"Mike Rapoport" wrote in message
nk.net...
When it is profitable enough then more refining capacity will be built.

Don't think so. Couldn't do it if they if they wanted to. If the regs were
"relaxed", it would still be prohibitive after the cost of dealing with the
regs were amortized.

On
the production side, the market is telling you that it is not very
attractive to drill at recent prices.

As one person pointed out to me: the oil companies that took a beating the
past ten years or so were the ones that merely did refining, not drilling.
(He mentioned Texaco and a few others I don't recall / recognize).