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Originally Posted by Donger
Okay, that's certainly possible. I've answered that question multiple times in many threads. I think I answered it in this thread, too.
* EDIT - Post 104
Correct. There two reasons why the oil companies haven't built one: profit and red tape. A new refinery would be a huge capital expense. Sure, they presently have the cash, but realizing a profit from a new refinery would take years. Also, our government has made building (let alone getting one approved) a refinery an extremely painful process. Environmental regulations, politics, etc. Instead, they have chosen to expand existing refineries to meet demand (and import refined gasoline).
Sorry, for some reason I thought you had asked it before.
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Thank you for checking, and thanks for the answer.
After giving it some thought, here's what I think -
I really do understand Economics 101, and I can't blame a single person for wanting to make money. If I were in a similar position, I'd want as much as I could get as well. The thing I'm hung up on is the fact that there is no viable mass produced energy alternative to gasoline. Knowing this, I think that the petroleum business needs some sort of regulation and oversight. Gasoline has become a necessity to modern day life much like electricity, and should be somehow regulated. But certainly, we can and should all try to adjust our lives accordingly to ease the stress of higher prices at the pump. There are few other products we know of that can have such a ripple effect on our economy and daily lives than gasoline and its cost. As it stands now, it seems petroleum companies have carte blanche to do as they wish with the prices when they want.