RE: No new refineries due to Biden's policies

Dexter IA

Description

How many NEW Major oil refineries have been built in the last 45 years? MAJOR refineries? Under any Major Political Party? Oil Refineries are built by Oil Companies. Oil Refineries are upgraded by oil companies rather than go to the expense of building new ones. Building a new one not only takes a lot of time and planning - it's up to the oil companies. The high cost of oil these days is due to lower production by oil producing countries all over the world. Oil is a finite commodity that demand has grown by every country in the world. Oil producing countries make more money when they limit supply. Like every other country in the world - our oil is sold on the world market -- oil prices go up -- we pay more at the pump. Russia is one of the world's oil producing nations -- they cut their own throats / their economy - when they (putin) decided to invade Ukraine - the World (including the US) decided to stop buying Russian oil. We created the oil shortage. The US has been buying oil from other countries including Russia continuously for decades. So we're all part of the higher gas prices. Another refinery started now wouldn't be operational for quite some time even if the oil companies wanted to build one.