Why Chevron CEO Said There May Not Another Oil Refinery Built in USA

Chevron President Mike Wirth says he does not believe that another refinery for oil to be constructed inside the U.S. ever again.

Cites years of federal policies of the government as the reason "There hasn't been a refinery built in this country since 1970s.

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Bernstein's Strategic Decisions Conference this week in response to questions about the likelihood of adding capacity.

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"I personally don't believe there will be a new petroleum refinery ever built in this country again."

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"Capacity is added by de-bottlenecking existing units by investing in existing refineries," said the analyst. explained.

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The stated policy of the U.S. government is to reduce demand for the products that refiners produce."

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The Renewable Fuel Standard created in 2005, which requires a certain amount of biofuels such as Ethanol.

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Wirth stated "And the stated policy of the government for a long time has been to reduce demand for your products".

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Chevron President Mike Wirth says he does not believe that another refinery for oil to be constructed inside the U.S. ever again.

Chevron CEO

Cites years of federal policies of the government as the reason "There hasn't been a refinery built in this country since 1970s.

Chevron CEO

Bernstein's Strategic Decisions Conference this week in response to questions about the likelihood of adding capacity.

Chevron CEO

"I personally don't believe there will be a new petroleum refinery ever built in this country again."

Chevron CEO- Petroleum Refineries

"Capacity is added by de-bottlenecking existing units by investing in existing refineries," said the analyst. explained.

Chevron CEO- Existing Industries

The stated policy of the U.S. government is to reduce demand for the products that refiners produce."

Chevron CEO- USA Government

The Renewable Fuel Standard created in 2005, which requires a certain amount of biofuels such as Ethanol.

Chevron CEO- Renewable Fuel Standard

Image Source- OffShore Engineer

Wirth stated "And the stated policy of the government for a long time has been to reduce demand for your products".

Chevron CEO- Stated Policy of Government

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Chevron CEO- Swipe Up For More!!!