Chevron CEO Mike Wirth says he does not expect another oil refinery to be built in the U.S. ever again, pointing to decades of federal government policies as the reason why.
“There hasn’t been a refinery built in this country since the 1970s,” Wirth said at Bernstein’s Strategic Decisions Conference this week, when asked about the prospect of new capacity being added in the Gulf of Mexico. “I personally don’t believe there will be a new petroleum refinery ever built in this country again.”
“Capacity is added by de-bottlenecking existing units by investing in existing refineries,” he explained. “But what we’ve seen over the last two years are shutdowns. We’ve seen refineries closed. We’ve seen units come down. We’ve seen refineries being repurposed to become bio refineries. And we live in a world where the policy, the stated policy of the U.S. government is to reduce demand for the products that refiners produce.”
IMO a mistake. Self sufficient eliminates the problem of relying on others. Hence the mess we and many in the world are in.
Relying on others is never the 100% solution.
This is what the lefties want!
There May be NOT another COUP allowed to Run our country’s GOVT after 2020 Democrat Coup !!!!!!!
Battery factorys will take off !!!!!!!!
Takes alot of GREEN to run your vehicle !!!!! Democrats Love GREEN !!!!!!!!!!!!
$5.00 a Gallon in > SALISBURY MD Have Fun
We probably won’t need it, we have hidden technologies on the horizon, just hang in there and let them rid the planet of all the trash.
Who appointed mike wirth to the job of predicting the future. He knows nothing.