East central Iowa, Camanche, Iowa | I worked in the chemical industry for 25 years and saw first hand how the ever increasing environmental regulations and public opinion (Not In My Backyard!!!) have kept the oil industry from expanding it's capacity in the US. It is to the point to where it is virtually impossible to build a new facility and de-bottlenecking existing facilities provide limited returns.
I could go on and on but I think most of you guys would be shocked at the amount of capital it takes to operate a refinery and how much of the gross profit goes to environmental and safety compliance.
Also, please remember that it take years to design and build a new facility. That expense needs to be covered with current production or recovered when the new production comes on line. |
The next time you see an eviromentalist thank him for Ethanol's survival
