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Politics : Formerly About Advanced Micro Devices
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To: Road Walker who wrote (340738)6/18/2007 9:18:49 PM
From: TimF  Read Replies (2) of 1577828
 
This one company at least has been trying to build a new refinery.

The rest of the industry has expanded capacity, although they haven't built any brand new refineries. Instead the old ones have gotten larger and more efficient. Total production has increased in recent years but so has demand. Total production didn't go up before the last few years (it dropped in the 80s and early 90s before picking up recently) but prices where all over the place, and where not consistently high enough to show that there would be a positive return on investment. Margins on refining where poor in the eighties, and smaller inefficient refineries where shut down.

A look at this chart will give an idea of both why capacity dropped, and why it has gone back up again.

oregonstate.edu

Not to make any particular point but just as a refrence, here is a list of US refineries.

eia.doe.gov
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