Why are there no new Oil Refineries built lately when price of Oil today is higher than it was 50 years ago?
In: 196
EPA regulations. Opening a new refinery under the current restrictions isn’t financially feasible even with current prices.
There is no financial incentive to open new refineries when limited supply drives up the cost per gallon anyway. So not only would opening a new refinery cost a buttload, it would drive down the per gallon profit.
Latest Answers