Earlier quoted context omitted.
> the new refineries in Oklahoma and Texas. Two truly new refineries in 50 years despite lots of growth of demand throughout most of those decades. The fact there's only been two in fifty years and neither is anywhere near operational is proving my point. These are largely aberrations compared to the last fifty years , and its extremely notable the larger one is being built largely by a foreign oil company wanting to…
You ignore all the upgrades existing refineries have had. They pollute much less these days than when built. In 10 years your new refinery will also be old and not up to modern standards. It too will need upgrades.
All of my life has been around the oil industry, I'm well bathed in it.