Aug 10, 2012
Hello. In response to your comments about Oil Refineries and capacity. There is NOT an over capacity of oil refineries in the Americas. Right now there is an artificial oversupply over because of the reduced economy and because so many people are out of work. As the economy picks up and more people go back to work we will very quickly have a shortage of refineries.
And oil companies that drill for oil make profits when the price of oil increases, but Oil companies that own refineries often lose money when the price of oil goes up. Overall for the last 10 years plus Oil Refineries have not made adequate profits and in many cases have lost money. That is why some oil companies have sold off or closed there refineries. You may not like it, but businesses NEED to make profits to stay in business and to employ workers, and provide you with the products that you want.