"Bob Fry" wrote in message
...
"Jay Honeck" writes:

When it is profitable enough then more refining capacity will be
built.
On
the production side, the market is telling you that it is not very
attractive to drill at recent prices.

I was under the impression that restrictive EPA regulations had
essentially
halted new refinery construction?

Caveat: I know as much about the refinery business as Jay ;-)

EPA regulations don't "halt new refinery construction." Their
safeguards no doubt make it more expensive.

The cost of the initial PAPERWORK runs into $$$BBBBILLIONS, much less the
actual construction.