"Dave S" wrote in message
news
The oil companies havent gone into bankruptcy in droves over 20 odd years,
if anything they have made money hand over fist. They have not increased
their refining capacity because it would decrease their overall PROFIT
margin. Building new refining capacity to "standard" would drive their
incremental cost of production UP, and eat into the stockholders
dividends. But make no mistake, it would still be PROFIT.


Refining capacity for gasoline has increased 3X over the period while no new
refineries were built.

Mike
MU-2