increased since 1995 due to efficiency improvements and expansion of already built plants, though capacity was increased at a slower rate than demand.

The wonders of "competition."
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