Why are there no new Oil Refineries built lately when price of Oil today is higher than it was 50 years ago?
In: 196
The question is invalid as it’s based on a false assumption that no new refineries are being built.
Here’s the list of new refineries in the USA:
[https://www.eia.gov/tools/faqs/faq.php?id=29&t=10](https://www.eia.gov/tools/faqs/faq.php?id=29&t=10)
8 opened in the last 8 years. Meanwhile zero opened in the 17 years before that.
We’re in a oil refinery boom by that data.
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