Wednesday, March 11, 2009

refinery capacity of China may outstrip US'

This article talked about increasing refinery capacity in China in 2007. Likewise Canada is building new refineries coming online in 2015. If the US lags in refinery capacity, our gas prices will remain higher than they have to be. A Texas refinery burned recently, as well as a new tax being introduced on gasoline in Minnesota. High gas prices in the US are inflationary, and I don't know how that will effect the global competitiveness of the US energy economy, but building new refineries may be more important than I thought before now.

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