Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: patron_anejo_por_favor who wrote (38941)	10/11/2005 2:22:59 PM
From: Elroy Jetson	Read Replies (2) of 116555

Nobody wants to build new refineries. Valero doesn't want to build new refineries, nor does Chevron or any other oil company. No new refineries will be built, only existing refineries expanded. Saudi Arabia offered to pay for three new refineries in the U.S. but nobody wanted to be the recipient of this largesse. Shell suggested they instead spend some of their money expanding Shell's Motiva refinery in Texas -- so they are doing so. Refinery margins for efficient refineries are currently around 35%+ and you still won't find any new refineries being built. .

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