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#11
May 24th 04, 07:51 PM
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High real estate prices on the west coast have halted refinery construction
there as much as anything else. All factors are in play of course...permitting requirements, local opposition, tax climate, the price of steel, the non-desirablility of living next door to a refinery. When all these variables are considered, there is a price level where a new refinery will be built. When we get there, the refinery will be built. Mike MU-2 "Jay Honeck" wrote in message news:Ra1sc.10707$af3.571010@attbi_s51... 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? -- Jay Honeck Iowa City, IA Pathfinder N56993 www.AlexisParkInn.com "Your Aviation Destination" 
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