Chevron CEO: There May Never Be Another Oil Refinery Built in U.S. Again

The Democrats are systematically destroying this nation with unimaginable speed.

Oil, in some form, is in almost every product that is made. The government is out of control – run by traitors and scoundrels.

One commenter queried, “Do you think that it is a coincidence that we Americans are being conditioned for accepting food, gas, electricity baby formula and water shortages while restricting public gatherings and worship services? And government moving to confiscate your guns?”

Chevron CEO: There May Never Be Another Oil Refinery Built in US Again

By Jack Phillips, The Epoch Times, June 14, 2022:

Chevron CEO Mike Wirth said in a recent interview that he does not believe another oil refinery will be built again in the United States, saying that government policies are a key reason why, as average gas prices continue to rise as of Tuesday.

“There hasn’t been a refinery built in this country since the 1970s,” Wirth said during Bernstein’s Strategic Decisions Conference on June 1 when asked about more refining being added in the Gulf of Mexico. “I personally don’t believe there will be a new petroleum refinery ever built in this country again.”

Wirth added: “Capacity is added by de-bottlenecking existing units by investing in existing refineries … but what we’ve seen over the last two years are shutdowns. We’ve seen refineries closed. We’ve seen units come down. We’ve seen refineries being repurposed to become bio refineries. And we live in a world where the policy, the stated policy of the U.S. government is to reduce demand for the products that refiners produce.”

Continuing further, Wirth said that the federal government’s current policy is to reduce the demand for oil, making it “very hard” in a company “where investments have a payout period of a decade or more.”

Wirth also asked rhetorically, “How do you go to your board, how do you go to your shareholders and say ‘we’re going to spend billions of dollars on new capacity in a market that is, the policy is taking you the other direction.’”

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