Originally Posted by DigitalNinja
There have not been any new refineries built in North America in many years! The issue is not supply of crude oil but lack of refineries. This is why the price of oil goes up because there is less to go around. Bad move IMO.
I agree with you that fewer operating refineries contributes to a climbing price, but let's not exaggerate the possibility of fewer refineries affecting higher gas prices when much of this is due to a skyrocketing oil demand from developing nations becoming more broadly industrialised.
As well, since the majority of countries, aside from many in Europe (Germany) and Asia (China), have not adequately invested in green technologies, the demand (and price) for oil will not be curbed in the foreseeable future; therefore, neither will prices for most other things be curbed.
I haven't yet read anything about the Dartmouth refinery. I'm wondering about its profitability.