Why are there no new Oil Refineries built lately when price of Oil today is higher than it was 50 years ago?
In: 196
Lots of good answers already but don’t forget, they slowed down output when Covid hit because demand died instantly. They haven’t really gotten anywhere close to previous outputs because they want to keep the supply low to continue to keep demand high even though usage is back to pre pandemic levels. It’s the reason for record profits. They probably figure it’s the last time things will be this good so ride it as long as they can.
Latest Answers